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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net (loss) income $ (37,604) $ 34,228
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Change in estimated fair value of contingent liabilities 1,931 1,200
Depreciation of fixed assets and amortization of intangible assets 17,292 17,618
Accretion of short-term investments (1,605) (587)
Amortization of debt discount and issuance fees 261 180
Non-cash income from financial royalty assets (888) 0
CECL adjustment to financial royalty assets (750) (4,260)
Impairment loss of financial royalty assets 0 26,491
Loss (gain) on derivative instruments 245 (1,696)
Losses from equity method investment in Primrose Bio 0 10,382
Fair value adjustment to Primrose Bio securities investments 0 25,759
Share-based compensation 17,833 18,394
Deferred income taxes, net (9,169) (1,120)
Loss (gain) from short-term investments 11,428 (96,516)
Lease amortization expense 983 982
Other 1,736 358
Changes in operating assets and liabilities:    
Accounts receivable (3,341) (5,587)
Inventory (1,375) 5,121
Accounts payable and accrued liabilities (2,556) 390
Income tax receivable and payable 2,758 8,486
Deferred revenue (578) (940)
Other assets and liabilities (6,247) (6,837)
Net cash (used in) provided by operating activities (9,646) 32,046
Cash flows from investing activities:    
Acquisition of financial royalty assets (1,821) (4,174)
Proceeds from financial royalty assets 5,179 4,207
Purchases of property and equipment (428) (513)
Purchases of short-term investments (122,717) (102,075)
Proceeds from sale of short-term investments 38,414 98,908
Proceeds from maturity of short-term investments 83,220 23,611
Cash paid for investment in Primrose Bio 0 (998)
Cash paid for Palvella notes receivable 0 (2,500)
Cash paid for the Agenus transaction 0 (75,000)
Purchase of Castle Creek derivatives (7,620) 0
Net cash used in investing activities (5,773) (58,534)
Cash flows from financing activities:    
Payments under finance lease obligations (14) (9)
Net proceeds from stock option exercises and ESPP 12,461 24,856
Taxes paid related to net share settlement of equity awards (9,036) (3,076)
Cash paid for debt issuance costs (73) (98)
Proceeds from Pelthos investors 6,910 0
Net cash provided by financing activities 10,248 21,673
Effect of exchange rate changes on cash and cash equivalents 3,350 0
Net decrease in cash and cash equivalents, including cash and cash equivalents classified within assets held for sale (1,821) (4,815)
Less: net increase in cash and cash equivalents classified within assets held for sale (2,817) 0
Net decrease in cash and cash equivalents (4,638) (4,815)
Cash and cash equivalents at beginning of period 72,307 22,954
Cash and cash equivalents at end of period 67,669 18,139
Supplemental disclosure of cash flow information:    
Interest paid 201 112
Taxes paid 4,554 5,772
Supplemental schedule of non-cash investing and financing activities:    
Addition of right-of-use assets and lease liabilities 2,315 1,737
Accrued fixed asset purchases 9 25
Unrealized loss on available-for-sale investments, net of tax $ (71) $ (118)