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v3.25.3

Basis of Presentation and Summary of Significant Accounting Policies - Segment Profit or Loss (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2025 | Sep. 30, 2024 | Sep. 30, 2025 | Sep. 30, 2024
Revenue, Major Customer |  |  |  |
Total revenues and other income | $ 115,461 | $ 51,812 | $ 208,421 | $ 124,321
Share-based compensation |  |  | (32,579) | (33,565)
Other segment items: |  |  |  |
Amortization of intangibles | (8,097) | (8,258) | (24,612) | (24,701)
Interest expense | (910) | (741) | (2,930) | (2,154)
Net income (loss) | 54,931 | 3,143 | 27,159 | (12,969)
Other expense items, net | 34,500 | 14,200 | 111,600 | 34,600
Castle Creek Investment |  |  |  |
Other segment items: |  |  |  |
Recognized research and development expense |  |  | 44,300 |
Orchestra Warrant |  |  |  |
Other segment items: |  |  |  |
Recognized research and development expense |  |  | 17,800 |
Income from financial royalty assets |  |  |  |
Revenue, Major Customer |  |  |  |
Total revenues and other income | 6,425 | 5,157 | 18,640 | 6,454
Other segment items: |  |  |  |
Financial royalty assets impairment |  |  |  | 26,500
Development and Licensing of Biopharmaceutical Assets |  |  |  |
Revenue, Major Customer |  |  |  |
Total revenues and other income | 115,461 | 51,812 | 208,421 | 124,321
Share-based compensation | (14,746) | (15,171) | (32,579) | (33,565)
Other segment items: |  |  |  |
Amortization of intangibles | (8,097) | (8,258) | (24,612) | (24,701)
Depreciation of property and equipment | (172) | (736) | (949) | (1,911)
Interest income | 3,874 | 1,347 | 7,266 | 6,124
Interest expense | (910) | (741) | (2,930) | (2,154)
Other | 21,863 | (35,425) | (74,948) | (41,058)
Net income (loss) | $ 117,273 | $ (7,172) | $ 79,669 | $ 27,056

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