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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 139,376 $ 72,307
Short-term investments 525,146 183,858
Accounts receivable, net 57,560 38,376
Inventory 11,900 14,114
Short-term portion of financial royalty assets, net 12,416 10,025
Income taxes receivable 536 4,073
Other current assets 6,986 8,806
Total current assets 753,920 331,559
Intangible assets, net 233,535 266,648
Goodwill 101,541 105,250
Long-term portion of financial royalty assets, net 206,332 185,024
Noncurrent derivative assets 9,351 10,583
Property and equipment, net 3,466 15,133
Lease right-of-use assets 7,609 9,673
Equity method investments 42,000 0
Other investments 106,721 10,908
Deferred income taxes, net 9,526 72
Other assets 2,771 6,924
Total assets 1,476,772 941,774
Current liabilities:    
Accounts payable 3,679 5,233
Accrued liabilities 24,084 27,906
Income taxes payable 1,284 1,199
Current contingent liabilities 268 206
Current operating lease liabilities 1,089 1,266
Other current liabilities 135 1,302
Total current liabilities 30,539 37,112
Long-term deferred revenue 0 2,246
Long-term contingent liabilities 3,569 3,475
Long-term operating lease liabilities 4,415 5,815
Long-term portion of 2030 convertible senior notes, net 445,493 0
Deferred income taxes, net 22,673 32,524
Other long-term liabilities 19,912 30,163
Total liabilities 526,601 111,335
Commitments and contingencies
Stockholders’ equity:    
Preferred stock, $0.001 par value; 5,000 shares authorized; zero issued and outstanding at September 30, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value; 60,000 shares authorized; 19,656 and 19,106 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 20 20
Additional paid-in capital 362,614 337,377
Accumulated other comprehensive income (loss) 9,322 (5,942)
Retained earnings 578,215 498,984
Total stockholders’ equity 950,171 830,439
Total liabilities and stockholders’ equity $ 1,476,772 $ 941,774