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Basis of Presentation and Significant Accounting Policies (Tables) | 6 Months Ended
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Jun. 30, 2025
Accounting Policies [Abstract] |
Fair Value Measurement Specific to Assets or Liability |
|  | Fair Value Measurements at Reporting Date Using (in thousands) |
|  | Balances as of June 30, 2025 |  |  | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 102,194 |  |  | $ | 102,194 |  |  | $ | — |  |  | $ | — |
U.S. Treasuries |  | $ | 407,687 |  |  | $ | 407,687 |  |  | $ | — |  |  | $ | — |
Investment in equity securities: |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | 21,256 |  |  | $ | 21,256 |  |  | $ | — |  |  | $ | — |
|  | Fair Value Measurements at Reporting Date Using (in thousands) |
|  | Balances as of December 31, 2024 |  |  | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 109,947 |  |  | $ | 109,947 |  |  | $ | — |  |  | $ | — |
U.S. Treasuries |  | $ | 329,457 |  |  | $ | 329,457 |  |  | $ | — |  |  | $ | — |
Investment in equity securities: |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | $ | 21,564 |  |  | $ | 21,564 |  |  | $ | — |  |  | $ | — |
Summary of Disaggregated Product Revenue | The following table summarizes the Company’s net product revenue disaggregated by product (in thousands):
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
FIRDAPSE® |  | $ | 84,845 |  |  | $ | 77,372 |  |  | $ | 168,576 |  |  | $ | 144,214 |
FYCOMPA® |  |  | 34,332 |  |  |  | 36,535 |  |  |  | 69,959 |  |  |  | 66,960 |
AGAMREE®* |  |  | 27,363 |  |  |  | 8,746 |  |  |  | 49,405 |  |  |  | 9,920 |
Total product revenue, net |  | $ | 146,540 |  |  | $ | 122,653 |  |  | $ | 287,940 |  |  | $ | 221,094 |
_________________ *AGAMREE® net product revenue for the six months ended June 30, 2024 is for the period between March 13, 2024 (date of commercial launch) and June 30, 2024.
Summary of Percentage of the Company's Total Net Product Revenue | The following table illustrates the approximate percentage of the Company’s total net product revenue attributed to the Company’s largest customers for the periods presented:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Customer A |  |  | 76.5 | % |  |  | 70.2 | % |  |  | 75.3 | % |  |  | 69.7 | %
Customer B |  |  | 8.5 | % |  |  | 11.2 | % |  |  | 9.1 | % |  |  | 10.4 | %
Total |  |  | 85.0 | % |  |  | 81.4 | % |  |  | 84.4 | % |  |  | 80.1 | %
Basic and Dilutive Weighted Average Common Shares | The following table reconciles basic and diluted weighted average common shares:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Basic weighted average common shares outstanding |  |  | 122,163,212 |  |  |  | 118,180,396 |  |  |  | 121,819,748 |  |  |  | 117,493,257 |
Effect of dilutive securities |  |  | 5,380,072 |  |  |  | 6,475,603 |  |  |  | 5,441,779 |  |  |  | 6,535,495 |
Diluted weighted average common shares outstanding |  |  | 127,543,284 |  |  |  | 124,655,999 |  |  |  | 127,261,527 |  |  |  | 124,028,752 |
Schedule of Significant Segment Expenses of Stock-based Compensation | The following table illustrates information about significant segment expenses, inclusive of stock-based compensation:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Research and development |  | $ | 4,358 |  |  | $ | 2,985 |  |  | $ | 8,245 |  |  | $ | 5,566 |
Selling |  |  | 31,133 |  |  |  | 28,100 |  |  |  | 63,233 |  |  |  | 55,098 |
General and administrative (a) |  |  | 14,816 |  |  |  | 12,630 |  |  |  | 29,627 |  |  |  | 32,570 |
Total |  | $ | 50,307 |  |  | $ | 43,715 |  |  | $ | 101,105 |  |  | $ | 93,234 |
__________________________________________ (a) exclusive of amortization of intangible assets

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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