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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 689,892 $ 517,553
Accounts receivable, net 106,409 65,476
Inventory, net 28,029 19,541
Prepaid expenses and other current assets 28,123 21,039
Total current assets 852,453 623,609
Operating lease right-of-use asset, net 2,010 2,230
Property and equipment, net 1,077 1,354
License and acquired intangibles, net 128,639 156,672
Deferred tax assets, net 48,256 45,982
Investment in equity securities 19,167 21,564
Total assets 1,051,602 851,411
Current Liabilities:    
Accounts payable 9,096 16,593
Accrued expenses and other liabilities 119,639 104,085
Total current liabilities 128,735 120,678
Operating lease liability, net of current portion 2,461 2,786
Other non-current liabilities 161 315
Total liabilities 131,357 123,779
Commitments and contingencies (Note 12)
Stockholders' equity:    
Preferred stock, $0.001 par value, 5,000,000 shares authorized: none issued and outstanding at September 30, 2025 and December 31, 2024 0 0
Common stock, $0.001 par value, 200,000,000 shares authorized; 123,264,583 shares and 120,879,099 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 123 121
Additional paid-in capital 473,333 442,286
Retained earnings 446,789 285,161
Accumulated other comprehensive income (loss) (Note 4) 0 64
Total stockholders' equity 920,245 727,632
Total liabilities and stockholders' equity $ 1,051,602 $ 851,411