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Basis of Presentation and Significant Accounting Policies (Tables)

9 Months Ended

Sep. 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 September 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		$	91,481			$	91,481			$	—			$	—
U.S. Treasuries		$	473,831			$	473,831			$	—			$	—
Investment in equity securities:
Equity securities		$	19,167			$	19,167			$	—			$	—

		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 September 30,								For the Nine Months Ended September 30,
		2025				2024				2025				2024
FIRDAPSE®		$	92,181			$	79,303			$	260,757			$	223,517
FYCOMPA®			23,804				32,075				93,763				99,035
AGAMREE®*			32,380				15,046				81,785				24,966
Total product revenue, net		$	148,365			$	126,424			$	436,305			$	347,518

_________________

*AGAMREE® net product revenue for the nine months ended September 30, 2024 is for the period between March 13, 2024 (date of commercial launch) and September 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 September 30,								For the Nine Months Ended September 30,
		2025				2024				2025				2024
Customer A			84.0	%			74.6	%			78.2	%			71.5	%
Customer B			5.7	%			9.4	%			7.9	%			10.0	%
Total			89.7	%			84.0	%			86.1	%			81.5	%

Basic and Dilutive Weighted Average Common Shares

The following table reconciles basic and diluted weighted average common shares:

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
		2025				2024				2025				2024
Basic weighted average common shares    outstanding			122,600,730				118,931,153				122,082,914				117,976,056
Effect of dilutive securities			4,489,464				6,476,126				5,119,040				6,543,782
Diluted weighted average common shares    outstanding			127,090,194				125,407,279				127,201,954				124,519,838

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 September 30,								For the Nine Months Ended September 30,
		2025				2024				2025				2024
Research and development		$	2,657			$	3,284			$	10,902			$	8,850
Selling			32,512				30,966				95,745				86,064
General and administrative (a)			14,958				14,914				44,585				47,484
Total		$	50,127			$	49,164			$	151,232			$	142,398

__________________________________________

(a) exclusive of amortization of intangible assets

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