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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule Of Loss Before Provision For Income Taxes | The components of loss before provision for income taxes were as follows (in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Domestic | $ | (62,515) |  |  | $ | (206,674) |  |  | $ | (225,127) |
Foreign | (24,439) |  |  | (19,555) |  |  | (19,256) |
Loss before provision for income taxes | $ | (86,954) |  |  | $ | (226,229) |  |  | $ | (244,383) |
Schedule of Components of Income Tax (Benefit) Expense | The components of the (benefit) expense for income taxes were as follows (in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Current expense (benefit) provision: |  |  |  |  |
U.S. Federal and state | $ | 1,118 |  |  | $ | (45) |  |  | $ | 2,430 |
Foreign | 1,163 |  |  | 1,037 |  |  | 292 |
Total current expense provision | 2,281 |  |  | 992 |  |  | 2,722 |
Deferred expense (benefit) provision: |  |  |  |  |
U.S. Federal and state | 79 |  |  | (120) |  |  | 11 |
Foreign | (433) |  |  | (562) |  |  | — |
Total deferred expense provision | (354) |  |  | (682) |  |  | 11 |
Total expense provision | $ | 1,927 |  |  | $ | 310 |  |  | $ | 2,733 |
Summary Of The Differences Between The Company's Effective Tax Rate And Statutory Tax Rate | The differences between the Company’s effective tax rate and the statutory tax rate in 2024, 2023, and 2022 were as follows (in thousands):
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Income tax benefit at federal statutory rate (21% for 2024, 2023 and 2022) | $ | (18,260) |  |  | $ | (47,328) |  |  | $ | (51,321) |
State and local income taxes net of federal tax benefit | 1,393 |  |  | (3,477) |  |  | (1,816) |
Permanent items | 3,716 |  |  | 3,015 |  |  | (1,608) |
Research and development tax credits | (1,413) |  |  | (3,301) |  |  | (9,793) |
Foreign rate differential | 2,353 |  |  | 2,255 |  |  | 1,862 |
Other | 2,496 |  |  | 1,656 |  |  | (5,485) |
Change in valuation allowance | 11,642 |  |  | 47,490 |  |  | 70,894 |
Income tax expense | $ | 1,927 |  |  | $ | 310 |  |  | $ | 2,733 |
Schedule Of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):
| 2024 |  | 2023
Balance at January 1, | $ | 14,362 |  |  | $ | 13,844 |
Additions to current period tax positions | 353 |  |  | 825 |
Reductions to prior period tax provisions | — |  |  | (307) |
Balance at December 31, | $ | 14,715 |  |  | $ | 14,362 |
Schedule Of Deferred Tax Assets And Liabilities | Significant components of the Company’s deferred tax assets and liabilities are as follows (in thousands):
| December 31,
| 2024 |  | 2023
Deferred tax assets: |  |  |
Net federal and state operating losses | $ | 105,865 |  |  | $ | 108,753 |
Research and development credits | 87,287 |  |  | 88,390 |
Royalty income | 117,570 |  |  | 122,391 |
Stock-based compensation | 34,486 |  |  | 26,113 |
Capitalized R&D | 82,476 |  |  | 75,081 |
Leasing obligations | 2,806 |  |  | 3,076 |
Other | 22,693 |  |  | 17,515 |
Total deferred tax assets | 453,183 |  |  | 441,319 |
Deferred tax liabilities: |  |  |
Fixed assets | (797) |  |  | (678) |
Right of use asset | (2,620) |  |  | (2,872) |
Total deferred tax liabilities | (3,417) |  |  | (3,550) |
Valuation allowance | (448,740) |  |  | (437,098) |
Net deferred tax assets | $ | 1,026 |  |  | $ | 671 |

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