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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 304,964 $ 193,513
Accounts receivable 20,392 14,454
Receivable from collaboration arrangements 65,974 69,621
Inventory 33,725 40,737
Prepaid expenses 21,063 21,630
Current portion of ISP Fund investments 107,532 0
Other current assets 656 4,264
Total current assets 554,306 344,219
Property and equipment, net 514 483
Equity method investments 52,293 116,546
Equity and long-term investments 341,664 444,432
Capitalized fees paid, net 69,961 83,784
Right-of-use assets 2,453 2,536
Goodwill 17,905 17,905
Intangible assets 208,433 230,335
Deferred tax assets, net 12,054 0
Other assets 41,477 3,267
Total assets 1,301,060 1,243,507
Current liabilities:    
Accounts payable 2,132 6,717
Accrued personnel-related expenses 7,376 7,020
Accrued interest payable 3,422 3,422
Deferred revenue 1,126 1,277
Convertible notes, due 2025, net of issuance costs 192,028 0
Other accrued liabilities 29,999 19,698
Total current liabilities 236,083 38,134
Long-term debt, net of discount and issuance costs 256,316 446,234
Other long-term liabilities 64,275 71,870
Deferred tax liabilities, net 0 563
Income tax payable, long-term 53,227 11,751
Commitments and contingencies (Note 13)
Stockholders' equity:    
Preferred stock: $0.01 par value, 230 shares authorized, no shares issued and outstanding 0 0
Common stock: $0.01 par value, 200,000 shares authorized, 62,665 and 63,307 issued and outstanding as of December 31, 2024 and 2023 respectively 627 633
Treasury stock: at cost, nil and, 32,005 shares as of December 31, 2024 and 2023, respectively 0 (393,829)
Additional paid-in capital 692,329 1,093,340
Accumulated deficit (1,797) (25,189)
Total stockholders' equity 691,159 674,955
Total liabilities and stockholders' equity $ 1,301,060 $ 1,243,507