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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Mar. 31, 2026
Fair Value Disclosures [Abstract] |
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis | The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of March 31, 2026 and December 31, 2025 and indicates the fair value category assigned.
|  | Fair Value Measurements at Reporting Date Using
|  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs |  |
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
As of March 31, 2026: |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Money market funds(1)(2) |  | $ | 45,337 |  |  | $ | — |  |  | $ | — |  |  | $ | 45,337 |
Certificate of deposit(2) |  | 274 |  |  | — |  |  | — |  |  | 274 |
Municipal securities(3)(4) |  | — |  |  | 12,038 |  |  | — |  |  | 12,038 |
U.S. Treasury securities(3) |  | — |  |  | 14,985 |  |  | — |  |  | 14,985 |
Government-sponsored enterprises(3) |  | — |  |  | 2,959 |  |  | — |  |  | 2,959 |
Commercial paper(1)(3) |  | — |  |  | 71,557 |  |  | — |  |  | 71,557 |
Corporate notes(3) |  | — |  |  | 173,648 |  |  | — |  |  | 173,648 |
Total |  | $ | 45,611 |  |  | $ | 275,187 |  |  | $ | — |  |  | $ | 320,798 |
Liabilities: |  |  |  |  |  |  |  |
Sale of future royalties(5)(6) |  | — |  |  | — |  |  | 129,773 |  |  | 129,773 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 129,773 |  |  | $ | 129,773 |
As of December 31, 2025: |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Money market funds(1)(2) |  | $ | 50,557 |  |  | $ | — |  |  | $ | — |  |  | $ | 50,557 |
Certificate of deposit(2) |  | 274 |  |  | — |  |  | — |  |  | 274 |
Municipal securities(3) |  | — |  |  | 10,041 |  |  | — |  |  | 10,041 |
U.S. Treasury securities(3)(4) |  | — |  |  | 22,951 |  |  | — |  |  | 22,951 |
Commercial paper(3) |  | — |  |  | 84,382 |  |  | — |  |  | 84,382 |
Corporate notes(3)(4) |  | — |  |  | 209,253 |  |  | — |  |  | 209,253 |
Total |  | $ | 50,831 |  |  | $ | 326,627 |  |  | $ | — |  |  | $ | 377,458 |
Liabilities: |  |  |  |  |  |  |  |
Sale of future royalties(5)(6) |  | — |  |  | — |  |  | 129,582 |  |  | 129,582 |
Total |  | $ | — |  |  | $ | — |  |  | $ | 129,582 |  |  | $ | 129,582 |
_______________________________ (1)Included in cash and cash equivalents on our condensed consolidated balance sheets. (2)Included in restricted cash on our condensed consolidated balance sheets. (3)Included in current portion of marketable securities on our condensed consolidated balance sheets. (4)Included in noncurrent portion of marketable securities on our condensed consolidated balance sheets. (5)Included in current portion of liabilities related to sale of future royalties on our consolidated balance sheets. (6)Included in noncurrent portion of liabilities related to sale of future royalties on our consolidated balance sheets.

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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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