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Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Accounting Policies [Abstract] |
Summary of Impact of Accounts Receivable Reserves on Gross Trade Accounts Receivable Balances | The following table summarizes the impact of accounts receivable reserves on the gross trade accounts receivable balances at December 31, 2024 and 2023:
In thousands |  | December 31, 2024 |  |  | December 31, 2023 |
Gross trade accounts receivable |  | $ | 133,072 |  |  | $ | 160,686 |
Trade allowances |  |  | (9,433 | ) |  |  | (18,834 | )
Chargebacks |  |  | (1,360 | ) |  |  | (8,289 | )
Accounts receivable, net |  | $ | 122,279 |  |  | $ | 133,563 |
Calculation of Net Loss and Number of Shares Used to Compute Basic and Diluted Net Loss per Share | The calculation of net loss and the number of shares used to compute basic and diluted net loss per share for the years ended December 31, 2024, 2023, and 2022 are as follows:
In thousands |  | 2024 |  |  | 2023 |  |  | 2022 |
Net (loss) income —basic and diluted |  | $ | (82,183 | ) |  | $ | (59,112 | ) |  | $ | (105,803 | )
Weighted average shares outstanding—basic and diluted |  |  | 410,937 |  |  |  | 407,655 |  |  |  | 401,155 |
Net (loss) earnings per share—basic and diluted (1) |  | $ | (0.20 | ) |  | $ | (0.15 | ) |  | $ | (0.26 | )
(1) Excluding the licensing revenue change in estimate incurred in 2024 and the licensing revenue change in estimate and Medicaid change in estimate incurred in 2023, both discussed in Note 12 – Revenue Recognition, net loss per share basic and diluted for both years ended December 31, 2024 and 2023 would have been $(0.21).
Anti-Dilutive Securities Not Included in the Computation of Net (Loss) Earnings per Share | For the years ended December 31, 2024, 2023 and 2022, the following potentially dilutive securities were not included in the computation of net (loss) earnings per share because the effect would be anti-dilutive or because performance criteria were not yet met for awards contingent upon such measures:
In thousands |  | 2024 |  |  | 2023 |  |  | 2022 |
Stock options |  |  | 27,696 |  |  |  | 27,956 |  |  |  | 19,182 |
Restricted stock and restricted stock units |  |  | 13,865 |  |  |  | 11,983 |  |  |  | 14,461 |
Estimated Fair Value of Assets and Liability | The following tables present information about the estimated fair value of the Company’s assets and liabilities as of December 31, 2024 and 2023 and indicate the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:
|  | December 31, 2024 |
In thousands |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Asset: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury Securities |  | $ | 174,722 |  |  | $ | 174,722 |  |  | $ | — |  |  | $ | — |
Money Market Fund |  |  | 67,456 |  |  |  | 67,456 |  |  |  | — |  |  |  | — |
Repo Securities |  |  | 5,000 |  |  |  | — |  |  |  | 5,000 |  |  |  | — |
Total |  | $ | 247,178 |  |  | $ | 242,178 |  |  | $ | 5,000 |  |  | $ | — |
|  | December 31, 2023 |
In thousands |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Asset: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury Securities |  | $ | 123,992 |  |  | $ | 123,992 |  |  | $ | — |  |  | $ | — |
Money Market Fund |  |  | 99,226 |  |  |  | 99,226 |  |  |  | — |  |  |  | — |
Agency Securities |  |  | 8,912 |  |  |  | — |  |  |  | 8,912 |  |  |  | — |
Repo Securities |  |  | 3,250 |  |  |  | — |  |  |  | 3,250 |  |  |  | — |
Total |  | $ | 235,380 |  |  | $ | 223,218 |  |  | $ | 12,162 |  |  | $ | — |
Schedule of Reportable Segment Profit or Loss Including Significant Reportable Segment Expenses | The table below is a summary of the reportable segment profit or loss, including significant reportable segment expenses:
| Year Ended December 31, |
In thousands | 2024 |  |  | 2023 |  |  | 2022 |
US product revenue, net | $ | 166,701 |  |  | $ | 273,886 |  |  | $ | 359,856 |
Europe product revenue, net |  | 13,664 |  |  |  | 3,284 |  |  |  | 2,585 |
RoW product revenue, net |  | 24,225 |  |  |  | 8,129 |  |  |  | 4,070 |
Total product revenue, net |  | 204,590 |  |  |  | 285,299 |  |  |  | 366,511 |
Licensing and royalty revenue |  | 24,024 |  |  |  | 21,612 |  |  |  | 2,682 |
Total revenue, net |  | 228,614 |  |  |  | 306,911 |  |  |  | 369,193 |
Less: Cost of goods sold |  | 110,758 |  |  |  | 102,142 |  |  |  | 108,631 |
Less: Cost of goods sold - restructuring inventory |  | 36,474 |  |  |  | 39,228 |  |  |  | 18,078 |
Gross margin |  | 81,382 |  |  |  | 165,541 |  |  |  | 242,484 |
Operating expenses: |  |  |  |  |  |  |  |
Selling |  | 40,150 |  |  |  | 57,243 |  |  |  | 117,012 |
General and administrative |  | 38,290 |  |  |  | 52,559 |  |  |  | 75,261 |
Research and development |  | 8,276 |  |  |  | 9,270 |  |  |  | 17,766 |
Payroll and payroll related expense |  | 68,758 |  |  |  | 86,405 |  |  |  | 97,983 |
Non-cash stock-based compensation expense |  | 17,705 |  |  |  | 16,680 |  |  |  | 26,805 |
Restructuring |  | — |  |  |  | 10,972 |  |  |  | 13,526 |
Total operating expenses |  | 173,179 |  |  |  | 233,129 |  |  |  | 348,353 |
Operating loss |  | (91,797 | ) |  |  | (67,588 | ) |  |  | (105,869 | )
Interest income |  | 13,403 |  |  |  | 11,863 |  |  |  | 2,819 |
Interest expense |  | (7 | ) |  |  | (8 | ) |  |  | (15 | )
Other income (expense), net |  | 1,201 |  |  |  | 2,063 |  |  |  | (740 | )
Loss from operations before taxes |  | (77,200 | ) |  |  | (53,670 | ) |  |  | (103,805 | )
Provision for income taxes |  | (4,983 | ) |  |  | (5,442 | ) |  |  | (1,998 | )
Segment & consolidated net loss | $ | (82,183 | ) |  | $ | (59,112 | ) |  | $ | (105,803 | )
Summary of Restructuring Charges | The following table sets forth the cash obligations of the Company's restructuring charges for the years ended December 31, 2024, 2023 and 2022:
|  | For the Year Ended December 31, |
In thousands |  | 2024 |  |  | 2023 |  |  | 2022 |
Employee restructuring separation charges |  | $ | — |  |  | $ | 10,383 |  |  | $ | 9,310 |
Vendor contract charges |  |  | — |  |  |  | 589 |  |  |  | 4,216 |
Total restructuring expense |  |  | — |  |  |  | 10,972 |  |  |  | 13,526 |
Restructuring inventory |  |  | — |  |  |  | 39,228 |  |  |  | 18,078 |
Stock forfeitures |  |  | — |  |  |  | 1,034 |  |  |  | 591 |
Total restructuring cash obligations incurred |  | $ | — |  |  | $ | 51,234 |  |  | $ | 32,195 |
Change in Restructuring Liability | The following table shows the change in restructuring liability which is included within accrued expenses and other current liabilities:
In thousands |  | Restructuring Liability |
Balance at December 31, 2023 |  | $ | 13,589 |
Restructuring cash obligations incurred |  |  | — |
Payments |  |  | (13,589 | )
Balance at December 31, 2024 |  | $ | — |

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