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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 500,919 $ 750,530 $ 1,655,077 $ 1,388,574
Operating costs and expenses:        
Cost of goods sold 81,980 79,473 203,864 196,241
Cost of collaborations and royalties 3,925 4,836 16,689 28,307
Research and development 270,926 253,179 826,063 732,274
Selling, general and administrative 220,993 199,175 680,187 597,523
Total operating costs and expenses 577,824 536,663 1,726,803 1,554,345
(Loss) income from operations (76,905) 213,867 (71,726) (165,771)
Other (expense) income:        
Interest expense (34,376) (30,893) (102,887) (89,883)
Interest income 32,146 25,425 90,973 65,155
Other expense, net (29,528) (57,658) (99,777) (105,331)
Total other expense, net (31,758) (63,126) (111,691) (130,059)
(Loss) income before income taxes (108,663) 150,741 (183,417) (295,830)
Provision for income taxes (2,907) (2,988) (10,977) (6,542)
Net (loss) income $ (111,570) $ 147,753 $ (194,394) $ (302,372)
Net (loss) income per common share - basic (in dollars per share) $ (0.87) $ 1.18 $ (1.53) $ (2.43)
Net (loss) income per common share - diluted (in dollars per share) $ (0.87) $ 1.15 $ (1.53) $ (2.43)
Weighted-average common shares- basic (in shares) 128,590 125,220 127,159 124,667
Weighted-average common shares - diluted (in shares) 128,590 131,337 127,159 124,667
Statements of Comprehensive (Loss) Income        
Net (loss) income $ (111,570) $ 147,753 $ (194,394) $ (302,372)
Other comprehensive income (loss):        
Unrealized gain on marketable securities 9,078 1,878 4,783 3,978
Foreign currency translation gain (loss) 703 2,873 (6,327) 8,356
Defined benefit pension plans, net of tax 30 (10) 93 (19)
Total other comprehensive income (loss) 9,811 4,741 (1,451) 12,315
Comprehensive (loss) income (101,759) 152,494 (195,845) (290,057)
Net product revenues        
Revenues:        
Total revenues 420,146 313,153 1,195,397 895,186
Net revenues from collaborations        
Revenues:        
Total revenues 57,387 427,472 403,273 469,778
Royalty revenue        
Revenues:        
Total revenues $ 23,386 $ 9,905 $ 56,407 $ 23,610