Quarterly report [Sections 13 or 15(d)]

CONDENSED STATEMENTS OF OPERATIONS

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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues:        
Total revenues $ 78,703 $ 101,685 $ 137,521 $ 155,018
Costs and expenses:        
Cost of product sales 8,525 4,504 13,131 8,913
Research and development 13,961 6,821 25,637 15,257
Selling, general and administrative 32,642 29,257 63,293 56,972
Total costs and expenses 55,128 40,582 102,061 81,142
Income from operations 23,575 61,103 35,460 73,876
Interest income 789 753 1,994 1,344
Interest expense and other (779) (1,874) (2,212) (3,727)
Income before income taxes 23,585 59,982 35,242 71,493
Provision for income taxes 6,295 369 9,298 434
Net income $ 17,290 $ 59,613 $ 25,944 $ 71,059
Net income per share        
Basic (in dollars per share) $ 0.93 $ 3.33 $ 1.40 $ 3.98
Diluted (in dollars per share) $ 0.88 $ 3.28 $ 1.32 $ 3.91
Weighted average shares used in computing net income per share        
Basic (in shares) 18,541 17,885 18,477 17,848
Diluted (in shares) 19,570 18,162 19,619 18,168
Product sales, net        
Revenues:        
Total revenues $ 67,015 $ 58,948 $ 121,938 $ 102,498
Contract revenues from collaborations and other        
Revenues:        
Total revenues $ 11,688 $ 42,737 $ 15,583 $ 52,520