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 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues:        
Total revenues $ 80,890 $ 69,462 $ 218,411 $ 224,480
Costs and expenses:        
Cost of product sales 10,783 4,753 23,914 13,666
Research and development 18,272 7,353 43,909 22,610
Selling, general and administrative 34,730 28,936 98,023 85,908
Total costs and expenses 63,785 41,042 165,846 122,184
Income from operations 17,105 28,420 52,565 102,296
Interest income 561 1,094 2,555 2,438
Interest expense and other (257) (1,894) (2,469) (5,621)
Income before income taxes 17,409 27,620 52,651 99,113
Provision for (benefit from) income taxes 4,224 (280) 13,522 154
Net income $ 13,185 $ 27,900 $ 39,129 $ 98,959
Net income per share        
Basic (in dollars per share) $ 0.70 $ 1.55 $ 2.11 $ 5.52
Diluted (in dollars per share) $ 0.65 $ 1.46 $ 1.97 $ 5.38
Weighted average shares used in computing net income per share        
Basic (in shares) 18,710 18,038 18,557 17,912
Diluted (in shares) 20,439 19,156 19,896 18,379
Product sales, net        
Revenues:        
Total revenues $ 72,289 $ 64,067 $ 194,227 $ 166,565
Contract revenues from collaborations and other        
Revenues:        
Total revenues $ 8,601 $ 5,395 $ 24,184 $ 57,915