Sarepta Therapeutics
(NASDAQ:SRPT)

Sarepta Therapeutics, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapy, and other genetic therapeutic modalities for the treatment of rare diseases. The company offers EXONDYS 51 injection to treat duchenne muscul...

Website: http://www.sarepta.com

Founded: 1980

Full Time Employees: 743

Sector: Healthcare

Industry: Biotechnology

Pharmaceuticals

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At a glance:

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Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-07-22	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-07-22	2012-03-31	2011-12-31	2011-09-30	2011-07-22	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-07-22	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-07-22	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-07-22	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-07-22	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-07-22	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-07-22	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-07-22	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-07-22	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-07-22	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-07-22	2001-06-30	2001-03-31

revenues:
products	330,515,000	369,607,000	370,043,000	513,123,000	611,523,000	638,157,000	429,771,000	360,548,000	359,484,000	365,071,000	309,322,000	238,988,000	231,495,000	235,933,000	207,774,000	211,237,000	188,825,000	178,725,000	166,911,000	141,839,000	124,926,000	122,644,000	121,429,000	111,344,000	100,448,000
collaboration and other	400,288,000	73,327,000	29,313,000	97,968,000	133,333,000	20,255,000	37,401,000	2,383,000	53,980,000
total revenues	730,803,000	442,934,000	399,356,000	611,091,000	744,856,000	658,412,000	467,172,000	362,931,000	413,464,000	396,781,000	331,817,000	261,238,000	253,500,000	258,427,000	230,269,000	233,487,000	210,830,000	201,461,000	189,406,000	164,089,000	146,931,000	145,138,000	143,924,000	137,363,000	113,674,000	100,113,000	99,041,000	94,668,000	87,011,000	84,415,000	78,486,000	73,529,000	64,604,000	57,277,000	45,954,000	35,011,000	16,342,000
yoy	-1.89%	-32.73%	-14.52%	68.38%	80.15%	65.94%	40.79%	38.93%	63.10%	53.54%	44.10%	11.89%	20.24%	28.28%	21.57%	42.29%	43.49%	38.81%	31.60%	19.46%	29.26%	44.97%	45.32%	45.10%	30.64%	18.60%	26.19%	28.75%	34.68%	47.38%	70.79%	110.02%	295.32%
qoq	64.99%	10.91%	-34.65%	-17.96%	13.13%	40.94%	28.72%	-12.22%	4.20%	19.58%	27.02%	3.05%	-1.91%	12.23%	-1.38%	10.75%	4.65%	6.36%	15.43%	11.68%	1.24%	0.84%	4.78%	20.84%	13.55%	1.08%	4.62%	8.80%	3.08%	7.55%	6.74%	13.81%	12.79%	24.64%	31.26%	114.24%
cost and expenses:
cost of sales	108,768,000	398,708,000	150,775,000	152,558,000	137,564,000	132,304,000	91,691,000	44,545,000	50,559,000	44,176,000	37,026,000	34,124,000	35,017,000	30,799,000	39,952,000	37,795,000	31,443,000	31,744,000	23,444,000	19,515,000	22,346,000	22,404,000	15,015,000	13,341,000	12,622,000	15,567,000	13,037,000	15,919,000	12,063,000	13,135,000	8,741,000	6,735,000	5,582,000	3,546,000	3,078,000	534,000	252,000
gross profit	622,035,000	44,226,000	248,581,000	458,533,000	607,292,000	526,108,000	375,481,000	318,386,000	362,905,000	352,605,000	294,791,000	227,114,000	218,483,000	227,628,000	190,317,000	195,692,000	179,387,000	169,717,000	165,962,000	144,574,000	124,585,000	122,734,000	128,909,000	124,022,000	101,052,000	84,546,000	86,004,000	78,749,000	74,948,000	71,280,000	69,745,000	66,794,000	59,022,000	53,731,000	42,876,000	34,477,000	16,090,000
yoy	2.43%	-91.59%	-33.80%	44.02%	67.34%	49.21%	27.37%	40.19%	66.10%	54.90%	54.89%	16.06%	21.79%	34.12%	14.68%	35.36%	43.99%	38.28%	28.74%	16.57%	23.29%	45.17%	49.89%	57.49%	34.83%	18.61%	23.31%	17.90%	26.98%	32.66%	62.67%	93.73%	266.82%
qoq	1306.49%	-82.21%	-45.79%	-24.50%	15.43%	40.12%	17.93%	-12.27%	2.92%	19.61%	29.80%	3.95%	-4.02%	19.60%	-2.75%	9.09%	5.70%	2.26%	14.79%	16.04%	1.51%	-4.79%	3.94%	22.73%	19.52%	-1.70%	9.21%	5.07%	5.15%	2.20%	4.42%	13.17%	9.85%	25.32%	24.36%	114.28%
gross margin %	85.12%	9.98%	62.25%	75.04%	81.53%	79.91%	80.37%	87.73%	87.77%	88.87%	88.84%	86.94%	86.19%	88.08%	82.65%	83.81%	85.09%	84.24%	87.62%	88.11%	84.79%	84.56%	89.57%	90.29%	88.90%	84.45%	86.84%	83.18%	86.14%	84.44%	88.86%	90.84%	91.36%	93.81%	93.30%	98.47%	98.46%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
research and development	153,960,000	325,336,000	218,890,000	204,392,000	773,448,000	199,953,000	224,483,000	179,690,000	200,396,000	195,517,000	194,301,000	241,890,000	245,679,000	213,804,000	216,707,000	252,329,000	194,250,000	197,296,000	139,115,000	239,622,000	195,149,000	207,239,000	190,438,000	188,522,000	136,144,000	223,141,000	133,949,000	113,266,000	90,553,000	146,207,000	86,584,000	122,848,000	46,204,000	44,441,000	34,239,000	58,908,000	29,119,000	70,749,000	34,349,000	44,348,000	38,826,000	41,376,000	36,673,000	29,180,000	39,165,000	30,832,000	21,852,000	20,641,000	20,906,000	410,744,000	21,087,000	13,762,000	12,984,000	13,762,000	346,100,000	10,914,000	14,805,000	14,805,000	285,105,000	15,610,000	15,610,000	17,750,000	14,801,000	244,324,000	9,059,000	9,059,000	6,931,000	6,096,000	6,625,000	7,473,000		5,804,000	4,495,000	5,430,109	7,934,886	7,472,811	8,164,698	7,472,811	9,401,465	9,880,480		9,160,816	6,317,641	6,721,547	5,938,867	6,763,245	5,921,929	6,763,245	4,913,490	4,147,201	4,147,201	3,915,155	4,141,904	3,805,658	4,167,209	97,211,010	97,211,010	6,613,988	6,405,351	3,533,868		74,505,933	2,805,895	50,293,518	65,614,102		7,224,095	7,049,120	38,216,603	2,774,979	36,588,578	39,751,245	36,588,578
selling, general and administrative	108,951,000	128,297,000	91,893,000	137,897,000	133,629,000	163,873,000	128,200,000	138,796,000	127,003,000	131,700,000	120,893,000	118,564,000	110,714,000	120,478,000	104,787,000	154,316,000	71,840,000	78,055,000	61,127,000	72,347,000	71,131,000	86,046,000	75,373,000	73,688,000	82,768,000	81,424,000	75,429,000	67,393,000	60,566,000	64,220,000	53,044,000	47,156,000	43,341,000	32,221,000	28,176,000	36,069,000	26,216,000
amortization of in-licensed rights	691,000	677,000	677,000	667,000	601,000	601,000	602,000	601,000	601,000	763,000	439,000	179,000	178,000	179,000	178,000	179,000	178,000	179,000	178,000	179,000	170,000	165,000	166,000	165,000	166,000	200,000	216,000	217,000	216,000	216,000	216,000	217,000	216,000	216,000	780,000
total cost and expenses	372,370,000	854,517,000	502,745,000	495,514,000	1,045,242,000	496,731,000	444,976,000	363,632,000	378,559,000	372,156,000	352,659,000	394,757,000	391,588,000	365,260,000	361,624,000	444,619,000	297,711,000	307,274,000	223,864,000	331,663,000	298,796,000	315,854,000	280,992,000	275,716,000	231,700,000	330,332,000	222,631,000	370,035,000	163,398,000					80,424,000	91,861,000	98,350,000	55,587,000
operating income	358,433,000	-411,583,000	-103,389,000	115,577,000	-300,386,000	161,681,000	22,196,000	-701,000	34,905,000	24,625,000	-20,842,000	-133,519,000	-138,088,000	-106,833,000	-131,355,000	-211,132,000	-86,881,000	-105,813,000	-34,458,000	-167,574,000	-151,865,000	-170,716,000	-137,068,000	-138,353,000	-118,026,000	-230,219,000	-123,590,000	-275,367,000	-76,387,000	-139,363,000	-70,099,000	-103,427,000	-30,739,000	-23,147,000	-45,907,000	-63,339,000	-39,245,000	-88,395,000	-56,533,000	-62,100,000	-59,702,000	-64,452,000	-51,763,000	-42,107,000	-61,862,000	-44,722,000	-33,675,000	-30,271,000	-25,121,000	-393,517,000	-24,933,000	-15,415,000	-17,087,000	-15,415,000	-341,332,000	-6,905,000	-6,874,000	-6,874,000	-304,038,000	-11,271,000	-11,271,000	-10,125,000	-5,531,000
yoy	-219.32%	-354.56%	-565.80%	-16587.45%	-960.58%	556.57%	-206.50%	-99.47%	-125.28%	-123.05%	-84.13%	-36.76%	58.94%	0.96%	281.20%	25.99%	-42.79%	-38.02%	-74.86%	21.12%	28.67%	-25.85%	10.91%	-49.76%	54.51%	65.19%	76.31%	166.24%	148.50%	502.08%	52.70%	63.29%	-21.67%	-73.81%	-18.80%	2.00%	-34.27%	37.15%	9.22%	47.48%	-3.49%	44.12%	53.71%	39.10%	146.26%	-88.64%	35.06%	96.37%	47.02%	2452.82%	-92.70%	123.24%	148.57%	124.25%	12.27%	-38.74%	-39.01%	-32.11%	5396.98%
qoq	-187.09%	298.09%	-189.45%	-138.48%	-285.79%	628.42%	-3266.33%	-102.01%	41.75%	-218.15%	-84.39%	-3.31%	29.26%	-18.67%	-37.79%	143.01%	-17.89%	207.08%	-79.44%	10.34%	-11.04%	24.55%	-0.93%	17.22%	-48.73%	86.28%	-55.12%	260.49%	-45.19%	98.81%	-32.22%	236.47%	32.80%	-49.58%	-27.52%	61.39%	-55.60%	56.36%	-8.96%	4.02%	-7.37%	24.51%	22.93%	-31.93%	38.33%	32.80%	11.25%	20.50%	-93.62%	1478.30%	61.75%	-9.79%	10.85%	-95.48%	4843.26%	0.45%	0.00%	-97.74%	2597.52%	0.00%	11.32%	83.06%
operating margin %	49.05%	-92.92%	-25.89%	18.91%	-40.33%	24.56%	4.75%	-0.19%	8.44%	6.21%	-6.28%	-51.11%	-54.47%	-41.34%	-57.04%	-90.43%	-41.21%	-52.52%	-18.19%	-102.12%	-103.36%	-117.62%	-95.24%	-100.72%	-103.83%	-229.96%	-124.79%	-290.88%	-87.79%	-165.09%	-89.31%	-140.66%	-47.58%	-40.41%	-99.90%	-180.91%	-240.15%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
other loss, net:
other expense	-15,259,000													5,527,000	-6,322,000	-16,961,000	-17,265,000
income before income tax expense	343,174,000	-278,296,000	-194,049,000	153,638,000	-383,518,000	171,743,000	34,006,000	13,577,000	41,448,000	-140,117,250	-33,174,000											-91,145,000	-196,403,000	-150,800,000	-17,377,000	-119,722,000	-126,100,000	-276,229,000	-76,559,000				-35,224,000	-25,840,000	-45,723,000		86,090,000
income tax expense	12,215,000	4,551,000	-14,102,000	-43,254,000	63,990,000	12,694,000	395,000	7,117,000	5,329,000	-5,284,000	7,763,000	9,355,000	4,045,000	7,938,000	1,320,000	3,388,000	879,000					57,750	96,000	20,000	115,000			174,000	84,000				139,000	-1,842,000	2,011,000		2,000,000
net income	330,959,000	-282,847,000	-179,947,000	196,892,000	-447,508,000	159,049,000	33,611,000	6,460,000	36,119,000	45,655,000	-40,937,000	-23,940,000	-516,755,000	-109,244,000	-257,738,000	-231,481,000	-105,025,000	-121,981,000	-48,144,000	-81,405,000	-167,250,000	-189,317,000	-196,499,000	-150,820,000	-17,492,000	-235,703,000	-126,326,000	-276,403,000	-76,643,000	-140,895,000	-76,393,000	-109,267,000	-35,363,000	-23,998,000	-47,734,000	-63,046,000	84,090,000	-88,452,000	-56,742,000	-62,301,000	-59,770,000	-64,681,000	-51,939,000	-41,851,000	-61,559,000	-44,416,000	-29,226,000	-33,874,000	-28,273,000	-440,071,000	-42,030,000	-42,084,000	-19,051,000	-42,084,000	-372,031,000	-49,554,000	-17,704,000	-17,704,000					1,833,000					-584,000	3,525,000	-8,090,000		-19,668,000	-927,000	-1,140,534	-6,046,993	-15,014,476	-1,750,622	-15,014,476	-4,127,194	-7,034,944		-8,536,620	-9,722,975	-8,329,187	-6,780,646	-9,061,150	-6,902,029	-9,061,150	-4,551,572	-1,692,471	-1,692,471	-4,932,642	-5,499,179	-4,990,254	-5,106,966	-145,875,160	-145,875,160	-7,532,512	-3,096,228	-4,603,655		-123,494,803	-3,418,817	-6,341,304.25	-112,584,224		-10,497,859	-7,816,093	-64,898,088	-15,596,194	-63,472,543	-67,018,558	-63,472,543
yoy	-173.96%	-277.84%	-635.38%	2947.86%	-1338.98%	248.37%	-182.10%	-126.98%	-106.99%	-141.79%	-84.12%	-89.66%	392.03%	-10.44%	435.35%	184.36%	-37.20%	-35.57%	-75.50%	-46.03%	856.15%	-19.68%	55.55%	-45.43%	-77.18%	67.29%	65.36%	152.96%	116.73%	487.11%	60.04%	73.31%	-142.05%	-72.87%	-15.88%	1.20%	-240.69%	36.75%	9.25%	48.86%	-2.91%	45.63%	77.72%	23.55%	117.73%	-89.91%	-30.46%	-19.51%	48.41%	945.70%	-88.70%	-15.07%	7.61%	137.71%														-97.03%	-480.26%	609.32%		30.99%	-47.05%	-92.40%	46.52%	113.43%		75.88%	-57.55%	-15.54%		-5.79%	40.87%	-8.08%	48.97%	435.38%	307.81%	83.70%	-17.23%	-66.08%	-66.86%	-96.62%	-96.23%	-33.75%	64.94%	3068.68%		-93.90%	-9.44%	-27.40%			-67.43%	-18.87%	73.48%		-83.46%	-88.34%	2.25%
qoq	-217.01%	57.18%	-191.39%	-144.00%	-381.36%	373.21%	420.29%	-82.11%	-20.89%	-211.53%	71.00%	-95.37%	373.03%	-57.61%	11.34%	120.41%	-13.90%	153.37%	-40.86%	-51.33%	-11.66%	-3.65%	30.29%	762.22%	-92.58%	86.58%	-54.30%	260.64%	-45.60%	84.43%	-30.09%	208.99%	47.36%	-49.73%	-24.29%	-174.97%	-195.07%	55.88%	-8.92%	4.23%	-7.59%	24.53%	24.10%	-32.01%	38.60%	51.97%	-13.72%	19.81%	-93.58%	947.04%	-0.13%	120.90%	-54.73%	-88.69%	650.76%	179.90%	0.00%											-116.57%	-143.57%			2021.68%	-18.72%	-81.14%	-59.73%	757.67%	-88.34%	263.79%	-41.33%			-12.20%	16.73%	22.84%	-25.17%	31.28%	-23.83%	99.08%	168.93%	0.00%	-65.69%	-10.30%	10.20%	-2.29%	-96.50%	0.00%	1836.61%	143.28%	-32.74%			3512.21%	-46.09%	-94.37%			34.31%	-87.96%	316.11%	-75.43%	-5.29%	5.59%
net income margin %	45.29%	-63.86%	-45.06%	32.22%	-60.08%	24.16%	7.19%	1.78%	8.74%	11.51%	-12.34%	-9.16%	-203.85%	-42.27%	-111.93%	-99.14%	-49.82%	-60.55%	-25.42%	-49.61%	-113.83%	-130.44%	-136.53%	-109.80%	-15.39%	-235.44%	-127.55%	-291.97%	-88.08%	-166.91%	-97.33%	-148.60%	-54.74%	-41.90%	-103.87%	-180.07%	514.56%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	NaN%	NaN%	NaN%	Infinity%	NaN%	NaN%	NaN%	NaN%	-Infinity%	Infinity%	-Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	NaN%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%
other comprehensive income:
unrealized gains on investments, net of tax	-393,000	52,000	271,000	-85,000	252,000	-2,463,000	3,275,000	-339,000	-1,609,000	1,556,000	417,000	-636,000	1,245,000			-2,179,000				5,000	-6,000	-14,000	-12,000	-618,000	574,000
total other comprehensive income	-393,000	52,000	271,000	-85,000	252,000	-2,463,000	3,275,000	-339,000	-1,609,000	1,556,000	417,000	-636,000	1,245,000								-6,000	9,000	-12,000	-618,000	574,000	-25,000	-7,000	63,000	118,000	96,750	369,000	282,000	-264,000	27,000	26,000	17,000	65,000	27,750	-1,000	6,000	106,000	23,500	18,000	-2,000				24,000
comprehensive income	330,566,000	-282,795,000	-179,676,000	196,807,000	-447,256,000	156,586,000	36,886,000	6,121,000	34,510,000																							-108,985,000	-35,627,000			-63,029,000	84,155,000																-19,051,000		-14,805,000	-49,554,000	-17,704,000	-17,704,000
earnings per share:
basic	3.15	-2.76	-1.8	2.01	-4.6	1.67	0.35	0.07	0.38
diluted	2.88	-2.76	-1.8	1.89	-4.6	1.56	0.34	0.07	0.37
weighted-average number of shares of common stock used in computing earnings (loss) per share:
basic	104,988	100,120	100,237	98,005	97,362	95,075	95,390	94,618	93,991
diluted	121,916	100,120	100,237	106,623	97,362	107,875	100,448	99,144	99,114
restructuring charge		1,499,000	40,510,000
other income, net:
loss on debt extinguishment		-34,653,250	-138,613,000										-387,329,000		-125,441,000
other income		-22,188,000	47,953,000	38,061,000	-83,132,000	10,062,000	11,810,000	14,278,000	6,543,000	15,746,000	-12,332,000	16,934,000	12,707,000					-16,076,000	-20,649,000	-16,185,000	-15,528,000	-17,769,000	-14,335,000	-12,447,000	-7,420,000	-4,773,000	-2,510,000	-862,000		-4,167,750	-6,968,000	-5,218,000	-4,485,000
total other income		133,287,000	-90,660,000			10,062,000	11,810,000	14,278,000	6,543,000			118,934,000		5,527,000	-125,063,000	-16,961,000		-16,076,000	-13,449,000	85,815,000	-15,528,000	-17,769,000	-59,335,000	-12,447,000	100,649,000									-2,693,000	184,000	184,000	125,335,000	-119,500	-209,000	-201,000	-68,000	-229,000	-176,000	256,000	303,000	-576,500	4,449,000
weighted-average number of shares of common stock used in computing earnings per share:
basic	104,988	100,120	100,237	98,005	97,362	95,075	95,390	94,618	93,991
diluted	121,916	100,120	100,237	106,623	97,362	107,875	100,448	99,144	99,114
gain from sale of priority review voucher												102,000,000								102,000,000					108,069,000												125,000,000
collaboration										16,687,500	22,495,000	22,250,000	22,005,000	16,687,500	22,495,000	22,250,000	22,005,000	16,687,500	22,495,000	22,250,000	22,005,000	22,494,000	22,495,000	26,019,000	13,226,000
total other loss										-67,005,000	-12,332,000		-374,622,000				-17,265,000																															-3,603,000	-3,152,000	-11,432,500	-17,097,000
comprehensive loss										47,211,000	-40,520,000	-24,576,000	-515,510,000	-107,703,000	-258,458,000	-233,660,000	-105,311,000	-121,981,000	-48,166,000	-81,400,000	-167,256,000	-189,308,000	-196,511,000	-151,438,000	-16,918,000	-235,728,000	-126,333,000	-276,340,000	-76,525,000	-141,002,000	-76,024,000			-24,365,000	-47,708,000			-88,572,000	-56,743,000	-62,295,000	-59,664,000	-64,791,000	-51,921,000	-41,853,000	-61,481,000	-44,456,000	-29,247,000	-33,850,000	-28,332,000	-440,071,000	-42,030,000	-42,084,000		-42,084,000
net income per share										0.76	-0.46	-0.27	-5.86	-1.24	-2.94	-2.65	-1.2	-1.43	-0.6	-1.02	-2.1	-2.41	-2.5	-1.93	-0.23	-3.17	-1.7	-3.74	-1.07	-2.08	-1.15			-0.39	-0.78			-1.66	-1.18	-1.35	-1.31	-1.45	-1.25		-1.49	-1.08	-0.71	-0.85	-0.75	-0.793	-1.24	-1.32	-0.6	-1.32	-0.653	-2.17	-0.13	-0.13	-0.003	-0.03	-0.03	0.01	0.02	-0.055	-0.07	-0.07	-0.15	-0.01	0.06	-0.08		-0.23	-0.01	-0.01	-0.08	-0.23	-0.02	-0.23	-0.07	-0.13		-0.16	-0.18	-0.16	-0.13	-0.18	-0.13	-0.18	-0.09	-0.04	-0.04	-0.11	-0.13	-0.14	-0.14			-0.21	-0.09	-0.15			-0.13	-0.25			-0.4	-0.33	-0.253	-0.67
weighted-average number of shares of common stock used in computing basic and diluted net income per share											88,889							81,262	79,880	79,746	79,454	77,956	78,501	77,968	76,432	73,615	74,177	73,958	71,731		66,209
loss before income tax expense												-14,585,000	-512,710,000	-101,306,000	-256,418,000	-228,093,000	-104,146,000
weighted-average number of shares of common stock used in computing basic and diluted net loss per share										92,398		88,743	88,186	87,559	87,628	87,511	87,253
settlement and license charges																					10,000,000														25,588,000
gain on contingent consideration															6,700,000				7,200,000
other comprehensive loss:
unrealized losses on investments, net of tax														1,541,000	-720,000		-286,000	-5,750	-22,000
total other comprehensive loss														1,541,000	-720,000	-2,179,000	-286,000	-5,750	-22,000	5,000																										-40,000	-21,000		-59,000
other income:																																																																																																																3,081,794
income before income tax benefit																		-74,264,750	-47,907,000													-108,645,000
income tax benefit																		-65,000	237,000							711,000	226,000					622,000
income before income tax (benefit) expense																				-81,759,000	-167,393,000									-141,674,000	-77,067,000					-63,155,000
income tax (benefit) expense																				-354,000	-143,000									-779,000	-674,000					-109,000
acquired in-process research and development																												173,240,000																																																9,916,271		9,916,271																		19,545,028	19,545,028					19,545,028			19,545,028						19,545,028	19,545,028	19,545,028
loss on contingent consideration																							-45,000,000
product																										100,113,000	99,041,000	94,668,000	87,011,000	84,415,000	78,486,000	73,529,000	64,604,000	57,277,000	45,954,000	35,011,000	16,342,000
other loss:
other loss																										-886,000	-2,510,000	-862,000	-172,000
unrealized gains on investments																										-25,000	-7,000	63,000
interest expense and other																													-172,000
unrealized gain on cash equivalents and short-term investments																													118,000	96,750	369,000	282,000	-264,000	27,000	26,000
costs and expenses:
exondys 51 litigation and license charges																																				2,839,000
total costs and expenses																														105,221,000	148,585,000	176,956,000	95,343,000
interest income and other																														-4,167,750	-6,968,000	-5,218,000	-4,485,000	-2,693,000	184,000	184,000	335,000	-57,000	-209,000	-201,000	-68,000	-229,000	-176,000	256,000	303,000	306,000	193,000	181,000	99,000	9,568,000	63,000	237,000	-19,000	237,000	9,253,000	67,000	96,000	96,000	8,729,000	199,000	199,000	151,000	90,000	8,412,000	82,000	82,000	51,000	42,000					16,000
basic earnings per share																																-1.67	-0.55			-1.15	1.53
diluted earnings per share																																-1.67	-0.55			-1.15	1.5
weighted-average number of shares of common stock used in computing:
weighted-average number of shares of common stock outstanding for computing basic and diluted net income per share																																		58,818	61,528			48,697	48,254	46,157	45,697	42,290	41,565	41,357
unrealized gain on short-term securities - available-for-sale																																				17,000	65,000	27,750	-1,000	6,000	106,000	23,500	18,000	-2,000
weighted-average number of shares of common stock used in calculating:
revenues
operating expenses:
general and administrative																																						15,203,000	22,184,000	17,752,000	20,876,000	24,329,000	15,090,000	12,927,000	22,697,000	13,917,000	12,882,000	12,213,000	10,303,000	129,486,000	8,014,000	6,127,000	7,054,000	6,127,000	109,326,000	3,565,000	3,281,000	3,281,000	92,286,000	3,185,000	3,185,000	3,960,000	5,026,000	77,385,000	3,440,000	3,440,000	4,733,000	2,844,000	2,470,000	1,800,000		2,206,000	2,220,000	2,943,530	3,173,942	1,982,679	1,696,796	1,982,679	1,453,172	1,544,512		2,030,796	4,303,885	2,068,201	1,347,114	2,821,726	1,515,711	2,821,726	1,409,066	1,052,244	1,052,244	1,272,529	1,448,530	1,416,803	964,700	25,503,904	25,503,904	1,238,201	888,440	1,560,026		20,701,210	933,401	15,601,204	17,816,311		895,706	1,084,519	12,275,514	877,615	12,433,101	13,142,628	12,433,101
total operating expenses																																						44,583,750	56,533,000	62,100,000	59,702,000	65,705,000	51,763,000	42,107,000	61,862,000
revenue from research contracts and other grants																																														27,000	1,059,000	2,583,000
gain on change in warrant valuation																																														-694,750	4,256,000								-26,814,000	-42,716,000	-10,926,000	-10,926,000
loss on change in warrant valuation																																																-3,784,000	-3,251,000	-11,502,750	-17,160,000
loss per share — basic and diluted																																												-1.01
unrealized gain on available-for-sale securities																																													78,000			24,000
total other comprehensive gain																																													78,000
weighted-average number of common shares outstanding for computing basic and diluted net income per share																																													41,324				37,821			31,813		31,813
unrealized loss on available-for-sale securities																																														-13,750	-21,000		-59,000
weighted-average number of common stock outstanding for computing basic and diluted net income per share																																														40,026	41,066	39,862
revenue from license fees, grants and research contracts																																																	6,088,000
realized gain on sale of available-for-sale securities
write-down of available-for-sale securities
revenues from license fees, grants and research contracts																																																		176,174,000	4,168,000	4,474,000	2,951,000	4,474,000	143,555,000	7,574,000	11,212,000	11,212,000	102,814,000	7,524,000	7,524,000	11,585,000	14,296,000	75,326,000	8,702,000	8,702,000	3,997,000	1,205,000	5,141,000	6,349,000		2,945,000	3,150,000	5,479,912	5,170,663	5,624,617	4,982,963	5,624,617	5,186,319	2,911,406		2,351,424	536,042	17,519	13,252	65,962	18,558	65,962	1,417,446	3,281,805	3,281,805	39,317	45,192	285,588	9,151
realized gain on sale of short-term securities — available-for-sale
write-down of short-term securities — available-for-sale
unrealized loss on short-term securities — available-for-sale
weighted-average number of common shares outstanding for computing basic net income per share																																																			33,943
weighted-average number of common shares outstanding for computing diluted net income per share																																																			33,943
other non-operating income:
loss on change in warrant liability																																																				-26,906,000		-26,906,000
income on change in warrant valuation																																																					-1,945,000
weighted-average number of common shares outstanding for computing basic income per share																																																					31,984			22,824	135,743	135,743				134,090	112,482
weighted-average number of common shares outstanding for computing diluted income per share																																																					31,984			22,824	135,743	135,743				138,916	121,285
realized gain on sale of short-term securities— available-for-sale
write-down of short-term securities— available-for-sale
other income: - sum																																																							-9,971,000	-42,649,000																										303,568		443,042	492,083		517,053	457,859	121,739.25	225,169		215,725	46,063					220,226	4,062,382	75,887								79,851
unrealized loss on short-term securities— available-for-sale
other comprehensive income: - sum
realized gain on sale of short-term securities - available-for-sale
write-down of short-term securities - available-for-sale
unrealized loss on short-term securities - available-for-sale
increase on warrant valuation																																																											6,394,750	7,052,000	7,052,000	11,253,000	7,274,000					7,109,000
realized gain on sale of short-term securities—available-for-sale																																																																																																3,862,502	3,862,502
write-down of short-term securities—available-for-sale
net income and comprehensive loss																																																											-227,000	-4,020,000	-4,020,000			-6,133,250	-7,293,000	-7,293,000	-16,656,000
weighted-average number of common shares outstanding for computing basic and diluted loss per share																																																												135,738	135,738				111,767	111,767	110,383	110,429	93,090	95,261	93,090	85,664	80,759	69,491,475	71,150,972	65,321,986	70,985,520	65,321,986	53,942,015	53,693,693	53,942,015	53,560,360	53,241,730	52,660,711	52,964,049	51,715,050	52,946,054		44,655,008	44,184,293	44,184,293				36,123,790				29,808,539		29,808,539		26,567,968				26,353,017	23,442,127
realized gain on sale of short-term—securitiesavailable-for-sale
net income and comprehensive income																																																														1,279,000
(increase) decrease on warrant valuation
interest income and other loss
increase on warrant liability
operating expenses: - sum																																																																									6,715,000						8,309,532.5	11,424,992		11,191,612		8,789,748	7,285,981		7,437,640	9,584,971	3,994,390.75	5,199,445		5,187,684	5,590,434	5,222,461	5,131,909		142,259,942	7,852,189	7,293,791	5,093,894		114,752,171	3,739,296	85,439,750	102,975,441		8,119,801	8,133,639	70,037,145	3,652,594
gain on warrant liability																																																																									2,622,000	1,717,277			3,047,459		1,405,545	1,296,322
interest income																																																																										35,916	60,147	167,352	80,450	167,352	135,579	182,320		303,568	362,509	443,042	492,083	457,859	517,053	457,859	353,538	225,169	225,169	215,725	46,063	-53,381	15,792	4,736,599	4,736,599	220,226	296,630	75,887		4,060,192	62,556	3,639,384	3,783,580		111,207	79,851	2,608,443	271,939	2,842,879	96,750	2,842,879
weighted average number of common shares outstanding for computing basic and diluted loss per share																																																																																								51,715,050				44,167,565	42,455,512	35,994,976				35,610,687		31,186,464										23,122,839
revenues, from license fees, grants and research contracts																																																																																																4,787,029	4,787,029	99,451	135,181	414,352		4,101,774	257,923	3,013,863	3,512,235		197,691		2,433,864	307,549	2,154,535	2,241,799	2,154,535
realized gain on sale of short-term securities																																																																																																						96,750			96,750						96,750	3,178,544	96,750
write-down of short-term securities– available-for-sale
write-down of short-term securities–available-for-sale
revenues, from license fees, grants and
research contracts																																																																																																												237,695
write-down of short-term securities--available-for-sale
3,556,746																																																																																																															68,566,707		68,566,707
362,056																																																																																																															2,939,629		2,939,629
3,872,194																																																																																																																72,438,901

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-12-31	2001-09-30	2001-06-30	2001-03-31

assets
current assets:
cash and cash equivalents	464,450,000	801,282,000	613,077,000	510,598,000	240,867,000	1,103,010,000	197,855,000	383,622,000	427,290,000	428,430,000	541,932,000	851,929,000	871,668,000	966,777,000	1,038,624,000	868,565,000	1,233,877,000	2,115,869,000	1,599,113,000	1,697,275,000	1,481,836,000	1,502,648,000	1,474,637,000	1,639,959,000	1,764,212,000	835,080,000	724,829,000	808,591,000	732,190,000	370,829,000	209,702,000	410,375,000	557,234,000	599,691,000	617,630,000	168,348,000	274,723,000	122,420,000	395,140,000	111,819,000	38,001,000	80,304,000	55,819,000	69,538,000	74,436,000	73,551,000	52,299,000	102,754,000	49,101,000	256,965,000	273,644,000	156,185,000	167,919,000	187,661,000	37,987,000	24,491,000	30,573,000	39,904,000	46,356,000	54,188,000	23,283,000	33,589,000	35,967,000	36,742,000	41,438,000	48,275,000	50,268,000	20,037,000	24,723,000	11,192,238	14,081,213	18,509,474	19,960,809		3,861,272	9,263,512	14,964,915	20,159,201	25,578,248	31,764,383	36,867,301	34,597,734	27,556,780	27,346,075	34,356,842	16,654,829	12,341,849	11,044,909	8,687,362	12,524,915	6,530,024	9,078,341	7,171,723	10,384,963	12,588,881	13,445,102	29,885,643	11,069,451	24,612,518	28,132,365	22,001,736
short-term investments	188,739,000	138,368,000	237,916,000	289,541,000	281,895,000	251,782,000	1,000,534,000	1,076,852,000	963,453,000	1,247,820,000	1,191,610,000	1,008,786,000	1,010,429,000	1,022,597,000	1,033,860,000	1,059,454,000	779,548,000			30,000,000	255,997,000	435,923,000	341,467,000	421,349,000	406,940,000	289,668,000	324,063,000	294,478,000	612,018,000	803,083,000	583,158,000	538,769,000	491,757,000	479,369,000		132,598,000	115,590,000	195,425,000		11,396,000	91,155,000	112,187,000	44,090,000	87,349,000	91,787,000	136,793,000	183,718,000	176,785,000	176,091,000
accounts receivable	394,817,000	398,233,000	395,739,000	527,295,000	659,371,000	601,988,000	434,524,000	359,997,000	378,806,000	400,327,000	318,855,000	236,808,000	223,836,000	214,628,000	201,509,000	203,854,000	178,194,000	152,990,000	149,787,000	127,520,000	118,203,000	101,340,000	121,827,000	104,028,000	106,875,000	90,879,000	68,032,000	56,981,000	50,510,000	49,044,000	48,601,000	42,985,000	39,848,000	29,468,000	24,751,000	17,791,000	12,278,000	5,228,000	3,986,000	3,982,000	3,990,000	3,977,000	2,733,000	2,416,000	2,416,000	2,416,000	3,362,000	5,226,000	7,849,000	3,530,000	6,721,000	3,788,000	5,652,000	4,713,000	2,474,000	7,180,000	5,135,000	3,633,000	4,267,000	10,892,000	13,576,000	3,224,000	5,241,000	2,153,000	1,648,000	2,085,000	5,671,000	3,360,000	3,126,000	4,971,495	4,076,586	2,666,419	4,053,301		1,751,367	1,119,780	551,783	51,498	61,342	44,389	840,153	1,236,446
inventory	1,001,112,000	914,744,000	1,077,166,000	994,036,000	941,432,000	749,960,000	565,924,000	485,795,000	373,530,000	322,859,000	244,011,000	226,876,000	202,675,000	203,968,000	221,192,000	208,095,000	198,997,000	186,212,000	288,469,000	268,756,000	240,333,000	231,961,000	220,118,000	179,650,000	173,168,000	171,379,000	166,360,000	156,569,000	140,467,000	125,445,000	115,816,000	104,126,000	99,375,000	83,605,000	64,693,000	41,754,000	30,445,000	12,813,000	2,921,000
manufacturing-related deposits and prepaids	72,785,000	113,455,000	206,062,000	207,921,000	203,490,000	276,262,000	321,055,000	302,627,000	238,821,000
other current assets	187,973,000	171,856,000	192,349,000	127,594,000	105,478,000	90,461,000	165,477,000	74,743,000	82,965,000	179,895,000	154,441,000	148,215,000	179,769,000	149,891,000	130,744,000	129,332,000	140,331,000	149,028,000	147,941,000	141,666,000	174,981,000	213,324,000	164,624,000	114,435,000	96,153,000	81,907,000	79,015,000	110,799,000	136,238,000	77,782,000	54,800,000	42,989,000	31,203,000	36,511,000	27,033,000	28,565,000	22,742,000	26,895,000	22,002,000	15,302,000	16,885,000	17,380,000	19,466,000	23,091,000	24,410,000	35,036,000	26,436,000	15,906,000	9,079,000	3,061,000	2,807,000	5,683,000	3,023,000	1,534,000	1,698,000	1,561,000	1,924,000	1,647,000	1,322,000	943,000	1,636,000	1,025,000	1,106,000	1,037,000	891,000	779,000	839,000	764,000	645,000	598,562	1,222,654	1,093,968	1,075,033		952,987	775,179	709,486	736,283	802,973	583,500	480,547	365,866	542,528	244,696	283,117	683,075	698,789	474,316	747,645	791,383	654,738	437,275	349,369	595,093	54,987	84,829	276,046	198,923	1,048,590	1,131,114	858,192
total current assets	2,309,876,000	2,537,938,000	2,722,309,000	2,656,985,000	2,432,533,000	3,073,463,000	2,685,369,000	2,683,636,000	2,464,865,000	2,579,331,000	2,450,849,000	2,472,614,000	2,488,377,000	2,557,861,000	2,625,929,000	2,469,300,000	2,530,947,000	2,604,099,000	2,185,310,000	2,265,217,000	2,271,350,000	2,485,196,000	2,322,673,000	2,459,421,000	2,547,348,000	1,468,913,000	1,362,299,000	1,427,418,000	1,671,423,000	1,426,183,000	1,012,077,000	1,139,244,000	1,219,417,000	1,228,644,000	735,608,000	390,585,000	457,307,000	373,476,000	434,744,000	153,194,000	160,726,000	224,543,000	122,108,000	182,394,000	193,049,000	247,796,000	269,815,000	304,671,000	249,370,000	270,806,000	290,422,000	172,906,000	176,594,000	193,908,000	42,159,000	33,232,000	37,632,000	45,184,000	51,945,000	66,023,000	38,495,000	37,838,000	42,314,000	39,932,000	44,149,000	51,310,000	56,947,000	24,329,000	28,779,000	17,044,357	19,659,981	22,546,479	25,363,352		16,754,113	21,215,260	28,307,380	33,939,913	39,289,335	45,101,376	50,767,209	48,653,394	31,499,939	32,430,934	37,474,609	20,198,391	23,803,614	29,648,455	37,157,224	38,390,519	28,314,248	30,777,764	12,581,400	20,401,988	23,029,158	30,265,576	38,101,374	27,511,076	28,818,281	35,859,956	27,478,134
property and equipment	336,241,000	345,125,000	358,936,000	371,857,000	360,587,000	340,336,000	305,788,000	276,200,000	249,302,000	227,154,000	212,367,000	188,874,000	182,862,000	180,037,000	181,005,000	183,292,000	187,248,000	191,156,000	199,249,000	203,330,000	203,107,000	190,430,000	171,715,000	153,340,000	137,325,000	129,620,000	119,532,000	117,201,000	106,280,000	97,024,000	76,841,000	57,624,000	53,927,000	43,156,000	38,872,000	39,393,000	38,412,000	37,801,000	35,620,000	36,158,000	36,982,000	37,344,000	37,379,000	37,196,000	37,759,000	38,501,000	37,178,000	20,163,000	20,130,000	15,049,000	8,244,000	3,359,000	3,088,000	3,397,000	3,661,000	3,898,000	4,105,000	4,265,000	2,445,000	2,363,000	2,111,000	2,070,000	2,155,000	2,184,000	2,361,000	2,466,000	2,102,000	4,758,000	4,934,000	5,188,984	6,277,736	6,474,073	6,677,465		7,099,321	7,189,503	4,103,482	4,329,583	4,745,658	4,935,608	5,153,921	5,599,269	5,887,787	6,007,775	6,143,778	6,313,644	6,588,211	6,565,275	6,772,417	7,008,426	7,006,378	7,102,076	7,065,747	6,584,290	6,051,657	5,667,841	5,525,914	4,897,788	3,177,334	2,423,962	1,993,383
right of use assets	124,059,000	125,495,000	139,167,000	143,041,000	147,063,000	148,310,000	140,898,000	124,001,000	126,269,000	129,952,000	133,454,000	134,728,000	62,016,000	64,954,000	43,034,000	46,999,000	45,982,000	45,531,000	72,663,000	72,868,000	65,068,000	91,761,000	71,085,000	74,197,000	63,097,000	37,933,000
non-current inventory	174,865,000	184,543,000	198,601,000	194,668,000	181,158,000	187,986,000	202,550,000	204,691,000	207,542,000	191,368,000	176,112,000	166,635,000	164,144,000
non-current investments	81,936,000	1,048,000	1,040,000	34,604,000	109,125,000	133,163,000	181,770,000
other non-current assets	151,957,000	155,554,000	73,384,000	83,137,000	80,551,000	79,915,000	83,559,000	135,729,000	176,407,000	136,771,000	136,925,000	163,039,000	162,387,000	317,936,000	293,124,000	284,200,000	278,649,000	292,949,000	190,792,000	203,553,000	211,584,000	203,703,000	201,847,000	182,980,000	186,805,000	173,859,000									10,988,000	11,582,000	7,346,000		8,051,000	6,942,000	8,145,000
total assets	3,178,934,000	3,349,703,000	3,493,437,000	3,679,814,000	3,465,387,000	3,963,173,000	3,599,934,000	3,424,257,000	3,224,385,000	3,264,576,000	3,109,707,000	3,125,890,000	3,059,786,000	3,128,366,000	3,156,149,000	2,996,853,000	3,056,154,000	3,147,974,000	2,662,218,000	2,759,073,000	2,765,233,000	2,984,718,000	2,780,664,000	2,883,043,000	2,947,388,000	1,822,822,000	1,702,470,000	1,747,753,000	1,963,895,000	1,642,075,000	1,182,906,000	1,247,160,000	1,300,283,000	1,307,964,000	800,281,000	450,139,000	511,533,000	424,104,000	487,310,000	204,068,000	213,364,000	273,782,000	184,751,000	231,710,000	242,708,000	295,033,000	319,058,000	337,309,000	275,389,000	291,569,000	304,479,000	183,633,000	193,340,000	204,993,000	53,082,000	42,101,000	46,647,000	54,368,000	61,083,000	74,933,000	47,031,000	45,976,000	50,860,000	48,667,000	52,825,000	60,027,000	65,123,000	32,617,000	37,017,000	25,535,828	29,514,946	32,578,172	35,479,866	38,637,930	26,864,835	31,208,514	35,307,047	40,862,746	46,542,091	52,384,016	58,119,048	56,407,982	39,516,477	40,542,949	45,698,213	28,518,631	32,373,194	38,142,082	45,801,796	47,145,023	37,115,097	39,624,493	21,332,738	28,603,757	30,743,002	37,531,705	45,137,124	33,815,113	33,140,200	39,372,503	30,456,128
liabilities and stockholders’ equity
current liabilities:
accounts payable	70,376,000	280,841,000	94,015,000	136,702,000	156,105,000	214,442,000	118,774,000	107,417,000	91,536,000	164,918,000	87,948,000	109,796,000	106,710,000	95,875,000	118,461,000	56,207,000	54,007,000	76,741,000	44,163,000	76,681,000	76,651,000	111,090,000	74,528,000	91,660,000	26,595,000	68,094,000	81,946,000	44,045,000	26,499,000	33,829,000	20,408,000	17,382,000	17,379,000	8,467,000	5,317,000	10,921,000	27,446,000	29,690,000	20,684,000	17,133,000	18,673,000	20,234,000	7,431,000	14,095,000	9,318,000	12,408,000	967,000	1,309,000	7,721,000	17,634,000	8,129,000	6,727,000	7,073,000	7,532,000	4,334,000	8,813,000	8,195,000	9,396,000	7,899,000	10,975,000	6,484,000	1,311,000	4,945,000	2,369,000	1,761,000	1,381,000	4,303,000	1,506,000	1,279,000	2,014,130	3,258,153	2,325,242	3,367,551		5,274,320	2,348,603	1,889,929	1,401,584	1,155,961	1,288,154	1,250,512	1,861,604	1,641,261	1,256,438	1,574,051	1,456,196	737,067	1,608,139	1,781,403	3,052,932	1,818,783	810,896	1,129,451	4,540,745	4,470,096	3,553,066	4,248,305	2,772,434	1,149,919	1,245,126	1,217,702
accrued expenses	302,372,000	359,659,000	295,793,000	377,399,000	391,650,000	373,513,000	344,830,000	350,404,000	283,317,000	314,997,000	322,350,000	326,877,000	345,554,000	418,996,000	368,998,000	383,699,000	293,908,000	271,697,000	221,009,000	240,141,000	180,636,000	193,553,000	199,063,000	159,088,000	176,298,000	185,527,000	121,663,000	107,328,000	100,120,000	134,095,000	88,687,000	72,477,000	65,648,000	68,982,000	55,752,000	39,179,000	31,157,000	31,016,000	29,539,000	35,064,000	24,277,000	29,053,000	19,761,000	15,184,000	15,039,000	17,366,000	14,824,000	13,839,000	16,340,000
deferred revenue, current portion	116,037,000	443,397,000	485,449,000	395,431,000	44,859,000	130,256,000	127,001,000	122,036,000	112,000,000	50,416,000	22,494,000	44,989,000	67,239,000	89,244,000	89,244,000	89,244,000	89,244,000	89,244,000	89,244,000	89,244,000	89,244,000	89,244,000	89,244,000	89,311,000	91,073,000
other current liabilities	10,379,000	11,393,000	10,168,000	10,416,000	12,974,000	13,473,000	17,289,000	17,128,000	16,270,000		17,951,000	16,992,000	17,381,000	15,489,000	26,213,000	16,416,000	17,803,000	15,051,000	19,027,000	18,956,000	18,205,000	22,139,000	15,553,000	14,837,000	12,463,000	11,146,000	8,944,000	7,413,000	6,762,000	2,463,000	1,995,000	2,011,000	4,723,000	1,392,000	1,366,000	1,340,000	1,377,000	1,305,000	1,300,000	1,324,000	1,303,000	1,275,000	1,283,000	1,372,000						888,000	15,000	15,000
total current liabilities	499,164,000	1,095,290,000	921,425,000	919,948,000	605,588,000	731,684,000	699,489,000	688,490,000	608,709,000	653,659,000	450,743,000	498,654,000	536,884,000	619,604,000	602,916,000	545,566,000	454,962,000	452,733,000	373,443,000	425,022,000	364,736,000	416,026,000	378,388,000	354,896,000	306,429,000	264,767,000	215,856,000	162,089,000	137,366,000	173,690,000	114,393,000	104,687,000	91,196,000	88,332,000	70,470,000	65,960,000	74,629,000	75,422,000	64,933,000	66,930,000	55,160,000	62,294,000	37,667,000	38,962,000	33,906,000	36,867,000	22,726,000	29,404,000	37,758,000	35,966,000	51,101,000	92,433,000	103,659,000	78,886,000	55,200,000	17,131,000	29,923,000	20,601,000	26,531,000	36,938,000	43,220,000	45,857,000	43,765,000	37,268,000	26,341,000	33,507,000	43,059,000	26,288,000	11,616,000	7,287,576	10,666,058	8,826,906	12,141,612		9,550,330	4,886,894	4,346,755	3,150,845	2,182,879	2,264,821	2,209,804	2,747,973	2,522,589	1,926,660	2,277,914	2,249,598	1,349,437	2,166,913	2,750,411	3,750,993	2,308,872	1,296,276	1,619,953	5,122,134	4,915,861	3,955,415	4,719,853	3,281,066	1,581,630	1,614,158	1,617,801
long-term debt	838,162,000	828,974,000	1,035,146,000	1,139,458,000	1,138,289,000	1,137,124,000	1,135,965,000	1,134,810,000	1,133,660,000	1,132,515,000	1,236,755,000	1,235,517,000	1,234,284,000	1,544,292,000	1,542,770,000	1,100,873,000	1,098,847,000	1,096,876,000	1,094,912,000	1,092,985,000	1,091,110,000	992,493,000	700,470,000	694,156,000	687,953,000	681,900,000	436,421,000	431,040,000	425,752,000	420,554,000	415,446,000	429,925,000	427,365,000	424,876,000	26,550,000		2,343,000	6,042,000	8,491,000	10,111,000	13,373,000	14,969,000	17,397,000	20,652,000	1,450,000	1,476,000	1,501,000	1,525,000	1,551,000	1,576,000	1,599,000		1,645,000
lease liabilities, net of current portion	198,505,000	199,378,000	215,042,000	214,419,000	205,460,000	192,473,000	170,009,000	143,601,000	140,102,000	140,965,000	134,752,000	129,170,000	53,931,000	57,578,000	35,229,000	39,368,000	38,620,000	41,512,000	63,428,000	65,285,000	60,675,000	80,367,000
deferred revenue, net of current portion	136,354,000	83,910,000			325,000,000	325,000,000	325,000,000	325,000,000	325,000,000	437,000,000	485,000,000	485,000,000	485,000,000	485,000,000	507,494,000	529,989,000	552,239,000	574,244,000	596,738,000	619,233,000	641,483,000	663,488,000	685,982,000	708,476,000	732,667,000
other non-current liabilities	1,647,000	1,529,000	1,404,000	1,204,000	927,000	1,750,000	1,000,000	7,087,000	7,522,000	3,000,000		38,000	38,000	42,000		11,000,000	11,000,000	11,000,000	20,569,000	20,640,000	20,984,000	19,785,000	5,048,000	10,248,000	10,248,000	10,248,000
total liabilities	1,673,832,000	2,209,081,000	2,173,317,000	2,322,429,000	2,322,664,000	2,435,431,000	2,378,863,000	2,347,188,000	2,263,193,000	2,405,239,000	2,345,350,000	2,384,479,000	2,347,037,000	2,743,416,000	2,725,309,000	2,270,396,000	2,199,268,000	2,219,965,000	2,192,690,000	2,273,965,000	2,229,788,000	2,222,959,000	1,888,617,000	1,840,177,000	1,802,560,000	1,004,635,000	707,266,000	648,586,000	615,331,000	609,799,000	543,058,000	548,113,000	523,523,000	518,747,000	103,125,000	72,367,000	82,391,000	87,413,000	78,686,000	82,608,000	74,402,000	83,435,000	61,515,000	66,334,000	41,949,000	47,380,000	32,854,000	37,388,000	46,427,000	44,377,000	57,495,000	94,812,000	106,059,000
commitments and contingencies
stockholders’ equity:
preferred stock, 0.0001 par value...
common stock, 0.0001 par value...	11,000	11,000	11,000	10,000	10,000	10,000	10,000	10,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000	9,000		8,000	8,000	8,000		8,000	8,000	8,000		7,000	7,000	7,000		7,000	7,000	7,000		6,000	6,000	5,000		5,000
treasury stock	-25,263,000	-25,263,000	-25,263,000	-25,263,000
additional paid-in capital	6,076,500,000	6,042,586,000	5,986,689,000	5,844,279,000	5,801,161,000	5,738,924,000	5,588,839,000	5,481,723,000	5,371,968,000	5,304,623,000	5,256,854,000	5,193,388,000	5,140,150,000	4,296,841,000	4,235,028,000	4,272,187,000	4,168,956,000	4,134,768,000	3,554,307,000	3,521,721,000	3,490,658,000	3,609,877,000	3,550,857,000	3,505,165,000	3,455,689,000	3,112,130,000	3,053,420,000	3,031,050,000	3,004,107,000	2,611,294,000	2,077,864,000	2,061,039,000	2,029,767,000	2,006,598,000	1,890,172,000	1,523,080,000	1,511,422,000	1,503,126,000	1,486,487,000	1,142,580,000	1,097,787,000	1,089,508,000	957,607,000	947,826,000	941,356,000	926,769,000	920,864,000	905,335,000	800,526,000	790,424,000	781,396,000	581,204,000	560,613,000	554,927,000	364,616,000	342,128,000	341,677,000	340,968,000	340,293,000	339,669,000	306,722,000	304,818,000	304,154,000	301,139,000	299,515,000	299,088,000	298,487,000	274,684,000	274,118,000	266,034,912	265,501,292	264,358,554	262,151,126		237,450,696	246,190,431	244,382,818	241,409,421	239,726,657	238,708,122	237,598,487	226,290,167	205,086,142	205,016,072	204,887,443	182,370,440	182,297,550	182,271,542	182,193,651	174,875,072	160,447,475	160,328,641	139,353,220	139,327,069	138,673,867	138,691,885	138,302,391	116,711,776	116,387,745	116,075,119	105,587,511
accumulated other comprehensive income, net of tax	-121,000	272,000	220,000		34,000	-218,000	2,245,000	-1,030,000	-691,000	918,000								-20,000	-20,000	2,000	-3,000	3,000	-6,000	6,000	624,000	50,000
accumulated deficit	-4,546,025,000	-4,876,984,000	-4,641,537,000	-4,461,590,000	-4,658,482,000	-4,210,974,000	-4,370,023,000	-4,403,634,000	-4,410,094,000	-4,446,213,000	-4,491,868,000	-4,450,931,000	-4,426,991,000	-3,910,236,000	-3,800,992,000	-3,543,254,000	-3,311,773,000	-3,206,748,000	-3,084,767,000	-3,036,623,000	-2,955,218,000	-2,848,129,000	-2,658,812,000	-2,462,313,000	-2,311,493,000	-2,294,001,000	-2,058,298,000	-1,931,972,000	-1,655,569,000	-1,578,926,000	-1,438,031,000	-1,361,638,000	-1,252,371,000	-1,217,008,000	-1,193,010,000	-1,145,276,000	-1,082,230,000	-1,166,320,000	-1,077,868,000	-1,021,126,000	-958,825,000	-899,055,000	-834,374,000	-782,435,000	-740,584,000	-679,025,000	-634,609,000	-605,383,000
total stockholders’ equity	1,505,102,000	1,140,622,000	1,320,120,000	1,357,385,000	1,142,723,000	1,527,742,000	1,221,071,000	1,077,069,000	961,192,000	859,337,000	764,357,000	741,411,000	712,749,000	384,950,000	430,840,000	726,457,000	856,886,000	928,009,000	469,528,000	485,108,000	535,445,000	761,759,000	892,047,000	1,042,866,000	1,144,828,000	818,187,000	995,204,000	1,099,167,000	1,348,564,000	1,032,276,000	639,848,000	699,047,000	776,760,000	789,217,000	697,156,000	377,772,000	429,142,000	336,691,000	408,624,000	121,460,000	138,962,000	190,347,000	123,236,000	165,376,000	200,759,000	247,653,000	286,204,000	299,921,000	228,962,000	247,192,000	246,984,000	88,821,000
total liabilities and stockholders’ equity	3,178,934,000	3,349,703,000	3,493,437,000	3,679,814,000	3,465,387,000	3,963,173,000	3,599,934,000	3,424,257,000	3,224,385,000	3,264,576,000	3,109,707,000	3,125,890,000	3,059,786,000	3,128,366,000	3,156,149,000	2,996,853,000	3,056,154,000	3,147,974,000	2,662,218,000	2,759,073,000	2,765,233,000	2,984,718,000	2,780,664,000	2,883,043,000	2,947,388,000	1,822,822,000	1,702,470,000	1,747,753,000	1,963,895,000	1,642,075,000	1,182,906,000	1,247,160,000	1,300,283,000	1,307,964,000	800,281,000	450,139,000	511,533,000	424,104,000	487,310,000	204,068,000	213,364,000	273,782,000	184,751,000	231,710,000	242,708,000	295,033,000	319,058,000	337,309,000	275,389,000	291,569,000	304,479,000	183,633,000
contingent consideration				47,400,000	47,400,000	47,400,000	47,400,000	48,200,000	48,200,000	38,100,000	38,100,000	36,100,000	36,900,000	36,900,000	36,900,000	43,600,000	43,600,000	43,600,000	43,600,000	50,800,000	50,800,000	50,800,000	50,500,000
contingent consideration, current portion			36,000,000
contingent consideration, net of current portion			300,000
strategic investments				195,522,000	154,370,000
accumulated other comprehensive loss, net of tax				-51,000							-638,000	-1,055,000	-419,000	-1,664,000	-3,205,000	-2,485,000	-306,000
current portion of long-term debt							91,595,000	91,505,000	105,586,000	105,483,000																						9,514,000	3,446,000	6,175,000	4,732,000	11,217,000	11,346,000	10,108,000	10,107,000	10,106,000	7,604,000	5,936,000	3,435,000	100,000	99,000	98,000	97,000	96,000	94,000	92,000	91,000
current portion of lease liabilities										17,845,000
intangible assets														7,578,000	13,057,000	13,062,000	13,328,000	14,239,000	14,204,000	14,105,000	14,124,000	13,628,000	13,344,000	13,105,000	12,813,000	12,497,000
preferred stock, .0001 par value...
common stock, .0001 par value...																		9,000				8,000				8,000				7,000				6,000				5,000		5,000	5,000	5,000	4,000	4,000	4,000	4,000	4,000	4,000	4,000	4,000	4,000	3,000	3,000	3,000	2,000	2,000	13,000	13,000	13,000	14,000	11,000	11,000	11,000	11,000	11,000	11,000	11,000	9,000	9,000	7,110	7,116	7,109	7,043		5,373	5,365	5,328	5,318	5,297	5,296	5,293	5,118	4,418	4,418	4,415	3,614	3,612	3,612	3,609	3,447	3,121	3,118	2,657	2,656	2,645	2,644	2,632	2,322	2,316	2,307	2,153
lease liabilities																							68,229,000	72,401,000	65,263,000	47,720,000	49,741,000	50,209,000	52,165,000
intangible assets, net of accumulated amortization of 5,091 and 3,852 as of september 30, 2019, and december 31, 2018, respectively																											11,975,000
right of use asset																											39,493,000	39,449,000
other assets																											169,171,000	151,860,000	133,313,000		78,664,000	35,435,000	12,466,000					3,967,000				4,470,000	7,670,000	5,313,000	5,275,000	2,063,000	5,729,000	6,441,000	25,000	25,000	25,000	1,625,000	1,525,000	2,775,000	2,425,000	231,000	206,000	155,000	139,000	123,000	386,000	123,000	111,000	111,000	111,000	120,000	121,000	78,000	35,000	34,709	34,709	34,709	34,709		34,709	34,709	284,709	34,709	34,709	34,709	34,709	37,609	37,609	37,609	37,609	37,609	34,709	34,709	29,847	29,847	29,847	29,847	29,847	29,847	29,847	29,847	29,847	29,847	29,847	29,847	29,847
deferred revenue																											3,303,000	3,303,000	3,985,000	3,303,000	3,303,000	3,303,000		3,316,000	3,303,000	3,303,000	3,303,000	3,303,000	3,303,000	3,303,000	3,303,000	3,303,000	3,303,000	3,303,000	3,363,000	3,318,000	3,362,000	3,303,000	3,303,000	3,299,000	3,963,000	4,499,000	3,884,000	3,304,000	3,304,000	3,304,000	3,304,000	3,304,000	3,304,000	3,304,000	3,304,000	3,304,000	3,335,000	3,366,000	3,409,000	3,428,000	2,096,000	2,128,000	2,159,000	2,190,000	2,243,750	2,275,000	1,596,250
deferred rent and other																											5,248,000	5,248,000	48,000	15,555,000	13,219,000	13,501,000	4,962,000	5,539,000	6,105,000	6,407,000	5,419,000	5,949,000	5,262,000	5,567,000	5,869,000	6,172,000	6,451,000	6,720,000
accumulated other comprehensive income																											75,000	82,000	19,000		8,000									1,000																																					16,377	18,418	19,327	17,200	14,858	12,968									2,454,087	1,491,261	353,783	729,956		414,720		1,038,956			-13,278,794
intangible assets, net of accumulated amortization of 4,685 and 3,852 as of june 30, 2019, and december 31, 2018, respectively																												11,825,000
intangible assets, net of accumulated amortization of 4,276 and 3,852 as of march 31, 2019, and december 31, 2018, respectively																													11,781,000
right of use asset, net of accumulated amortization of 1,491 and nil as of march 31, 2019 and december 31, 2018, respectively																													41,098,000
intangible assets, net of accumulated amortization of 3,852 and 4,145 as of december 31, 2018 and 2017, respectively																														11,574,000
investments and other assets																														107,294,000				21,809,000
accumulated other comprehensive loss																														-99,000		-361,000	-643,000	-379,000	-12,000	-38,000	-55,000	-120,000			-5,000	-111,000	-1,000		-17,000	-95,000	-55,000	-35,000	-59,000
intangible assets, net of accumulated amortization of 5,532 and 4,145 as of september 30, 2018, and december 31, 2017, respectively																															15,324,000
intangible assets, net of accumulated amortization of 5,100 and 4,145 as of june 30, 2018 and december 31, 2017, respectively																																14,857,000
intangible assets, net of accumulated amortization of 4,659 and 4,145 as of march 31, 2018 and december 31, 2017, respectively																																	14,473,000
restricted investment																																						10,695,000	10,695,000	10,695,000	10,695,000	10,695,000
intangible assets, net of accumulated amortization of 4,145 and 3,134 as of december 31, 2017 and 2016, respectively																																		14,355,000
asset held for sale																																			1,501,000	1,529,000	1,529,000
restricted cash and investments																																			784,000	784,000	784,000	784,000	784,000	783,000	783,000	783,000	11,478,000	783,000	783,000	782,000
intangible assets, net of accumulated amortization of 3,762 and 3,134 as of september 30, 2017 and december 31, 2016, respectively																																			14,029,000
intangible assets, net of accumulated amortization of 2,862 and 3,134 as of june 30, 2017 and december 31, 2016, respectively																																				7,795,000
intangible assets, net of accumulated amortization of 2,758 and 3,134 as of march 31, 2017 and december 31, 2016, respectively																																					7,684,000
intangible assets, net of accumulated amortization of 3,134 and 2,620 as of december 31, 2016 and 2015, respectively																																						8,076,000
current portion of notes payable																																										2,493,000	2,454,000	4,908,000	4,831,000	2,492,000	2,415,000
intangible assets, net of accumulated amortization of 3,054 and 2,620 as of september 30, 2016 and december 31, 2015, respectively																																							8,111,000
patent costs, net of accumulated amortization of 2,903 and 2,620 as of june 30, 2016 and december 31, 2015, respectively																																								6,991,000
patent costs, net of accumulated amortization of 2,774 and 2,620 as of march 31, 2016 and december 31, 2015, respectively																																									6,728,000
patent costs, net of accumulated amortization of 2,620 and 2,081 as of december 31, 2015 and 2014, respectively																																										6,642,000
notes payable																																														2,262,000	2,262,000
patent costs, net of accumulated amortization of 2,486 and 2,081 as of september 30, 2015 and december 31, 2014, respectively																																											6,116,000
patent costs, net of accumulated amortization of 2,353 and 2,081 as of june 30, 2015 and december 31, 2014, respectively																																												6,024,000
unrealized loss																																												-19,000
patent costs, net of accumulated amortization of 2,216 and 2,081 as of march 31, 2015 and december 31, 2014, respectively																																													5,842,000
other liabilities																																													1,256,000	1,185,000	1,061,000	1,031,000	1,087,000				15,000	27,000	85,000	107,000	114,000	126,000	105,000	85,000	69,000	35,000	64,000	77,000	98,000	90,000	86,000	217,000	324,000	450,160	435,086	143,835	237,585		1,238,152	1,336,821	1,435,490	377,908	346,037	314,167	237,904
deferred rent																																													6,593,000	6,775,000	6,365,000
restricted investments																																															4,000,000	4,000,000	7,250,000	7,250,000	7,250,000	7,250,000	7,250,000
patent costs, net of accumulated amortization of 2,081 and 1,622 as of december 31, 2014 and 2013, respectively																																														5,891,000
warrant liability																																																9,826,000	9,213,000	9,006,000	35,994,000	79,116,000	91,077,000															21,387,000	6,815,000	1,253,580	2,970,857	2,801,882	5,849,341		1,642,246
patent costs, net of accumulated amortization of 1,972 and 1,622 as of september 30, 2014 and december 31, 2013, respectively																																															5,689,000
patent costs, net of accumulated amortization of 1,853 and 1,622 as of june 30, 2014 and december 31, 2013, respectively																																																5,387,000
deferred rent and other long-term liabilities																																																6,459,000	7,118,000	6,835,000
patent costs, net of accumulated amortization of 1,740 and 1,622																																																	5,217,000
deficit accumulated during the development stage																																																	-571,509,000	-543,236,000	-534,416,000	-492,386,000	-473,335,000	-431,251,000	-369,184,000	-319,630,000	-327,668,000	-309,964,000	-308,554,000	-304,534,000	-305,813,000	-307,646,000																																							-63,472,543
patent costs, net of accumulated amortization of 1,622 and 2,626																																																		5,042,000
accrued employee compensation																																																		5,047,000	2,909,000	1,986,000	1,520,000	2,741,000	2,180,000	1,936,000	1,852,000	2,244,000	2,250,000	2,551,000	2,088,000	2,015,000	2,223,000	1,837,000	495,000	922,000	1,098,000	974,000	964,000	1,305,829	1,684,540	1,208,143	1,064,891		1,325,351	1,132,036	1,021,336	1,371,353	680,881	662,500	721,388	886,369		670,222	703,863	793,402	612,370	558,774	969,008	698,061	490,089	485,380	490,502	581,389	445,765	402,349	471,548	508,632	431,711	369,032	400,099
patent costs, net of accumulated amortization of 1,538 and 2,626																																																			5,231,000
other long-term liabilities																																																			4,795,000	757,000	755,000	760,000	758,000	757,000	967,000	993,000	1,022,000	1,046,000	1,070,000	1,094,000	1,069,000	1,075,000	1,108,000	966,000	610,000	579,000	530,000	515,621	495,002	474,385	453,767
patent costs, net of accumulated amortization of 1,439 and 2,626																																																				5,186,000
long-term debt, current portion																																																				90,000	90,000	89,000	88,000	87,000	86,000	85,000	84,000	83,000	82,000	81,000	80,000	79,000	78,000	77,000	76,000	76,000	75,000	73,877	73,672	72,804	25,994		70,261	69,434
long-term debt, non-current portion																																																				1,622,000		1,668,000	1,690,000	1,713,000	1,735,000	1,757,000	1,778,000	1,800,000	1,821,000	1,842,000	1,863,000	1,883,000	1,903,000	1,924,000	1,950,000	1,962,000	1,981,000	2,000,789	2,015,124	2,033,871	2,098,349		2,088,797	2,106,675
patent costs, net of accumulated amortization of 1,534 and 2,626																																																					4,883,000
liabilities and shareholders’ equity
shareholders’ equity:
total shareholders’ equity																																																					87,281,000	123,679,000	-4,566,000	22,500,000	14,022,000		31,752,000	35,149,000	920,000	-2,817,000	4,163,000	8,441,000		23,630,000	19,504,000	3,788,000	22,890,000	15,731,842	16,338,762	21,243,010	20,786,138		15,225,708	24,214,945	30,960,292	37,711,901	44,359,212	50,119,195	55,909,244	53,660,009	36,993,888	38,616,289	43,420,299	26,269,033	31,023,757	35,975,169	43,051,385	43,394,030	34,806,225	38,328,217			25,827,141	33,576,290	40,417,271
total liabilities and shareholders’ equity																																																					193,340,000	204,993,000	53,082,000	42,101,000	46,647,000		61,083,000	74,933,000	47,031,000	45,976,000	50,860,000	48,667,000		60,027,000	65,123,000	32,617,000	37,017,000	25,535,828	29,514,946	32,578,172	35,479,866		26,864,835	31,208,514	35,307,047	40,862,746	46,542,091	52,384,016	58,119,048	56,407,982	39,516,477	40,542,949	45,698,213	28,518,631	32,373,194	38,142,082	45,801,796	47,145,023	37,115,097	39,624,493			30,743,002	37,531,705	45,137,124
patent costs, net of accumulated amortization of 2,626 and 2,199																																																						4,913,000
warrant valuation																																																						65,193,000	45,209,000	2,884,000	16,372,000	5,446,000	12,889,000	19,940,000	31,193,000	39,111,000	33,118,000	29,540,000	20,500,000	27,609,000	35,400,000
patent costs, net of accumulated amortization of 2,521 and 2,199																																																							4,837,000
patent costs, net of accumulated amortization of 2,413 and 2,199																																																								4,740,000
patent costs, net of accumulated amortization of 2,298 and 2,199																																																									4,704,000
property held for sale																																																											1,856,000	1,965,000	1,965,000	1,965,000	1,979,000	2,372,000	2,372,000	2,372,000
patent costs, net of accumulated amortization of 2,199 and 1,742																																																										4,764,000
liabilities and shareholders' equity
shareholders' equity
total shareholders' equity																																																										31,017,000							23,473,000																												19,712,785	23,481,623				30,534,047	31,558,570	37,758,345	28,838,327
total liabilities and shareholders' equity																																																										54,368,000							52,825,000																												21,332,738	28,603,757				33,815,113	33,140,200	39,372,503	30,456,128
patent costs, net of accumulated amortization of 1,901 and 1,742																																																											4,698,000
shareholders’ equity																																																																										26,381,748
patent costs, net of accumulated amortization of 1,845 and 1,742																																																												4,459,000
patent costs, net of accumulated amortization of 1,790 and 1,742																																																													4,074,000
patent costs, net of accumulated amortization of 1,742 and 1,762																																																														3,980,000
patent costs, net of accumulated amortization of 1,870 and 1,762																																																															4,301,000
patent costs, net of accumulated amortization of 1,829 and 1,762																																																																4,068,000
short-term securities —available-for-sale																																																																	172,000
patent costs, net of accumulated amortization of 1,787 and 1,762																																																																	3,832,000
shareholders' equity:
short-term securities—available-for-sale																																																																		171,000	169,000	168,000	285,000	282,062	279,528	276,618	274,209		10,188,487	10,056,789	12,081,196	12,992,931	12,846,772	12,709,104		12,453,348	3,400,631	4,840,163	2,834,650	2,860,487		18,129,230		25,074,221	21,129,486	21,262,148	4,541,011	8,908,682						6,596,477	4,618,206
patent costs, net of accumulated amortization of 1,762 and 1,927																																																																		3,759,000
patent costs, net of accumulated amortization of 1,959 and 1,927																																																																			3,580,000		3,269,000
assets held for sale																																																																			2,373,000
patent costs, net of accumulated amortization of 1,891 and 1,927																																																																				3,452,000
accumulated other comprehensive income deficit accumulated during the development stage
patent costs, net of accumulated amortization of 1,926,941 and 1,725,074																																																																						3,267,778
patent costs, net of accumulated amortization of 1,858,214 and 1,725,074																																																																							3,542,520
patent costs, net of accumulated amortization of 1,813,214 and 1,725,074																																																																								3,522,911
patent costs, net of accumulated amortization of 1,766,674 and 1,725,074																																																																									3,404,340
operations data:
revenues																																																																										10,985,191
research and development																																																																										34,760,402
general and administrative																																																																										9,332,365
interest income																																																																										983,976
gain on warrant liability																																																																										4,955,875
realized gain on sale of short-term securities—available-for-sale
write-down of short-term securities— available-for-sale
net income
net income per share
balance sheet data:
cash and investments																																																																										25,074,413
working capital																																																																										18,959,122
patent costs, net of accumulated amortization of 1,674,130 and 1,496,699																																																																											2,976,692
patent costs, net of accumulated amortization of 1,580,130 and 1,496,699																																																																												2,769,042
patent costs, net of accumulated amortization of 1,533,630 and 1,496,699																																																																													2,611,476
patent costs, net of accumulated amortization of 1,496,699 and 1,270,881																																																																														2,558,541
patent costs, net of accumulated amortization of 1,435,381 and 1,270,881																																																																															2,472,389
patent costs, net of accumulated amortization of 1,373,381 and 1,270,881																																																																																2,312,323
short-term securities–available-for-sale																																																																																	12,579,208																	14,527,670
patent costs, net of accumulated amortization of 1,320,381 and 1,270,881																																																																																	2,163,209
patent costs, net of accumulated amortization of 1,270,881 and 1,061,788																																																																																		2,117,710
patent costs, net of accumulated amortization of 1,216,288 and 1,061,788																																																																																			2,091,142
accrued employee compensation and deferred revenue																																																																																			881,328
patent costs, net of accumulated amortization of 1,161,788 and 1,061,788																																																																																				2,066,631
patent costs, net of accumulated amortization of 1,109,788 and 1,061,788																																																																																					2,042,217
patent costs, net of accumulated amortization of 1,061,788 and 877,038																																																																																						1,968,987
short-term securities-available-for-sale																																																																																							10,762,976		27,722,217						9,878,147		7,939,685
patent costs, net of accumulated amortization of 1,010,038 and 877,038																																																																																							1,946,660
patent costs, net of accumulated amortization of 964,038 and 877,038																																																																																								1,893,643
patent costs, net of accumulated amortization of 920,038 and 877,038																																																																																									1,842,308
related party receivables																																																																																													519,297	513,250	507,143	501,107		1,715,032
patent costs, net of accumulated amortization of 877,038 and 727,901																																																																																										1,716,231
patent costs, net of accumulated amortization of 848,901 and 727,901																																																																																											1,764,624
patent costs, net of accumulated amortization of 805,401 and 727,901																																																																																												1,714,806
patent costs, net of accumulated amortization of 764,901 and 727,901																																																																																													1,655,744
patent costs, net of accumulated amortization of 727,901 and 694,193																																																																																														1,587,632
patent costs, net of accumulated amortization of 697,615 and 694,193																																																																																															1,632,340
short-term securities — available-for-sale																																																																																																16,234,538
patent costs, net of accumulated amortization of 638,615 and 694,193																																																																																																1,568,441
patent costs, net of accumulated amortization of 585,115 and 694,193																																																																																																	1,479,989
patent costs, net of accumulated amortization of 694,193 and 541,185																																																																																																		1,376,402
short-term securities--available-for-sale																																																																																																			3,157,173
patent costs, net of accumulated amortization of 645,185 and 541,185																																																																																																			1,114,738
patent costs, net of accumulated amortization of 606,185 and 541,185																																																																																																				1,058,738
patent costs, net of accumulated amortization of 571,185 and 541,185																																																																																																					954,764

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-07-22	2012-12-31	2012-07-22	2011-12-31	2011-03-31	2009-03-31	2008-12-31	2008-07-22	2007-07-22	2006-12-31	2006-07-22	2006-06-30	2006-03-31	2005-06-30	2005-03-31	2004-12-31	2004-06-30	2004-03-31	2003-12-31	2003-07-22	2003-06-30	2003-03-31	2002-12-31	2002-07-22	2002-06-30	2002-03-31	2001-12-31	2001-07-22	2001-06-30	2001-03-31

cash flows from operating activities:
net income	330,959,000	-282,847,000	-179,947,000	196,892,000	-447,508,000	159,049,000	33,611,000	6,460,000	36,119,000									-121,981,000	-48,144,000	-81,405,000	-167,250,000	-189,317,000	-196,499,000	-150,820,000	-17,492,000	-235,703,000	-126,326,000	-276,403,000	-76,643,000	-140,895,000	-76,393,000	-109,267,000	-35,363,000	-23,998,000	-47,734,000	-63,046,000	84,090,000	-88,452,000	-56,742,000	-62,301,000	-59,770,000	-64,681,000	-51,939,000	-41,851,000	-61,559,000	-44,416,000	-29,226,000	-33,874,000	-28,273,000	-440,071,000	-42,084,000	-372,031,000	-17,704,000		-305,813,000			-15,014,476	-9,722,975											-3,418,817								-63,472,543
adjustments to reconcile net income to net cash flow from operating activities
stock-based compensation	29,399,000	30,016,000	14,927,000	37,025,000	41,428,000	49,676,000	43,450,000	50,482,000	40,692,000	45,826,000	48,061,000	47,377,000	41,250,000	50,510,000	50,418,000	102,892,000	29,198,000	29,782,000	26,684,000	28,969,000	28,508,000	29,527,000	26,903,000	27,616,000	24,024,000	22,064,000	20,637,000	19,762,000	16,139,000	12,838,000	11,484,000	15,279,000	10,526,000	7,366,000	6,922,000	10,465,000	5,712,000	6,869,000	9,428,000	6,830,000	6,835,000	6,348,000	5,683,000	5,930,000	14,156,000	5,767,000	4,649,000	5,587,000	4,342,000	35,724,000	1,671,000	30,233,000	708,000	26,541,000	27,011,000	442,000	553,153	1,278,705	2,360,770	934,649	1,003,550	1,006,000	1,937,271
depreciation and amortization	10,594,000	5,253,000	18,450,000	10,840,000	9,978,000	10,455,000	9,806,000	8,719,000	8,744,000	11,372,000	10,928,000	10,792,000	11,305,000	10,553,000	10,703,000	9,889,000	10,719,000	10,145,000	10,495,000	8,447,000	8,930,000	7,288,000	6,619,000	6,475,000	6,529,000	8,206,000	8,277,000	7,694,000	6,370,000	3,527,000	3,593,000	2,873,000	2,252,000	2,124,000	2,559,000	1,772,000	1,637,000	1,664,000	1,074,000	1,476,000	1,397,000	1,364,000	1,312,000	1,291,000	1,280,000	1,158,000	1,049,000	960,000	523,000	22,249,000	451,000	20,880,000	353,000	19,682,000	19,384,000	367,000	425,552	348,554	479,630	529,739	522,712	512,783	525,141	491,566	484,038	7,362,767	7,309,256	428,274	-4,903,656	333,186	5,705,154	333,186	379,041	4,374,415	-3,686,085	4,292,464	3,706,574	3,563,080	109,852	3,563,080
non-cash interest expense	9,612,000					1,204,000	1,246,000			1,237,000	1,231,000			1,525,000	2,039,000	2,031,000	1,957,000	1,964,000	1,926,000	1,875,000	1,816,000	6,922,000	6,315,000	5,875,000	6,342,000	5,557,000	5,374,000	5,305,000	5,208,000	4,984,000	5,248,000	5,018,000	4,940,000													-19,000
reduction in the carrying amounts of the right of use assets	3,110,000	2,625,000	3,370,000	4,022,000	3,934,000	3,878,000	4,325,000	4,012,000	3,952,000	3,859,000	3,825,000	3,593,000	3,218,000	3,553,000	3,668,000	1,859,000	3,655,000	1,213,000	4,089,000	3,803,000	2,220,000		3,360,000	3,236,000	2,153,000
loss on strategic investments	1,712,000			-36,721,000	90,728,000
accretion of investment discount	-530,000	-380,000	-1,133,000	-1,866,000	-1,912,000	-6,803,000	-10,615,000	-10,458,000	-12,401,000	-13,329,000	-12,602,000	-11,594,000	-8,651,000
other	-1,288,000	2,616,000	1,136,000	1,611,000	1,692,000	308,000	2,889,000	-1,396,000	329,000	-1,487,000	2,001,000	-2,441,000	1,964,000	-5,785,000	-2,867,000	-2,829,000	1,838,000	3,656,000	178,000	1,012,000	2,774,000	-545,000	875,000	581,000	-1,381,000	-202,000	0
changes in operating assets and liabilities, net:
decrease in accounts receivable	3,416,000	-2,494,000	131,556,000	132,076,000	-57,383,000
decrease in manufacturing-related deposits and prepaids	43,487,000	11,768,000	-1,797,000	-2,267,000	71,136,000	46,956,000
increase in inventory	-69,756,000	18,475,000	-83,020,000	-59,189,000	-177,359,000	-161,659,000
increase in other assets	-14,547,000				-15,067,000
decrease in deferred revenue	-274,916,000			25,572,000	-85,397,000	3,255,000
decrease in accounts payable	-210,465,000
increase in accrued expenses	-60,026,000
increase in lease liabilities and other liabilities	-3,444,000
net cash from operating activities	-202,683,000	131,206,000	-14,585,000	261,337,000	-583,437,000	92,046,000	-70,699,000	14,942,000	-242,076,000	-54,657,000	-114,706,000	-122,234,000	-209,396,000	-92,392,000	-64,964,000	-66,815,000	-101,175,000	-29,326,000	-124,329,000	-109,146,000	-180,371,000	-174,535,000	-238,186,000	-107,603,000	627,790,000		-67,431,000	-79,004,000	-146,233,000		-113,318,000	-117,254,000	-35,668,000		-57,903,000	-85,147,000	-57,888,000		-60,615,000	-43,284,000	-60,688,000				-43,348,000	-25,449,000	-35,321,000	-39,504,000	-28,265,000	-277,730,000	-14,993,000	-237,372,000	-9,049,000	-212,183,000	-216,601,000																							-38,669,218		-38,669,218
capital expenditures	-2,081,000	-3,591,000	-22,934,000	-31,796,000	-43,651,000	-38,082,000	-37,263,000	-29,167,000	-32,444,000	-19,039,000	-29,673,000	-17,909,000	-9,485,000	-7,964,000	-8,231,000	-9,078,000	-5,551,000	-2,206,000	-9,241,000	-5,894,000	-21,149,000	-28,610,000	-25,303,000	-19,169,000	-9,120,000		-9,429,000	-16,682,000	-16,263,000		-20,091,000	-8,697,000	-12,166,000		-765,000	-2,871,000	-4,465,000		-840,000	-419,000	-1,168,000				-532,000	-3,139,000	-12,464,000	-4,515,000	-5,326,000	-20,595,000	-9,000	-19,879,000	-9,000	-18,906,000	-18,928,000																							-4,814,759		-4,814,759
free cash flows	-204,764,000	127,615,000	-37,519,000	229,541,000	-627,088,000	53,964,000	-107,962,000	-14,225,000	-274,520,000	-73,696,000	-144,379,000	-140,143,000	-218,881,000	-100,356,000	-73,195,000	-75,893,000	-106,726,000	-31,532,000	-133,570,000	-115,040,000	-201,520,000	-203,145,000	-263,489,000	-126,772,000	618,670,000		-76,860,000	-95,686,000	-162,496,000		-133,409,000	-125,951,000	-47,834,000		-58,668,000	-88,018,000	-62,353,000		-61,455,000	-43,703,000	-61,856,000				-43,880,000	-28,588,000	-47,785,000	-44,019,000	-33,591,000	-298,325,000	-15,002,000	-257,251,000	-9,058,000	-231,089,000	-235,529,000																							-43,483,977		-43,483,977
cash flows from investing activities:
purchase of available-for-sale securities	-170,197,000	0	0	0	-44,658,000	-162,911,000	-389,402,000	-330,832,000	-216,450,000	-569,536,000	-645,605,000	-403,036,000	-426,763,000	-427,540,000	-371,714,000	-357,832,000	-779,770,000	0	1,000	0	-29,989,000	-435,877,000	-140,953,000	-391,301,000	-365,437,000	-209,407,000	-252,937,000	-236,807,000	-494,481,000	-520,216,000	-355,564,000	-204,309,000	-91,514,000	-489,172,000	0							-112,369,000	-1,000			-2,179,000	-45,573,000	-49,947,000	-176,669,000
maturity and sales of available-for-sale securities	38,888,000	99,936,000	86,551,000	68,626,000	40,758,000				477,690,000
purchase of property and equipment	-2,081,000	-3,591,000	-22,934,000	-31,796,000	-43,651,000	-38,082,000	-37,263,000	-29,167,000	-32,444,000	-19,039,000	-29,673,000	-17,909,000	-9,485,000	-7,964,000	-8,231,000	-9,078,000	-5,551,000	-2,206,000	-9,241,000	-5,894,000	-21,149,000	-28,610,000	-25,303,000	-19,169,000	-9,120,000	-17,257,000	-9,429,000	-16,682,000	-16,263,000	-20,203,000	-20,091,000	-8,697,000	-12,166,000	-3,899,000	-765,000	-2,871,000	-4,465,000	-2,914,000	-840,000	-419,000	-1,168,000	-1,085,000	-1,147,000	-637,000	-532,000	-3,139,000	-12,464,000	-4,515,000	-5,326,000	-20,595,000	-9,000	-19,879,000	-9,000	-18,906,000	-18,928,000																							-4,814,759		-4,814,759
purchase of intangible assets	-1,000,000					0	0	0	-10,000,000	0																-1,034,000	-594,000	-599,000	-855,000	-555,000	-1,077,000	-883,000	-673,000	-624,000	-6,990,000	-356,000	-1,245,000
acquisition of strategic investment					-241,388,000
net cash from investing activities	-134,390,000	96,207,000	232,400,000	32,211,000	-291,177,000	764,118,000	-128,825,000	-98,528,000	218,796,000	-64,358,000	-210,571,000	96,634,000	12,492,000	9,796,000	19,119,000	-289,991,000	-785,807,000	-2,577,000	20,265,000	321,059,000	156,666,000	-123,891,000	54,075,000	-34,225,000	-17,680,000		-17,959,000	152,373,000	135,231,000	-237,736,000	-63,400,000	-55,092,000	-14,260,000	-493,695,000	124,949,000	-20,054,000	209,985,000	-198,774,000	10,224,000	78,935,000	19,422,000	-69,819,000	31,019,000	3,383,000	43,827,000	46,677,000	-20,541,000	-2,877,000	-182,289,000	-28,996,000	-7,720,000	-27,452,000	-262,000	-25,508,000	-25,060,000				299,732											3,108,743		3,108,743						-8,641,093
cash flows from financing activities:
proceeds from exercise of stock options and purchase of stock under the employee stock purchase program	241,000	308,000	1,214,000	1,500,000	15,681,000	3,710,000	13,757,000	39,918,000	22,140,000	1,943,000	15,405,000	5,861,000	28,037,000	11,303,000	13,411,000	339,000	4,990,000	2,148,000	5,902,000	3,526,000	9,226,000	35,826,000	18,789,000	21,860,000	7,482,000		5,181,000	7,092,000	12,299,000
proceeds from borrowings under the revolving credit facility	250,000,000
repayments of borrowings under the revolving credit facility	-250,000,000
payments related to obtaining the revolving credit facility
net cash from financing activities	241,000	-39,208,000	-117,790,000	-23,817,000	12,471,000	48,991,000	13,757,000	39,918,000	22,140,000	1,943,000	15,405,000	5,861,000	101,795,000	10,749,000	216,429,000	339,000	4,990,000	549,248,000	5,902,000	3,526,000	2,893,000	326,937,000	18,789,000	17,575,000	319,022,000	256,966,000	1,733,000	6,292,000	377,563,000	521,283,000	-23,955,000	25,351,000	7,471,000	506,813,000	382,237,000	-1,174,000	206,000	7,287,000	333,712,000	38,167,000	-1,037,000	125,576,000	1,576,000	20,250,000	406,000	24,000	5,407,000	96,034,000	2,690,000	477,708,000	2,971,000	454,402,000	-20,000	264,828,000	264,944,000	15,445,000							7,971,098	67,956	22,311,475			6,985,851	-88,087,728	26,152						101,657,406	69,509,268	69,312,047	10,237,762	69,312,047
decrease in cash, cash equivalents and restricted cash	-336,832,000		100,025,000	269,731,000	-862,143,000		-185,767,000	-43,668,000	-1,140,000		-309,872,000	-19,739,000	-95,109,000				-881,992,000
cash, cash equivalents and restricted cash:
beginning of period	814,407,000		0	0	1,118,589,000		0	0	444,009,000		0	0	985,801,000		0	0	2,125,523,000		0	0	1,511,713,000		0	0	843,645,000	0	0	0	370,829,000	0	0	0	599,827,000	0	0	0	122,556,000	0	0	0	80,304,000	0	0	0	73,551,000	0	0	0	256,965,000		187,661,000		39,904,000			11,192,000	0	24,802,562	20,159,201	0	0	0	34,597,734	0	16,654,829			12,524,915		10,384,963		10,384,963
end of period	477,575,000		100,025,000	269,731,000	256,446,000		-185,767,000	-43,668,000	442,869,000		-309,872,000	-19,739,000	890,692,000		170,584,000	-356,467,000	1,243,531,000		-98,162,000	215,439,000	1,490,901,000		-165,322,000	-124,253,000	1,772,777,000	110,251,000	-83,657,000	79,661,000	737,390,000	161,127,000	-200,673,000	-146,995,000	557,370,000	-17,940,000	449,283,000	-106,375,000	274,859,000	-272,720,000	283,321,000	73,818,000	38,001,000	24,485,000	-13,719,000	-4,898,000	74,436,000	21,252,000	-50,455,000	53,653,000	49,101,000	-16,679,000	167,919,000	149,674,000	30,573,000	-6,452,000	23,283,000	24,723,000	-2,888,975	19,960,809	14,964,915	-5,419,047	-6,186,135	-5,102,918	36,867,301	-7,010,767	34,356,842	4,312,980	2,357,547	8,687,362	5,994,891	7,171,723	1,906,618	7,171,723	-2,203,918	-856,221	-16,440,541	29,885,643	-13,543,067	22,001,736	6,130,629	22,001,736
reconciliation of cash, cash equivalents and restricted cash:
cash and cash equivalents	464,450,000	188,205,000	102,479,000	269,731,000	240,867,000	905,155,000	-185,767,000	-43,668,000	427,290,000	-113,502,000	-309,997,000	-19,739,000	871,668,000	-71,847,000	170,059,000	-365,312,000	1,233,877,000	516,756,000	-98,162,000	215,439,000	1,481,836,000	28,011,000	-165,322,000	-124,253,000	1,764,212,000	110,251,000	-83,762,000	76,401,000	732,190,000	161,127,000	-200,673,000
restricted cash in other assets	13,125,000	0	-2,454,000	0	15,579,000	0	0	0	15,579,000	-3,570,000	125,000	0	19,024,000	0	525,000	8,845,000	9,654,000	589,000	0	0	9,065,000	500,000	0	0	8,565,000	0	105,000	3,260,000	5,200,000
total cash, cash equivalents and restricted cash	477,575,000	188,205,000	100,025,000	269,731,000	256,446,000	905,155,000	-185,767,000	-43,668,000	442,869,000	-117,072,000	-309,872,000	-19,739,000	890,692,000	-71,847,000	170,584,000	-356,467,000	1,243,531,000	517,345,000	-98,162,000	215,439,000	1,490,901,000	28,511,000	-165,322,000	-124,253,000	1,772,777,000	110,251,000	-83,657,000	79,661,000	737,390,000	161,127,000	-200,673,000
supplemental disclosure of cash flow information:
cash paid during the period for income taxes	1,728,000		1,156,000	19,258,000	835,000	10,973,000	3,624,000	7,081,000	909,000	5,512,000
cash paid during the period for interest	23,419,000		6,774,000	0	7,188,000	687,000	7,188,000	793,000	7,188,000	794,000	7,312,000	794,000	7,023,000	3,145,000	13,493,000	16,092,000	11,688,000	16,222,000	11,947,000	16,092,000	11,688,000	13,956,000	5,430,000	9,647,000	5,385,000	4,275,000	0			4,447,000	803,000	5,205,000	853,000	988,000	386,000	247,000	291,000	363,000	371,000	419,000	409,000	410,000	322,000	19,000	18,000		20,000	20,000	20,000		22,000
supplemental schedule of non-cash activities:
intangible assets and property and equipment included in accounts payable and accrued expenses	5,953,000	-2,237,000	-20,769,000	-2,759,000	29,225,000	8,899,000	3,358,000	7,554,000	22,929,000	17,280,000	-4,869,000	9,792,000	11,136,000	1,254,000	-240,000	1,336,000	4,415,000	-482,000	-3,116,000
lease liabilities arising from obtaining right of use assets		0	0	0	5,232,000	14,994,000	18,349,000	1,743,000	275,000	357,000	3,971,000	75,595,000	280,000	27,725,000	874,000	7,301,000	4,106,000	77,000	2,566,000	9,681,000	901,000	21,680,000
capitalized stock-based compensation and depreciation as inventory	6,934,000	7,252,000	4,043,000	6,925,000	7,285,000	7,813,000	7,449,000	6,954,000	6,333,000
non‑cash inventory write‑downs for excess and obsolescence
in-kind milestone payment to arrowhead pharmaceuticals		0
loss on investment in arrowhead pharmaceuticals		0
non-cash write-off of prepaid deposits		0
loss on debt extinguishment		-155,475,000								0	0	0	387,329,000	0
non-cash termination charges						0
change in the fair value of derivatives
impairment of strategic investments
gain from sale of priority review voucher										0	0														-108,069,000									0	0	0	-125,000,000
decrease in other assets
increase in deferred revenue		41,858,000
increase in accounts payable, accrued expenses, lease liabilities and other liabilities
acquisition of strategic investments		0	0
proceeds from sale of investment in arrowhead pharmaceuticals		0
purchase of intangible assets and other		-138,000	-5,312,000	-188,000	-2,238,000
proceeds from sale of priority review voucher										0	0																							0	0	0	125,000,000
repayment of 2027 notes, including debt extinguishment costs
repurchases of common stock, net of excise tax
proceeds from issuance of common stock		0
debt issuance costs for the august 2025 exchange and december 2025 exchange
payments related to revolving credit facility		-48,000	-608,000
common stock issuance costs		-110,000
settlement of capped call share options for 2024 notes
payment on maturity of 2024 notes
debt conversion costs for 2024 notes										0	0	0	-6,887,000
increase in cash and cash equivalents																														161,127,000	-200,673,000	-146,995,000	-42,457,000		449,283,000	-106,375,000	152,303,000	-272,720,000	283,321,000	73,818,000	-42,303,000				885,000	21,252,000			-207,864,000	170,982,000	-19,742,000	189,578,000	-9,331,000	27,137,000	23,283,000								2,269,567										-2,203,918	10,213,230	-27,509,992	29,885,643		22,001,736	6,130,629	22,001,736
beginning of year
end of year
cash paid during the year for income taxes
cash paid during the year for interest																																																				510,000	22,000	421,000	422,000	24,000
non-cash settlement of 2027 notes in exchange transactions
issuance of 2030 notes in exchange for 2027 notes		291,392,000
common stock issued for conversion or exchange of 2027 notes		0
incremental option value associated with the december 2025 exchange
contingent consideration liabilities derecognized in connection with adoption of asu 2025‑07
reduction in lease liability embedded in cmo agreement due to remeasurement
accrued debt issuance costs for the december 2025 exchange
common stock issued for conversion or exchange of 2024 notes						91,572,000	1,000
lease liabilities terminated														0	0			20,166,000	0	0	19,967,000
termination charges
decrease in accounts payable, accrued expenses, lease liabilities and other liabilities			-103,173,000	-24,467,000	-17,707,000
repayment of 2027 notes
debt issuance costs for the exchange transaction
repurchases of common stock			0
accrued debt issuance costs for the exchange transaction
accrued common stock issuance costs
settlement of non-cash component of 2027 notes
modification of 2017 capped calls
non-cash change in the fair value of derivatives						-727,000
payments related to obtaining revolving credit facility					-3,210,000
increase in accounts receivable						-167,464,000
proceeds from 2027 notes offering, net of commissions														0
purchase of capped call share options for 2027 notes														0
debt issuance costs for 2027 notes														-554,000
repurchase of 2024 notes														0
repayment of principal amount due under 2019 term loan														0
payment on debt extinguishment of 2019 term loan														0
maturity and sale of available-for-sale securities							297,840,000					415,624,000	448,834,000		399,571,000				30,000,000	226,000,000	210,000,000		221,000,000	376,980,000	250,000,000		245,001,000	579,017,000	646,830,000				90,093,000		132,704,000
partial settlement of capped call share options for 2024 notes										0	0	0	80,645,000	0
proceeds from exercise of stock options not yet received
adjustments to reconcile net income to cash flows from operating activities:
non-cash change in the fair value of contingent consideration								0	10,100,000
net decrease (increase) in accounts receivable																																														946,000
net increase in manufacturing-related deposits and prepaids								-58,298,000	-145,046,000
net increase in inventory								-102,460,000	-60,512,000	-94,104,000	-26,612,000	-26,692,000	-306,000	-8,880,000	-26,536,000	-10,677,000	-4,687,000	-27,264,000	-19,713,000	-28,423,000	-8,372,000	-11,843,000	-40,468,000	-6,482,000	-1,789,000	-5,019,000	-9,791,000	-16,102,000	-15,022,000	-9,629,000	-11,690,000	-4,751,000	-15,770,000		-22,939,000	-11,309,000	-17,632,000
net decrease in other assets										-15,724,000	-6,004,000	41,011,000	-29,996,000	-19,778,000	3,477,000	17,520,000	13,401,000																4,672,000
net decrease in deferred revenue								10,036,000	-50,416,000	-20,078,000	-22,495,000	-22,250,000	-22,005,000		-22,495,000	-22,250,000	-22,005,000
net decrease in accounts payable, accrued expenses, lease liabilities and other liabilities								77,593,000	-92,843,000				-67,541,000				-5,022,000
adjustments to reconcile net loss to cash flows from operating activities:
net decrease in accounts receivable									21,521,000
net increase in other assets									-2,315,000													-52,201,000	-69,818,000	-16,343,000	-27,966,000	-7,381,000	-7,002,000	-8,144,000	-79,564,000	-52,294,000	-54,478,000				1,966,000				-7,809,000	2,786,000	-3,180,000					-4,845,000
common stock issued for exchange of 2024 notes											0	0	693,377,000
net loss												-23,940,000	-516,755,000	-109,244,000	-257,738,000	-231,481,000	-105,025,000																																							-927,000				-8,329,187		-6,902,029	-9,061,150	-4,932,642	-5,499,179	-136,184,940	-138,342,648	-7,532,512	113,481,830		-120,075,986	-3,418,817	-3,993,834		76,721,148	-95,035,100	-64,898,088		-3,546,015	-63,472,543
adjustments to reconcile net loss to cash flows in operating activities:
net increase in accounts receivable										-81,472,000	-82,047,000	-12,972,000	-9,208,000	-13,119,000	2,345,000	-25,660,000	-25,204,000	-3,203,000	-22,267,000	-9,317,000	-16,863,000	20,487,000	-17,799,000	2,847,000	-15,996,000	-22,847,000	-11,051,000	-6,471,000	-1,466,000	-443,000	-5,616,000	-3,137,000	-10,380,000		-6,960,000	-5,513,000	-7,050,000		-4,000	8,000	-13,000	-1,244,000
net increase in accounts payable, accrued expenses, lease liabilities and other liabilities										61,088,000	-17,554,000			12,878,000	53,195,000
taxes paid related to net share settlement of equity awards																		-1,432,000	0	0	-6,333,000	0	0	0	-4,798,000	0	-3,448,000
proceeds from sales of common stock, net of offering costs																																		0
impairment of equity investments
maturity of available-for-sale securities																																					80,000,000				21,000,000	44,085,000	43,204,000			48,314,000	37,930,000
supplemental schedule of non-cash investing and financing activities:
accrued debt issuance costs for 2027 notes
loss on disposal of assets														5,314,000	86,000														88,000	3,844,000	57,000	27,000	10,000	13,000																	196,000	2,454,000	65,000	2,110,000	2,107,000	183,000	572,824	439	53,498	0	1,380	26,736	164,253	2,529	1,028
supplemental schedule of non-cash investing activities and financing activities:
loss on contingent consideration																						0
gain from sale of priority review voucher, net of commission																		0	0				0
impairment of equity investment																		0
net increase in deferred revenue																		-22,494,000	-22,495,000	-22,250,000	-22,005,000	-22,494,000	-22,561,000	-25,953,000	820,437,000
proceeds from sale of priority review voucher, net of commission																		0	0				0	0	108,069,000
proceeds from 2019 term loan
debt issuance costs for 2019 term loan
proceeds from issuance of common stock to roche, net of offering costs																						0	0
shares withheld for tax included in accrued expenses																			0
accrued debt issuance costs
gain on contingent consideration
increase in cash, cash equivalents and restricted cash															170,584,000				-98,162,000	215,439,000	-20,812,000		-165,322,000	-124,253,000	929,132,000		-83,657,000	79,661,000	366,561,000
adjustments to reconcile net income to cash flows in operating activities:
(gain) loss on contingent consideration																		0
acquired in-process research and development																										0	0																												29,461,000		0	9,916,271																		19,545,028		19,545,028	0	19,545,028
non-cash up-front payment to stridebio
net decrease (increase) in other assets																		29,048,000	485,000	38,755,000	34,915,000																774,000					5,286,000	1,268,000	1,282,000	7,413,000
acquisition of myonexus therapeutics, inc., net of cash acquired																										0	0
proceeds from term loans
debt issuance costs
net increase in accounts payable, accrued expenses and other liabilities																			-52,956,000				20,065,000	46,009,000	-57,718,000																					15,269,000			1,704,000
amortization of investment discount																				-19,000	-82,000	-80,000	-178,000	-644,000	-1,284,000	-996,000	-1,649,000	-2,324,000	-3,476,000		-1,914,000	-1,569,000	-1,259,000
net decrease in accounts payable, accrued expenses and other liabilities																					-44,962,000
intangible assets and property and equipment included in accrued expenses																					5,729,000	-3,141,000	-740,000	2,878,000	6,154,000
issuance costs related to the roche collaboration in accrued expenses																									4,285,000
reduction in the carry amounts of the right of use assets
income from debt extinguishment
repayment of july 2017 term loan
proceeds from revolving line of credit																														18,150,000	44,368,000	77,119,000	96,235,000	15,708,000
repayment of revolving line of credit																														-17,323,000
payment for debt extinguishment
repayment of mortgage loans and notes payable
reclassification of long term investments to short term investments																														0	0	0	9,980,000
proceeds from sale of common stock, net of offering costs																											0	89,000	365,264,000
right of use asset and lease liability additions
sale of available-for-sale securities included in investment receivable																												-22,300,000	42,300,000
proceeds from issuance of common stock to roche																									316,338,000
manufacturing right of use asset additions																									27,554,000
manufacturing lease liability additions																									24,783,000
net cash from operations																																										-31,272,000	-46,314,000
purchase of restricted investment
maturity of restricted investment																																		0	0	0	10,695,000
net cash provided (used) in investing activities
proceeds from exercise of options and employee stock purchase program
proceeds from december 2019 term loan
repayment of june 2015 and july 2017 term loan																														0
proceeds from july 2017 term loan
purchase of capped call options
proceeds from convertible debt offering
accrued debt discount and issuance costs
property and equipment included in accrued expenses																										-936,000	-785,000	24,000	2,878,000	2,906,000	2,226,000	-2,691,000	2,980,000	2,140,000			330,000			80,000	19,000	107,000			45,000	-888,000	743,000
net increase in accounts payable, accrued expenses, deferred revenue and other liabilities																											54,100,000			58,578,000	14,069,000	12,811,000	4,704,000											4,518,000	-5,084,000
purchases of restricted investment																															0
repayments on mortgage loans
payment of debt extinguishment
reclassification of revolving line of credit balance to other receivable
intangible assets included in accrued expenses																											-16,000	-4,000	230,000	140,000	-60,000	92,000	202,000	85,000	-7,000	86,000	179,000	-67,000
accrual for debt issuance costs related to the term loans
net decrease in accounts payable, accrued expenses, deferred revenue and other liabilities																													2,133,000								-886,000				-6,214,000
shares withheld for taxes																													889,000	8,000	3,303,000			436,000	1,482,000	144,000	165,000	213,000	1,851,000	60,000	44,000
amortization of investment (discount) premium
income from extinguishment of debt
non-cash restructuring expense
accrued exit and legal fees for debts
reclassification of software licenses																																		0
property and equipment reclassified to asset held for sale																																		0
proceeds from july 2017 term loan, net of cash debt issuance costs
asset held for sale
debt issuance costs related to the term loans included in accrued expenses
offering costs related to equity offerings included in accrued expenses
payments on mortgage loans																																0	-1,265,000
payments on revolving line of credit																																-73,511,000	-100,142,000
proceeds from exercise of options and purchase of stock under the employee stock purchase program																																21,743,000	12,643,000		7,693,000	1,337,000	2,749,000				1,488,000
repayments of long-term debt																																												-24,000	-25,000	-24,000	-23,000	-24,000	-23,000	-452,000	-22,000	-366,000	-21,000	-284,000	-284,000
payment of term loan
(accretion of discount) amortization of premium on available-for-sale securities
increase in accounts payable, accrued expenses, deferred revenue and other liabilities
proceeds from term loan
payments of term loan and notes payable
payment of revolving line of credit
proceeds from exercise of options and warrants and employee stock purchase program
accrual for offering costs related to the equity offerings																																						-169,000
(accretion of discount) amortization of premium on available-for- sale securities and non-cash interest
non-cash restructuring expenses
proceeds from july 2017 term loan (defined in note 12), net of cash debt issuance costs
payments on june 2015 term loan (defined in note 12) and mortgage loans
accrual for offering costs related to equity offerings
amortization of (discount) premium on available-for-sale securities and non-cash interest																																				-125,000	-18,000
loss on abandonment of patents																																				119,000	485,000	248,000	21,000	9,000	15,000	17,000	48,000
repayments of long-term debt and notes payable																																				-2,511,000	-2,543,000	-2,527,000	-2,525,000	-26,000	-2,525,000	-25,000
accrual for debt issuance costs related to the senior secured term loan																																				0	400,000		0
accrual for senior secured term loan principal payment
accrual for offering costs related to the june 2016 equity offering
amortization of premium, net of discount, on available-for-sale securities and income from sales of available-for-sale securities
increase in warrant valuation																																																	3,251,000
release and maturity of restricted investments																																														4,000,000	0
patent costs																																								-358,000	-410,000	-450,000	-342,000	-249,000	-391,000	-319,000	-434,000	-334,000	-294,000	-10,653,000	-461,000	-9,915,000	-253,000	-8,944,000	-8,474,000																							-1,696,468		-1,696,468
proceeds from borrowings, net of debt issuance costs																																										0	-133,000
cash and cash equivalents:
accrued debt issuance costs related to the senior secured term loan																																										0
issuance of common stock in satisfaction of warrants
issuance of notes payable in relation to the purchase of certain real and personal property located in andover, massachusetts
amortization of premium on available-for-sale securities, income from sale of available-for-sale securities and non-cash interest																																							79,000
purchase of restricted investments																																										0								-90,000	-7,250,000
sale and maturity of available-for-sale securities																																							11,389,000
proceeds from sales of common stock
capitalized interest																																										0	0	0	99,000	101,000
proceeds from exercise of options, purchase of stock under the employee stock purchase program and sales of common stock
patent costs included in accrued expenses																																								67,000	192,000	230,000	-65,000	70,000	100,000
amortization of premium on available-for-sale securities and non-cash interest																																									242,000
amortization of premium on available-for-sale securities																																														615,000	690,000	608,000	519,000
non-cash interest
proceeds from exercise of options and warrants and the sale of common stock, net of offering costs																																										125,601,000	4,233,000			48,000	5,430,000
other financing activities																																																		-434,000
tenant improvement paid by landlord
issuance of note payable in relation to the purchase of certain real and personal property located in andover, massachusetts
decrease in cash and cash equivalents																																											-13,719,000
accrued legal and other fees for the october 9, 2015 common stock offering
amortization of premium on available-for-sale securities and noncash interest
issuance of common stock in satisfaction of warrants and other liabilities																																														0	5,570,000	3,171,000	3,044,000		1,022,000
accrual for the debt issuance costs related to the senior secured term loan
adjustments to reconcile net income to net cash flows from operating activities:
amortization of premium on available-for-sale securities and other non-cash interest expense																																													315,000
loss on abandonment of patents and disposal of property and equipment																																													131,000	76,000			6,000
sale of available-for-sale securities																																													44,750,000
proceeds from exercise of options and warrants																																													431,000
supplemental disclosure of cash flow information
supplemental schedule of noncash investing activities and financing activities:
tenant improvements paid by landlord																																														-1,000	89,000	-528,000	593,000	2,522,000
loss on change in warrant valuation																																														0	-4,256,000
issuance of debt in relation to the purchase of certain real and personal property located in andover, massachusetts
net increase in accounts receivable and other assets																																																-10,620,000	-10,337,000		-1,178,000
receivable for warrants exercised
realized gain on sale of available-for-sale securities
write-down of available-for-sale securities
impairment charge on real estate owned																																																						1,336,000	1,336,000
acquisition costs																																																							-2,389,000																							-2,377,616		-2,377,616
proceeds from exercise of options and warrants and the sale of common stock, warrants, and partnership units, net of offering costs																																																	2,713,000
available-for-sale securities received in connection with the private offering
property and equipment included in accounts payable and other liabilities																																																	3,533,000
issuance of common stock for building purchase																																																							750,000
assumption of long-term debt for building purchase																																																							2,200,000
issuance of common stock to acquire assets
assumption of liabilities to acquire assets
realized gain on sale of short-term securities—available-for-sale																																																							-3,863,000
write-down of short-term securities—available-for-sale																																																							17,001,000
increase on warrant valuation																																																						609,000
net increase in accounts receivable, other current assets and other assets																																																		-5,440,000
net increase in accounts payable, accrued employee compensation, and other liabilities																																																		20,014,000	-955,000			7,806,000	11,326,000				1,195,910
purchase of marketable securities																																																							-112,993,000
sale of marketable securities																																																							117,724,000				909,694	10,422,223	1,059,572	2,051,881	902,117	2,456,126	3,346,336	59,242,341	60,764,053	10,346,335	-5,463,808	4,989,198	23,453,783	4,989,198	9,748,835	5,216,105	2,513,555	2,696,377
proceeds from exercise of options and warrants, and the sale of common stock, warrants, and partnership units, net of offering costs
short-term securities—available-for-sale received in connection with the private offering																																																							17,897,000																							17,897,000		17,897,000
adjustments to reconcile net income to net cash flows used in operating activities:
loss on disposal of property and equipment
realized gain on sale of short-term securities — available-for-sale
write-down of short-term securities — available-for-sale
increase on warrant liability																																																					10,926,000
changes in operating assets and liabilities:
proceeds from sale of common stock, warrants, and partnership units, net of offering costs, and exercise of options and warrants																																																			2,993,000	455,154,000	1,000	265,498,000	265,614,000	15,464,000	37,287			73,136	14,986	103,638	7,971,098	67,956	22,311,475	137,541,525	137,560,448	6,985,851	-88,473,165	26,152	123,405,510	26,152	318,296	80,433,901	-80,365,412	102,042,843	69,894,705	69,697,484	10,237,762	69,697,484
cash paid for interest
short-term securities — available-for-sale received in connection with the private offering
issuance of common stock in satisfaction of warrant liabilities
increase in warrant liability																																																			26,906,000
short-term securities — available-for-sale received in connection with private offerings
issuance of common stock and warrants in satisfaction of liabilities																																																						545,000	1,188,000					0	0
realized gain on sale of short-term securities— available-for-sale
conversion of interest accrued to common stock																																																							8,000																		0			7,860		7,860	0	7,860
(increase) in accounts receivable, other current assets and other assets																																																					-1,830,000
increase in accounts payable, accrued employee compensation, and other liabilities																																																					-1,567,000
buyback of common stock pursuant to rescission offering																																																							-289,000																							-288,795		-288,795
withdrawal of partnership net assets																																																							-177,000																							-176,642		-176,642
issuance of convertible debt																																																							80,000																		0			80,000		80,000	0	80,000
issuance of common stock to acuire assets
realized gain on sale of short-term securities - available-for-sale
write-down of short-term securities - available-for-sale
short-term securities - available-for-sale received in connection with the private offering
issuance of common stock for ercole assets																																																							8,075,000		0	7,918,059
assumption of liabilities for ercole assets																																																							2,124,000		0	2,280,850
realized gain on sale of short-term securities–available-for-sale
write-down of short-term securities–available-for-sale
supplemental disclosure of cash flow
information:
short-term securities–available-for-sale received in connection with the private offering
increase in:
accounts receivable and other current assets																																																								1,799,000				76,534	-236,426	692,811	281,612
change in unrealized gain on short-term securities—available-for-sale																																																											-2,041	-909			1,890	0	132,641	-127,165				-376,173		-376,173
net income and comprehensive loss
accounts receivable, other current assets and other assets
supplemental schedule of noncash investing
activities and financing activities:
(gain) loss on warrant liability																																																							778,000			1,434,684
increase in accounts receivable, other current assets and other assets																																																							-15,337,000
adjustments to reconcile net loss to net cash flows from operating activities:
increase (decrease) on warrant valuation
net (increase) in:
other assets																																																												0	0	0	2,900															-29,847		-29,847
sale (purchase) of marketable securities
increase (decrease) in cash and cash equivalents																																																								13,531,000								-7,010,767	17,702,013
issuance of common stock and warrants in satisfaction of employee bonuses																																																								239,000
realized gain on sale of short-term securities—
available-for-sale
issuance of common stock and warrants to vendors																																																									140,295
compensation expense on issuance of common stock and partnership units																																																								45,000	16,004	118,045															186,663	371,992	-68,992	371,992		251,992	0	251,992
compensation expense to non-employees on issuance of options and warrants to purchase common stock or partnership units																																																								78,000	0	103,459	312,637	0	0	0	525,126
loss on warrant liability
(increase) decrease in:
gain on warrant liability
decrease in:
short-term securities—available-for-sale received in
connection with the private offering
change in unrealized gain on short-term
securities—available-for-sale
decrease (increase) in:
net increase in accounts payable, accrued employee compensation, deferred revenue, and other liabilities
issuance of common stock to vendors																																																											300,000	675,000	0	0	700,000
change in unrealized loss on short-term securities—available-for-sale
net increase (decrease) in accounts payable, accrued employee compensation, and other liabilities
net cash provided by financing activities																																																																								26,152
issuance of warrants in connection with financing arrangements
adjustments to reconcile net loss to net cash flows used in operating activities:
change in unrealized gain on short-term securities–available-for-sale
issuance of common stock and warrants for services																																																															175,000										-120,000	187,000	-67,000	370,000	-120,000	240,000	250,000	240,000
compensation expense on issuance of options and warrants to purchase common stock or partnership units																																																																60,676	206,329	1,340,396	1,326,475	332,890	-359,147				148,254			682,353		562,353	0	562,353
other current assets																																																																														-738,192		-738,192
net increase in accounts payable, accrued employee compensation, and deferred revenue
write-down of short-term securities— available-for-sale
net increase in accounts payable and accrued employee compensation																																																																	28,316								206,273	4,361,512	-4,165,504	4,839,853
related party receivables and other current assets																																																																38,421	399,958			43,738		239,677		239,677
write-down of short-term securities-available-for-sale																																																																												12,523,088
net increase (decrease) in accounts payable and accrued employee compensation
change in unrealized loss on short-term securities– available-for-sale																																																																				-128,874
change in unrealized gain on short-term securities-available-for-sale
realized gain on sale of short-term securities
compensation expense on issuance of common
stock and partnership units
accounts payable and accrued employee compensation
short-term securities—available-for-sale received in connection with the private offering, related party																																																																									0
change in unrealized gain on short-term securities— available-for-sale																																																																												-2,852,652
realized gain on sale of short-term investments - available for sale																																																																														-96,750		-96,750
acquired in-process research and development decrease in:
proceeds from sale or redemption of short-term investments																																																																												247,750		247,750	0	247,750
acquired in-process research and development increase in:
short-term securities — available-for-sale received in connection with the private offering, related party
change in unrealized gain on short-term securities — available-for-sale
realized gain on sale of short-term investments — available for sale
short-term securities-available-for-sale received in connection with the private offering, related party																																																																												17,897,000
write-down of short-term securities--available for sale
short-term securities--available-for-sale received in connection with the private offering, related party
change in unrealized gain on short-term securities--available-for-sale
net increase in accounts payable and accrued liabilities																																																																														1,737,801	-3,643	1,737,801
unrealized gain on short-term securities-- available-for-sale																																																																														-13,278,794		-13,278,794
short-term securities--available-for-sale received in connection with the private offering
unrealized gain on short-term securities--available-for-sale
net cash used in investing activities																																																																																-8,641,093

Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics
(NASDAQ:SRPT)