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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Revenues $ 66,769 $ 249 $ 68,348 $ 1,084
Operating expenses:        
Research and development 112,554 79,597 212,395 161,167
General and administrative 65,721 50,824 123,090 96,324
Total operating expenses 178,275 130,421 335,485 257,491
Operating loss (111,506) (130,172) (267,137) (256,407)
Interest expense (11,084) (12,732) (19,952) (19,835)
Non-cash interest expense on liabilities related to revenue participation right purchase agreements (13,181) (11,567) (27,259) (21,785)
Interest and other income, net 13,001 11,553 26,702 19,466
Change in fair value of derivative liabilities 3,000 (600) 2,600 (600)
Change in fair value of liabilities related to RPI Transactions (14,600) 200 (10,700) 200
Net loss $ (134,370) $ (143,318) $ (295,746) $ (278,961)
Net loss per share - basic $ (1.12) $ (1.31) $ (2.49) $ (2.63)
Net loss per share - diluted $ (1.12) $ (1.31) $ (2.49) $ (2.63)
Weighted-average number of shares used in computing net loss per share - basic 119,457 109,240 118,979 106,013
Weighted-average number of shares used in computing net loss per share - diluted 119,457 109,240 118,979 106,013
Other comprehensive (loss) gain:        
Unrealized loss on available-for-sale securities, net $ (851) $ (499) $ (1,392) $ (1,055)
Foreign currency translation adjustments (852) 16 (1,164) 43
Comprehensive loss (136,073) (143,801) (298,302) (279,973)
Collaboration Revenues [Member]        
Revenues:        
Revenues 2,416 249 3,995 1,084
License and Milestone Revenues [Member]        
Revenues:        
Revenues $ 64,353 $ 0 $ 64,353 $ 0