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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue        
Total revenue $ 19,223 $ 14,417 $ 33,968 $ 28,211
Operating costs and expenses        
Cost of revenue 20,161 9,199 41,990 20,365
Research and development 128,636 73,928 258,269 141,488
General and administrative 46,653 31,833 101,304 63,241
Total operating costs and expenses 195,450 114,960 401,563 225,094
Loss from operations (176,227) (100,543) (367,595) (196,883)
Other income (loss), net 4,330 2,480 (6,947) 6,668
Loss before income tax benefit (171,897) (98,063) (374,542) (190,215)
Income tax benefit 0 523 158 1,302
Net loss $ (171,897) $ (97,540) $ (374,384) $ (188,913)
Per share data        
Net loss per share of class A, B and Exchangeable common stock, basic (in dollars per share) $ (0.41) $ (0.40) $ (0.91) $ (0.79)
Net loss per share of class A, B and Exchangeable common stock, diluted (in dollars per share) $ (0.41) $ (0.40) $ (0.91) $ (0.79)
Weighted-average shares (Class A, B and Exchangeable) outstanding, basic (in shares) 417,361,147 242,196,409 410,268,199 239,107,879
Weighted-average shares (Class A, B and Exchangeable) outstanding, diluted (in shares) 417,361,147 242,196,409 410,268,199 239,107,879
Operating revenue        
Revenue        
Total revenue $ 19,103 $ 14,404 $ 33,921 $ 27,895
Grant revenue        
Revenue        
Total revenue $ 120 $ 13 $ 47 $ 316