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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating expenses:    
Research and development expenses $ 11,821 $ 19,494
General and administrative expenses 11,888 14,944
Manufacturing services 3,527 0
Total operating expenses 27,236 34,438
Loss from operations (27,236) (34,438)
Other income (expense):    
Gain on sale of VOWST Business 52,181 0
Interest income 618 1,648
Interest expense 0 (618)
Other income [1] 7,119 505
Total other income, net 59,918 1,535
Net income (loss) from continuing operations 32,682 (32,903)
Net (loss) from discontinuing operations, net of tax 0 (7,230)
Net income (loss) $ 32,682 $ (40,133)
Net income (loss) from continuing operations per share attributable to common stockholders - basic $ 3.76 $ (4.5)
Net (loss) from discontinued operations per share attributable to common stockholders - basic 0 (0.99)
Net income (loss) per share attributable to common stockholders - basic 3.76 (5.49)
Net income (loss) from continuing operations per share attributable to common stockholders - diluted 3.75 (4.5)
Net (loss) from discontinuing operations attributable to common stockholders - diluted 0 (0.99)
Net income (loss) per share attributable to common stockholders - diluted $ 3.75 $ (5.49)
Weighted average common shares outstanding - basic 8,703,221 7,305,026
Weighted average common shares outstanding - diluted 8,714,701 7,305,026
[1] Includes $6,309 for the three months ended March 31, 2025 related to reimbursement received from SPN (related party) for transition services provided by the Company.