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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:        
Collaboration revenue $ 0 $ 302 $ 0 $ 1,275
Total revenues 0 302 0 1,275
Operating expenses:        
Acquired in-process research and development 0 84,883 0 84,883
Research and development 24,817 6,657 49,417 12,576
General and administrative 6,502 4,746 12,681 8,342
Reversal due to settlement of indirect tax liabilities (3,935) 0 (9,445) 0
Total operating expenses 27,384 96,286 52,653 105,801
Loss from operations (27,384) (95,984) (52,653) (104,526)
Other income (expense), net:        
Other expense, net 0 0 (110) 0
Interest income, net 1,666 1,774 3,565 2,139
Other income, net 1,666 1,774 3,455 2,139
Net loss from continuing operations (25,718) (94,210) (49,198) (102,387)
Income from discontinued operations (including loss on disposal of discontinued operations of $1,799 during the three and six months ended June 30, 2024), net of income taxes 0 3,001 0 852
Net loss and comprehensive loss (25,718) (91,209) (49,198) (101,535)
Net loss and comprehensive loss $ (25,718) $ (91,209) $ (49,198) $ (101,535)
Basic net loss per common share from continuing operations (in dollars per share) $ (1.65) $ (20.65) $ (3.31) $ (22.50)
Diluted net loss per common share from continuing operations (in dollars per share) (1.65) (20.65) (3.31) (22.50)
Basic net earnings per common share from discontinued operations (in dollars per share) 0 0.66 0 0.19
Diluted net earnings per common share from discontinued operations (in dollars per share) 0 0.66 0 0.19
Basic net loss per common share (in dollars per share) (1.65) (19.99) (3.31) (22.31)
Diluted net loss per common share (in dollars per share) $ (1.65) $ (19.99) $ (3.31) $ (22.31)
Shares used to compute basic net loss per common share (in shares) 15,547,403 4,563,772 14,866,349 4,550,774
Shares used to compute diluted net loss per common share (in shares) 15,547,403 4,563,772 14,866,349 4,550,774