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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
Operating expenses:        
Research and development $ 224,134 $ 134,932 $ 429,883 $ 252,953
General and administrative 40,580 21,711 75,591 44,549
Total operating expenses 264,714 156,643 505,474 297,502
Loss from operations (264,714) (156,643) (505,474) (297,502)
Other income (expense), net:        
Interest income 22,404 21,487 47,319 45,247
Interest and other income (expense), net (899) 16 (909) (2,793)
Change in fair value of warrant liabilities and contingent earn-out shares (4,578) 1,907 (2,139) 5,812
Total other income, net 16,927 23,410 44,271 48,266
Loss before income taxes (247,787) (133,233) (461,203) (249,236)
Net loss $ (247,787) $ (133,233) $ (461,203) $ (249,236)
Net loss per share attributable to common stockholders, basic $ (1.31) $ (0.81) $ (2.45) $ (1.51)
Net loss per share attributable to common stockholders, diluted $ (1.31) $ (0.81) $ (2.45) $ (1.51)
Weighted-average common shares used to compute net loss per share, basic 188,583,288 165,141,936 188,365,805 164,935,542
Weighted-average common shares used to compute net loss per share, diluted 188,583,288 165,141,936 188,365,805 164,935,542
Comprehensive loss:        
Net Income (Loss) $ (247,787) $ (133,233) $ (461,203) $ (249,236)
Other comprehensive loss:        
Unrealized loss on investments, net (405) (665) (19) (2,407)
Comprehensive loss $ (248,192) $ (133,898) $ (461,222) $ (251,643)