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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
Total revenue $ 688 $ 625 $ 886 $ 1,987
Operating expenses:        
Research and development [1] 17,386 15,373 31,162 32,351
General and administrative 12,062 7,675 17,290 16,500
Acquired in-process research and development 130,486 0 130,486 0
Total operating expenses 159,934 23,048 178,938 48,851
Loss from operations (159,246) (22,423) (178,052) (46,864)
Other income (expense):        
Interest income 350 104 770 139
Change in fair value of forward contract liability (58,170) 0 (58,170) 0
Other income (expense), net (8) 5 (80) 1
Total other (expense) income (57,828) 109 (57,480) 140
Loss before income tax expense (217,074) (22,314) (235,532) (46,724)
Income tax (expense) benefit (7) (9) 29 (35)
Net loss $ (217,081) $ (22,323) $ (235,503) $ (46,759)
Net loss per share, basic $ (2.27) $ (0.27) $ (2.48) $ (0.63)
Net loss per share, diluted $ (2.27) $ (0.27) $ (2.48) $ (0.63)
Weighted-average common shares outstanding, basic 95,565,118 82,209,032 94,917,487 73,650,146
Weighted-average common shares outstanding, diluted 95,565,118 82,209,032 94,917,487 73,650,146
Development Fee and Royalty [Member]        
Revenue:        
Total revenue $ 688 $ 625 $ 886 $ 1,987
[1] Includes $1.4 million and no related party expense, for the three and six months ended June 30, 2023 and 2022, respectively.