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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue $ 0 $ 174 $ 886 $ 2,161
Revenue from Contract with Customer, Product and Service [Extensible Enumeration] Development Fee and Royalty [Member] Development Fee and Royalty [Member] Development Fee and Royalty [Member] Development Fee and Royalty [Member]
Operating expenses (income):        
Research and development [1] $ 24,660 $ 11,977 $ 55,822 $ 44,328
General and administrative 8,584 6,952 25,874 23,452
Acquired in-process research and development (298) 0 130,188 0
Gain recognized within operating expenses (14,609) 0 (14,609) 0
Total operating expenses 18,337 18,929 197,275 67,780
Loss from operations (18,337) (18,755) (196,389) (65,619)
Other (expense) income:        
Interest income 1,251 288 2,021 427
Other income, net 2,342 24 2,262 25
Total other (expense) income (21,767) 312 (79,247) 452
Loss before income tax expense (40,104) (18,443) (275,636) (65,167)
Income tax (expense) benefit (3) 209 26 174
Net loss $ (40,107) $ (18,234) $ (275,610) $ (64,993)
Net loss per share, basic (in dollars per share) $ (9.34) $ (4.84) $ (69.57) $ (20.17)
Net loss per share, diluted (in dollars per share) $ (9.34) $ (4.84) $ (69.57) $ (20.17)
Weighted-average common shares outstanding, basic (in dollars per share) 4,293,812 3,767,918 3,961,546 3,222,987
Weighted-average common shares outstanding, diluted (in dollars per share) 4,293,812 3,767,918 3,961,546 3,222,987
Forward contract liability        
Other (expense) income:        
Change in fair value of forward contract liability $ (25,360) $ 0 $ (83,530) $ 0
[1] Includes $19.4 million and $20.8 million in related party expenses for the three and nine months ended September 30, 2023, respectively and no related party expenses for the three and nine months ended September 30, 2022.