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Consolidated Statements of Changes in Convertible Preferred Stock and Stockholders’ Equity - USD ($)
$ in Thousands
Total
Series A Non-Voting Convertible Preferred Stock
Series B Non-Voting Convertible Preferred Stock
Common Stock
Preferred Stock
Series A Non-Voting Convertible Preferred Stock
Preferred Stock
Series B Non-Voting Convertible Preferred Stock
Common Stock
Common Stock
Series A Non-Voting Convertible Preferred Stock
Common Stock
Series B Non-Voting Convertible Preferred Stock
Common Stock
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Series A Non-Voting Convertible Preferred Stock
Additional Paid-in Capital
Series B Non-Voting Convertible Preferred Stock
Additional Paid-in Capital
Common Stock
Accumulated Other Comprehensive (Loss) Income
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2021 0                              
Beginning balance at Dec. 31, 2021 $ 0                              
Ending balance (in shares) at Dec. 31, 2022 0                              
Ending balance at Dec. 31, 2022 $ 0                              
Beginning balance (in shares) at Dec. 31, 2021         0 0                    
Beginning balance (in shares) at Dec. 31, 2021             1,974,000                  
Beginning balance at Dec. 31, 2021 83,941       $ 0 $ 0 $ 5       $ 425,765       $ (20) $ (341,809)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Issuance of common stock and pre-funded warrants in connection with registered direct offering, net of offering costs (in shares)             430,000                  
Issuance of common stock and pre-funded warrants in connection with registered direct offering, net of offering costs 42,874           $ 1       42,873          
Issuance of common stock in connection with exercise of pre-funded warrants (in shares)             204,000                  
Issuance of common stock in connection with employee stock purchase plan (in shares)             6,000                  
Issuance of common stock in connection with employee stock purchase plan 222                   222          
Stock-based compensation expense 7,111                   7,111          
Foreign currency translation adjustment (35)                           (35)  
Unrealized (loss) gain on marketable securities 7                           7  
Net loss (83,815) $ 0 $ 0 $ (83,815)                       (83,815)
Ending balance (in shares) at Dec. 31, 2022         0 0                    
Ending balance (in shares) at Dec. 31, 2022             2,614,000                  
Ending balance at Dec. 31, 2022 $ 50,305       $ 0 $ 0 $ 6       475,971       (48) (425,624)
Increase (Decrease) in Temporary Equity [Roll Forward]                                
Issuance of Series B non-voting convertible preferred stock in connection with private placement, net of financing costs (in shares) 150,000                              
Issuance of Series B non-voting convertible preferred stock in connection with private placement, net of financing costs $ 84,555                              
Ending balance (in shares) at Dec. 31, 2023 150,000                              
Ending balance at Dec. 31, 2023 $ 84,555                              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Issuance of common stock in connection with exercise of pre-funded warrants (in shares)             905,000                  
Issuance of stock in connection with private placement, net of financing costs (in shares)         721,000         6,000,000            
Issuance of stock in connection with private placement, net of financing costs   197,364   84,555 $ 197,364                 $ 84,555    
Issuance of Series A non-voting convertible preferred stock in connection with the asset acquisition of Spyre and settlement of related forward contract (in shares)         365,000                      
Issuance of Series A non-voting convertible preferred stock in connection with the asset acquisition of Spyre and settlement of related forward contract 189,741       $ 189,741                      
Conversion of non-voting convertible preferred stock into common stock (in shares)         (649,000)     25,972,000                
Conversion of non-voting convertible preferred stock into common stock   0     $ (202,178)     $ 3       $ 202,175        
Issuance of common stock in connection with the asset acquisition of Spyre (in shares)             518,000                  
Issuance of common stock in connection with the asset acquisition of Spyre 3,768           $ 1       3,767          
Issuance of common stock in connection with exercise of stock options and employee stock purchase plan (in shares)             48,000                  
Issuance of common stock in connection with exercise of stock options and employee stock purchase plan 405                   405          
CVR distribution to common stockholders (29,500)                   (29,500)          
Stock-based compensation expense 14,347                   14,347          
Issuance of Parapyre Option Obligation warrants 11,471                   11,471          
Foreign currency translation adjustment 37                           37  
Unrealized (loss) gain on marketable securities 313                           313  
Net loss $ (338,790) $ (239,158) $ (4,749) (94,883)                       (338,790)
Ending balance (in shares) at Dec. 31, 2023   437,037 16,667   437,000 0                    
Ending balance (in shares) at Dec. 31, 2023 36,057,109           36,057,000                  
Ending balance at Dec. 31, 2023 $ 184,016       $ 184,927 $ 0 $ 10       763,191       302 (764,414)
Increase (Decrease) in Temporary Equity [Roll Forward]                                
Issuance of Series B non-voting convertible preferred stock in connection with private placement, net of financing costs (in shares) 122,000                              
Issuance of Series B non-voting convertible preferred stock in connection with private placement, net of financing costs $ 168,850                              
Stockholder approval of the issuance of Common Stock upon conversion of Series B convertible non-voting preferred stock (in shares)           (272,000)                    
Stockholder approval of the issuance of common stock upon conversion of Series B convertible non-voting preferred stock           $ (253,405)                    
Ending balance (in shares) at Dec. 31, 2024 0                              
Ending balance at Dec. 31, 2024 $ 0                              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                
Issuance of common stock in connection with exercise of pre-funded warrants (in shares)             250,000                  
Issuance of common stock in connection with exercise of pre-funded warrants 1                   1          
Stockholder approval of the issuance of Common Stock upon conversion of Series B convertible non-voting preferred stock (in shares)           272,000                    
Stockholder approval of the issuance of common stock upon conversion of Series B convertible non-voting preferred stock 253,405         $ 253,405                    
Exchange of Series A non-voting convertible preferred stock for common stock (in shares)         (91,000)   3,640,000                  
Exchange of Series A non-voting convertible preferred stock for common stock 0       $ (38,502)   $ 1       38,501          
Conversion of non-voting convertible preferred stock into common stock (in shares)           (255,000)     10,198,000              
Conversion of non-voting convertible preferred stock into common stock     $ 0     $ (244,010)     $ 1       $ 244,009      
Issuance of common stock in connection with at-the-market offerings, net of financing costs (in shares)             777,000                  
Issuance of common stock in connection with at-the-market offering program, net of financing costs 20,504                   20,504          
Issuance of common stock in connection with follow-on offerings, net of financing costs (in shares)             8,366,000                  
Issuance of common stock in connection with follow-on offering, net of financing costs 215,674           $ 1       215,673          
Issuance of common stock in connection with exercise of stock options and employee stock purchase plan (in shares)             931,000                  
Issuance of common stock in connection with exercise of stock options and employee stock purchase plan 7,511                   7,511          
Stock-based compensation expense 30,374                   30,374          
Issuance of Parapyre Option Obligation warrants $ 14,459                   14,459          
Vesting of restricted stock units (in shares) 38,000                              
Foreign currency translation adjustment $ 4                           4  
Unrealized (loss) gain on marketable securities (126)                           (126)  
Net loss $ (208,018) $ (47,624) $ (10,839) $ (149,555)                       (208,018)
Ending balance (in shares) at Dec. 31, 2024   346,045 16,667   346,000 17,000                    
Ending balance (in shares) at Dec. 31, 2024 60,257,023           60,257,000                  
Ending balance at Dec. 31, 2024 $ 517,804       $ 146,425 $ 9,395 $ 13       $ 1,334,223       $ 180 $ (972,432)