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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
Common Stock
Additional Paid-in Capital
Additional Paid-in Capital
Series A 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, 2022           0                
Beginning balance at Dec. 31, 2022           $ 0                
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                
Beginning balance (in shares) at Dec. 31, 2022         0 0                
Beginning balance (in shares) at Dec. 31, 2022             2,614,000              
Beginning balance at Dec. 31, 2022 $ 50,305       $ 0 $ 0 $ 6     $ 475,971     $ (48) $ (425,624)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
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 pre-funded warrants (in shares)             905,000              
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 gain (loss) 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     437,000 0                
Ending balance (in shares) at Dec. 31, 2023             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]                            
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 exercise of pre-funded warrants (in shares)             250,000              
Issuance of common stock in connection with exercise of pre-funded warrants 1                 1        
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        
CVR distribution to common stockholders (in shares)             38,000              
Stock-based compensation expense 30,374                 30,374        
Issuance of Parapyre Option Obligation warrants 14,459                 14,459        
Foreign currency translation adjustment 4                       4  
Unrealized gain (loss) on marketable securities (126)                       (126)  
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        
Issuance of common stock in connection with at-the-market offering program, 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 offering, 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        
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)
Ending balance (in shares) at Dec. 31, 2025           0                
Ending balance at Dec. 31, 2025           $ 0                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                            
Issuance of common stock in connection with exercise of stock options and employee stock purchase plan (in shares)             354,000              
Issuance of common stock in connection with exercise of stock options and employee stock purchase plan 3,306                 3,306        
Stock-based compensation expense 37,614                 37,614        
Foreign currency translation adjustment (22)                       (22)  
Unrealized gain (loss) on marketable securities 711                       711  
Issuance of common stock in connection with at-the-market offering program, net of financing costs (in shares)             446,000              
Issuance of common stock in connection with at-the-market offering program, net of financing costs 14,745                 14,745        
Issuance of common stock in connection with follow-on offering, net of financing costs (in shares)             17,095,000              
Issuance of common stock in connection with follow-on offering, net of financing costs 296,281           $ 2     296,279        
Vesting of restricted stock units (in shares)             38,000              
Net loss $ (155,203) $ (27,344) $ (1,317) $ (126,541)                   (155,203)
Ending balance (in shares) at Dec. 31, 2025   346,045 16,667   346,000 17,000                
Ending balance (in shares) at Dec. 31, 2025 78,189,811           78,190,000              
Ending balance at Dec. 31, 2025 $ 715,236       $ 146,425 $ 9,395 $ 15     $ 1,686,167     $ 869 $ (1,127,635)