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Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income        
Collaboration revenue $ 24,629 $ 4,614 $ 73,723 $ 159,947
Operating expenses:        
Research and development 30,241 25,863 91,785 66,416
General and administrative 8,168 8,258 26,926 25,580
Total operating expenses 38,409 34,121 118,711 91,996
Operating (loss) income (13,780) (29,507) (44,988) 67,951
Other income:        
Interest income 4,579 3,429 14,334 8,567
Other income 200   220 3
Total other income, net 4,779 3,429 14,554 8,570
(Loss) income before income taxes (9,001) (26,078) (30,434) 76,521
Income tax provision (benefit) 43 (177) 81 586
Net (loss) income (9,044) (25,901) (30,515) 75,935
Other comprehensive (loss) income:        
Net unrealized gain (loss) on available-for-sale securities 489 (115) 15 (29)
Total other comprehensive income (loss) 489 (115) 15 (29)
Comprehensive (loss) income $ (8,555) $ (26,016) $ (30,500) $ 75,906
Net (loss) income per share, basic $ (0.16) $ (0.59) $ (0.53) $ 1.85
Net (loss) income per share, diluted $ (0.16) $ (0.59) $ (0.53) $ 1.78
Weighted-average common shares outstanding, basic 57,851,110 43,864,838 57,564,413 40,962,116
Weighted-average common shares outstanding, diluted 57,851,110 43,864,838 57,564,413 42,610,724