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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Total revenue from contracts with customers $ 8,828   $ 35,316  
Total revenue 8,828 $ 7,332 35,316 $ 15,221
Operating expenses:        
Research and development 93,926 49,119 174,042 87,703
General and administrative 25,252 22,587 47,364 38,701
Total operating expenses 119,178 71,706 221,406 126,404
Operating loss (110,350) (64,374) (186,090) (111,183)
Other income, net:        
Interest income, net 7,122 7,130 14,325 12,047
Foreign exchange gains (loss) (51,854) 9,519 (76,170) 18,053
Other expense (1,265)   (3,031)  
Total other income (loss), net (45,997) 16,649 (64,876) 30,100
Net loss before income taxes (156,347) (47,725) (250,966) (81,083)
Income tax expense 1,871 2,317 3,726 3,415
Net loss (158,218) (50,042) (254,692) (84,498)
Other comprehensive loss:        
Currency translation adjustment 50,733 (8,978) 73,838 (16,366)
Comprehensive loss $ (107,485) $ (59,020) $ (180,854) $ (100,864)
Net loss per share attributable to common stockholders:        
Basic $ (2.23) $ (0.81) $ (3.64) $ (1.41)
Diluted $ (2.23) $ (0.81) $ (3.64) $ (1.41)
Weighted-average common shares outstanding:        
Basic 71,096,937 61,851,260 69,996,121 59,968,338
Diluted 71,096,937 61,851,260 69,996,121 59,968,338
Commercial Material Revenue        
Total revenue from contracts with customers     $ 13,331  
Collaboration Revenue        
Total revenue from contracts with customers $ 8,828 $ 7,332 21,976 $ 15,221
Royalty Revenue        
Total revenue from contracts with customers     $ 9