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Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Collaboration revenue $ 0 $ 80,000 $ 0 $ 80,000
Operating expenses:        
Research and development 12,987 17,261 26,391 37,034
General and administrative 6,828 10,247 13,827 20,308
Total operating expenses 19,815 27,508 40,218 57,342
(Loss) income from operations (19,815) 52,492 (40,218) 22,658
Other income, net 2,519 2,917 5,267 5,881
Net (loss) income $ (17,296) $ 55,409 $ (34,951) $ 28,539
Net (loss) income per share, basic $ (0.28) $ 0.89 $ (0.56) $ 0.46
Net (loss) income per share, diluted $ (0.28) $ 0.87 $ (0.56) $ 0.45
Weighted-average common shares outstanding, basic 62,544 62,205 62,506 62,095
Weighted-average common shares outstanding, diluted 62,544 63,587 62,506 63,684
Comprehensive (loss) income:        
Net Income (Loss) $ (17,296) $ 55,409 $ (34,951) $ 28,539
Other comprehensive gain (loss):        
Unrealized gain (loss) on marketable securities 12 68 (48) (230)
Total other comprehensive gain (loss) 12 68 (48) (230)
Comprehensive (loss) income $ (17,284) $ 55,477 $ (34,999) $ 28,309