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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Collaboration revenue $ 19,570 $ 43,735 $ 173,384 $ 87,165
Operating expenses:        
Research and development 31,257 22,191 91,900 71,593
General and administrative 9,971 7,532 28,606 23,639
Total operating expenses 41,228 29,723 120,506 95,232
(Loss) income from operations (21,658) 14,012 52,878 (8,067)
Other income:        
Interest and other income 5,766 4,051 14,346 10,926
Total other income 5,766 4,051 14,346 10,926
(Loss) income before provision for income taxes (15,892) 18,063 67,224 2,859
(Benefit from) provision for income taxes (1,860) (17,398) 2,729 0
Net (loss) income $ (14,032) $ 35,461 $ 64,495 $ 2,859
Net (loss) income per share, basic (in dollars per share) $ (0.35) $ 1.07 $ 1.79 $ 0.09
Net (loss) income per share, diluted (in dollars per share) $ (0.35) $ 1.02 $ 1.72 $ 0.08
Weighted-average common shares outstanding, basic (in shares) 40,629,602 33,281,287 36,118,930 32,942,958
Weighted-average common shares outstanding, diluted (in shares) 40,629,602 34,775,451 37,583,486 34,289,411
Other comprehensive income (loss):        
Unrealized gain (loss) on marketable securities $ 1,301 $ 509 $ 777 $ 1,561
Total other comprehensive income (loss) 1,301 509 777 1,561
Total comprehensive (loss) income $ (12,731) $ 35,970 $ 65,272 $ 4,420