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Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Total revenues $ 240 $ 2,380 $ 4,486 $ 61,831
Operating expenses:        
Cost of revenue (11) 50 0 161
Research and development 151,463 195,178 367,617 400,416
Selling, general and administrative 22,231 25,744 68,458 92,330
Restructuring, long-lived assets impairment and related charges, net 0 12,712 (182) 38,939
Total operating expenses 173,683 233,684 435,893 531,846
Loss from operations (173,443) (231,304) (431,407) (470,015)
Other income:        
Change in fair value of equity investments 1,335 1,130 4,335 (4,356)
Interest income 9,363 17,527 32,436 57,656
Other expense, net (228) (893) (74) (1,715)
Total other income 10,470 17,764 36,697 51,585
Loss before (provision for) benefit from income taxes (162,973) (213,540) (394,710) (418,430)
(Provision for) benefit from income taxes (168) (177) (354) 1,059
Net loss $ (163,141) $ (213,717) $ (395,064) $ (417,371)
Net loss per share, basic (in USD per share) $ (1.17) $ (1.56) $ (2.86) $ (3.07)
Net loss per share, diluted (in USD per share) $ (1.17) $ (1.56) $ (2.86) $ (3.07)
Weighted-average shares outstanding, basic (in shares) 138,930,173 136,653,753 138,287,533 136,058,223
Weighted-average shares outstanding, diluted (in shares) 138,930,173 136,653,753 138,287,533 136,058,223
Collaboration revenue        
Revenues:        
Total revenues $ (65) $ (1,102) $ (630) $ (2,034)
Contract revenue        
Revenues:        
Total revenues 0 1,391 3,390 54,468
Grant revenue        
Revenues:        
Total revenues $ 305 $ 2,091 $ 1,726 $ 9,397