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Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Collaboration revenue:      
Collaboration revenue from customers [1] $ 105,065 $ 48,657 $ 335,561
Other collaboration revenue 3,398 4 98
Total collaboration revenue 108,463 48,661 335,659
Operating expenses:      
Research and development [2] 358,732 265,353 212,615
General and administrative 90,475 79,059 60,326
Total operating expenses 449,207 344,412 272,941
Income (loss) from operations (340,744) (295,751) 62,718
Interest and other income, net 14,774 4,595 9,241
Income (loss) before income taxes (325,970) (291,156) 71,959
Income tax benefit (expense) (21) 575 (823)
Net income (loss) (325,991) (290,581) 71,136
Other comprehensive income (loss):      
Net unrealized loss on marketable securities, net of tax (4,387) (2,254) (595)
Comprehensive income (loss) $ (330,378) $ (292,835) $ 70,541
Net income (loss) per share:      
Basic net income (loss) per share (usd per share) $ (2.60) $ (2.39) $ 0.65
Diluted net income (loss) per share (usd per share) $ (2.60) $ (2.39) $ 0.63
Weighted-average shares used in calculating:      
Basic net income (loss) per share (in shares) 125,530,703 121,524,795 108,974,137
Diluted net income (loss) per share (in shares) 125,530,703 121,524,795 112,703,108
[1] Includes related-party collaboration revenue from customers of $3.2 million, $3.7 million, and $307.4 million for the years ended December 31, 2022, 2021 and 2020 respectively.
[2] Includes expense for cost sharing payments to a related party of $8.2 million for the year ended December 31, 2022 and an offset to expense from related-party cost reimbursements of $6.5 million and $9.3 million for the years ended December 31, 2021 and 2020, respectively.