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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Total revenues $ 247 $ 258 $ 117
Operating expenses:      
Research and development (Includes $25, ($39) and ($110) payments to/(from) a related party) 523 448 340
General and administrative (Includes $5, $2 and $— payments to a related party) 110 120 117
Impairment of long-lived assets (see Note 14, Leases) 0 20 0
Total operating expenses 633 588 457
Loss from operations (386) (330) (340)
Non-operating income (expense):      
Interest and other income, net 41 52 41
Interest expense (8) (4) (2)
Total non-operating income, net 33 48 39
Loss before income taxes (353) (282) (301)
Income tax expense 0 (1) (6)
Net loss $ (353) $ (283) $ (307)
Net loss per share, basic (in dollars per share) $ (3.29) $ (3.14) $ (4.15)
Net loss per share, diluted (in dollars per share) $ (3.29) $ (3.14) $ (4.15)
Shares used to compute net loss per share, basic (in shares) 107.4 90.1 74.0
Shares used to compute net loss per share, diluted (in shares) 107.4 90.1 74.0
License and development services      
Revenues:      
Total revenues $ 221 $ 222 $ 80
Other Collaboration Revenue      
Revenues:      
Total revenues $ 26 $ 36 $ 37