<?xml version="1.0"?>
<informationTable xsi:schemaLocation="http://www.sec.gov/edgar/document/thirteenf/informationtable eis_13FDocument.xsd"
	xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable"
	xmlns:n1="http://www.sec.gov/edgar/document/thirteenf/informationtable"
	xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
	<infoTable>
		<nameOfIssuer>ABIVAX SA</nameOfIssuer>
		<titleOfClass>SPONSORED ADS</titleOfClass>
		<cusip>00370M103</cusip>
		<value>162785237</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1461924</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1461924</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ADMA BIOLOGICS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>000899104</cusip>
		<value>42856164</value>
		<shrsOrPrnAmt>
			<sshPrnamt>4756511</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>4756511</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ADMA BIOLOGICS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>000899104</cusip>
		<value>2703000</value>
		<shrsOrPrnAmt>
			<sshPrnamt>300000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<putCall>Call</putCall>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>300000</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>AGIOS PHARMACEUTICALS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>00847X104</cusip>
		<value>3044700</value>
		<shrsOrPrnAmt>
			<sshPrnamt>90000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<putCall>Call</putCall>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>90000</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ANIKA THERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>035255108</cusip>
		<value>20809385</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1435130</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1435130</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>AURA BIOSCIENCES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>05153U107</cusip>
		<value>1537790</value>
		<shrsOrPrnAmt>
			<sshPrnamt>229864</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>229864</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>AVALO THERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>05338F306</cusip>
		<value>24410893</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1635023</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1635023</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CG ONCOLOGY INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>156944100</cusip>
		<value>60912000</value>
		<shrsOrPrnAmt>
			<sshPrnamt>900000</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<putCall>Call</putCall>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>900000</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EXELIXIS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>30161Q104</cusip>
		<value>66619407</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1553262</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1553262</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>INVENTIVA SA</nameOfIssuer>
		<titleOfClass>ADS</titleOfClass>
		<cusip>46124U107</cusip>
		<value>27610728</value>
		<shrsOrPrnAmt>
			<sshPrnamt>4974906</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>4974906</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>LB PHARMACEUTICALS INC</nameOfIssuer>
		<titleOfClass>COM SHS</titleOfClass>
		<cusip>50180M108</cusip>
		<value>34628726</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1438070</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1438070</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>LIQUIDIA CORPORATION</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>53635D202</cusip>
		<value>306406984</value>
		<shrsOrPrnAmt>
			<sshPrnamt>8118892</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>8118892</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MAZE THERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>578784100</cusip>
		<value>18356616</value>
		<shrsOrPrnAmt>
			<sshPrnamt>614962</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>614962</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MBX BIOSCIENCES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>55287L101</cusip>
		<value>25330412</value>
		<shrsOrPrnAmt>
			<sshPrnamt>848590</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>848590</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MINERALYS THERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>603170101</cusip>
		<value>75111197</value>
		<shrsOrPrnAmt>
			<sshPrnamt>2772654</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>2772654</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>OPUS GENETICS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>67577R102</cusip>
		<value>27641377</value>
		<shrsOrPrnAmt>
			<sshPrnamt>6075028</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>6075028</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>REVOLUTION MEDICINES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>76155X100</cusip>
		<value>160735578</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1652808</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1652808</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>REVOLUTION MEDICINES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>76155X100</cusip>
		<value>22260525</value>
		<shrsOrPrnAmt>
			<sshPrnamt>228900</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<putCall>Call</putCall>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>228900</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SAB BIOTHERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>78397T202</cusip>
		<value>30514403</value>
		<shrsOrPrnAmt>
			<sshPrnamt>7967207</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>7967207</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SENSEI BIOTHERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>81728A207</cusip>
		<value>3971583</value>
		<shrsOrPrnAmt>
			<sshPrnamt>126002</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>126002</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SPYRE THERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>00773J202</cusip>
		<value>44292726</value>
		<shrsOrPrnAmt>
			<sshPrnamt>878127</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>878127</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>TANGO THERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>87583X109</cusip>
		<value>50392054</value>
		<shrsOrPrnAmt>
			<sshPrnamt>2408798</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>2408798</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>TYRA BIOSCIENCES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>90240B106</cusip>
		<value>48907874</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1276968</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1276968</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>VAXCYTE INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>92243G108</cusip>
		<value>119748381</value>
		<shrsOrPrnAmt>
			<sshPrnamt>2060719</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>2060719</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>VERRICA PHARMACEUTICALS INC</nameOfIssuer>
		<titleOfClass>COM SHS</titleOfClass>
		<cusip>92511W207</cusip>
		<value>4887484</value>
		<shrsOrPrnAmt>
			<sshPrnamt>923910</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>923910</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>VOR BIOPHARMA INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>929033207</cusip>
		<value>34343177</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1925066</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1925066</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>XENON PHARMACEUTICALS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>98420N105</cusip>
		<value>81004520</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1393027</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1393027</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>XILIO THERAPEUTICS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>98422T209</cusip>
		<value>942996</value>
		<shrsOrPrnAmt>
			<sshPrnamt>112128</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>112128</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
</informationTable>
