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Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
Total revenue $ 11,489 $ 95,842 $ 21,378 $ 95,842
Operating expenses:        
Research and development 41,575 35,086 79,616 67,478
General and administrative 8,679 8,669 17,337 18,236
Total operating expenses 50,254 43,755 96,953 85,714
Income (loss) from operations (38,765) 52,087 (75,575) 10,128
Other income (expense)        
Interest income 542 1,749 836 2,093
Interest expense (2,744) (2,916) (5,490) (6,045)
Other income, net 2,694 2,747 5,318 5,563
Total other income, net 492 1,580 664 1,611
Income (loss) before provision for income taxes (38,273) 53,667 (74,911) 11,739
Provision for income taxes 0 4,435 0 4,435
Net income (loss) (38,273) 49,232 (74,911) 7,304
Other comprehensive income (loss):        
Foreign currency translation (4,195) 135 (6,098) 16
Unrealized loss on marketable securities (69) (25) (179) (184)
Other comprehensive income (loss) (4,264) 110 (6,277) (168)
Comprehensive income (loss) $ (42,537) $ 49,342 $ (81,188) $ 7,136
Net income (loss) per share, basic (in dollars per share) $ (0.17) $ 0.22 $ (0.33) $ 0.03
Net income (loss) per share, diluted (in dollars per share) $ (0.17) $ 0.22 $ (0.33) $ 0.03
Weighted average common shares outstanding, basic (in shares) 227,275,466 226,221,202 227,048,022 225,978,219
Weighted average common shares outstanding, diluted (in shares) 227,275,466 238,543,102 227,048,022 225,978,219
Revenue from sale of licenses        
Revenue:        
Total revenue $ 0 $ 88,751 $ 0 $ 88,751
Revenue from contracts with collaborators        
Revenue:        
Total revenue $ 11,489 $ 7,091 $ 21,378 $ 7,091