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Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues $ 2,820   $ 2,820 $ 16,146
Costs and operating expenses:        
Cost of revenues       475
Research and development 17,133 $ 13,953 34,177 26,982
General and administrative 5,437 6,079 11,307 14,326
Total costs and operating expenses 22,570 20,032 45,484 41,783
Loss from operations (19,750) (20,032) (42,664) (25,637)
Other income, net:        
Interest and investment income 995 2,023 2,236 3,573
Sublease income 684 708 1,199 1,507
Total other income, net 1,679 2,731 3,435 5,080
Loss before income taxes (18,071) (17,301) (39,229) (20,557)
Income tax expense 283   283  
Net loss $ (18,354) $ (17,301) $ (39,512) $ (20,557)
Net loss per common share - basic $ (0.3) $ (0.29) $ (0.64) $ (0.37)
Net loss per common share - diluted $ (0.3) $ (0.29) $ (0.64) $ (0.37)
Weighted average shares of common stock outstanding - basic 61,918,826 60,495,675 61,486,290 55,892,479
Weighted average shares of common stock outstanding - diluted 61,918,826 60,495,675 61,486,290 55,892,479
Other comprehensive loss:        
Net unrealized loss on marketable debt securities $ (54) $ (42) $ (175) $ (165)
Other comprehensive loss (54) (42) (175) (165)
Comprehensive loss (18,408) $ (17,343) (39,687) (20,722)
Milestone revenue        
Revenues $ 2,820   $ 2,820  
Sale of Royalty Rights        
Revenues       8,000
Royalty Revenues        
Revenues       $ 8,146