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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue:        
License and collaboration revenue $ 0 $ 41,716 $ 12,595 $ 194,238
Total revenue 0 41,716 12,595 194,238
Operating expenses:        
Research and development expenses 29,186 26,910 54,885 48,006
General and administrative expenses 13,435 11,471 25,385 22,086
Total operating expenses 42,621 38,381 80,270 70,092
(Loss) income from operations (42,621) 3,335 (67,675) 124,146
Other income and expenses:        
Grant income 799 147 1,534 638
Research and development tax credits 386 292 729 546
Interest income 8,042 1,063 15,893 1,151
Other income (expense), net 326 3,606 2,099 1,495
(Loss) Income before income taxes (33,068) 8,443 (47,420) 127,976
Income tax expense (1,232) (2,817) (2,431) (52,768)
Net (loss) income $ (34,300) $ 5,626 $ (49,851) $ 75,208
Basic net (loss) income per common share $ (0.96) $ 0.16 $ (1.39) $ 2.12
Diluted net (loss) income per common share $ (0.96) $ 0.15 $ (1.39) $ 1.98
Weighted-average common shares outstanding - basic 35,768,952 35,546,605 35,742,641 35,520,086
Weighted-average common shares outstanding - diluted 35,768,952 37,635,828 35,742,641 37,931,692
Net Income (Loss) $ (34,300) $ 5,626 $ (49,851) $ 75,208
Foreign currency translation adjustments 104 (741) (1,902) (1,291)
Unrealized loss on available-for-sale securities (1,722) 0 (1,620) 0
Comprehensive (loss) income $ (35,918) $ 4,885 $ (53,373) $ 73,917