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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
Operating expenses:        
Research and development $ 29,809 $ 14,645 $ 53,166 $ 26,350
General and administrative 11,094 9,813 19,896 20,312
Total operating expenses 40,903 24,458 73,062 46,662
Loss from operations (40,903) (24,458) (73,062) (46,662)
Other income/(expense):        
Interest income 2,774 3,116 5,207 4,772
Interest expense (2,338) (466) (2,940) (900)
Foreign exchange loss, net (49) (32) (68) (557)
Change in fair value of 2022 USD Financing Warrants (2,228) 13,445 4,771 (19,448)
Gain on extinguishment of contribution payable   2,541 0 2,541
Total other income/(expense) (1,841) 18,604 6,970 (13,592)
Net loss (42,744) (5,854) (66,092) (60,254)
Comprehensive loss        
Unrealized gain on investments 36   46  
Gain/(loss) on foreign currency translation (31) (3) (58) 490
Comprehensive loss $ (42,739) $ (5,857) $ (66,104) $ (59,764)
Net loss per common share, basic $ (0.5) $ (0.08) $ (0.78) $ (1.01)
Net loss per common share, diluted $ (0.5) $ (0.26) $ (0.81) $ (1.01)
Weighted-average common shares, basic 85,347,677 71,912,323 85,208,539 59,886,540
Weighted-average common shares, diluted 85,347,677 75,304,101 87,099,006 59,886,540