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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue:        
Revenue $ 12,500 $ 0 $ 17,500 $ 0
Revenue from Contract with Customer, Product and Service [Extensible Enumeration] License revenue License revenue License revenue License revenue
Operating expenses:        
Selling, general and administrative $ 27,596 $ 6,494 $ 51,505 $ 19,452
Research and development 3,791 6,451 18,670 23,933
Total operating expenses 31,387 12,945 70,175 43,385
Loss from operations (18,887) (12,945) (52,675) (43,385)
Other income:        
Other (expense) income (14) (6) 174 281
Interest income 2,201 2,736 6,770 5,987
Total other income, net 2,187 2,730 6,944 6,268
Net loss before income taxes (16,700) (10,215) (45,731) (37,117)
Income tax expense 0 0 500 0
Net loss (16,700) (10,215) (46,231) (37,117)
Other comprehensive loss:        
Unrealized gain on marketable securities 189 585 31 517
Comprehensive loss $ (16,511) $ (9,630) $ (46,200) $ (36,600)
Net loss per share - basic (in dollars per share) $ (0.59) $ (0.38) $ (1.65) $ (1.93)
Net loss per share - diluted (in dollars per share) $ (0.59) $ (0.38) $ (1.65) $ (1.93)
Weighted-average common shares outstanding, basic (in shares) [1] 28,540,519 27,172,330 28,052,279 19,195,399
Weighted-average common shares outstanding, diluted (in shares) [1] 28,540,519 27,172,330 28,052,279 19,195,399
[1] See Note 2 for further information on weighted-average common shares outstanding.