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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
Collaboration revenue $ 1,225 $ 209 $ 3,794 $ 800
Operating expenses:        
Research and development 43,990 40,340 125,927 121,185
General and administrative 11,208 14,101 37,609 37,860
Total operating expenses 55,198 54,441 163,536 159,045
Loss from operations (53,973) (54,232) (159,742) (158,245)
Other income:        
Interest income 1,141 697 3,066 1,984
Amortization of premiums and discount on short-term investments 752 885 1,621 3,201
Change in fair value of short-term investment — related party 1,454 215 (107) (544)
Other income, net 44 (83) 99 (2)
Total other income, net 3,391 1,714 4,679 4,639
Net loss attributable to common stockholders, basic (50,582) (52,518) (155,063) (153,606)
Net loss attributable to common stockholders, diluted $ (50,582) $ (52,518) $ (155,063) $ (153,606)
Net loss per share attributable to common stockholders, basic (in dollars per share) $ (0.32) $ (0.44) $ (1.11) $ (1.34)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (0.32) $ (0.44) $ (1.11) $ (1.34)
Weighted-average common shares outstanding, basic (in shares) 160,503,183 119,764,270 139,244,743 114,492,416
Weighted-average common shares outstanding, diluted (in shares) 160,503,183 119,764,270 139,244,743 114,492,416
Comprehensive loss:        
Net loss $ (50,582) $ (52,518) $ (155,063) $ (153,606)
Change in unrealized loss on investments, net of tax 43 92 32 36
Comprehensive loss (50,539) (52,426) (155,031) (153,570)
Related Party        
Collaboration revenue 1,179 0 3,748 0
Nonrelated Party        
Collaboration revenue $ 46 $ 209 $ 46 $ 800