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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues [Abstract]        
Total revenue $ 0 $ 0 $ 1,300,000 $ 100,000
Operating expenses:        
Research and development 28,535,000 38,893,000 87,679,000 170,376,000
General and administrative 5,277,000 7,904,000 17,723,000 111,244,000
Total operating expenses 33,812,000 46,797,000 105,402,000 281,620,000
Loss from operations (33,812,000) (46,797,000) (104,102,000) (281,520,000)
Other income (expense):        
Gain related to transaction with Acquirer 0 0 0 2,021,498,000
Interest expense (3,181,000) 0 (9,011,000) (13,491,000)
Interest income 1,783,000 2,892,000 6,236,000 8,937,000
Other income (expense), net (46,000) 41,000 (342,000) 15,000
Total other income (expense) (1,444,000) 2,933,000 (3,117,000) 2,016,959,000
Income (loss) before income tax expense (35,256,000) (43,864,000) (107,219,000) 1,735,439,000
Provision for income taxes 0 0 2,000 2,000
Net income (loss) $ (35,256,000) $ (43,864,000) $ (107,221,000) $ 1,735,437,000
Earnings (loss) per share        
Basic (in dollars per share) $ (2.28) $ (2.84) $ (6.93) $ 119.04
Diluted (in dollars per share) $ (2.28) $ (2.84) $ (6.93) $ 117.09
Shares used in computing earnings (loss) per share        
Basic (in shares) 15,478 15,468 15,471 14,578
Diluted (in shares) 15,478 15,468 15,471 14,821
License fee revenue        
Revenues [Abstract]        
Total revenue $ 0 $ 0 $ 1,300,000 $ 100,000