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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Total revenues $ 730 $ 2,498 $ 1,424 $ 2,654
Operating expenses:        
Research and development 54,196 39,687 106,810 71,348
General and administrative 10,391 9,128 21,211 18,231
Total operating expenses 64,587 48,815 128,021 89,579
Operating loss (63,857) (46,317) (126,597) (86,925)
Investment and other income, net 7,257 10,475 16,201 18,275
Net loss $ (56,600) $ (35,842) $ (110,396) $ (68,650)
Basic net loss per common share (in dollars per share) $ (0.85) $ (0.54) $ (1.66) $ (1.1)
Diluted net loss per common share (in dollars per share) $ (0.85) $ (0.54) $ (1.66) $ (1.1)
Shares used in calculating basic net loss per share (in shares) 66,392 66,019 66,388 62,445
Shares used in calculating diluted net loss per share (in shares) 66,392 66,019 66,388 62,445
Comprehensive loss:        
Net loss $ (56,600) $ (35,842) $ (110,396) $ (68,650)
Other comprehensive (loss) income:        
Unrealized (loss) gain on marketable securities (229) (464) 25 (1,528)
Comprehensive loss (56,829) (36,306) (110,371) (70,178)
Product development and licensing agreements        
Revenues:        
Total revenues 7   57 2
Contracts and grants        
Revenues:        
Total revenues $ 723 $ 2,498 $ 1,367 $ 2,652