Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
|
| Income Statement [Abstract] | ||||
| Collaboration revenue | $ 143,623 | $ 1,254 | $ 144,122 | $ 1,751 |
| Operating expenses: | ||||
| Research and development | 5,863 | 41,962 | 28,200 | 85,777 |
| General and administrative | 9,581 | 10,649 | 20,630 | 21,187 |
| Impairment and disposal of long-lived assets | 31,917 | 0 | 53,806 | 0 |
| Total operating expenses | 47,361 | 52,611 | 102,636 | 106,964 |
| Income (loss) from operations | 96,262 | (51,357) | 41,486 | (105,213) |
| Other income: | ||||
| Interest income | 1,322 | 3,455 | 3,206 | 7,495 |
| Total other income | 1,322 | 3,455 | 3,206 | 7,495 |
| Net income (loss) | $ 97,584 | $ (47,902) | $ 44,692 | $ (97,718) |
| Earnings (loss) per share | ||||
| Basic | $ 1.59 | $ (0.79) | $ 0.73 | $ (1.62) |
| Diluted | $ 1.58 | $ (0.79) | $ 0.72 | $ (1.62) |
| Weighted-average common shares outstanding, basic | 61,462,957 | 60,434,161 | 61,313,689 | 60,274,285 |
| Weighted-average common shares outstanding, diluted | 61,751,283 | 60,434,161 | 61,816,099 | 60,274,285 |
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of interest income (expense) classified as nonoperating. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of expense for research and development. Includes, but is not limited to, cost for computer software product to be sold, leased, or otherwise marketed and writeoff of research and development assets acquired in transaction other than business combination or joint venture formation or both. Excludes write-down of intangible asset acquired in business combination or from joint venture formation or both, used in research and development activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of revenue from collaborative arrangement. Excludes revenue from contract with customer under Topic 606. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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