v3.25.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue:        
License and collaboration revenue $ 0 $ 35,000 $ 0 $ 35,000
Total revenue 0 35,000 0 35,000
Operating expenses:        
Research and development expenses 57,275 36,709 86,314 71,238
General and administrative expenses 10,181 12,457 21,162 25,160
Restructuring costs 16,335 0 16,335 0
Total operating expenses 83,791 49,166 123,811 96,398
Loss from operations (83,791) (14,166) (123,811) (61,398)
Other income and expenses:        
Grant income 183 522 591 1,472
Research and development tax credits 752 893 1,245 1,696
Interest income 6,382 7,817 13,333 15,203
Other (expense) income, net (585) 67 (1,927) 2,158
Loss before income taxes (77,059) (4,867) (110,569) (40,869)
Income tax expense (1,670) (2,261) (2,772) (4,475)
Net loss $ (78,729) $ (7,128) $ (113,341) $ (45,344)
Basic net loss per common share $ (1.81) $ (0.18) $ (2.61) $ (1.2)
Diluted net loss per common share $ (1.81) $ (0.18) $ (2.61) $ (1.2)
Weighted-average common shares outstanding - basic 43,564,573 39,699,053 43,403,850 37,771,084
Weighted-average common shares outstanding - diluted 43,564,573 39,699,053 43,403,850 37,771,084
Net Income (Loss) $ (78,729) $ (7,128) $ (113,341) $ (45,344)
Foreign currency translation adjustments (1,217) (151) (370) (2,416)
Unrealized gain (loss) on available-for-sale securities (50) (72) 180 (906)
Comprehensive loss $ (79,996) $ (7,351) $ (113,531) $ (48,666)