v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - 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 $ 1,950 $ 94,694 $ 22,508 $ 153,814
Operating expenses:        
Research and development 37,877 32,035 69,951 60,643
General and administrative 10,922 9,236 21,196 18,635
Total operating expenses 48,799 41,271 91,147 79,278
(Loss) income from operations (46,849) 53,423 (68,639) 74,536
Other income:        
Interest and other income 3,924 4,366 8,365 8,580
Total other income 3,924 4,366 8,365 8,580
(Loss) income before provision for income taxes (42,925) 57,789 (60,274) 83,116
Provision for income taxes 178 2,758 178 4,589
Net (loss) income $ (43,103) $ 55,031 $ (60,452) $ 78,527
Net (loss) income per share, basic (in dollars per share) $ (1.04) $ 1.61 $ (1.47) $ 2.32
Net (loss) income per share, diluted (in dollars per share) $ (1.04) $ 1.55 $ (1.47) $ 2.23
Weighted-average common shares outstanding, basic (in shares) 41,338,752 34,180,549 41,206,974 33,838,811
Weighted-average common shares outstanding, diluted (in shares) 41,338,752 35,507,029 41,206,974 35,148,221
Other comprehensive (loss) income:        
Unrealized (loss) gain on marketable securities $ (37) $ (83) $ 443 $ (524)
Total other comprehensive (loss) income (37) (83) 443 (524)
Total comprehensive (loss) income $ (43,140) $ 54,948 $ (60,009) $ 78,003