v3.26.1
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenue:    
Grant revenue $ 358 $ 0
Total revenue $ 358 $ 0
Revenue from Contract with Customer, Product and Service [Extensible Enumeration] us-gaap:GrantMember us-gaap:GrantMember
Operating expenses:    
Research and development expenses $ 13,195 $ 11,821
General and administrative expenses 8,070 11,888
Manufacturing services 0 3,527
Total operating expenses 21,265 27,236
Loss from operations (20,907) (27,236)
Other income (expense):    
Gain on sale of VOWST Business 0 52,181
Interest income 325 618
Other income (expense) [1] 669 7,119
Total other income (expense), net 994 59,918
Net (loss) income $ (19,913) $ 32,682
Net (loss) income per share attributable to common stockholders - basic $ (2.08) $ 3.76
Net (loss) income per share attributable to common stockholders - diluted $ (2.08) $ 3.75
Weighted average common shares outstanding - basic 9,582,533 8,703,221
Weighted average common shares outstanding - diluted 9,582,533 8,714,701
[1] Includes $0 and $6,309 for the three months ended March 31, 2026 and 2025 related to reimbursement received from SPN (related party) for transition services provided by the Company.