Condensed consolidated statements of operations and comprehensive (loss) income - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Income Statement [Abstract] | ||||
| Revenue | $ 9,325,000 | $ 13,817,000 | $ 15,554,000 | $ 172,386,000 |
| Operating expenses: | ||||
| Research and development | 49,501,000 | 25,855,000 | 89,174,000 | 58,531,000 |
| Sales, general and administrative | 25,253,000 | 15,262,000 | 45,227,000 | 29,915,000 |
| Total operating expenses | 74,754,000 | 41,117,000 | 134,401,000 | 88,446,000 |
| (Loss) income from operations | (65,429,000) | (27,300,000) | (118,847,000) | 83,940,000 |
| Other income (expense): | ||||
| Interest income (expense), net | 3,503,000 | 3,789,000 | 6,899,000 | 6,678,000 |
| Other income | 308,000 | 28,000 | 327,000 | 57,000 |
| Total other income (expense) | 3,811,000 | 3,817,000 | 7,226,000 | 6,735,000 |
| (Loss) income before income taxes | (61,618,000) | (23,483,000) | (111,621,000) | 90,675,000 |
| Provision for income taxes | 0 | 0 | 0 | 1,278,000 |
| Net (loss) income | $ (61,618,000) | $ (23,483,000) | $ (111,621,000) | $ 89,397,000 |
| Net (loss) income per share: | ||||
| Basic | $ (0.93) | $ (0.4) | $ (1.73) | $ 1.54 |
| Diluted | $ (0.93) | $ (0.4) | $ (1.73) | $ 1.5 |
| Weighted-average common shares outstanding: | ||||
| Basic | 66,017,895 | 58,353,855 | 64,548,862 | 58,109,622 |
| Diluted | 66,017,895 | 58,353,855 | 64,548,862 | 59,681,472 |
| Comprehensive (loss) income: | ||||
| Net (loss) income | $ (61,618,000) | $ (23,483,000) | $ (111,621,000) | $ 89,397,000 |
| Other comprehensive (loss) gain: | ||||
| Unrealized (loss) gain on marketable securities | (427,000) | 200,000 | (1,085,000) | 247,000 |
| Total other comprehensive (loss) gain | (427,000) | 200,000 | (1,085,000) | 247,000 |
| Comprehensive (loss) income | $ (62,045,000) | $ (23,283,000) | $ (112,706,000) | $ 89,644,000 |
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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 Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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| X | ||||||||||
- 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. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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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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- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount, after tax and before adjustment, of unrealized holding gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). Excludes unrealized gain (loss) on investment in debt security measured at amortized cost (held-to-maturity) from transfer to available-for-sale. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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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- References No definition available.
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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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