Condensed Consolidated Statements of Operations - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Condensed Consolidated Statements of Operations | ||||
| License and collaboration revenue | $ 213,475 | $ 5,546 | $ 269,843 | $ 33,867 |
| Revenue from Contract with Customer, Product and Service [Extensible Enumeration] | License and Service [Member] | License and Service [Member] | License and Service [Member] | License and Service [Member] |
| Operating expenses: | ||||
| Research and development | $ 42,061 | $ 37,036 | $ 88,800 | $ 72,929 |
| General and administrative | 12,648 | 10,551 | 25,925 | 22,289 |
| Total operating expenses | 54,709 | 47,587 | 114,725 | 95,218 |
| Income (loss) from operations | 158,766 | (42,041) | 155,118 | (61,351) |
| Interest income | 6,429 | 7,406 | 12,305 | 14,979 |
| Other (expense) income, net | (81) | 36 | (28) | 118 |
| Income (loss) before income tax expense | 165,114 | (34,599) | 167,395 | (46,254) |
| Income tax expense | 2,265 | 172 | 763 | 172 |
| Net income (loss) | $ 162,849 | $ (34,771) | $ 166,632 | $ (46,426) |
| Net income (loss) per share, basic (in dollar per share) | $ 2.47 | $ (0.55) | $ 2.54 | $ (0.73) |
| Net income (loss) per share, diluted (in dollar per share) | $ 2.29 | $ (0.55) | $ 2.35 | $ (0.73) |
| Weighted-average shares used to compute net income (loss) per share, basic (in shares) | 65,935,769 | 63,510,537 | 65,514,150 | 63,238,682 |
| Weighted-average shares used to compute net income (loss) per share, diluted (in shares) | 71,007,011 | 63,510,537 | 70,818,718 | 63,238,682 |
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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 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 before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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 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 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, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Indicates product and service for revenue from satisfaction of performance obligation by transferring promised product and service to customer. 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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- 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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