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 |
|
| Revenues: | ||||
| Total revenues | $ 238,946 | $ 1,214 | $ 238,917 | $ 4,246 |
| Operating expenses: | ||||
| Cost of revenue | 0 | 11 | 0 | 11 |
| Research and development | 135,283 | 97,509 | 244,205 | 216,154 |
| Selling, general and administrative | 30,196 | 22,283 | 53,535 | 46,227 |
| Restructuring, long-lived assets impairment and related charges, net | 0 | (172) | 0 | (182) |
| Total operating expenses | 165,479 | 119,631 | 297,740 | 262,210 |
| Income (loss) from operations | 73,467 | (118,417) | (58,823) | (257,964) |
| Other income: | ||||
| Change in fair value of equity investments | (1,723) | (3,382) | (1,893) | 3,000 |
| Interest income | 8,966 | 10,785 | 16,155 | 23,073 |
| Other (expense) income, net | (451) | 226 | (705) | 154 |
| Total other income | 6,792 | 7,629 | 13,557 | 26,227 |
| Income (loss) before provision for income taxes | 80,259 | (110,788) | (45,266) | (231,737) |
| Provision for income taxes | (179) | (170) | (349) | (186) |
| Net income (loss) | $ 80,080 | $ (110,958) | $ (45,615) | $ (231,923) |
| Net income (loss) per share, basic (in USD per share) | $ 0.48 | $ (0.80) | $ (0.29) | $ (1.68) |
| Net income (loss) per share, diluted (in USD per share) | $ 0.47 | $ (0.80) | $ (0.29) | $ (1.68) |
| Weighted-average shares outstanding, basic (in shares) | 167,719,015 | 138,447,469 | 157,613,578 | 137,960,888 |
| Weighted-average shares outstanding, diluted (in shares) | 168,879,127 | 138,447,469 | 157,613,578 | 137,960,888 |
| License and collaboration revenue | ||||
| Revenues: | ||||
| Total revenues | $ 238,935 | $ (495) | $ 238,894 | $ (565) |
| Grant revenue | ||||
| Revenues: | ||||
| Total revenues | 11 | 183 | 23 | 1,421 |
| Other revenue | ||||
| Revenues: | ||||
| Total revenues | $ 0 | $ 1,526 | $ 0 | $ 3,390 |
| X | ||||||||||
- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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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 unrealized gain (loss) on investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). 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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- 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 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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- 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, after cash payment, of expenses associated with exit or disposal activities pursuant to an authorized plan and expenses resulting from the write-down of assets. Excludes expenses related to a business combination, a discontinued operation or an asset retirement obligation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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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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- References No definition available.
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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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- 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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