v3.26.1
Condensed Consolidated Statements of Stockholders' Deficit - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Accumulated Deficit
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2024   208,543,000      
Beginning balance at Dec. 31, 2024 $ (475,934) $ 2,085 $ 1,291,100 $ 921 $ (1,770,040)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income 32       32
Other comprehensive (loss) income 211     211  
Exercise of stock options, net (in shares)   286,000      
Exercise of stock options 1,229 $ 3 1,226    
Vesting of restricted stock units (in shares)   184,000      
Vesting of restricted stock units 0 $ 2 (2)    
Shares withheld for taxes for vesting of restricted stock units (in shares)   (8,000)      
Shares withheld for taxes for vesting of restricted stock units (56)   (56)    
Employee stock purchase plan sales (in shares)   202,000      
Employee stock purchase plan sales 1,217 $ 2 1,215    
Issuance of shares to directors in lieu of cash retainer (in shares)   1,000      
Issuance of shares to directors in lieu of cash retainer 6   6    
Stock-based compensation expense 21,368   21,368    
Common stock, shares outstanding, ending balance (in shares) at Mar. 31, 2025   209,208,000      
Ending balance at Mar. 31, 2025 (451,927) $ 2,092 1,314,857 1,132 (1,770,008)
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2024   208,543,000      
Beginning balance at Dec. 31, 2024 (475,934) $ 2,085 1,291,100 921 (1,770,040)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income 5,117        
Other comprehensive (loss) income 725        
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2025   209,905,000      
Ending balance at Jun. 30, 2025 (421,594) $ 2,099 1,339,584 1,646 (1,764,923)
Common stock, shares outstanding, beginning balance (in shares) at Mar. 31, 2025   209,208,000      
Beginning balance at Mar. 31, 2025 (451,927) $ 2,092 1,314,857 1,132 (1,770,008)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income 5,085       5,085
Other comprehensive (loss) income 514     514  
Exercise of stock options, net (in shares)   560,000      
Exercise of stock options 3,421 $ 6 3,415    
Vesting of restricted stock units (in shares)   136,000      
Vesting of restricted stock units 0 $ 1 (1)    
Issuance of shares to directors in lieu of cash retainer (in shares)   1,000      
Issuance of shares to directors in lieu of cash retainer 9   9    
Stock-based compensation expense 21,304   21,304    
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2025   209,905,000      
Ending balance at Jun. 30, 2025 $ (421,594) $ 2,099 1,339,584 1,646 (1,764,923)
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2025 213,060,000 213,060,000      
Beginning balance at Dec. 31, 2025 $ (119,153) $ 2,131 1,384,857 38 (1,506,179)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (721,812)       (721,812)
Other comprehensive (loss) income (406)     (406)  
Exercise of stock options, net (in shares)   3,279,000      
Exercise of stock options 18,366 $ 33 18,333    
Vesting of restricted stock units (in shares)   190,000      
Vesting of restricted stock units 0 $ 2 (2)    
Employee stock purchase plan sales (in shares)   199,000      
Employee stock purchase plan sales 1,113 $ 1 1,112    
Issuance of shares to directors in lieu of cash retainer (in shares)   4,000      
Issuance of shares to directors in lieu of cash retainer 33   33    
Stock-based compensation expense 16,027   16,027    
Remeasurement of share-based liability (637)   (637)    
Settlement of share-based liability 971   971    
Issuance of common stock for the acquisition of Astria Therapeutics, Inc. (in shares)   37,282,000      
Issuance of common stock for the acquisition of Astria Therapeutics, Inc. 251,655 $ 373 251,282    
Common stock, shares outstanding, ending balance (in shares) at Mar. 31, 2026   254,014,000      
Ending balance at Mar. 31, 2026 $ (553,843) $ 2,540 1,671,976 (368) (2,227,991)
Common stock, shares outstanding, beginning balance (in shares) at Dec. 31, 2025 213,060,000 213,060,000      
Beginning balance at Dec. 31, 2025 $ (119,153) $ 2,131 1,384,857 38 (1,506,179)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income (643,417)        
Other comprehensive (loss) income $ (566)        
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2026 255,265,000 255,265,000      
Ending balance at Jun. 30, 2026 $ (454,289) $ 2,553 1,693,282 (528) (2,149,596)
Common stock, shares outstanding, beginning balance (in shares) at Mar. 31, 2026   254,014,000      
Beginning balance at Mar. 31, 2026 (553,843) $ 2,540 1,671,976 (368) (2,227,991)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net (loss) income 78,395       78,395
Other comprehensive (loss) income (160)     (160)  
Exercise of stock options, net (in shares)   1,042,000      
Exercise of stock options 6,212 $ 11 6,201    
Vesting of restricted stock units (in shares)   205,000      
Vesting of restricted stock units 0 $ 2 (2)    
Shares withheld for taxes for vesting of restricted stock units (in shares)   (1,000)      
Shares withheld for taxes for vesting of restricted stock units (9)   (9)    
Issuance of shares to directors in lieu of cash retainer (in shares)   5,000      
Issuance of shares to directors in lieu of cash retainer 44   44    
Stock-based compensation expense 14,692   14,692    
Remeasurement of share-based liability (43)   (43)    
Settlement of share-based liability $ 423   423    
Common stock, shares outstanding, ending balance (in shares) at Jun. 30, 2026 255,265,000 255,265,000      
Ending balance at Jun. 30, 2026 $ (454,289) $ 2,553 $ 1,693,282 $ (528) $ (2,149,596)