v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Statement [Abstract]        
Collaboration revenue $ 6,314 $ 10,130 $ 13,538 $ 18,948
Operating expenses:        
Research and development [1] 64,330 59,735 122,142 106,560
General and administrative [2] 13,598 10,545 27,122 20,692
Total operating expenses 77,928 70,280 149,264 127,252
Loss from operations (71,614) (60,150) (135,726) (108,304)
Other income (expense), net        
Change in fair value of convertible preferred stock warrant liability 0 0 (363) 0
Interest expense (155) (307) (337) (675)
Interest income 4,629 3,789 7,542 8,070
Foreign currency exchange loss (62) (30) (4) (47)
Total other income (expense), net 4,412 3,452 6,838 7,348
Loss before provision for income taxes (67,202) (56,698) (128,888) (100,956)
Provision for income taxes (53) (44) (81) (100)
Net loss (67,255) (56,742) (128,969) (101,056)
Net loss attributable to non-controlling interests 0 (4,313) (268) (6,942)
Net loss attributable to Generate Biomedicines, Inc. stockholders (67,255) (52,429) (128,701) (94,114)
Convertible preferred stock accrued dividends 0 (11,593) (7,749) (23,185)
Net loss attributable to Generate Biomedicines, Inc. common stockholders $ (67,255) $ (64,022) $ (136,450) $ (117,299)
Net loss per share, basic $ (0.52) $ (1.94) $ (1.41) $ (3.57)
Net loss per share, diluted $ (0.52) $ (1.94) $ (1.41) $ (3.57)
Weighted average common shares outstanding, basic 128,240,371 32,996,506 96,730,886 32,894,770
Weighted average common shares outstanding, diluted 128,240,371 32,996,506 96,730,886 32,894,770
Other comprehensive loss:        
Net loss $ (67,255) $ (56,742) $ (128,969) $ (101,056)
Unrealized loss on marketable securities (153) (57) (235) (128)
Comprehensive loss (67,408) (56,799) (129,204) (101,184)
Comprehensive loss attributable to non-controlling interest 0 (4,313) (268) (6,942)
Comprehensive loss attributable to Generate Biomedicines, Inc. stockholders $ (67,408) $ (52,486) $ (128,936) $ (94,242)
[1] Includes related party amounts of $0.1 million for the six months ended June 30, 2026, and $0.1 million and $0.3 million for the three and six months ended June 30, 2025. See Note 14 for details of related party amounts.
[2] Includes related party amounts of $0.1 million and $0.2 million for the three and six months ended June 30, 2026, and $0.1 million and $0.3 million for the three and six months ended June 30, 2025. See Note 14 for details of related party amounts.