Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Operating expenses: | ||||
| Research and development | $ 70,811 | $ 62,203 | $ 146,176 | $ 125,232 |
| General and administrative | 31,827 | 13,379 | 60,069 | 25,283 |
| Total operating expenses | 102,638 | 75,582 | 206,245 | 150,515 |
| Loss from operations | (102,638) | (75,582) | (206,245) | (150,515) |
| Other income: | ||||
| Interest income | 7,461 | 2,373 | 15,069 | 5,325 |
| Interest expense | (1,217) | (314) | (2,430) | (314) |
| Other income (expense), net | (11) | (6) | (151) | (11) |
| Total other income, net | 6,233 | 2,053 | 12,488 | 5,000 |
| Net loss | $ (96,405) | $ (73,529) | $ (193,757) | $ (145,515) |
| Net loss per share, basic | $ (0.52) | $ (0.53) | $ (1.05) | $ (1.05) |
| Net loss per share, diluted | $ (0.52) | $ (0.53) | $ (1.05) | $ (1.05) |
| Weighted average common stock outstanding, basic | 171,005,468 | 114,466,080 | 166,624,462 | 114,463,810 |
| Weighted average common stock outstanding, diluted | 171,005,468 | 114,466,080 | 166,624,462 | 114,463,810 |
| Comprehensive loss: | ||||
| Net loss | $ (96,405) | $ (73,529) | $ (193,757) | $ (145,515) |
| Other comprehensive income (loss) | ||||
| Net unrealized gains (losses) on marketable securities | (355) | (151) | (1,125) | (434) |
| Total other comprehensive income (loss) | (355) | (151) | (1,125) | (434) |
| Comprehensive loss | $ (96,760) | $ (73,680) | $ (194,882) | $ (145,949) |
| Series A Non-Voting Convertible Preferred Stock [Member] | ||||
| Other income: | ||||
| Net loss per share, basic | $ (130) | $ (132.95) | $ (262.58) | $ (263.08) |
| Net loss per share, diluted | $ (130) | $ (132.95) | $ (262.58) | $ (263.08) |
| Weighted average common stock outstanding, basic | 39,414 | 67,686 | 53,337 | 67,788 |
| Weighted average common stock outstanding, diluted | 39,414 | 67,686 | 53,337 | 67,788 |
| Series B Non Voting Convertible Preferred Stock [Member] | ||||
| Other income: | ||||
| Net loss per share, basic | $ (520.15) | $ (531.89) | $ (1,050.27) | $ (1,052.27) |
| Net loss per share, diluted | $ (520.15) | $ (531.89) | $ (1,050.27) | $ (1,052.27) |
| Weighted average common stock outstanding, basic | 4,516 | 6,868 | 4,516 | 6,868 |
| Weighted average common stock outstanding, diluted | 4,516 | 6,868 | 4,516 | 6,868 |
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- 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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- 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 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 interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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/exampleRef
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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://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- 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/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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