v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Total revenue $ 1,662 $ 2,666 $ 3,403 $ 20,055
Operating expenses:        
Research and development expenses, including related party expenses of $399, $259, $465 and $521 for the three and six months ended June 30, 2026 and 2025, respectively 85,337 108,755 166,877 205,377
General and administrative expenses 23,356 34,450 41,966 56,745
Intangible assets impairment loss 41,824   41,824  
Total operating expenses 150,517 143,205 250,667 262,122
Loss from operations (148,855) (140,539) (247,264) (242,067)
Other income (expense):        
Gain on bargain purchase   187,907   187,907
Interest income 4,948 3,430 10,297 6,039
Other income (expenses), net (71) (38) (64) (82)
Total other income (expense), net 4,877 191,299 10,233 193,864
Net income (loss) before income taxes (143,978) 50,760 (237,031) (48,203)
Income tax benefit 1,757 8,561 1,757 8,561
Net income (loss) (142,221) 59,321 (235,274) (39,642)
Other comprehensive income (loss):        
Unrealized gain (loss) on marketable securities, net (216) 30 (871) (18)
Total comprehensive income (loss) $ (142,437) $ 59,351 $ (236,145) $ (39,660)
Net income (loss) per share attributable to common stockholders, basic $ (1.11) $ 0.78 $ (1.86) $ (0.61)
Net income (loss) per share attributable to common stockholders, diluted $ (1.11) $ 0.77 $ (1.86) $ (0.61)
Weighted-average shares of common stock outstanding, basic 127,690,254 76,477,144 126,377,692 65,440,021
Weighted-average shares of common stock outstanding, diluted 127,690,254 76,635,895 126,377,692 65,440,021
License        
Revenue:        
Total revenue       $ 17,389
Collaboration        
Revenue:        
Total revenue $ 1,662 $ 2,666 $ 3,403 $ 2,666