v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Operating expenses        
Research and development $ (68,871) $ (60,635) $ (173,607) $ (146,856)
General and administrative (10,981) (10,799) (37,929) (32,760)
Total operating expenses (79,852) (71,434) (211,536) (179,616)
Operating loss (79,852) (71,434) (211,536) (179,616)
Interest expense (2,655) (3,198) (7,556) (5,254)
Other income, net 3,593 4,053 9,378 17,930
Loss before income tax (78,914) (70,579) (209,714) (166,940)
Income tax expense (631) (115) (1,343) (363)
Net loss (79,545) (70,694) (211,057) (167,303)
Of which: net loss attributable to controlling interests shareholders (79,545) (69,729) (211,057) (164,891)
Of which: net loss attributable to noncontrolling interests shareholders 0 (965) 0 (2,412)
Net unrealized gain (loss) on marketable securities and short-term investments 868 (255) 962 (4,920)
Actuarial gain on employee benefit plans 789 8 722 116
Other comprehensive income (loss) 1,657 (247) 1,684 (4,804)
Comprehensive loss (77,888) (70,941) (209,373) (172,107)
Comprehensive loss attributable to controlling interests shareholders (77,888) (69,972) (209,373) (169,622)
Comprehensive loss attributable to noncontrolling interests $ 0 $ (969) $ 0 $ (2,485)
Weighted-average number of Class A Ordinary Shares, basic (in shares) 85,380,482 63,369,984 76,908,149 63,295,999
Weighted-average number of Class A Ordinary Shares, diluted (in shares) 85,380,482 63,369,984 76,908,149 63,295,999
Basic net loss per share attributable to controlling interest shareholders (USD per share) $ (0.93) $ (1.10) $ (2.74) $ (2.61)
Diluted net loss per share attributable to controlling interest shareholders (USD per share) $ (0.93) $ (1.10) $ (2.74) $ (2.61)
Common Class A        
Operating expenses        
Weighted-average number of Class A Ordinary Shares, basic (in shares) 85,380,482 63,369,984 76,908,149 63,295,999
Weighted-average number of Class A Ordinary Shares, diluted (in shares) 85,380,482 63,369,984 76,908,149 63,295,999
Basic net loss per share attributable to controlling interest shareholders (USD per share) $ (0.93) $ (1.10) $ (2.74) $ (2.61)
Diluted net loss per share attributable to controlling interest shareholders (USD per share) $ (0.93) $ (1.10) $ (2.74) $ (2.61)