Condensed Statements of Operations and Comprehensive Income (Loss) - 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 | $ 31,575 | $ 37,480 | $ 121,774 | $ 107,795 |
| General and administrative | 14,568 | 9,378 | 40,427 | 27,632 |
| Total operating expenses | 46,143 | 46,858 | 162,201 | 135,427 |
| Loss from operations | (46,143) | (46,858) | (162,201) | (135,427) |
| Other income | ||||
| Interest income | 16,496 | 6,192 | 26,214 | 17,848 |
| Other income | 3,065 | 3,065 | ||
| Gain on the Sevasemten Sale | 1,348,066 | 1,348,066 | ||
| Total other income | 1,367,627 | 6,192 | 1,377,345 | 17,848 |
| Income (loss) before income tax expense | 1,321,484 | (40,666) | 1,215,144 | (117,579) |
| Income tax expense | 155,333 | 155,333 | ||
| Net income (loss) | 1,166,151 | (40,666) | 1,059,811 | (117,579) |
| Other comprehensive income (loss): | ||||
| Unrealized (loss) gain on available-for-sale securities, net | (5,102) | 497 | (6,279) | 281 |
| Total comprehensive income (loss) | $ 1,161,049 | $ (40,169) | $ 1,053,532 | $ (117,298) |
| Basic earnings (loss) per share (in dollars per share) | $ 10.71 | $ (0.39) | $ 9.82 | $ (1.15) |
| Diluted earnings (loss) per share (in dollars per share) | $ 9.65 | $ (0.39) | $ 8.86 | $ (1.15) |
| Weighted-average shares outstanding used in basic earnings (loss) per share (in shares) | 108,870,331 | 105,492,779 | 107,892,028 | 101,892,400 |
| Weighted-average shares outstanding used in diluted earnings (loss) per share (in shares) | 120,874,085 | 105,492,779 | 119,643,866 | 101,892,400 |
| X | ||||||||||
- 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 Amount before tax of gain (loss) recognized on the sale or disposal of a disposal group. Excludes discontinued operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of interest income earned from interest bearing assets classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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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/disclosureRef
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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://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount, after tax and adjustment, of unrealized gain (loss) on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale) and 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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- References No definition available.
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- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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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/disclosureRef
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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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| X | ||||||||||
- 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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