v3.26.3
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Revenues:        
Total revenues $ 9 $ 26 $ 67 $ 214
Operating expenses:        
Research and development (Includes $1, $13, $2 and $19 from a related party) 117 141 352 402
General and administrative (Includes $—, $3, $— and $5 from a related party) 23 27 76 84
Total operating expenses 140 168 428 486
Loss from operations (131) (142) (361) (272)
Non-operating income (expense):        
Interest and other income, net 6 10 23 31
Interest expense (3) (3) (9) (6)
Total non-operating income, net 3 7 14 25
Loss before income taxes (128) (135) (347) (247)
Income tax expense 0 0 0 0
Net loss $ (128) $ (135) $ (347) $ (247)
Net loss per share, basic (in dollars per share) $ (1.00) $ (1.27) $ (2.74) $ (2.39)
Net loss per share, diluted (in dollars per share) $ (1.00) $ (1.27) $ (2.74) $ (2.39)
Shares used to compute net loss per share, basic (in shares) 127.4 106.5 126.3 103.7
Shares used to compute net loss per share, diluted (in shares) 127.4 106.5 126.3 103.7
License and development services        
Revenues:        
Total revenues $ 8 $ 20 $ 36 $ 192
Other collaboration        
Revenues:        
Total revenues $ 1 $ 6 $ 31 $ 22