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Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating expenses:      
Research and development [1] $ 537,674 $ 150,777 $ 59,471
Acquired in-process research and development 0 15,007 520,915
General and administrative 556,750 60,214 29,264
Total operating expenses 1,094,424 225,998 609,650
Other income, net 14,838 13,369 11,183
Interest expense 0 (8,686) (16,461)
Net loss $ (1,079,586) $ (221,315) $ (614,928)
Net loss per share:      
Basic (in dollars per share) $ (1.44) $ (0.31) $ (0.99)
Diluted (in dollars per share) $ (1.44) $ (0.31) $ (0.99)
Weighted average common shares outstanding:      
Basic (in shares) 747,702,265 718,541,896 619,646,180
Diluted (in shares) 747,702,265 718,541,896 619,646,180
Other comprehensive income (loss):      
Foreign currency translation adjustments $ (327) $ 60 $ (172)
Reclassification of unrealized loss on short-term investments to other income, net 0 3 0
Reclassification of cumulative currency translation gain to other income, net 0 0 (419)
Unrealized gain on short-term investments 72 100 36
Comprehensive loss $ (1,079,841) $ (221,152) $ (615,483)
[1] Refer to Note 15 – Related Party Transactions for expenses incurred.