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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating expenses:        
Research and development $ 60,551 $ 29,611 $ 148,351 $ 77,658
General and administrative 15,780 9,172 45,718 25,397
Total operating expenses 76,331 38,783 194,069 103,055
Loss from operations (76,331) (38,783) (194,069) (103,055)
Other income (expense)        
Change in fair value of related party revenue share liability (16,600) 0 (16,600) 0
Interest income and other income (expense), net 8,626 5,138 25,269 15,128
Total other income (expense), net (7,974) 5,138 8,669 15,128
Loss before income taxes (84,305) (33,645) (185,400) (87,927)
Income tax provision 40 0 593 0
Net loss $ (84,345) $ (33,645) $ (185,993) $ (87,927)
Net loss per share attributable to Class A and Class B common stockholders, basic $ (1.28) $ (0.59) $ (2.87) $ (1.55)
Net loss per share attributable to Class A and Class B common stockholders, diluted $ (1.28) $ (0.59) $ (2.87) $ (1.55)
Weighted average shares of Class A and Class B common stock outstanding, basic 65,678,693 57,091,394 64,814,695 56,888,839
Weighted average shares of Class A and Class B common stock outstanding, diluted 65,678,693 57,091,394 64,814,695 56,888,839
Comprehensive loss:        
Net loss $ (84,345) $ (33,645) $ (185,993) $ (87,927)
Other comprehensive income (loss)        
Unrealized gains (losses) on marketable securities 2,944 227 1,342 (816)
Comprehensive loss $ (81,401) $ (33,418) $ (184,651) $ (88,743)