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Subsequent events
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent events

18. Subsequent events

In January 2025, the transaction contemplated by the Novartis Agreement closed, upon which the Company received an upfront payment of $1.0 billion. The Company may also be entitled to receive up to $1.9 billion in development, regulatory and sales milestones and tiered double-digit royalties on ex-U.S. sales. The Company will also share U.S. profits and losses, with 40% share to the Company and 60% share to Novartis. Pursuant to the Novartis Agreement, the Company will continue to conduct the ongoing Phase 2A Clinical Trial and the ongoing OLE Clinical Trial pursuant to its existing development plan, with the goal of transitioning the ongoing OLE Clinical Trial to Novartis within 12 months after the effective date of the Novartis Agreement. Novartis will be responsible for all other development of licensed compounds and licensed products and the manufacture and commercialization of licensed compounds and licensed products worldwide.