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Condensed Consolidated Statements of Operations (unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue        
Total revenue $ 5,175 $ 26,082 $ 39,143 $ 54,293
Operating costs and expenses        
Cost of revenue 14,687 12,079 56,678 32,444
Research and development 121,062 74,600 379,331 216,087
General and administrative 41,628 37,757 142,932 100,998
Total operating costs and expenses 177,377 124,436 578,941 349,529
Loss from operations (172,202) (98,354) (539,798) (295,236)
Other income, net 9,952 2,679 3,005 9,347
Loss before income tax benefit (162,250) (95,675) (536,793) (285,889)
Income tax benefit (expense) (3) (167) 156 1,134
Net loss $ (162,253) $ (95,842) $ (536,637) $ (284,755)
Per share data        
Net loss per share of class A, B and Exchangeable common stock, basic (in dollars per share) $ (0.36) $ (0.34) $ (1.27) $ (1.12)
Net loss per share of class A, B and Exchangeable common stock, diluted (in dollars per share) $ (0.36) $ (0.34) $ (1.27) $ (1.12)
Weighted-average shares (Class A, B and Exchangeable) outstanding, basic (in shares) 446,988,046 282,583,048 422,642,653 253,447,099
Weighted-average shares (Class A, B and Exchangeable) outstanding, diluted (in shares) 446,988,046 282,583,048 422,642,653 253,447,099
Operating revenue        
Revenue        
Total revenue $ 4,983 $ 26,082 $ 38,905 $ 53,977
Grant revenue        
Revenue        
Total revenue $ 192 $ 0 $ 238 $ 316