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Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Total revenue $ 31,687 $ 4,833 $ 114,915 $ 7,917
Costs and expenses:        
Cost of sales 911 172 1,286 172
Cost of collaboration and license agreements revenue 8,560 2,404 14,176 4,498
Research and development 30,661 27,362 65,708 51,963
Selling, general and administrative 42,591 38,484 80,900 73,877
Total costs and expenses 82,723 68,422 162,070 130,510
Loss from operations (51,036) (63,589) (47,155) (122,593)
Other income (expense):        
Interest income 4,596 4,780 9,704 10,101
Interest expense (6,759) (421) (13,467) (475)
Investment advisory fees (184) (182) (379) (385)
Loss on debt extinguishment (9,472) 0 (9,472) 0
Change in fair value of warrant liability 0 454 2,865 (297)
Realized gain (loss) on marketable securities 9 (1) 17 2
Net gain (loss) on disposal of fixed assets 1 (34) 1 (34)
Other income 5 (14) 443 1,438
Total other (expense) income, net (11,804) 4,582 (10,288) 10,350
Income (loss) before income taxes (62,840) (59,007) (57,443) (112,243)
Provision for income taxes 0 0 0 0
Net loss $ (62,840) $ (59,007) $ (57,443) $ (112,243)
Basic earnings (loss) per share attributable to common stockholders $ (0.18) $ (0.17) $ (0.17) $ (0.33)
Diluted earnings (loss) per share attributable to common stockholders $ (0.18) $ (0.17) $ (0.17) $ (0.33)
Basic weighted average common shares outstanding 348,770 340,746 348,055 339,685
Diluted weighted average common shares outstanding 348,770 340,746 348,055 339,685
Comprehensive loss:        
Net loss $ (62,840) $ (59,007) $ (57,443) $ (112,243)
Other comprehensive loss, net of taxes:        
Currency translation adjustment (471) (646) (739) (182)
Change in unrealized loss on available-for-sale securities (463) (225) (1,685) (718)
Comprehensive loss (63,774) (59,878) (59,867) (113,143)
Product [Member]        
Revenue:        
Total revenue 23,192 1,238 41,702 1,238
License [Member]        
Revenue:        
Total revenue $ 8,495 $ 3,595 $ 73,213 $ 6,679