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Consolidated Statements of Operations and Comprehensive Loss - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Consolidated Statements of Operations      
Revenue $ 262.6 $ 263.4 $ 78.5
Operating expenses:      
Research and development 285.2 348.2 379.7
General and administrative 95.9 165.4 100.3
Total operating expenses 381.1 513.6 480.0
Loss from operations (118.5) (250.2) (401.5)
Other income (expense)      
Other expense, net (0.4) (2.9) (1.2)
Interest income, net 38.4 54.8 38.8
Total other income 38.0 51.9 37.6
Net loss before income taxes and loss from equity method investment (80.5) (198.3) (363.9)
Income tax expense (0.3) (0.6) (0.9)
Loss from equity method investment 0.0 0.0 (2.5)
Net loss $ (80.8) $ (198.9) $ (367.3)
Net loss per common share      
Net loss per common share - basic (in dollars per share) $ (1.14) $ (2.77) $ (6.62)
Net loss per common share - diluted (in dollars per share) $ (1.14) $ (2.77) $ (6.62)
Weighted-average common shares outstanding      
Weighted-average common shares outstanding - basic (in shares) 70.9 71.9 55.5
Weighted-average common shares outstanding - diluted (in shares) 70.9 71.9 55.5
Consolidated Statements of Comprehensive Loss      
Net loss $ (80.8) $ (198.9) $ (367.3)
Other comprehensive loss:      
Unrealized gain on available-for-sale securities 0.2 4.1 16.1
Comprehensive loss $ (80.6) $ (194.8) $ (351.2)