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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Operating expenses        
Research and development $ (35,735,514) $ (7,585,136) $ (72,411,709) $ (23,704,087)
General and administrative (7,376,495) (5,391,607) (21,099,001) (15,390,117)
Total operating expenses (43,112,009) (12,976,743) (93,510,710) (39,094,204)
Operating loss (43,112,009) (12,976,743) (93,510,710) (39,094,204)
Other income, net 7,089,691 1,386,313 18,903,070 2,952,557
Loss before income tax (36,022,318) (11,590,430) (74,607,640) (36,141,647)
Income tax expense (92,106) (28,923) (241,059) (50,080)
Net loss (36,114,424) (11,619,353) (74,848,699) (36,191,727)
Of which: net loss attributable to controlling interests shareholders (35,390,337) (9,426,049) (73,331,005) (28,570,184)
Of which: net loss attributable to noncontrolling interests shareholders (724,087) (2,193,304) (1,517,694) (7,621,543)
Net unrealized gain (loss) on marketable securities and short term investments (325,510) 3,437,291 508,860 3,046,538
Actuarial gain (loss) on employee benefit plans (115,629) 39,157 (110,878) (19,323)
Other comprehensive income (loss) (441,139) 3,476,448 397,982 3,027,215
Comprehensive loss (36,555,563) (8,142,905) (74,450,717) (33,164,512)
Comprehensive loss attributable to controlling interests shareholders (35,822,526) (6,590,259) (72,941,435) (26,095,926)
Comprehensive loss attributable to noncontrolling interests $ (733,037) $ (1,552,646) $ (1,509,282) $ (7,068,586)
Weighted-average number of shares, basic (in shares) 62,896,782 53,517,655 62,803,220 45,485,650
Weighted-average number of shares, diluted (in shares) 62,896,782 53,517,655 62,803,220 45,485,650
Basic net loss per share attributable to controlling interest shareholders (USD per share) $ (0.56) $ (0.18) $ (1.17) $ (0.63)
Diluted net loss per share attributable to controlling interest shareholders (USD per share) $ (0.56) $ (0.18) $ (1.17) $ (0.63)
Common Class A        
Operating expenses        
Weighted-average number of shares, basic (in shares) 62,896,782 53,517,655 62,803,220 45,485,650
Weighted-average number of shares, diluted (in shares) 62,896,782 53,517,655 62,803,220 45,485,650
Basic net loss per share attributable to controlling interest shareholders (USD per share) $ (0.56) $ (0.18) $ (1.17) $ (0.63)
Diluted net loss per share attributable to controlling interest shareholders (USD per share) $ (0.56) $ (0.18) $ (1.17) $ (0.63)