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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating expenses    
Research and development $ (36,459,000) $ (13,014,000)
General and administrative (11,026,000) (6,806,000)
Total operating expenses (47,485,000) (19,820,000)
Operating loss (47,485,000) (19,820,000)
Interest expense (18,000) 0
Other income, net 7,097,000 5,915,000
Loss before income tax (40,406,000) (13,905,000)
Income tax expense (153,000) (70,000)
Net loss (40,559,000) (13,975,000)
Of which: net loss attributable to controlling interests shareholders (39,944,000) (13,673,000)
Of which: net loss attributable to noncontrolling interests shareholders (615,000) (302,000)
Net unrealized gain (loss) on marketable securities and short-term investments (2,756,000) 182,000
Actuarial income on employee benefit plans 95,000 81,000
Other comprehensive income (loss) (2,661,000) 263,000
Comprehensive loss (43,220,000) (13,712,000)
Comprehensive loss attributable to controlling interests shareholders (42,564,000) (13,416,000)
Comprehensive loss attributable to noncontrolling interests $ (656,000) $ (296,000)
Weighted-average number of Class A Ordinary Shares, basic (in shares) 63,233,788 62,637,212
Weighted-average number of Class A Ordinary Shares, diluted (in shares) 63,233,788 62,637,212
Basic net loss per share attributable to controlling interest shareholders (USD per share) $ (0.63) $ (0.22)
Diluted net loss per share attributable to controlling interest shareholders (USD per share) $ (0.63) $ (0.22)
Common Class A    
Operating expenses    
Weighted-average number of Class A Ordinary Shares, basic (in shares) 63,233,788 62,637,212
Weighted-average number of Class A Ordinary Shares, diluted (in shares) 63,233,788 62,637,212
Basic net loss per share attributable to controlling interest shareholders (USD per share) $ (0.63) $ (0.22)
Diluted net loss per share attributable to controlling interest shareholders (USD per share) $ (0.63) $ (0.22)