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v3.25.2

Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 7 Months Ended
--- | --- | --- | ---
Jun. 30, 2025 | Mar. 31, 2025 | Jun. 30, 2024 | Mar. 31, 2024 | Jun. 30, 2025 | Jun. 30, 2024 | Jun. 30, 2025
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Collaboration and other research and development revenues | $ 3,578 |  | $ 513 |  | $ 8,236 | $ 1,649 |
Operating expenses: |  |  |  |  |  |  |
Stock-based compensation expenses | 2,664 |  | 5,010 |  | 5,643 | 12,595 |
Total operating expenses | 55,122 |  | 72,416 |  | 135,943 | 140,542 |
Operating loss | (51,544) |  | (71,903) |  | (127,707) | (138,893) |
Other (expense) income, net: |  |  |  |  |  |  |
Other (expense) income, net | (1,758) |  | (1) |  | (2,183) | 5 |
Interest related to sale of future revenues | (2,020) |  | 0 |  | (4,236) | 0 |
Interest income, net | 2,087 |  | 4,297 |  | 4,803 | 9,331 |
Total other (expense) income, net | (1,691) |  | 4,296 |  | (1,616) | 9,336 |
Net loss | (53,235) | $ (76,088) | (67,607) | $ (61,950) | (129,323) | (129,557) |
Restructuring and impairment charges |  |  |  |  |  |  | $ 79,167
Reportable Segment |  |  |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |  |  |
Collaboration and other research and development revenues | 3,578 |  | 513 |  | 8,236 | 1,649 |
Operating expenses: |  |  |  |  |  |  |
Total operating expenses | 55,122 |  | 72,416 |  | 135,943 | 140,542 |
Operating loss | (51,544) |  | (71,903) |  | (127,707) | (138,893) |
Other (expense) income, net: |  |  |  |  |  |  |
Other (expense) income, net | (1,758) |  | (1) |  | (2,183) | 5 |
Interest income, net | 2,087 |  | 4,297 |  | 4,803 | 9,331 |
Total other (expense) income, net | (1,691) |  | 4,296 |  | (1,616) | 9,336 |
Net loss | (53,235) |  | (67,607) |  | (129,323) | (129,557) |
Research and development |  |  |  |  |  |  |
Operating expenses: |  |  |  |  |  |  |
Stock-based compensation expenses | 863 |  | 2,125 |  | 1,770 | 5,033 |
Research and development | Reportable Segment |  |  |  |  |  |  |
Operating expenses: |  |  |  |  |  |  |
Employee related expenses | 8,575 |  | 13,661 |  | 22,742 | 27,344 |
External research and development expenses | 25,111 |  | 27,025 |  | 60,466 | 44,613 |
Facility expenses | 4,581 |  | 7,370 |  | 13,974 | 12,589 |
Stock-based compensation expenses | 863 |  | 2,125 |  | 1,770 | 5,033 |
Sublicense and license fees | 95 |  | 857 |  | 112 | 6,753 |
Other expenses | 1,787 |  | 3,172 |  | 7,785 | 6,665 |
Other (expense) income, net: |  |  |  |  |  |  |
Restructuring and impairment charges | 24,830 |  | 64,075 |  |  |  |
General and administrative |  |  |  |  |  |  |
Operating expenses: |  |  |  |  |  |  |
Stock-based compensation expenses | 1,801 |  | 2,885 |  | 3,873 | 7,562 |
General and administrative | Reportable Segment |  |  |  |  |  |  |
Operating expenses: |  |  |  |  |  |  |
Employee related expenses | 3,436 |  | 4,800 |  | 8,541 | 9,690 |
Facility expenses | 1,941 |  | 2,783 |  | 4,762 | 5,695 |
Stock-based compensation expenses | 1,801 |  | 2,885 |  | 3,873 | 7,562 |
Professional service expenses | 3,711 |  | 3,893 |  | 6,151 | 6,808 |
Intellectual property and patent related fees | 3,221 |  | 3,845 |  | $ 5,767 | $ 7,790 |
Other (expense) income, net: |  |  |  |  |  |  |
Restructuring and impairment charges | $ 1,251 |  | $ 2,860 |  |  |  |

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