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Consolidated Statements of Operations and Comprehensive Loss - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Revenue:    
Collaboration and license revenue $ 38,275 $ 26,004
Grant revenue 638 0
Total revenue 38,913 26,004
Operating expenses:    
Research and development 45,105 71,260
General and administrative 30,126 40,450
Impairment of long-lived assets 7,579 710
Total operating expenses 82,810 112,420
Operating loss (43,897) (86,416)
Interest income 7,386 4,964
Foreign currency transaction, net 0 38
Interest expense 0 (2,833)
Change in fair value of warrant liabilities 2,558 12,746
Change in fair value of contingent value right liability (36,900) (18,300)
Change in fair value of forward contract liabilities (6,890) (149,600)
Other income, net 606 691
Loss before income taxes (77,137) (238,710)
Income tax (expense) benefit (287) 19,000
Net loss (77,424) (219,710)
Other comprehensive loss:    
Foreign currency translation adjustment (21) (53)
Unrealized gain on marketable securities 0 11
Total comprehensive loss $ (77,445) $ (219,752)
Net loss per share allocable to common stockholders:    
Basic (in dollars per share) $ (4.48) $ (49.76)
Diluted (in dollars per share) $ (4.49) $ (49.76)
Weighted-average common shares outstanding:    
Basic (in shares) 17,276,822 5,170,319
Diluted (in shares) 17,357,943 5,170,319