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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Total revenues $ 72,839 $ 110,708 $ 108,273 $ 130,609
Costs and expenses:        
Cost of product sales 0 168 0 614
Cost of manufacturing services 11,589 1,702 25,894 6,195
Research and development 32,709 40,543 113,198 138,304
Selling, general and administrative 9,905 14,104 29,925 43,237
Total costs and expenses 54,203 56,517 169,017 188,350
Income (loss) from operations 18,636 54,191 (60,744) (57,741)
Interest and other income 1,528 2,118 4,620 7,335
Interest and other expense (3,342) 0 (4,236) (1,139)
Income (loss) before income taxes 16,822 56,309 (60,360) (51,545)
Income tax provision 0 0 105 0
Net loss 16,822 56,309 (60,465) (51,545)
Other comprehensive income:        
Unrealized gain on investments 12 38 1 20
Comprehensive income (loss) $ 16,834 $ 56,347 $ (60,464) $ (51,525)
Net income (loss) per common share:        
Basic net loss per common share (in usd per share) $ 0.27 $ 0.90 $ (0.96) $ (0.82)
Diluted net loss per common share (in usd per share) $ 0.27 $ 0.90 $ (0.96) $ (0.82)
Weighted average common shares outstanding:        
Basic weighted average common shares outstanding (in shares) 63,233,266 62,744,005 63,112,560 62,566,723
Diluted weighted average common shares outstanding (in shares) 63,283,624 62,865,841 63,112,560 62,566,723
Main Segment        
Revenues:        
Total revenues $ 72,839 $ 110,708 $ 108,273 $ 130,609
Costs and expenses:        
Cost of product sales 0 168 0 614
Cost of manufacturing services 11,589 1,702 25,894 6,195
Research and development 32,709 40,543 113,198 138,304
Selling, general and administrative 9,905 14,104 29,925 43,237
Net loss 16,822 56,309 (60,465) (51,545)
Collaborative and other agreements        
Revenues:        
Total revenues 53,003 101,408 66,915 105,180
Product sales, net        
Revenues:        
Total revenues 0 4,161 0 14,270
Contract manufacturing        
Revenues:        
Total revenues 19,836 4,573 41,358 9,742
Government agreements        
Revenues:        
Total revenues $ 0 $ 566 $ 0 $ 1,417