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Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2020 | Jun. 30, 2019
Income Statement [Abstract] |  |  |  |  |
Revenues (including amounts from related parties of $0 and $2,813 during the three and six months ended June 30, 2020, respectively, and $5,497 and $10,413 during the three and six months ended June 30, 2019, respectively) | [1],[2] | $ 9,469 | $ 10,525 | $ 16,621 | $ 19,154
Operating expenses |  |  |  |  |
Research and development |  | 17,243 | 16,143 | 34,862 | 31,323
General and administrative |  | 8,643 | 8,067 | 17,356 | 15,782
Total operating expenses |  | 25,886 | 24,210 | 52,218 | 47,105
Loss from operations |  | (16,417) | (13,685) | (35,597) | (27,951)
Interest income |  | 384 | 1,124 | 1,025 | 2,300
Unrealized gain on equity securities |  | 48,860 |  | 48,860 |
Interest and other expense, net |  | (2,955) | (1,232) | (4,011) | (2,392)
Net income (loss) |  | $ 29,872 | $ (13,793) | $ 10,277 | $ (28,043)
Net income (loss) per share, basic | [3] | $ 1.00 | $ (0.60) | $ 0.39 | $ (1.22)
Net income (loss) per share, diluted | [3] | $ 0.94 | $ (0.60) | $ 0.36 | $ (1.22)
[1] | Includes $0 and $2.8 million, respectively, for the three months and six months ended June 30, 2020 of related party revenue from Merck. Merck was a related party until the closing of the Company’s public offering on May 14, 2020.
[2] | Includes $0 and $36,000, respectively, for the three months and six months ended June 30, 2020 of related party revenue from Vaxcyte (formerly SutroVax). Vaxcyte was a related party until the closing of its initial public offering on June 16, 2020.
[3] | See Notes 2 and 10 for an explanation of the calculations of our basic and diluted net income (loss) per share, basic and diluted and the weighted-average number of shares used in the computation of the per share amounts.

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