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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues $ 11 $ 32,555 $ 320 $ 33,010
Cost of goods sold 0 333 0 447
Gross profit 11 32,222 320 32,563
Operating expenses:        
Research and development 17,396 15,263 53,144 52,350
General and administrative 9,304 5,313 19,431 16,785
Total operating expenses 26,700 20,576 72,575 69,135
(Loss) income from operations (26,689) 11,646 (72,255) (36,572)
Other income:        
Interest income and other, net 2,703 199 8,321 182
Gain on sale of business, net 0 229,670 0 229,670
(Loss) income before income taxes (23,986) 241,515 (63,934) 193,280
Income tax expense 0 153 0 153
Net (loss) income (23,986) 241,362 (63,934) 193,127
Other comprehensive (loss) income:        
Unrealized gain (loss) on debt investments, net 188 31 (288) (16)
Comprehensive (loss) income $ (23,798) $ 241,393 $ (64,222) $ 193,111
Per share information:        
Net loss, basic (in dollars per share) $ (0.27) $ 2.75 $ (0.72) $ 2.21
Net loss, diluted (in dollars per share) $ (0.27) $ 2.75 $ (0.72) $ 2.17
Weighted-average shares outstanding, basic (in shares) 88,620,666 87,634,888 88,500,813 87,388,624
Weighted-average shares outstanding, diluted (in shares) 88,620,666 87,814,330 88,500,813 89,070,831
Procurement revenue        
Revenues $ 0 $ 31,971 $ 0 $ 31,971
Contract and grant revenue        
Revenues 11 503 271 503
Licensing revenue        
Revenues $ 0 $ 81 $ 49 $ 536