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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Income Statement [Abstract]        
Collaboration revenue $ 43,735 $ 0 $ 87,165 $ 0
Operating expenses:        
Research and development 22,191 18,958 71,593 50,924
General and administrative 7,532 6,978 23,639 20,745
Total operating expenses 29,723 25,936 95,232 71,669
Income (loss) from operations 14,012 (25,936) (8,067) (71,669)
Other income:        
Interest and other income 4,051 799 10,926 1,682
Total other income 4,051 799 10,926 1,682
Income (loss) before benefit from income taxes 18,063 (25,137) 2,859 (69,987)
Benefit from income taxes 17,398 0 0 0
Net income (loss) $ 35,461 $ (25,137) $ 2,859 $ (69,987)
Net income (loss) per share, basic (in dollars per share) $ 1.07 $ (0.80) $ 0.09 $ (2.24)
Net income (loss) per share, diluted (in dollars per share) $ 1.02 $ (0.80) $ 0.08 $ (2.24)
Weighted-average common shares outstanding, basic (in shares) 33,281,287 31,298,052 32,942,958 31,273,612
Weighted-average common shares outstanding, diluted (in shares) 34,775,451 31,298,052 34,289,411 31,273,612
Other comprehensive income (loss):        
Unrealized gain (loss) on marketable securities $ 509 $ (482) $ 1,561 $ (2,747)
Total other comprehensive gain (loss) 509 (482) 1,561 (2,747)
Total comprehensive income (loss) $ 35,970 $ (25,619) $ 4,420 $ (72,734)