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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Total revenues $ 117 $ 112 $ 383
Operating expenses:      
Research and development (Net of recoveries of $110, $132 and $25 from a related party) 340 288 257
General and administrative (Net of recoveries of $—, $1 and $— from a related party) 117 104 72
Total operating expenses 457 392 329
Income (loss) from operations (340) (280) 54
Non-operating income (expense):      
Interest and other income, net 41 16 1
Effective interest on liability for sale of future royalties (2) (2) 0
Total non-operating income, net 39 14 1
Income (loss) before income taxes (301) (266) 55
Income tax expense (6) (1) (2)
Net income (loss) $ (307) $ (267) $ 53
Net income (loss) per share, basic (in dollars per share) $ (4.15) $ (3.71) $ 0.76
Net income (loss) per share, diluted (in dollars per share) $ (4.15) $ (3.71) $ 0.71
Shares used to compute net income (loss) per share, basic (in shares) 74.0 72.0 69.3
Shares used to compute net income (loss) per share, diluted (in shares) 74.0 72.0 74.0
License and Development Services Revenue      
Revenues:      
Total revenues $ 80 $ 74 $ 345
Other Collaboration Revenue      
Revenues:      
Total revenues $ 37 $ 38 $ 38