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Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Total revenues $ 39 $ 29 $ 184 $ 54
Operating expenses:        
Research and development (Includes $14, $34, $30 and $67 of net recoveries from a related party) 115 84 224 165
General and administrative 30 28 62 58
Impairment of long-lived assets 0 0 20 0
Total operating expenses 145 112 306 223
Loss from operations (106) (83) (122) (169)
Non-operating income (expense):        
Interest and other income, net 13 9 26 18
Effective interest on liability for sale of future royalties 0 0 (1) (1)
Total non-operating income, net 13 9 25 17
Loss before income taxes (93) (74) (97) (152)
Income tax expense 0 (1) 0 (3)
Net loss $ (93) $ (75) $ (97) $ (155)
Net loss per share, basic (in dollars per share) $ (1.02) $ (1.04) $ (1.09) $ (2.13)
Net loss per share, diluted (in dollars per share) $ (1.02) $ (1.04) $ (1.09) $ (2.13)
Shares used to compute loss per share, basic (in shares) 91.1 73.2 88.6 73.1
Shares used to compute loss per share, diluted (in shares) 91.1 73.2 88.6 73.1
License and Development Services Revenue        
Revenues:        
Total revenues $ 28 $ 19 $ 163 $ 36
Other Collaboration Revenue        
Revenues:        
Total revenues $ 11 $ 10 $ 21 $ 18