Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.25.0.1
Consolidated Statements of Operations - USD ($)
shares in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Collaboration revenue $ 0 $ 0 $ 68,000,000
Operating expenses:      
Research and development 676,000,000 716,000,000 677,000,000
Selling, general and administrative 110,000,000 119,000,000 129,000,000
Goodwill impairment 0 0 1,114,000,000
Total operating expenses 786,000,000 835,000,000 1,920,000,000
Loss from operations (786,000,000) (835,000,000) (1,852,000,000)
Other income (expense):      
Change in fair value of derivative liabilities (24,000,000) (20,000,000) 114,000,000
Other income, net 62,000,000 59,000,000 15,000,000
Loss before income taxes (748,000,000) (796,000,000) (1,723,000,000)
Income tax expense 0 0 0
Net loss $ (748,000,000) $ (796,000,000) $ (1,723,000,000)
Basic net loss per share (in usd per share) $ (0.46) $ (0.60) $ (1.51)
Diluted net loss per share (in usd per share) $ (0.46) $ (0.60) $ (1.51)
Basic weighted-average shares outstanding (in shares) 1,618 1,327 1,143
Diluted weighted-average shares outstanding (in shares) 1,618 1,327 1,143