v3.25.2
Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net Income (Loss) $ 44,692 $ (97,718)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation 2,713 4,452
Stock-based compensation expense 8,200 16,350
Purchase of net (premiums) discounts on marketable securities (307) 2,262
Net accretion of discounts on marketable securities (1,254) (4,106)
Non-cash lease expense 1,603 2,850
Impairment and disposal of long-lived assets 52,889 0
Termination of prepaid contracts and other costs 915 0
Other 0 (1)
Changes in assets and liabilities:    
Prepaid expenses and other current assets 5,915 458
Other non-current assets 244 378
Accounts payable 1,445 1,846
Accrued liabilities (23,221) (3,561)
Lease liabilities, net (32,654) (1,250)
Deferred revenue (144,122) (1,751)
Other non-current liabilities (366) 0
Net cash used in operating activities (83,308) (79,791)
Cash flows from investing activities:    
Purchase of property, plant and equipment (32) (3,698)
Purchases of marketable securities (16,184) (117,027)
Proceeds from maturities and sales of marketable securities 101,122 153,868
Proceeds from sales of property, plant and equipment 2,372 32
Net cash provided by investing activities 87,278 33,175
Cash flows from financing activities:    
Proceeds from exercise of stock options 13 257
Proceeds from purchases under the employee stock purchase plan 4 582
Payment of deferred offering costs 0 (71)
Payment of employee taxes and exercise costs for shares withheld 0 (1)
Net cash provided by financing activities 17 767
Net increase (decrease) in cash, cash equivalents, and restricted cash 3,987 (45,849)
Beginning of period 113,112 26,662
End of period 30,649 67,263
Cash and cash equivalents 30,649 66,974
Restricted cash 0 289
Cash, cash equivalents, and restricted cash 30,649 67,263
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use assets recognized in exchange for lease obligations 0 117
Unpaid amounts related to purchase of property, plant and equipment $ 0 $ 973