v3.25.2
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 248 $ 150
Marketable securities 663 828
Receivable from collaboration partners ($4 and $6 from a related party) 15 20
Prepaid expenses and other current assets 20 18
Total current assets 946 1,016
Long-term marketable securities 16 14
Property and equipment, net 44 47
Other noncurrent assets 69 73
Total assets 1,075 1,150
Current liabilities:    
Accounts payable 29 18
Deferred revenue ($71 and $85 to a related party) 71 85
Other current liabilities 110 123
Total current liabilities 210 226
Deferred revenue, noncurrent ($60 and $234 to a related party) 60 234
Long-term debt 97 48
Other noncurrent liabilities 159 157
Commitments
Stockholders’ equity:    
Common stock and additional paid-in capital: $0.0001 par value per share; 400.0 shares authorized; 106.4 shares in 2025 and 92.2 shares in 2024 issued and outstanding 1,793 1,617
Accumulated deficit (1,244) (1,132)
Total stockholders’ equity 549 485
Total liabilities and stockholders’ equity $ 1,075 $ 1,150