v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 53,804 $ 182,476
Collaboration receivable — related party 120 0
Prepaid expenses 3,032 6,777
Other current assets 16,385 14,667
Total current assets 121,287 211,886
Property and equipment, net 23,828 24,404
Operating lease right-of-use assets 120,203 47,156
Restricted cash 13,691 14,062
Total assets 279,009 297,508
Current liabilities:    
Accounts payable 6,378 11,351
Accrued expenses and other current liabilities 12,158 15,904
Deferred revenue — related party 8,315 7,092
Operating lease liability 7,258 3,614
Total current liabilities 34,109 37,961
Deferred revenue, net of current — related party 59,562 63,218
Operating lease liability, net of current 112,478 37,180
Research and development funding liability 12,000 6,000
Total liabilities 218,149 144,359
Commitments and contingencies
Stockholders’ equity    
Common stock, par value of $0.00001 per share; 775,000,000 shares authorized; 134,494,438 and 131,160,842 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 2 2
Additional paid-in capital 852,561 840,358
Accumulated other comprehensive loss (10) 1
Accumulated deficit (791,693) (687,212)
Total stockholders’ equity 60,860 153,149
Total liabilities and stockholders’ equity 279,009 297,508
Nonrelated Party    
Current assets:    
Short-term investments 44,539 2,998
Related Party    
Current assets:    
Short-term investments $ 3,407 $ 4,968