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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows used in operating activities:    
Net loss $ (104,481) $ (101,088)
Adjustments to reconcile net loss to net cash used in operating activities    
Stock-based compensation expense 12,006 13,300
Non cash lease expense 4,761 7,917
Depreciation expense 3,564 2,853
Change in fair value of short-term investment — related party 1,561 759
Amortization of premiums and discount on short-term investments (575) (2,079)
Deferred income taxes 0 0
Changes in operating assets and liabilities:    
Collaboration receivable — related party (120) 0
Prepaid expenses and other current assets 652 (2,519)
Accounts payable (1,461) (9,230)
Accrued expenses and other current liabilities (1,690) (3,939)
Accrued settlement payment — related party 0 (13,500)
Deferred revenue — related party (2,433) 0
Lease liabilities (2,053) (5,672)
Net cash used in operating activities (90,269) (113,198)
Cash flows used in investing activities:    
Maturities of investments 14,250 110,000
Purchases of investments (55,227) (135,912)
Purchases of property and equipment (3,994) (4,226)
Net cash used in investing activities (44,971) (30,138)
Cash flows provided by financing activities:    
Proceeds from research and development funding liability 6,000 6,000
Proceeds from follow-on offering, net of issuance costs 0 132,055
Proceeds from issuance of pre-funded warrants, net of issuance costs 0 18,800
Proceeds from ESPP offerings 197 436
Net proceeds from stock option exercises 0 71
Net cash provided by financing activities 6,197 157,362
Net change in cash, cash equivalents, and restricted cash (129,043) 14,026
Cash, cash equivalents, and restricted cash at beginning of period 196,538 55,070
Cash, cash equivalents, and restricted cash at end of period 67,495 69,096
Reconciliation of cash, cash equivalents and restricted cash:    
Cash, cash equivalents, and restricted cash at end of period 67,495 69,096
Less: restricted cash 13,691 13,496
Total cash, and cash equivalents 53,804 55,600
Supplemental cash flow information:    
Right-of-use assets obtained in exchange for new operating lease liabilities 83,757 44,935
Decrease in right-of-use assets due to lease termination 3,120 0
Supplemental disclosure of non-cash investing and financing activities:    
Purchases of property and equipment included in accounts payable and accrued expenses $ 148 $ 355