v3.25.2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 335,816 $ 120,256
Marketable securities (Note 4) 329,629 368,488
Accounts receivable 40,000 0
Contract assets 0 947
Prepaid expenses and other current assets 22,882 20,577
Total current assets 728,327 510,268
Marketable securities, non-current (Note 4) 297,629 362,159
Property and equipment, net (Note 6) 48,572 50,457
Right-of-use assets, operating leases 46,045 47,407
Other non-current assets 4,675 1,950
Restricted cash 5,820 5,794
Total assets 1,131,068 978,035
Current liabilities:    
Accounts payable 5,781 5,989
Accrued expenses (Note 8) 27,976 34,867
Deferred revenue 40,000 13,576
Operating lease liabilities 11,766 11,594
Finance lease liabilities 1,900 1,518
Other current liabilities 117 223
Total current liabilities 87,540 67,767
Non-current liabilities    
Operating lease liability 69,835 72,423
Finance lease liabilities, net of current portion 2,213 2,226
Total liabilities 159,588 142,416
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized and no shares issued and outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.0001 par value; 150,000,000 shares authorized at June 30, 2025 and December 31, 2024, 70,557,442 and 64,890,193 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively 7 7
Additional paid-in capital 1,867,999 1,591,707
Accumulated deficit (896,805) (754,610)
Accumulated other comprehensive loss 279 (1,485)
Total stockholders’ equity 971,480 835,619
Total liabilities and stockholders’ equity $ 1,131,068 $ 978,035