v3.26.1
Income Taxes - Schedule of Components of Deferred Tax Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Net operating loss carryforwards $ 87,270 $ 39,662
Research and development credits 51,991 46,739
Capitalized research and development expenditure 71,492 77,845
Deferred royalty obligation 46,390 38,639
Deferred revenue 2,590 16,620
Operating lease liability 3,312 4,948
Stock based compensation 4,614 5,824
Accruals and other 6,864 1,376
Fixed asset basis 375 0
Total deferred tax assets 274,898 231,653
Less: valuation allowance (272,196) (227,831)
Gross deferred tax assets 2,702 3,822
Deferred tax liabilities:    
Operating lease right-of-use asset (2,304) (3,778)
Fixed asset basis 0 (10)
Other (398) (34)
Total deferred tax liabilities (2,702) (3,822)
Total net deferred tax assets $ 0 $ 0