Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Reconciliation of Cash, Cash Equivalents, and Restricted Cash

A reconciliation of cash, cash equivalents, and restricted cash reported in the accompanying condensed consolidated balance sheets to the amount reported within the accompanying condensed consolidated statements of cash flows was as follows (in thousands):


		March 31, 2026				December 31, 2025
Cash and cash equivalents		$	129,843			$	122,518
Restricted cash			3,111				3,114
Total cash, cash equivalents, and restricted cash as reported within our condensed consolidated statement of cash flows		$	132,954			$	125,632

Schedule of Accounts Receivable, Net

Accounts receivable, net was as follows (in thousands):


		March 31, 2026				December 31, 2025
Accounts receivable, net:
Net product receivables		$	4,473			$	—
Collaboration receivables			2,354				17,764
Total accounts receivable, net		$	6,827			$	17,764

Schedule of Inventories

Inventories were as follows (in thousands):


		March 31, 2026				December 31, 2025
Inventories:
Finished goods		$	154			$	—
Total inventories, current			154				—
Inventories, long-term (1)			3,843				—
Total current and long-term inventories		$	3,997			$	—

(1) Inventories, long-term, are comprised of raw materials and work in process that are expected to be sold beyond the next 12 months.

Summary of Accrued Liabilities

Accrued liabilities were as follows (in thousands):


		March 31, 2026				December 31, 2025
Accrued liabilities:
Clinical and preclinical costs		$	23,981			$	24,561
Compensation related			27,355				45,150
Other accrued expenses			17,527				13,567
Total accrued liabilities		$	68,863			$	83,278