v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 288,101 $ 167,806
Short-term marketable securities 106,565 147,551
Receivables from collaborative arrangements 15,584 45,539
Receivables from milestones and royalty assets   50,000
Other prepaid and current assets 7,384 7,564
Total current assets 417,634 418,460
Long-term marketable securities   11,128
Property and equipment, net 5,539 5,895
Operating lease assets 23,001 24,371
Restricted cash 836 836
Other assets 25,303 24,880
Total assets 472,313 485,570
Current liabilities:    
Accounts payable 1,100 2,568
Accrued personnel-related expenses 8,730 12,592
Accrued clinical and development expenses 2,396 3,373
Accrued general and administrative expenses 2,522 2,052
Operating lease liabilities 10,752 10,945
Income tax payable 5,287 5,287
Other accrued liabilities 988 1,485
Total current liabilities 31,775 38,302
Long-term operating lease liabilities 29,752 31,758
Future royalty payment contingency 32,795 32,795
Unrecognized tax benefits 87,153 85,679
Other long-term liabilities 244 313
Commitments and contingencies (Note 11)
Shareholders' Equity    
Preferred shares, $0.00001 par value per share: 230 shares authorized, no shares issued or outstanding
Ordinary shares, $0.00001 par value per share: 200,000 shares authorized; 51,515 and 51,069 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively 1 1
Additional paid-in capital 1,155,215 1,156,288
Accumulated other comprehensive income (62) 61
Accumulated deficit (864,560) (859,627)
Total shareholders' equity 290,594 296,723
Total liabilities and shareholders' equity $ 472,313 $ 485,570