v3.26.1
Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets, Current [Abstract]    
Cash and cash equivalents $ 161,154 $ 104,901
Marketable securities, current 351,028 231,074
Prepaid expenses and other current assets 16,919 12,542
Restricted cash 400 400
Total current assets 529,501 348,917
Property and equipment, net 138,067 142,898
Operating lease right-of-use assets 91,066 90,965
Marketable securities, non-current 83,828  
Restricted cash, non-current 7,808 7,771
Other non-current assets 556 4,183
Total assets 850,826 594,734
Current liabilities:    
Accounts payable 6,005 681
Accrued expenses and other current liabilities 29,319 44,298
Operating lease liability, current 9,740 10,028
Total current liabilities 45,064 55,007
Operating lease liability, non-current 245,091 247,291
Other non-current liabilities 10,000 10,000
Total liabilities 300,155 312,298
Commitments and contingencies (see Note 7)
Redeemable convertible preferred stock, $0.0001 par value; no shares authorized, issued and outstanding as of March 31, 2026 and 262,597,889 shares authorized, 222,658,133 shares issued and outstanding, and aggregate liquidation preference of $1,159,762 as of December 31, 2025 0 1,161,470
Stockholders' equity (deficit):    
Preferred stock, $0.0001 par value; 50,000,000 shares authorized and no shares issued and outstanding as of March 31, 2026 and no shares authorized, issued and outstanding as of December 31, 2025 0 0
Common stock, $0.0001 par value; 500,000,000 shares authorized and 54,138,555 shares issued and outstanding as of March 31, 2026 and 340,650,000 shares authorized and 3,068,490 shares issued and outstanding as of December 31, 2025 5  
Additional paid-in capital 1,554,133 41,475
Accumulated deficit (1,003,467) (920,509)
Total stockholders' equity (deficit) 550,671 (879,034)
Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit) $ 850,826 $ 594,734