v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities:    
Net loss $ (43,165) $ (45,621)
Cash flows from operating activities:    
Depreciation of property and equipment 5,918 4,409
Amortization of intangible assets 920 922
Amortization of operating lease right-of-use assets 1,817 1,274
Stock-based compensation 12,013 14,786
Other 2,377 2,213
Changes in operating assets and liabilities:    
Research fees and grants receivable 13,103 (1,133)
Income taxes payable (4,970) (4,408)
Accounts payable and accrued liabilities (9,406) (3,409)
Deferred revenue (8,033) 13,313
Deferred grant income (2,356) (1,220)
Other assets (1,741) 7,320
Net cash used in operating activities (33,523) (11,554)
Cash flows from investing activities:    
Purchases of property and equipment (3,831) (10,636)
Purchase of marketable securities (166,308) (164,990)
Proceeds from marketable securities 143,802 190,027
Receipt of grant funding 1,361 1,018
Long-term investments and other assets (105) (7,484)
Net cash provided by (used in) investing activities (25,081) 7,935
Cash flows from financing activities:    
Proceeds from long-term liabilities and other 7,192 5,970
Net cash provided by financing activities 7,192 5,970
Effect of exchange rate changes on cash and cash equivalents (38) 590
Increase (decrease) in cash and cash equivalents (51,450) 2,941
Cash and cash equivalents and restricted cash, beginning of period 155,249 183,615
Cash and cash equivalents and restricted cash, end of period 103,799 186,556
Restricted cash included in other assets 1,736 2,290
Total cash, cash equivalents, and restricted cash shown on the balance sheet 102,063 184,266
Supplemental disclosure of non-cash investing and financing activities    
Property and equipment in accounts payable 706 10,960
Right-of-use assets obtained in exchange for operating lease obligation $ 0 $ 3,361