v3.26.1
Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 87.3 $ 142.9
Marketable securities 527.6 542.5
Accounts receivable 1.8 1.0
Other receivables 4.6 5.4
Prepaid expenses and other current assets 9.4 8.9
Total current assets 630.7 700.7
Property, equipment and leasehold improvements, net 5.5 5.2
Operating lease right-of-use assets 7.8 8.2
Collaboration contract asset and other assets 3.5 3.8
Total assets 647.5 717.9
Current liabilities:    
Accounts payable and accrued liabilities 62.3 69.5
Deferred revenue 51.8 71.3
Current portion of operating lease liabilities 1.8 1.7
Total current liabilities 115.9 142.5
Deferred revenue 138.2 134.3
Long-term debt 0.3 0.4
Operating lease liabilities 6.3 6.8
Total liabilities 260.7 284.0
Commitments and Contingencies (Note 12)
Stockholders’ equity:    
Preferred stock, $0.001 par value, zero shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 0.0 0.0
Common stock, $0.001 par value; 74.5 shares issued and 64.5 shares outstanding as of March 31, 2026, and 73.5 shares issued and 63.5 outstanding as of December 31, 2025 $ 0.1 $ 0.1
Number Of Authorized Shares Not Disclosed true true
Accumulated deficit $ (1,670.0) $ (1,612.4)
Additional paid-in capital 2,149.0 2,136.9
Accumulated other comprehensive (loss) income (0.4) 1.2
Treasury Stock, at cost (10.0 shares as of March 31, 2026 and December 31, 2025) (91.9) (91.9)
Total stockholders’ equity 386.8 433.9
Total liabilities and stockholders’ equity $ 647.5 $ 717.9