v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 175,677 $ 165,596
Short-term investments 350,251 248,478
Accounts receivable, net 23,490 15,594
Inventory 70,930 54,895
Prepaid expenses and other current assets 48,285 42,614
Total current assets 668,633 527,177
Property and equipment, net 2,575 1,943
Operating lease right-of-use assets 8,353 9,807
Other long-term assets 10,834 11,307
Intangible asset, net 14,750 15,250
Deferred tax assets 190,965 198,149
Total assets 896,110 763,633
Current liabilities:    
Accounts payable 12,404 2,028
Accrued collaboration expenses 88,049 70,015
Accrued expenses 46,730 42,020
Operating lease liabilities 4,012 2,987
Other current liabilities 20,052 22,134
Total current liabilities 171,247 139,184
Non-current liabilities:    
Non-current deferred revenue 31,811 31,811
Non-current operating lease liabilities 4,885 6,510
Other long-term liabilities 34,018 18,522
Total liabilities 241,961 196,027
Commitments and contingencies (Note 13)
Shareholders' equity:    
Additional paid-in capital 1,069,622 1,029,748
Accumulated other comprehensive loss (1,380) (25)
Accumulated deficit (414,114) (462,138)
Total shareholders' equity 654,149 567,606
Total liabilities and shareholders' equity 896,110 763,633
Class A ordinary shares    
Shareholders' equity:    
Ordinary shares value 12 12
Class B ordinary shares    
Shareholders' equity:    
Ordinary shares value 1 1
Class A1 ordinary shares    
Shareholders' equity:    
Ordinary shares value 4 4
Class B1 ordinary shares    
Shareholders' equity:    
Ordinary shares value $ 4 $ 4