v3.26.1
Unaudited Consolidated Balance Sheets - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 368,008,000 $ 602,068,000
Marketable securities 122,594,000 0
Accounts receivable 888,000 1,276,000
Prepaid expenses 12,121,000 8,395,000
Other current assets 3,897,000 3,075,000
Total current assets 507,508,000 614,814,000
Long-term assets:    
Property and equipment, net of accumulated depreciation of $50,819 and $49,522 as of June 30, 2026 and December 31, 2025, respectively 6,833,000 7,405,000
Operating lease right-of-use assets 39,498,000 12,458,000
Restricted cash 3,815,000 3,806,000
Other assets 667,000 16,000
Total long-term assets 50,813,000 23,685,000
Total assets 558,321,000 638,499,000
Current liabilities:    
Accounts payable 20,362,000 15,700,000
Accrued expenses and other current liabilities 18,242,000 26,564,000
Current portion of deferred revenue 8,703,000 44,440,000
Current portion of operating lease liability 3,508,000 8,361,000
Total current liabilities 50,815,000 95,065,000
Long-term liabilities:    
Deferred revenue, net of current portion 13,904,000 7,798,000
Operating lease liability, net of current portion 40,082,000 9,405,000
Total long-term liabilities 53,986,000 17,203,000
Total liabilities 104,801,000 112,268,000
Series A preferred shares, no par value; nil and 3,901,348 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 0 7,874,000
Shareholders' equity    
Ordinary shares, no par value; 193,277,622 and 187,660,263 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 1,627,209,000 1,616,478,000
Additional paid-in capital 248,161,000 228,365,000
Accumulated other comprehensive loss (172,000) (250,000)
Accumulated deficit (1,421,678,000) (1,326,236,000)
Total shareholders' equity 453,520,000 518,357,000
Total liabilities, Series A preferred shares, and shareholders' equity $ 558,321,000 $ 638,499,000