v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 124,477 $ 357,011
Marketable securities (Note 4) 566,508 491,265
Accounts receivable 20,000 0
Prepaid expenses and other current assets 26,280 22,938
Total current assets 737,265 871,214
Marketable securities, non-current (Note 4) 813,901 771,158
Property and equipment, net (Note 6) 39,971 43,175
Right-of-use assets, operating leases 41,100 42,351
Other non-current assets 7,385 9,114
Restricted cash 5,822 5,800
Total assets 1,645,444 1,742,812
Current liabilities:    
Accounts payable 8,918 4,015
Accrued expenses (Note 8) 48,476 42,274
Deferred revenue 0 22,925
Operating lease liabilities 12,119 11,941
Finance lease liabilities 1,577 1,815
Other current liabilities 236 242
Total current liabilities 71,326 83,212
Non-current liabilities    
Deferred revenue, net of current portion 0 11,440
Operating lease liabilities, net of current portion 64,022 67,034
Finance lease liabilities, net of current portion 840 1,462
Total liabilities 136,188 163,148
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 0 shares issued and outstanding as of June 30, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value; 150,000,000 shares authorized at June 30, 2026 and December 31, 2025, 82,788,253 and 81,323,532 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 8 8
Additional paid-in capital 2,712,811 2,643,817
Accumulated deficit (1,196,406) (1,065,961)
Accumulated other comprehensive (loss) income (7,157) 1,800
Total stockholders’ equity 1,509,256 1,579,664
Total liabilities and stockholders’ equity $ 1,645,444 $ 1,742,812