v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 420,078 $ 128,390
Marketable securities 362,498 438,974
Receivable from collaboration partner 13,416 121
Contract asset 3,366  
Prepaid expenses and other current assets 7,790 10,089
Total current assets 807,148 577,574
Marketable securities - noncurrent 66,875 78,638
Property and equipment, net 3,456 3,860
Restricted cash - noncurrent 287 287
Operating lease right-of-use asset 6,946 7,829
Other non-current assets 832  
Total assets 885,544 668,188
Current liabilities:    
Accounts payable 3,459 5,339
Accrued expenses and other payables 21,667 28,269
Deferred revenue 9,659 9,550
Operating lease liability 2,396 2,283
Total current liabilities 37,181 45,441
Operating lease liability - noncurrent 6,820 8,040
Total liabilities 44,001 53,481
Commitments and contingencies
Stockholders' equity:    
Preferred stock, $0.00001 par value, 10,000,000 shares authorized; no shares issued and outstanding
Common stock, $0.00001 par value, 180,000,000 shares authorized; 64,672,032 and 62,577,897 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 1 1
Additional paid-in capital 1,146,409 1,084,736
Accumulated other comprehensive (loss) income (828) 641
Accumulated deficit (304,039) (470,671)
Total stockholders' equity 841,543 614,707
Total liabilities and stockholders' equity $ 885,544 $ 668,188