v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 183,190 $ 173,959
Short-term investments 1,303,648 1,387,000
Prepaid expenses and other current assets 65,830 66,402
Total current assets 1,552,668 1,627,361
Property and equipment, net 260,390 257,370
Operating lease right-of-use assets 110,178 116,009
Long-term investments 1,020,896 881,664
Restricted cash 1,465 1,466
Other assets 192,557 118,847
Total noncurrent assets 1,585,486 1,375,356
Total assets 3,138,154 3,002,717
Current liabilities:    
Accounts payable 100,919 70,904
Accrued compensation 13,822 23,000
Accrued contract manufacturing expenses 125,298 74,654
Accrued expenses 24,728 31,068
Operating lease liabilities — current 6,510 6,124
Total current liabilities 271,277 205,750
Operating lease liabilities — long-term 108,935 111,457
Total liabilities 380,212 317,207
Commitments and contingencies (Note 6)
Stockholders' Equity    
Preferred stock, $0.001 par value — 10,000,000 shares authorized at June 30, 2026 and December 31, 2025; no shares issued and outstanding at June 30, 2026 and December 31, 2025 0 0
Common stock, $0.001 par value — 500,000,000 shares authorized at June 30, 2026 and December 31, 2025; 144,785,934 and 131,058,858 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively 148 134
Additional paid-in capital 5,525,211 4,838,736
Accumulated other comprehensive (gain) loss (7,546) 1,587
Accumulated deficit (2,759,871) (2,154,947)
Total stockholders' equity 2,757,942 2,685,510
Total liabilities and stockholders' equity $ 3,138,154 $ 3,002,717