Balance Sheet Components

6 Months Ended

Jun. 30, 2026

Balance Sheet Related Disclosures [Abstract]

Balance sheet components

Property and equipment, net

Property and equipment, net consisted of the following:


	June 30,			December 31,
	2026			2025
	(in thousands)
Laboratory equipment	$	35,506		$	30,098
Leasehold improvements		22,602			22,278
Computer equipment and software		7,275			7,322
Furniture and fixtures		1,952			1,955
Construction in progress		111			54
		67,446			61,707
Less: accumulated depreciation		(32,838	)		(28,513	)
Property and equipment, net	$	34,608		$	33,194

Depreciation expense for property and equipment amounted to $2.1 million and $1.7 million for the three months ended June 30, 2026 and 2025, respectively, and $4.3 million and $3.3 million for the six months ended June 30, 2026 and 2025, respectively.

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following:


	June 30,		December 31,
	2026		2025
	(in thousands)
Accrued compensation	$	64,686	$	58,192
Accrued research and development		170,116		137,153
Accrued professional services		8,942		6,137
Other		5,145		7,858
Total accrued expenses and other current liabilities	$	248,889	$	209,340