Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Schedule of Significant Segment Expenses

In addition to the significant expense categories included within consolidated net loss presented on the Company’s condensed consolidated statements of operations, see below for disaggregated amounts that comprise research and development expenses:


		Three Months Ended June 30,												Six Months Ended June 30,
		2026				2025				Increase/ (decrease)				2026				2025				Increase/ (decrease)
		(in thousands)												(in thousands)
Third-party research and development expenses(a)		$	232,942			$	144,138			$	88,804			$	441,438			$	276,881			$	164,557
Salaries and other employee-related expenses			78,627				41,170				37,457				140,159				78,364				61,795
Stock-based compensation expense			39,311				19,126				20,185				83,949				35,505				48,444
Amortization of intangible assets			—				267				(267	)			—				534				(534	)
Other research and development costs			44,039				19,433				24,606				73,343				38,599				34,744
Total research and development expense		$	394,919			$	224,134			$	170,785			$	738,889			$	429,883			$	309,006

(a) Third-party research and development expenses are comprised primarily of external costs incurred under agreements with third-party contract organizations, investigative clinical trial sites that conduct research and development activities on the Company’s behalf and consultants; costs related to the production of preclinical, clinical and pre-launch inventory, including fees paid to contract manufacturers; and laboratory and vendor expenses related to the execution of discovery programs, preclinical and clinical trials.