v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($)
$ in Thousands
Total
Follow-on Public Offering
At The Market Equity Offering
Common Stock
Common Stock
Follow-on Public Offering
Common Stock
At The Market Equity Offering
Additional Paid-In Capital
Additional Paid-In Capital
Follow-on Public Offering
Additional Paid-In Capital
At The Market Equity Offering
Accumulated Other Comprehensive Income/(Loss)
Accumulated Deficit
Beginning balance at Dec. 31, 2024 $ 2,265,204     $ 18     $ 4,001,666     $ 1,321 $ (1,737,801)
Beginning balance, shares at Dec. 31, 2024       185,896,625              
Issuance of common stock pursuant to stock option exercises 891           891        
Issuance of common stock pursuant to stock option exercises, shares       90,043              
Issuance of common stock related to vesting of restricted stock units, shares       271,536              
Exercise of warrants 1           1        
Exercise of warrants, shares       2              
Stock-based compensation expense 25,084           25,084        
Net unrealized gain (loss) on marketable securities 386                 386  
Net Income (Loss) (213,416)                   (213,416)
Ending balance at Mar. 31, 2025 2,078,150     $ 18     4,027,642     1,707 (1,951,217)
Ending balance, shares at Mar. 31, 2025       186,258,206              
Beginning balance at Dec. 31, 2024 2,265,204     $ 18     4,001,666     1,321 (1,737,801)
Beginning balance, shares at Dec. 31, 2024       185,896,625              
Net unrealized gain (loss) on marketable securities (19)                    
Net Income (Loss) (461,203)                    
Ending balance at Jun. 30, 2025 1,865,369     $ 18     4,063,053     1,302 (2,199,004)
Ending balance, shares at Jun. 30, 2025       186,901,268              
Beginning balance at Dec. 31, 2024 2,265,204     $ 18     4,001,666     1,321 (1,737,801)
Beginning balance, shares at Dec. 31, 2024       185,896,625              
Ending balance at Dec. 31, 2025 1,631,297     $ 19     4,497,143     3,237 (2,869,102)
Ending balance, shares at Dec. 31, 2025       197,001,401              
Beginning balance at Mar. 31, 2025 2,078,150     $ 18     4,027,642     1,707 (1,951,217)
Beginning balance, shares at Mar. 31, 2025       186,258,206              
Issuance of common stock pursuant to stock option exercises 1,937           1,937        
Issuance of common stock pursuant to stock option exercises, shares       121,103              
Issuance of common stock related to vesting of restricted stock units, shares       361,975              
Issuance of common stock related to employee stock purchase plan 4,644           4,644        
Issuance of common stock related to employee stock purchase plan, shares       159,984              
Stock-based compensation expense 28,830           28,830        
Net unrealized gain (loss) on marketable securities (405)                 (405)  
Net Income (Loss) (247,787)                   (247,787)
Ending balance at Jun. 30, 2025 1,865,369     $ 18     4,063,053     1,302 (2,199,004)
Ending balance, shares at Jun. 30, 2025       186,901,268              
Beginning balance at Dec. 31, 2025 1,631,297     $ 19     4,497,143     3,237 (2,869,102)
Beginning balance, shares at Dec. 31, 2025       197,001,401              
Issuance of common stock pursuant to stock option exercises 12,209           12,209        
Issuance of common stock pursuant to stock option exercises, shares       473,472              
Issuance of common stock related to vesting of restricted stock units, shares       367,871              
Issuance of common stock, net of offering costs     $ 226,730           $ 226,730    
Issuance of common stock upon offering, net of offering costs, shares           2,335,397          
Exercise of warrants 57           57        
Exercise of warrants, shares       485              
Stock-based compensation expense 87,299           87,299        
Foreign currency translation adjustment (8)                 (8)  
Net unrealized gain (loss) on marketable securities (3,851)                 (3,851)  
Net Income (Loss) (453,816)                   (453,816)
Ending balance at Mar. 31, 2026 1,499,917     $ 19     4,823,438     (622) (3,322,918)
Ending balance, shares at Mar. 31, 2026       200,178,626              
Beginning balance at Dec. 31, 2025 1,631,297     $ 19     4,497,143     3,237 (2,869,102)
Beginning balance, shares at Dec. 31, 2025       197,001,401              
Net unrealized gain (loss) on marketable securities (9,086)                    
Net Income (Loss) (1,098,187)                    
Ending balance at Jun. 30, 2026 2,606,238     $ 21     6,579,456     (5,950) (3,967,289)
Ending balance, shares at Jun. 30, 2026       214,242,688              
Beginning balance at Mar. 31, 2026 1,499,917     $ 19     4,823,438     (622) (3,322,918)
Beginning balance, shares at Mar. 31, 2026       200,178,626              
Issuance of common stock pursuant to stock option exercises 28,844     $ 1     28,843        
Issuance of common stock pursuant to stock option exercises, shares       1,309,927              
Issuance of common stock related to vesting of restricted stock units, shares       395,886              
Issuance of common stock related to employee stock purchase plan 8,473           8,473        
Issuance of common stock related to employee stock purchase plan, shares       208,030              
Issuance of common stock, net of offering costs   $ 1,651,355     $ 1     $ 1,651,354      
Issuance of common stock upon offering, net of offering costs, shares         12,147,887            
Exercise of warrants 348           348        
Exercise of warrants, shares       2,332              
Stock-based compensation expense 67,000           67,000        
Foreign currency translation adjustment (93)                 (93)  
Net unrealized gain (loss) on marketable securities (5,235)                 (5,235)  
Net Income (Loss) (644,371)                   (644,371)
Ending balance at Jun. 30, 2026 $ 2,606,238     $ 21     $ 6,579,456     $ (5,950) $ (3,967,289)
Ending balance, shares at Jun. 30, 2026       214,242,688