CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 437,091	$ 323,527
Marketable securities	54,997	44,036
Prepaid expenses and other current assets	15,095	17,584
Total current assets	507,183	385,147
Property and equipment, net	1,166	1,705
Operating lease right-of-use asset	8,620	10,382
Restricted cash	3,807	3,807
Other long-term assets	2,767	3,231
Total assets	523,543	404,272
Current liabilities:
Accounts payable	10,995	10,303
Accrued expenses	54,931	39,566
Operating lease liability	6,316	5,550
Total current liabilities	72,242	55,419
Long-term portion of operating lease liability	1,314	3,656
Long-term debt	196,203	99,709
Total liabilities	269,759	158,784
Commitments and contingencies (Note 10)
Stockholders' equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding at June 30, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value; 300,000,000 shares authorized; 121,600,396 and 108,461,354 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively	122	108
Additional paid-in capital	1,768,581	1,545,940
Accumulated other comprehensive income	1,141	94
Accumulated deficit	(1,516,060)	(1,300,654)
Total stockholders' equity	253,784	245,488
Total liabilities and stockholders' equity	$ 523,543	$ 404,272

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

Name:	us-gaap_AccountsPayableCurrent
Namespace Prefix:	us-gaap_
Data Type:	xbrli:monetaryItemType
Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).