v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities:    
Net loss $ (213,038) $ (149,753)
Adjustments to reconcile net loss to net cash used in operating activities:    
Interest receivable and accretion of discounts on marketable securities (2,908) 6,505
Depreciation of property plant and equipment 1,145 1,291
Non-cash operating lease expense 663 649
Deferred income tax recovery (1,497) (1,383)
Stock-based compensation expense 33,626 25,887
Unrealized foreign exchange gain (662) (28)
Realized (gain) loss on marketable securities (667) 518
Changes in operating assets and liabilities:    
Other receivables (262) 380
Prepaid expenses and other current assets (3,983) (6,412)
Accounts payable and accrued liabilities 3,915 (2,914)
Operating lease liability (707) (625)
Other liabilities 88 0
Net cash used in operating activities (184,287) (125,885)
Investing activities:    
Purchases of property, plant and equipment (408) (200)
Purchases of marketable securities (996,034) (220,055)
Proceeds from marketable securities 257,922 337,025
Net cash provided by (used in) investing activities (738,520) 116,770
Financing activities:    
Proceeds from offerings, net 837,526 0
Proceeds from exercise of stock options 5,513 1,216
Net cash provided by financing activities 843,039 1,216
Effect of exchange rate changes on cash and cash equivalents 132 568
Decrease in cash and cash equivalents (79,636) (7,331)
Cash and cash equivalents, beginning of period 199,163 142,712
Cash and cash equivalents, end of period 119,527 135,381
Supplemental disclosure of cash paid:    
Operating lease 879 845
Income taxes 984 7,897
Supplemental disclosures of non-cash transactions:    
Fair value of stock options and pre-funded warrants exercised on a cashless basis $ 21,818 $ 10,324