v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 272,638 $ 799,623
Short-term investments 1,070,020 646,574
Other receivable   100,000
Prepaid expenses and other current assets 29,370 24,106
Total current assets 1,372,028 1,570,303
Property and equipment, net 6,332 6,653
Operating right-of-use assets 6,060 6,245
Other non-current assets 40,995 717
Total assets 1,425,415 1,583,918
Current liabilities:    
Accounts payable 11,131 13,864
Accrued expenses and other current liabilities 52,387 46,543
Operating lease liabilities, current portion 2,595 2,878
Total current liabilities 66,113 63,285
Operating lease liabilities, net of current portion 3,633 3,609
Other non-current liabilities 1,265 647
Total liabilities 71,011 67,541
Commitments and contingencies (Note 5)
Shareholders' equity:    
Undesignated shares - $0.0001 par value; 100,000 shares authorized as of June 30, 2026 and December 31, 2025
Ordinary shares - $0.0001 par value; 500,000 shares authorized as of June 30, 2026 and December 31, 2025; 213,655 and 212,513 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 21 21
Additional paid-in capital 2,010,255 1,985,602
Accumulated other comprehensive (loss) income (3,445) 1,054
Accumulated deficit (652,427) (470,300)
Total shareholders' equity 1,354,404 1,516,377
Total liabilities and shareholders' equity $ 1,425,415 $ 1,583,918