v3.26.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 90,104 $ 129,883
Marketable securities 531,000 247,221
Collaboration receivable 0 7,000
Other receivables 4,920 4,600
Prepaid expenses and other current assets 5,382 4,481
Total current assets 631,406 393,185
Property and equipment, net 29,932 25,986
Operating lease right-of-use assets 24,056 24,386
Restricted cash 4,939 4,954
Other long-term assets 828 148
Total assets 691,161 448,659
Current liabilities:    
Accounts payable 7,152 3,550
Accrued expenses and other current liabilities 25,773 26,694
Current deferred revenue 22,103 29,571
Current portion of operating lease liability 4,630 4,397
Total current liabilities 59,658 64,212
Deferred revenue, net of current 105,623 111,332
Defined benefit plan liability 5,242 5,265
Operating lease liability, net of current 33,357 34,794
Total liabilities 203,880 215,603
Commitments and contingencies (Note 8)
Stockholders' equity    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 0 0
Common stock, $0.0001 par value 500,000,000 shares authorized, 85,226,427 and 65,543,723 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 9 7
Additional paid-in capital 1,057,551 714,090
Accumulated other comprehensive loss (5,165) (3,827)
Accumulated deficit (565,114) (477,214)
Total stockholders' equity 487,281 233,056
Total liabilities and stockholders' equity $ 691,161 $ 448,659