v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 345,558 $ 112,279
Marketable securities 668,432 230,859
Restricted cash 0 428
Prepaid expenses and other current assets 17,681 10,190
Total current assets 1,031,671 353,756
Property and equipment, net 6,094 6,868
Operating lease right-of-use assets 33,664 35,624
Restricted cash, net of current portion 2,139 2,139
Other assets 312 303
Total assets 1,073,880 398,690
Current liabilities:    
Accounts payable 1,810 1,182
Accrued expenses and other current liabilities 15,546 17,759
Operating lease liabilities 2,943 2,738
Total current liabilities 20,299 21,679
Operating lease liabilities, net of current portion 29,049 30,832
Total liabilities 49,348 52,511
Commitments and contingencies (Note 7)
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 0 0
Stockholders' equity:    
Common stock, $0.001 par value; 400,000,000 and 200,000,000 shares authorized at June 30, 2026 and December 31, 2025, respectively;168,380,091 and 135,940,454 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively 168 136
Additional paid-in capital 1,729,004 948,971
Accumulated other comprehensive (loss) income (633) 224
Accumulated deficit (704,007) (603,152)
Total stockholders' equity 1,024,532 346,179
Total liabilities and stockholders' equity $ 1,073,880 $ 398,690