v3.26.1
Condensed Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 70,242 $ 149,099
Short-term investments 448,783 518,141
Accounts receivable, net 9,446 8,804
Inventory 2,485 413
Prepaid expenses and other current assets 28,483 32,206
Total current assets 559,439 708,663
Property and equipment, net 7,586 7,855
Operating lease right-of-use assets 7,038 7,302
Other long-term assets 13,728 14,543
Total assets 587,791 738,363
Current liabilities:    
Accounts payable 2,392 5,017
Accrued expenses and other current liabilities 54,812 61,697
Current operating lease liabilities 1,291 1,277
Current portion of long-term debt 4,217 0
Current portion of contract liabilities 55,481 48,983
Total current liabilities 118,193 116,974
Long-term debt, net of current portion 5,573 9,711
Long-term operating lease liabilities 13,374 9,469
Other long-term liabilities 3,616 3,165
Long-term contract liabilities 398,604 424,909
Total liabilities 539,360 564,228
Stockholders' equity:    
Preferred stock, $0.0001 par value; 10,000 shares authorized; no shares issued and outstanding
Common stock, $0.0001 par value; 200,000 shares authorized; 88,954 and 87,855 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectivel 9 9
Additional paid-in capital 1,365,383 1,347,190
Accumulated other comprehensive income (loss) (1,213) 1,024
Accumulated deficit (1,315,748) (1,174,088)
Total stockholders' equity 48,431 174,135
Total liabilities and stockholders' equity $ 587,791 $ 738,363