v3.26.1
Condensed Consolidated Balance Sheets (unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 1,087,060,000 $ 27,711,000
Marketable securities 33,637,000 0
Prepaid expenses and other current assets 4,699,000 1,647,000
Total current assets 1,125,396,000 29,358,000
Property and equipment, net 6,718,000 6,715,000
Restricted cash 2,855,000 2,855,000
Operating lease right-of-use assets 36,007,000 39,360,000
Other assets 4,286,000 2,532,000
Total assets 1,175,262,000 80,820,000
Current liabilities:    
Accounts payable 18,525,000 17,272,000
Accrued expenses and other current liabilities 19,972,000 18,630,000
Operating lease liabilities, current portion 7,592,000 7,174,000
Deferred revenue, current portion 10,371,000 0
Finance lease liabilities, current portion 669,000 638,000
Term loan, net of discount 5,710,000 13,077,000
Total current liabilities 62,839,000 56,791,000
Operating lease liabilities, net of current portion 32,413,000 36,341,000
Finance lease liabilities, net of current portion 1,128,000 1,470,000
Deferred revenue, net of current portion 31,148,000 0
Other liabilities 0 2,742,000
Total liabilities 127,528,000 97,344,000
Commitments and Contingencies
Preferred stock 0 0
Common stock 12,000 0
Non-Voting Common Stock, Value 0 0
Additional Paid in Capital 1,687,023,000 15,009,000
Accumulated other comprehensive loss (18,000) 0
Accumulated deficit (639,283,000) (541,504,000)
Total stockholders' equity (deficit) 1,047,734,000 (526,495,000)
Total liabilities, convertible preferred stock and stockolders ' equity (deficit) 1,175,262,000 80,820,000
Convertible Preferred Stock [Member]    
Current liabilities:    
Convertible preferred stock $ 0 $ 509,971,000