v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 63,706 $ 89,670
Restricted cash   82
Marketable securities, current 438,587 218,831
Research and development prepaid expenses 4,388 2,909
Other prepaid expenses and current assets 7,403 6,740
Total current assets 514,084 318,232
Restricted cash, non-current 1,388 1,301
Property and equipment, net 16,847 18,190
Intangible assets 9,135 50,959
Operating lease right-of-use assets, net 17,270 16,971
Other assets, non-current 1,894 6,287
Total assets 560,618 411,940
Current liabilities:    
Accounts payable 12,800 10,106
Research and development accrued expenses 35,572 34,781
Other accrued expenses and current liabilities 16,370 22,303
Deferred revenue, current 6,669 1,458
Operating lease liabilities, current 4,822 4,670
Total current liabilities 76,233 73,318
Operating lease liabilities, non-current 31,605 32,244
Deferred tax liability 383 2,140
Share repurchase liability 71 123
Deferred revenue, non-current   2,611
Other liabilities, non-current 168 207
Total liabilities 108,460 110,643
Commitments and contingencies (Note 10)
Stockholders' equity:    
Preferred stock, $0.0001 par value; 50,000,000 shares authorized, zero shares issued and outstanding as of June 30, 2026 and December 31, 2025
Additional paid-in capital 1,589,979 1,202,975
Accumulated other comprehensive income (loss) (683) 188
Accumulated deficit (1,137,150) (901,876)
Total stockholders' equity 452,158 301,297
Total liabilities and stockholders' equity 560,618 411,940
Voting common stock    
Stockholders' equity:    
Common Stock $ 12 9
Non-voting common stock    
Stockholders' equity:    
Common Stock   $ 1