v3.26.3
CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Aug. 31, 2026
Aug. 31, 2025
Cash flows from operating activities    
Net income (loss) $ 373,098 $ (186,236)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 6,590 6,620
Stock-based compensation 31,569 28,879
Net accretion of discount on marketable securities (4,475) (8,455)
Loss on disposal of property and equipment 160 0
Amortization of operating lease right-of-use assets 4,651 7,605
Changes in operating assets and liabilities:    
Accounts receivable (20,000) 0
Prepaid expenses and other assets (12,013) (4,945)
Accounts payable 22,022 (3,655)
Deferred revenue (8,203) (23,403)
Operating lease liabilities (1,161) (4,311)
Deferred collaboration funding 45,609 0
Accrued expenses and other current liabilities 9,297 6,268
Net cash provided by (used in) operating activities 447,144 (181,633)
Cash flows from investing activities    
Purchases of marketable securities (430,005) (281,350)
Maturities of marketable securities 435,130 437,728
Purchases of property and equipment (4,373) (8,871)
Net cash provided by investing activities 752 147,507
Cash flows from financing activities    
Proceeds from exercise of stock options 4,461 405
Proceeds from issuance of common stock under employee stock purchase plan 2,735 2,229
Proceeds from issuances of common stock in “at the market” financing, net of issuance costs 18,004 0
Net cash provided by financing activities 25,200 2,634
Net increase (decrease) in cash, cash equivalents and restricted cash 473,096 (31,492)
Cash, cash equivalents and restricted cash at beginning of period 247,928 110,898
Cash, cash equivalents and restricted cash at end of period 721,024 79,406
Supplemental disclosures of non-cash investing and financing activities:    
Additions to property and equipment included in accounts payable and accrued expenses and other current liabilities 455 2,120
Right-of-use assets recognized in exchange for lease obligations 2,765 32,494
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 720,242 78,438
Restricted cash 782 968
Total cash, cash equivalents and restricted cash $ 721,024 $ 79,406