v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net loss $ (283,516) $ (334,945)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 40,802 51,974
Amortization of right-of-use assets and non-cash lease expense 7,728 5,859
Accretion of discounts on marketable securities (11,496) (13,696)
Stock-based compensation expense 74,147 96,117
Write-off of property and equipment 4,607 24,410
Other (462) (2,936)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets and other assets (2,017) 1,120
Accounts payable, accrued liabilities and accrued compensation and benefits 2,110 (9,045)
Operating lease liability (3,517) (3,692)
Other liabilities 295 (1,489)
Net cash used in operating activities (171,319) (186,323)
Investing activities    
Purchases of property and equipment (19,047) (24,001)
Proceeds from maturities of marketable securities 689,168 830,664
Purchases of marketable securities (684,299) (824,858)
Other 669 1,106
Net cash used in investing activities (13,509) (17,089)
Financing activities    
Proceeds from exercise of stock options and employee stock purchase plan 3,715 23,645
Proceeds from issuance of common stock 0 268,654
Common stock issuance costs paid 0 (4,387)
Principal payment for finance lease (2,649) (2,388)
Cash received under collaboration agreement - related party 28,856 0
Net cash provided by financing activities 29,922 285,524
Net (decrease) increase in cash, cash equivalents and restricted cash (154,906) 82,112
Cash, cash equivalents and restricted cash at beginning of period 244,179 158,914
Cash, cash equivalents and restricted cash at end of period 89,273 241,026
Supplemental disclosure:    
Cash paid for interest 1,395 1,547
Purchases of property and equipment, not yet paid $ 3,058 $ 4,862