v3.26.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 81,660 $ 165,596
Short-term investments 487,098 248,478
Accounts receivable, net 30,779 15,594
Inventory 108,028 54,895
Prepaid expenses and other current assets 42,534 42,614
Total current assets 750,099 527,177
Property and equipment, net 2,464 1,943
Operating lease right-of-use assets 7,389 9,807
Other long-term assets 10,749 11,307
Intangible asset, net 14,500 15,250
Deferred tax assets 198,042 198,149
Total assets 983,243 763,633
Current liabilities:    
Accounts payable 4,109 2,028
Accrued collaboration expenses 105,821 70,015
Accrued expenses 57,699 42,020
Operating lease liabilities 3,969 2,987
Other current liabilities 20,257 22,134
Total current liabilities 191,855 139,184
Non-current liabilities:    
Non-current deferred revenue 31,811 31,811
Non-current operating lease liabilities 3,915 6,510
Other long-term liabilities 45,469 18,522
Total liabilities 273,050 196,027
Commitments and contingencies (Note 13)
Shareholders' equity:    
Additional paid-in capital 1,079,688 1,029,748
Accumulated other comprehensive loss (2,747) (25)
Accumulated deficit (366,769) (462,138)
Total shareholders' equity 710,193 567,606
Total liabilities and shareholders' equity 983,243 763,633
Class A ordinary shares    
Shareholders' equity:    
Ordinary shares value 12 12
Class B ordinary shares    
Shareholders' equity:    
Ordinary shares value 1 1
Class A1 ordinary shares    
Shareholders' equity:    
Ordinary shares value 4 4
Class B1 ordinary shares    
Shareholders' equity:    
Ordinary shares value $ 4 $ 4