CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 373,374	$ 357,011
Marketable securities (Note 4)	597,840	491,265
Prepaid expenses and other current assets	27,378	22,938
Total current assets	998,592	871,214
Marketable securities, non-current (Note 4)	674,669	771,158
Property and equipment, net (Note 6)	38,242	43,175
Right-of-use assets, operating leases	40,444	42,351
Other non-current assets	9,113	9,114
Restricted cash	6,209	5,800
Total assets	1,767,269	1,742,812
Current liabilities:
Accounts payable	11,923	4,015
Accrued expenses (Note 8)	63,315	42,274
Deferred revenue	0	22,925
Operating lease liabilities	12,209	11,941
Finance lease liabilities	1,371	1,815
Other current liabilities	905	242
Total current liabilities	89,723	83,212
Non-current liabilities
Deferred revenue, net of current portion	0	11,440
Operating lease liabilities, net of current portion	62,417	67,034
Finance lease liabilities, net of current portion	602	1,462
Total liabilities	152,742	163,148
Stockholders’ equity:
Preferred stock, $0.0001 par value; 10,000,000 shares authorized as of September 30, 2026 and December 31, 2025; 0 shares issued and outstanding as of September 30, 2026 and December 31, 2025	0	0
Common stock, $0.0001 par value; 150,000,000 shares authorized at September 30, 2026 and December 31, 2025, 85,325,503 and 81,323,532 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively	9	8
Additional paid-in capital	2,957,658	2,643,817
Accumulated deficit	(1,328,405)	(1,065,961)
Accumulated other comprehensive (loss) income	(14,735)	1,800
Total stockholders’ equity	1,614,527	1,579,664
Total liabilities and stockholders’ equity	$ 1,767,269	$ 1,742,812

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Balance Type:	credit
Period Type:	instant

- Definition

Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).