v3.26.3
Condensed Consolidated Balance Sheets (unaudited) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 88.0 $ 142.9
Marketable securities 470.4 542.5
Accounts receivable 1.8 1.0
Other receivables 3.5 5.4
Prepaid expenses and other current assets 23.9 8.9
Total current assets 587.6 700.7
Property, equipment and leasehold improvements, net 4.6 5.2
Operating lease right-of-use assets 6.8 8.2
Contract and other assets 8.5 3.8
Total assets 607.5 717.9
Current liabilities:    
Accounts payable and accrued liabilities 39.9 69.5
Deferred revenue 0.0 71.3
Current portion of collaboration liability 28.2 0.0
Current portion of operating lease liabilities 1.9 1.7
Total current liabilities 70.0 142.5
Deferred revenue 0.0 134.3
Collaboration liability 18.2 0.0
Long-term debt 0.2 0.4
Operating lease liabilities 5.3 6.8
Total liabilities 93.7 284.0
Commitments and Contingencies (Note 12)
Stockholders’ equity:    
Preferred stock, $0.001 par value, zero shares issued and outstanding as of September 30, 2026 and December 31, 2025, respectively 0.0 0.0
Common stock, $0.001 par value; 75.5 shares issued and 65.5 shares outstanding as of September 30, 2026, and 73.5 shares issued and 63.5 outstanding as of December 31, 2025 0.1 0.1
Accumulated deficit (1,554.5) (1,612.4)
Additional paid-in capital 2,161.8 2,136.9
Accumulated other comprehensive (loss) income (1.7) 1.2
Treasury Stock, at cost (10.0 shares as of September 30, 2026 and December 31, 2025) (91.9) (91.9)
Total stockholders’ equity 513.8 433.9
Total liabilities and stockholders’ equity $ 607.5 $ 717.9