v3.26.3
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Millions
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net (loss) income $ 57.9 $ (13.4)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 2.0 2.3
Net accretion of bond discounts/premiums (4.9) (10.4)
Amortization of right-of-use assets 1.4 1.7
Amortization of collaboration contract asset 3.5 4.1
Stock-based compensation 23.9 35.5
Changes in operating assets and liabilities:    
Accounts receivable (0.8) (14.6)
Other receivables 1.9 1.5
Prepaid expenses and other assets (0.1) 2.3
Contract assets (22.6) 0.0
Accounts payable and accrued liabilities (29.5) (17.7)
Operating lease liability (1.3) (1.6)
Deferred revenue (205.6) (233.1)
Collaboration liability 46.3 0.0
Net cash used in operating activities (127.9) (243.4)
Cash flows from investing activities:    
Purchases of marketable securities (352.5) (347.6)
Maturities of marketable securities 397.7 611.1
Sales of marketable securities 28.9 0.0
Purchases of property, equipment and leasehold improvements (1.3) (1.7)
Net cash provided by investing activities 72.8 261.8
Cash flows from financing activities:    
Repayments of long-term debt (0.2) (0.1)
Repurchase of common shares 0.0 (17.8)
Proceeds from exercise of stock options and issuance of ESPP shares 0.9 0.5
Net cash provided by (used in) financing activities 0.7 (17.4)
Net (decrease) increase in cash, cash equivalents and restricted cash (54.4) 1.0
Cash, cash equivalents and restricted cash, beginning of the period 142.9 100.5
Cash, cash equivalents and restricted cash, end of the period 88.5 101.5
Supplemental disclosure of cash flow information:    
Repurchases of common shares unpaid at period end 0.0 2.5
Cash paid for taxes $ 0.4 $ 0.3