v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities:    
Net loss $ (144,109,000) $ (115,132,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 3,223,000 3,754,000
Loss from disposal of property and equipment 602,000 1,160,000
Right-of-use asset impairment expense 0 5,440,000
Amortization (accretion) of premium (discount) on marketable securities 115,000 (864,000)
Stock-based compensation expense 16,196,000 11,581,000
Non-cash lease expense 2,663,000 2,349,000
Change in fair value of contingent consideration and warrant liability 12,220,000 (4,386,000)
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (2,495,000) (1,123,000)
Other non-current assets (854,000) 5,057,000
Accounts payable 338,000 313,000
Lease liabilities (3,780,000) (3,014,000)
Accrued expenses and other current liabilities (1,204,000) (9,274,000)
Net cash used in operating activities (117,085,000) (104,139,000)
Cash flows from investing activities:    
Maturities of marketable securities 113,675,000 70,950,000
Purchases of marketable securities (246,489,000) (185,772,000)
Proceeds from sale of property and equipment 302,000 357,000
Purchases of property and equipment (838,000) (1,004,000)
Net cash used in investing activities (133,350,000) (115,469,000)
Cash flows from financing activities:    
Proceeds from the exercise of common stock options 1,389,000 261,000
Proceeds from the exercise of common stock warrants 0 72,000
Principal payments on finance leases (117,000) (107,000)
Proceeds from the issuance of common stock upon IPO, net of offering costs 288,194,000 0
Proceeds from the issuance of convertible preferred stock, net of issuance costs 0 209,479,000
Net cash provided by financing activities 289,466,000 209,705,000
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 166,000 291,000
Increase (decrease) in cash, cash equivalents and restricted cash 39,197,000 (9,612,000)
Cash, cash equivalents and restricted cash, beginning of period 44,897,000 62,346,000
Cash, cash equivalents and restricted cash, end of period 84,094,000 52,734,000
Cash and cash equivalents, end of period 80,641,000 49,524,000
Restricted cash, included in other non-current assets, end of period 3,453,000 3,210,000
Total cash, cash equivalents and restricted cash, end of period 84,094,000 52,734,000
Supplemental cash flow information:    
Cash paid for income taxes 251,000 164,000
Cash paid for interest 42,000 5,000
Supplemental disclosure of non-cash financing and investing activities:    
Offering costs included in accounts payable and accrued expenses and other current liabilities 20,000 0
Right-of-use assets obtained in exchange for new finance lease liabilities 278,000 0
Conversion of preferred stock and preferred stock warrants into common stock and common stock warrants, upon initial public offering 703,630,000 0
Conversion of preferred stock into common stock 0 7,366,000
Property and Equipment in accounts payable and accrued expenses and other current liabilities 179,000 0
Unrealized loss on marketable securities $ 1,221,000 $ 153,000