v3.26.3
Condensed consolidated balance sheets (unaudited) - USD ($)
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 106,537,000 $ 160,267,000
Marketable securities 794,917,000 385,789,000
Prepaid expenses and other current assets 18,302,000 11,481,000
Total current assets 919,756,000 557,537,000
Property and equipment, net 1,652,000 1,955,000
Restricted cash 761,000 761,000
Long-term marketable securities 136,187,000 106,672,000
Non-current clinical deposits 14,129,000 12,185,000
Operating lease right-of-use assets 9,630,000 10,463,000
Other non-current assets 63,000 2,721,000
Total assets 1,082,178,000 692,294,000
Current liabilities:    
Accounts payable 9,434,000 7,529,000
Accrued expenses and other current liabilities 31,590,000 37,836,000
Operating lease liabilities, current 1,092,000 1,040,000
Total current liabilities 42,116,000 46,405,000
Operating lease liabilities, non-current 8,879,000 9,713,000
Other non-current liabilities 67,000 270,000
Total liabilities 51,062,000 56,388,000
Commitments and contingencies (Note 12)
Convertible preferred stock:    
Convertible preferred stock   992,363,123
Stockholders' equity (deficit):    
Preferred stock 0 0
Common stock 0 0
Additional paid-in capital 1,689,358,000 11,981,000
Accumulated other comprehensive (loss) income (3,737,000) 229,000
Accumulated deficit (654,505,000) (368,668,000)
Total stockholders' equity (deficit) 1,031,116,000 (356,458,000)
Total liabilities, convertible preferred stock and stockholders' equity (deficit) 1,082,178,000 692,294,000
Series A Convertible Preferred Stock [Member]    
Convertible preferred stock:    
Convertible preferred stock 0 390,306,000
Series B Convertible Preferred Stock [Member]    
Convertible preferred stock:    
Convertible preferred stock $ 0 $ 602,057,535