v3.26.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 151 $ 222
Marketable securities 479 759
Receivable from collaboration partners 18 11
Prepaid expenses and other current assets 16 15
Total current assets 664 1,007
Long-term marketable securities 64 29
Property and equipment, net 33 40
Other noncurrent assets 57 63
Total assets 818 1,139
Current liabilities:    
Accounts payable ($13 and $24 to a related party) 44 42
Deferred revenue ($6 and $35 to a related party) 14 35
Other current liabilities 141 154
Total current liabilities 199 231
Deferred revenue, noncurrent ($18 and $43 to a related party) 34 43
Long-term debt 102 99
Other noncurrent liabilities 125 135
Commitments
Stockholders’ equity:    
Common stock and additional paid-in capital: $0.0001 par value per share; 400.0 shares authorized; 127.6 shares in 2026 and 125.3 shares in 2025 issued and outstanding 2,192 2,116
Accumulated deficit (1,832) (1,485)
Accumulated other comprehensive loss (2) 0
Total stockholders’ equity 358 631
Total liabilities and stockholders’ equity $ 818 $ 1,139