v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
OPERATING ACTIVITIES:    
Net loss $ (90,444) $ (185,341)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation 7,599 9,697
Stock-based compensation expense 16,329 19,127
Change in the estimated fair value of contingent consideration (28,361) 6,173
Change in the estimated fair value of success payment liabilities (2,672) 9,170
Non-cash expense for operating lease right-of-use assets 8,021 6,780
Impairment of long-lived assets 0 44,611
Other non-cash items, net (7,748) (7,876)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 1,118 1,861
Operating lease right-of-use assets and liabilities (8,335) (1,539)
Accounts payable 154 (3,356)
Accrued expenses and other liabilities (4,582) (10,494)
Net cash used in operating activities (108,921) (111,187)
INVESTING ACTIVITIES:    
Purchases of marketable securities (123,374) (51,209)
Proceeds from maturities of marketable securities 110,025 26,761
Purchases of property and equipment (2,700) (65)
Proceeds from disposal of assets 316 771
Net cash used in investing activities (15,733) (23,742)
FINANCING ACTIVITIES:    
Proceeds from employee stock purchase plan and exercise of stock options 421 1,617
Proceeds related to common stock financings, net 89,622 109,724
Proceeds from issuance of common stock allocated to stock purchase option 3,688 0
Principal payments, net for tenant improvement loan (277) (258)
Net cash provided by financing activities 93,454 111,083
Net decrease in cash, cash equivalents, and restricted cash (31,200) (23,846)
Cash, cash equivalents, and restricted cash at beginning of period 76,065 131,398
Cash, cash equivalents, and restricted cash at end of period 44,865 107,552
SUPPLEMENTAL CASH FLOW INFORMATION:    
Operating lease right-of-use assets obtained in exchange for lease obligations 2,056 0
Cash received for tenant improvement allowances 0 891
Derecognition of operating lease right-of-use assets for lease modification $ (12,018) $ (2,724)