v3.26.3
Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets    
Cash and cash equivalents $ 95,795 $ 34,466
Marketable securities 155,181 195,604
Accounts receivable 8,536 26,379
Prepaid expenses 13,009 11,927
Restricted cash 225  
Other current assets 48,146 12,905
Total current assets 320,892 281,281
Marketable securities   10,785
Accounts receivable 450 2,312
Property and equipment, net 95,347 104,855
Operating lease right-of-use assets 42,246 47,156
Restricted cash 1,805 2,030
Other assets 5,300 4,613
Total assets 466,040 453,032
Current liabilities    
Accounts payable 13,482 21,358
Accrued expenses and other current liabilities 29,611 38,390
Deferred revenue 5,985 10,452
Operating lease liabilities 6,492 8,286
Royalty monetization liabilities 12,114 39,609
Total current liabilities 67,684 118,095
Deferred revenue 16,221 18,943
Operating lease liabilities 60,054 65,215
Royalty monetization liabilities 173,564 147,408
Other liabilities 475 638
Total liabilities 317,998 350,299
Stockholders’ equity    
Preferred stock; $0.0001 par value; 10,000 shares authorized, no shares issued and outstanding at September 30, 2026 and December 31, 2025
Common stock; $0.0001 par value; 100,000 shares authorized at September 30, 2026 and December 31, 2025; 66,119 and 50,892 shares issued and outstanding at September 30, 2026 and December 31, 2025, respectively 7 5
Additional paid-in capital 1,383,187 1,229,442
Accumulated other comprehensive loss (1,045) (687)
Accumulated deficit (1,234,107) (1,126,027)
Total stockholders’ equity 148,042 102,733
Total liabilities and stockholders’ equity $ 466,040 $ 453,032