v3.26.3
Condensed Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 98,482 $ 104,901
Marketable securities 363,235 231,074
Prepaid expenses and other current assets 16,008 12,542
Restricted cash, current 400 400
Total current assets 478,125 348,917
Property and equipment, net 128,555 142,898
Operating lease right-of-use assets, net 91,175 90,965
Restricted cash, non-current 7,883 7,771
Other non-current assets 463 4,183
Total assets 706,201 594,734
Current liabilities:    
Accounts payable 6,119 681
Accrued expenses and other current liabilities 51,242 44,298
Operating lease liability, current 8,912 10,028
Total current liabilities 66,273 55,007
Operating lease liability, non-current 240,635 247,291
Other non-current liabilities 15,000 10,000
Total liabilities 321,908 312,298
Commitments and contingencies (see Note 7)
Redeemable convertible preferred stock, $0.0001 par value; no shares authorized, issued and outstanding as of September 30, 2026 and 262,597,889 shares authorized, 222,658,133 shares issued and outstanding, and aggregate liquidation preference of $1,159,762 as of December 31, 2025 0 1,161,470
Stockholders' equity (deficit):    
Preferred stock, $0.0001 par value; 50,000,000 shares authorized and no shares issued and outstanding as of September 30, 2026 and no shares authorized, issued and outstanding as of December 31, 2025 0 0
Common stock, $0.0001 par value; 500,000,000 shares authorized and 54,181,872 shares issued and outstanding as of September 30, 2026 and 340,650,000 shares authorized and 3,068,490 shares issued and outstanding as of December 31, 2025 5 0
Additional paid-in capital 1,562,276 41,475
Accumulated deficit (1,177,988) (920,509)
Total stockholders' equity (deficit) 384,293 (879,034)
Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit) $ 706,201 $ 594,734