v3.26.3
Condensed Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating Activities    
Net loss $ (257,479,000) $ (244,593,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation expense 15,373,000 13,478,000
Stock-based compensation expense 10,743,000 14,175,000
Amortization of premiums and accretion of discounts on marketable securities (1,246,000) (4,676,000)
Amortization of operating lease right-of-use assets (210,000) 5,593,000
Impairment of operating lease right-of-use assets   10,275,000
Impairment of property and equipment 0 10,740,000
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets (3,466,000) (6,863,000)
Other assets 2,793,000 (42,000)
Accounts payable 5,438,000 (268,000)
Accrued expenses and other current liabilities 6,876,000 2,601,000
Operating lease liabilities (7,772,000) 48,100,000
Other liabilities 5,000,000 4,688,000
Net cash used in operating activities (223,950,000) (146,792,000)
Investing Activities    
Purchase of property and equipment (932,000) (46,675,000)
Purchase of marketable securities (436,415,000) (390,128,000)
Proceeds from maturities of marketable securities 305,500,000 214,750,000
Net cash used in investing activities (131,847,000) (222,053,000)
Financing Activities    
Proceeds from issuance of common stock under stock plans 459,000 811,000
Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs   350,153,000
Proceeds from initial public offering, net of issuance costs 349,031,000  
Net cash provided by financing activities 349,490,000 350,964,000
Net decrease in cash, cash equivalents and restricted cash (6,307,000) (17,881,000)
Cash, cash equivalents and restricted cash at beginning of period 113,072,000 130,878,000
Cash, cash equivalents and restricted cash at end of period 106,765,000 112,997,000
Cash, cash equivalents and restricted cash at end of period    
Cash and cash equivalents 98,482,000 104,868,000
Restricted cash 8,283,000 8,129,000
Cash, cash equivalents and restricted cash at end of period 106,765,000 112,997,000
Supplemental disclosure of cash flow information    
Cash paid for interest 11,000 885,000
Cash paid for operating lease liabilities 31,457,000 11,536,000
Supplemental disclosure of non-cash financing and investing activities:    
Purchases of property and equipment included in accounts payable and accrued expenses 197,000 56,000
Vesting of early exercised stock options and restricted common stock $ 35,000 272,000
Operating lease liabilities arising from obtaining right-of-use assets   $ (9,830,000)