CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (156,693)	$ (140,463)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	0	6
Accretion of investments	(6,810)	(7,470)
Non-cash operating lease expense	393	486
Stock-based compensation	24,167	18,795
Amortization of debt issuance costs	167	0
Changes in operating assets and liabilities:
Accounts receivable	(11,852)	0
Inventory	(17,107)	0
Prepaid expenses and other assets	(4,778)	(890)
Collaboration (payable) receivable, net	(31,547)	(4,129)
Other receivable	6	(9,582)
Accounts payable	5,727	1,607
Accrued expenses and other liabilities	15,370	(13,553)
Net cash used in operating activities	(182,957)	(155,193)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of short and long-term investments	(102,251)	(167,385)
Proceeds from sales and maturities of short-term investments	238,280	129,736
Net cash provided by (used in) investing activities	136,029	(37,649)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from Employee Stock Purchase Plan	1,013	546
Proceeds from stock option exercises	468	2,298
Net cash provided by financing activities	1,481	2,844
NET DECREASE CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(45,447)	(189,998)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—beginning of period	154,300	295,611
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —end of period	$ 108,853	$ 105,613