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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets    
Cash and cash equivalents $ 130,104 $ 57,526
Marketable securities 137,765 177,161
Accounts receivable 18,192 20,473
Prepaid expenses 11,094 9,067
Other current assets 16,082 13,774
Total current assets 313,237 278,001
Marketable securities 4,858 10,179
Accounts receivable 1,208 474
Property and equipment, net 114,497 117,589
Operating lease right-of-use assets 52,112 53,716
Restricted cash 2,030 2,030
Other assets 2,987 4,000
Total assets 490,929 465,989
Current liabilities    
Accounts payable 19,044 22,798
Accrued expenses and other current liabilities 23,597 38,070
Deferred revenue 13,588 115
Operating lease liabilities 7,942 7,902
Liability related to sale of future royalties 42,560 34,309
Total current liabilities 106,731 103,194
Deferred revenue 26,297  
Operating lease liabilities 71,906 74,131
Liability related to sale of future royalties 11,118 25,378
Other liabilities 680 3,635
Total liabilities 216,732 206,338
Stockholders’ equity    
Preferred stock; $0.0001 par value; 10,000 shares authorized, no shares issued and outstanding at March 31, 2025 and December 31, 2024
Common stock; $0.0001 par value; 100,000 shares authorized at March 31, 2025 and December 31, 2024; 50,117 and 49,549 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively 5 5
Additional paid-in capital 1,201,020 1,192,536
Accumulated other comprehensive loss (762) (741)
Accumulated deficit (926,066) (932,149)
Total stockholders’ equity 274,197 259,651
Total liabilities and stockholders’ equity $ 490,929 $ 465,989