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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 81,021 $ 70,992
Marketable securities 423,397 682,192
Prepaid expenses and other current assets 17,749 31,825
Collaboration receivable - related party $ 9,134 $ 83,009
Accounts Receivable, after Allowance for Credit Loss, Current, Related Party [Extensible Enumeration] Related Party [Member] Related Party [Member]
Restricted cash $ 0 $ 1,332
Total current assets 531,301 869,350
Property and equipment, net 890 1,921
Restricted cash 1,450 0
Right-of-use operating asset 10,753 4,458
Other long-term assets 2,828 6,548
Total assets 547,222 882,277
Current liabilities:    
Accounts payable 12,699 10,318
Accrued expenses 57,598 67,264
Operating lease liability, current portion 1,318 5,165
Total current liabilities 71,615 82,747
Operating lease liability, net of current portion 10,518 0
Total liabilities 82,133 82,747
Commitments and contingencies (Note 6)
Stockholders’ equity:    
Preferred stock, $0.0001 par value per share; 5,000,000 shares authorized at December 31, 2024 and 2023; no shares issued or outstanding at December 31, 2024 and 2023
Common stock, $0.0001 par value per share; 120,000,000 shares authorized at December 31, 2024 and 2023; 61,359,242 and 60,046,676 shares issued at December 31, 2024 and 2023, respectively; 61,356,209 and 60,043,643 shares outstanding at December 31, 2024 and 2023, respectively 6 6
Treasury stock, at cost, 3,033 shares at December 31, 2024 and 2023 (400) (400)
Additional paid-in capital 3,435,564 3,370,397
Accumulated deficit (2,970,325) (2,569,659)
Accumulated other comprehensive income (loss) 244 (814)
Total stockholders’ equity 465,089 799,530
Total liabilities and stockholders’ equity $ 547,222 $ 882,277