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	$ (461,203)	$ (249,236)
Adjustments to reconcile net loss to net cash used in operating activities:
Loss on disposal of fixed assets	0	116
Amortization of intangible assets	534	534
Stock-based compensation expense	53,914	35,983
Depreciation and amortization	3,450	3,182
Change in fair value of warrant liabilities and contingent earn-out shares	2,139	(5,812)
Non-cash interest expense on liability related to sale of future royalties	866	0
Net amortization of premium or discount on marketable securities	(17,560)	(26,146)
Amortization of operating lease right-of-use asset	3,534	1,844
Impairment of assets	0	2,761
Changes in operating assets and liabilities:
Accounts receivable	0	1,254
Prepaid expenses and other current assets	(935)	(8,943)
Accounts payable	491	(33,040)
Accrued expenses and other current liabilities	12,369	(6,594)
Operating lease liability	(3,056)	(533)
Other noncurrent assets	(16,508)	(4,002)
Other noncurrent liabilities	5,773	(95)
Net cash used in operating activities	(416,192)	(288,727)
Cash flows from investing activities
Purchases of marketable securities	(1,039,327)	(1,076,536)
Maturities of marketable securities	1,061,986	942,080
Sales of marketable securities	6,384	0
Purchases of property and equipment	(10,716)	(5,566)
Net cash provided by (used in) investing activities	18,327	(140,022)
Cash flows from financing activities
Proceeds from issuance of common stock under equity incentive plans	2,828	5,150
Proceeds from issuance of common stock related to employee stock purchase plan	4,644	3,164
Proceeds from the sale of future royalties	250,000	0
Exercise of warrants	1	0
Deferred offering costs	(16)	0
Net cash provided by financing activities	257,457	8,314
Net decrease in cash, cash equivalents and restricted cash	(140,408)	(420,435)
Cash, cash equivalents and restricted cash - beginning of period	546,762	699,179
Cash, cash equivalents and restricted cash - end of period	406,354	278,744
Reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets
Cash and cash equivalents	402,438	275,713
Restricted cash	3,916	3,031
Cash, cash equivalents and restricted cash - end of period	406,354	278,744
Supplemental disclosure of non-cash investing and financing activities
Purchases of property and equipment in accounts payable and accrued expenses and other current liabilities	2,907	2,762
Unpaid issuance costs on the liability related to the sale of future royalties	$ 5,785	$ 0