Balance Sheet Details (Tables)

3 Months Ended

Mar. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets as of March 31, 2024 and December 31, 2023 consisted of the following:

	March 31, 2024		December 31, 2023
	(in thousands)
Interest receivable	$	8,018	$	3,598
Prepaid expenses	7,774		6,159
VAT on purchases	7,864		—
Purchased equipment deposits	4,679		3,856
Grant receivable	127		9
Other current assets	2,092		2,105
Total	$	30,554	$	15,727

Schedule of Property and Equipment, Net

Property and equipment, net as of March 31, 2024 and December 31, 2023 consisted of the following:

	March 31, 2024		December 31, 2023
	(in thousands)
Furniture and equipment	$	1,610	$	1,608
Computers and computer software	849		771
Lab equipment	21,766		25,110
Leasehold improvements	2,074		1,460
Manufacturing equipment and auxiliary	10,598		8,134
Manufacturing facility and equipment construction-in-progress (1)	58,209		51,815
Total property and equipment	95,106		88,898
Less: accumulated depreciation and amortization	(10,271)		(9,272)
Property and equipment, net	$	84,835	$	79,626

___________

(1) See Note 4, “Commercial Manufacturing and Supply Agreement,” for further details.

Schedule of Other Assets, Noncurrent

Other assets as of March 31, 2024 and December 31, 2023 consisted of the following:

	March 31, 2024		December 31, 2023
	(in thousands)
Manufacturing facility construction buildout (1)	$	43,575	$	34,688
Long-term prepaid assets	2,472		2,768
Other long-term assets	96		106
Total	$	46,143	$	37,562

___________

(1) See Note 4, “Commercial Manufacturing and Supply Agreement,” for further details.

Schedule of Accrued Expenses

Accrued expenses as of March 31, 2024 and December 31, 2023 consisted of the following:

	March 31, 2024		December 31, 2023
	(in thousands)
Clinical studies	$	3,054	$	2,156
Other research and development	14,185		30,759
Acquired manufacturing rights (1)	25,000		25,000
Other accrued expenses	11,932		1,900
Total	$	54,171	$	59,815

___________

(1) See Note 7, “Commitments and Contingencies, Sutro Option Agreement,” for further details.