Balance Sheet Details (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2024 and December 31, 2023 consisted of the following:

	September 30, 2024		December 31, 2023
	(in thousands)
Interest receivable	$	17,574	$	3,598
Prepaid expenses	10,588		6,159
Purchased equipment deposits	1,497		3,856
Grant receivable	298		9
Other current assets	3,443		2,105
Total	$	33,400	$	15,727

Schedule of Property and Equipment, Net

Property and equipment, net as of September 30, 2024 and December 31, 2023 consisted of the following:

	September 30, 2024		December 31, 2023
	(in thousands)
Furniture and equipment	$	1,608	$	1,608
Computers and computer software	1,001		771
Lab equipment	31,328		25,110
Leasehold improvements	4,059		1,460
Manufacturing equipment	15,390		8,134
Manufacturing facility and equipment construction-in-progress (1)	123,268		51,815
Total property and equipment	176,654		88,898
Less: accumulated depreciation and amortization	(13,411)		(9,272)
Property and equipment, net	$	163,243	$	79,626

___________

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

Schedule of Other Assets, Noncurrent

Other assets as of September 30, 2024 and December 31, 2023 consisted of the following:

	September 30, 2024		December 31, 2023
	(in thousands)
Manufacturing facility construction buildout (1)	$	57,991	$	34,688
Other long-term assets	1,771		2,768
Long-term prepaid assets	284		106
Total	$	60,046	$	37,562

___________

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

Schedule of Accrued Expenses

Accrued expenses as of September 30, 2024 and December 31, 2023 consisted of the following:

	September 30, 2024		December 31, 2023
	(in thousands)
Other research and development	$	25,674	$	30,759
Other accrued expenses	3,955		1,900
Clinical studies	1,124		2,156
Acquired manufacturing rights (1)	—		25,000
Total	$	30,753	$	59,815

___________

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