Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 387,878	$ 397,451
Short-term investments	1,359,330	682,776
Prepaid expenses and other current assets	40,777	15,727
Total current assets	1,787,985	1,095,954
Property and equipment, net	198,045	79,626
Operating lease right-of-use assets	72,102	30,997
Long-term investments	1,387,510	162,675
Restricted cash	1,317	1,103
Other assets	64,359	37,562
Total noncurrent assets	1,723,333	311,963
Total assets	3,511,318	1,407,917
Current liabilities:
Accounts payable	48,452	14,587
Accrued compensation	20,555	11,056
Accrued contract manufacturing expenses	36,159	52,767
Accrued expenses	29,123	59,815
Operating lease liabilities — current	5,891	7,113
Total current liabilities	140,180	145,338
Operating lease liabilities — long-term	65,219	22,111
Other liabilities	100	0
Total liabilities	205,499	167,449
Commitments and contingencies (Note 7)
Stockholders' Equity
Preferred stock, $0.001 par value — 10,000,000 authorized at December 31, 2024 and December 31, 2023; no shares issued and outstanding at December 31, 2024 and December 31, 2023	0	0
Common stock, $0.001 par value — 500,000,000 shares authorized at December 31, 2024 and December 31, 2023; 124,893,034 and 95,364,831 shares issued and outstanding at December 31, 2024 and December 31, 2023, respectively	128	98
Additional paid-in capital	4,697,883	2,164,583
Accumulated other comprehensive income (loss)	(3,873)	179
Accumulated deficit	(1,388,319)	(924,392)
Total stockholders' equity	3,305,819	1,240,468
Total liabilities and stockholders' equity	$ 3,511,318	$ 1,407,917