Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 306,744	$ 387,878
Short-term investments	1,354,683	1,359,330
Prepaid expenses and other current assets	54,348	40,777
Total current assets	1,715,775	1,787,985
Property and equipment, net	242,266	198,045
Operating lease right-of-use assets	85,649	72,102
Long-term investments	1,165,091	1,387,510
Restricted cash	1,319	1,317
Other assets	95,263	64,359
Total noncurrent assets	1,589,588	1,723,333
Total assets	3,305,363	3,511,318
Current liabilities:
Accounts payable	31,414	48,452
Accrued compensation	10,830	20,555
Accrued contract manufacturing expenses	73,726	36,159
Accrued expenses	32,214	29,123
Operating lease liabilities — current	6,302	5,891
Total current liabilities	154,486	140,180
Operating lease liabilities — long-term	79,543	65,319
Total liabilities	234,029	205,499
Commitments and contingencies (Note 6)
Stockholders' Equity
Preferred stock, $0.001 par value — 10,000,000 shares authorized at June 30, 2025 and December 31, 2024; no shares issued and outstanding at June 30, 2025 and December 31, 2024	0	0
Common stock, $0.001 par value — 500,000,000 shares authorized at June 30, 2025 and December 31, 2024; 129,816,472 and 124,893,034 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	133	128
Additional paid-in capital	4,768,698	4,697,883
Accumulated other comprehensive loss	(1,887)	(3,873)
Accumulated deficit	(1,695,610)	(1,388,319)
Total stockholders' equity	3,071,334	3,305,819
Total liabilities and stockholders' equity	$ 3,305,363	$ 3,511,318