Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 101.5	$ 100.5
Marketable securities	686.1	938.9
Accounts receivable	20.3	5.7
Other receivables	6.5	8.0
Prepaid expenses and other current assets	11.9	14.2
Total current assets	826.3	1,067.3
Property, equipment and leasehold improvements, net	5.4	7.0
Operating lease right-of-use assets	8.7	9.0
Collaboration contract asset and other assets	3.9	8.1
Total assets	844.3	1,091.4
Current liabilities:
Accounts payable and accrued liabilities	55.5	71.8
Deferred revenue	87.7	156.2
Current portion of operating lease liabilities	1.7	1.8
Total current liabilities	144.9	229.8
Deferred revenue	127.4	292.0
Long-term debt	0.4	0.6
Operating lease liabilities	7.2	7.3
Total liabilities	279.9	529.7
Commitments and Contingencies (Note 13)
Stockholders’ equity:
Preferred stock, $0.001 par value, zero shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively	0.0	0.0
Common stock, $0.001 par value; 73.4 shares issued, 70.8 shares outstanding as of September 30, 2025 and 68.8 shares issued and outstanding as of December 31, 2024	0.1	0.1
Accumulated deficit	(1,545.0)	(1,531.6)
Additional paid-in capital	2,128.2	2,092.2
Accumulated other comprehensive income	1.4	1.0
Treasury Stock, at cost (2.6 and zero shares at September 30, 2025 and December 31, 2024, respectively)	(20.3)	0.0
Total stockholders’ equity	564.4	561.7
Total liabilities and stockholders’ equity	$ 844.3	$ 1,091.4