Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 298,257	$ 389,477
Marketable securities	1,605,569	1,304,215
Accounts receivable	25,000	200,000
Prepaid expenses and other current assets	8,306	14,386
Total current assets	1,937,132	1,908,078
Property and equipment, net	134,093	151,945
Marketable securities, non-current	0	1,973
Intangible assets, net	0	16
Restricted cash	11,519	11,591
Operating lease assets	143,461	153,993
Other non-current assets	15,829	1,975
Total assets	2,242,034	2,229,571
Current liabilities:
Accounts payable	14,709	38,147
Accrued expenses	41,072	45,335
Deferred revenue, current	3,845	4,105
Accrued tax liabilities	451	438
Operating lease liabilities	17,288	15,625
Other current liabilities	10,417	5,141
Total current liabilities	87,782	108,791
Deferred revenue, non-current	12,323	14,012
Operating lease liabilities, net of current portion	206,405	223,007
Other non-current liabilities	3,444	958
Total liabilities	309,954	346,768
Commitments and contingencies (Note 9)
Shareholders’ equity:
Common shares, CHF 0.03 nominal value, 132,477,166 and 126,536,183 shares authorized at December 31, 2024 and December 31, 2023, respectively, 85,912,297 and 80,214,694 shares issued at December 31, 2024 and December 31, 2023, respectively, 85,741,981 and 80,044,378 shares outstanding at December 31, 2024 and December 31, 2023, respectively	2,698	2,497
Treasury shares, at cost, 170,316 shares at December 31, 2024 and at December 31, 2023	(62)	(62)
Additional paid-in capital	3,293,556	2,878,155
Accumulated deficit	(1,365,952)	(999,700)
Accumulated other comprehensive income	1,840	1,913
Total shareholders’ equity	1,932,080	1,882,803
Total liabilities and shareholders’ equity	$ 2,242,034	$ 2,229,571