Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 235,184	$ 298,257
Marketable securities	1,620,101	1,605,569
Accounts receivable	0	25,000
Prepaid expenses and other current assets	12,326	8,306
Total current assets	1,867,611	1,937,132
Property and equipment, net	129,426	134,093
Restricted cash	8,006	11,519
Operating lease assets	140,277	143,461
Other non-current assets	20,782	15,829
Total assets	2,166,102	2,242,034
Current liabilities:
Accounts payable	13,064	14,709
Accrued expenses	84,615	41,072
Deferred revenue, current	3,021	3,845
Accrued tax liabilities	1,241	451
Operating lease liabilities	17,506	17,288
Other current liabilities	0	10,417
Total current liabilities	119,447	87,782
Deferred revenue, non-current	12,323	12,323
Operating lease liabilities, net of current portion	201,852	206,405
Other non-current liabilities	3,320	3,444
Total liabilities	336,942	309,954
Commitments and contingencies, see Note 7
Shareholders’ equity:
Common shares, CHF 0.03 nominal value, 132,477,166 shares authorized at March 31, 2025 and at December 31, 2024, 86,531,240 and 85,912,297 shares issued at March 31, 2025 and December 31, 2024, respectively, 86,360,924 and 85,741,981 shares outstanding at March 31, 2025 and December 31, 2024, respectively	2,721	2,698
Treasury shares, at cost, 170,316 shares at March 31, 2025 and at December 31, 2024	(62)	(62)
Additional paid-in capital	3,324,314	3,293,556
Accumulated deficit	(1,501,948)	(1,365,952)
Accumulated other comprehensive income	4,135	1,840
Total shareholders' equity	1,829,160	1,932,080
Total liabilities and shareholders’ equity	$ 2,166,102	$ 2,242,034