Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Operating activities:
Net loss	$ (344,545)	$ (242,999)
Reconciliation of net loss to net cash used in operating activities:
Depreciation and amortization	9,385	9,678
Equity-based compensation	37,819	43,077
Other non-cash items, net	(5,075)	(16,566)
Acquired in-process research and development	96,253	0
Changes in:
Accounts receivable	25,000	200,000
Prepaid expenses and other assets	(727)	5,297
Accounts payable and accrued expenses	28,298	18,724
Deferred revenue	(1,716)	(775)
Operating lease assets and liabilities	(2,421)	(1,874)
Other liabilities, net	(10,098)	(392)
Net cash (used in) provided by operating activities	(167,827)	14,170
Investing activities:
Purchase of property, plant and equipment	(323)	(1,428)
Purchase of in-process research and development	(25,000)	0
Investment in equity securities	(9,700)	(12,885)
Purchases of marketable securities	(411,111)	(797,509)
Maturities of marketable securities	496,356	587,117
Net cash provided by (used in) investing activities	50,222	(224,705)
Financing activities:
Proceeds from issuance of common shares, net of issuance costs	8,494	279,733
Proceeds from exercise of options and ESPP contributions, net of issuance costs	4,352	25,735
Net cash provided by financing activities	12,846	305,468
Effect of exchange rate changes on cash	121	(9)
(Decrease) increase in cash	(104,638)	94,924
Cash, cash equivalents and restricted cash, beginning of period	309,776	401,068
Cash, cash equivalents and restricted cash, end of period	205,138	495,992
Supplemental disclosure of non-cash investing and financing activities
Equity issuance costs in accounts payable, accrued expenses, and other long-term liabilities	3,899	3,029
Acquired in-process research and development expense related to issuance of common shares	$ 71,253	$ 0