CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 64,495	$ 2,859
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation expense	2,781	2,105
Stock‑based compensation expense	13,215	9,270
Amortization/(accretion) of marketable securities	(7,511)	(3,780)
Changes in operating assets and liabilities:
Collaboration receivable	3,275	(5,025)
Prepaid expenses and other current assets	(1,464)	(3,894)
Right-of-use assets, operating leases	7,717	11,146
Other non-current assets	2,044	(11,754)
Accounts payable	(1,855)	(5,211)
Accrued expenses and other current liabilities	2,133	1,857
Income tax payable	(1,773)	0
Operating lease liabilities	(6,916)	(12,703)
Deferred revenue	(86,093)	158,946
Net cash (used in) provided by operating activities	(9,952)	143,816
Cash flows from investing activities:
Purchases of property and equipment	(2,523)	(4,638)
Purchases of marketable securities	(373,220)	(318,686)
Maturities of marketable securities	294,580	165,886
Net cash (used in) investing activities	(81,163)	(157,438)
Cash flows from financing activities:
Proceeds from exercise of stock options	1,691	754
Proceeds from issuance of common stock under the employee stock purchase plan	263	186
Net cash provided by financing activities	101,562	20,347
Net increase in cash, cash equivalents, and restricted cash	10,447	6,725
Cash, cash equivalents, and restricted cash at beginning of period	71,552	49,107
Cash, cash equivalents, and restricted cash at end of period	81,999	55,832
Supplemental cash flow disclosures:
Purchases of property and equipment included in accounts payable and accrued expenses	60	299
Right-of-use assets obtained in exchange from operating lease liabilities	0	77,584
Right-of-use assets surrendered as part of lease modification	0	7,761
Transfer of deposits for equipment from operating to investing cash flows	0	617
Vesting of options early exercised subject to repurchase	38	72
Registered Direct Offering
Cash flows from financing activities:
Proceeds from issuance of common stock	99,608	0
Vertex Agreement
Cash flows from financing activities:
Proceeds from issuance of common stock	$ 0	$ 19,407