CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 93,286	$ 101,211
Marketable securities	233,552	318,787
Collaboration receivable	1,196	3,680
Prepaid expenses and other current assets	10,223	16,361
Total current assets	338,257	440,039
Property and equipment, net	8,406	10,928
Restricted cash	3,950	3,950
Right-of-use assets, operating leases	62,122	71,120
Other non-current assets	163	284
Total assets	412,898	526,321
Current liabilities:
Accounts payable	3,166	4,259
Accrued expenses and other current liabilities	15,532	13,343
Income taxes payable	620	667
Operating lease obligations, current portion	4,350	7,559
Deferred revenue, current portion	351	13,654
Total current liabilities	24,019	39,482
Operating lease obligations, net of current portion	48,050	51,648
Deferred revenue, net of current portion	113	6,513
Total liabilities	72,182	97,643
Commitments and contingencies (Note 11)
Stockholders’ equity:
Common stock, par value $0.0001; 150,000,000 shares authorized; 38,219,232 shares issued and outstanding as of September 30, 2025; and 37,585,944 shares issued and 37,574,538 shares outstanding as of December 31, 2024	4	4
Additional paid‑in capital	574,021	558,061
Accumulated other comprehensive income (loss)	621	(43)
Accumulated deficit	(233,930)	(129,344)
Total stockholders’ equity	340,716	428,678
Total liabilities and stockholders’ equity	$ 412,898	$ 526,321