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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 69,344 $ 249,727
Short-term marketable securities 753,761 654,703
Accounts receivable, net 20,345 18,295
Supplies 17,194 16,017
Prepaid expenses and other current assets 16,703 15,107
Total current assets 877,347 953,849
Property and equipment, net 47,853 51,813
Operating lease right-of-use assets 48,055 52,070
Restricted cash 6,974 6,974
Intangible assets, net 1,815,972 1,850,556
Other non-current assets 7,273 6,753
Total assets 2,803,474 2,922,015
Current liabilities:    
Accounts payable 4,668 2,083
Accrued liabilities 58,267 63,945
Operating lease liabilities, current portion 9,939 11,715
Other current liabilities 1,835 1,927
Total current liabilities 74,709 79,670
Operating lease liabilities, net of current portion 41,091 43,148
Deferred tax liability, net 184,035 218,583
Other non-current liabilities 2,953 2,752
Total liabilities 302,788 344,153
Preferred stock, par value of $0.001 per share; 50,000,000 shares authorized, no shares issued and outstanding as of March 31, 2026 and December 31, 2025 0 0
Common stock $0.001 par value per share, 1,500,000,000 shares authorized as of March 31, 2026 and December 31, 2025 and 41,134,219 and 40,331,360 shares issued and outstanding as of March 31, 2026 and December 31, 2025 41 40
Additional paid-in capital 12,803,640 12,786,848
Accumulated other comprehensive income 1,873 2,655
Accumulated deficit (10,304,868) (10,211,681)
Total stockholders’ equity 2,500,686 2,577,862
Total liabilities and stockholders’ equity $ 2,803,474 $ 2,922,015