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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 56,947 $ 174,960
Short-term marketable securities 760,979 657,371
Prepaid expenses and other current assets 60,712 32,105
Total current assets 878,638 864,436
Long-term marketable securities 235,844 359,373
Property and equipment, net 57,765 55,236
Finance lease right-of-use asset 50,199 47,533
Operating lease right-of-use asset 21,963 22,861
Other non-current assets 26,934 24,741
Total assets 1,271,343 1,374,180
Current liabilities:    
Accounts payable 8,458 11,137
Accrued compensation 7,655 24,728
Accrued clinical and other research and development costs 27,908 22,822
Accrued manufacturing costs 14,579 12,779
Operating lease liability, current 8,585 8,308
Deferred research and development funding liability, current 17,338 14,129
Other accrued costs and current liabilities 7,354 8,305
Total current liabilities 91,877 102,208
Operating lease liability, less current portion 34,449 36,673
Finance lease liability, less current portion 5,598 5,615
Deferred research funding and development liability, less current portion 16,733 0
Total liabilities 148,657 144,496
Commitments and contingencies (Note 6)
Stockholders' equity:    
Convertible preferred stock, $0.01 par value; 40,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 0 shares issued and outstanding as of March 31, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value; 400,000,000 shares authorized as of March 31, 2025 and December 31, 2024; 145,251,258 shares and 144,220,986 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively 1,778 1,768
Additional paid-in capital 2,790,825 2,764,880
Accumulated other comprehensive income 2,037 2,020
Accumulated deficit (1,671,954) (1,538,984)
Total stockholders' equity 1,122,686 1,229,684
Total liabilities and stockholders’ equity $ 1,271,343 $ 1,374,180