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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 90,963 $ 174,960
Short-term marketable securities 757,241 657,371
Prepaid expenses and other current assets 34,394 32,105
Total current assets 882,598 864,436
Long-term marketable securities 24,703 359,373
Property and equipment, net 53,732 55,236
Finance lease right-of-use asset 49,447 47,533
Operating lease right-of-use asset 20,035 22,861
Other non-current assets 25,106 24,741
Total assets 1,055,621 1,374,180
Current liabilities:    
Accounts payable 6,745 11,137
Accrued compensation 18,358 24,728
Accrued clinical and other research and development costs 23,355 22,822
Accrued manufacturing costs 5,002 12,779
Operating lease liability, current 9,164 8,308
Deferred research and development funding liability, current 22,580 14,129
Other accrued costs and current liabilities 4,942 8,305
Total current liabilities 90,146 102,208
Operating lease liability, less current portion 29,686 36,673
Finance lease liability, less current portion 5,554 5,615
Deferred research funding and development liability, less current portion 4,038 0
Total liabilities 129,424 144,496
Commitments and contingencies (Note 6)
Stockholders' equity:    
Convertible preferred stock, $0.01 par value; 40,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 0 shares issued and outstanding as of September 30, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value; 400,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 146,625,722 shares and 144,220,986 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 1,793 1,768
Additional paid-in capital 2,846,278 2,764,880
Accumulated other comprehensive income 1,101 2,020
Accumulated deficit (1,922,975) (1,538,984)
Total stockholders' equity 926,197 1,229,684
Total liabilities and stockholders’ equity $ 1,055,621 $ 1,374,180