Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 238	$ 150
Marketable securities	593	828
Receivable from collaboration partners ($— and $6 from a related party)	11	20
Prepaid expenses and other current assets	15	18
Total current assets	857	1,016
Long-term marketable securities	10	14
Property and equipment, net	42	47
Other noncurrent assets	65	73
Total assets	974	1,150
Current liabilities:
Accounts payable ($29 and $— to a related party)	42	18
Deferred revenue ($52 and $85 to a related party)	52	85
Other current liabilities	141	123
Total current liabilities	235	226
Deferred revenue, noncurrent ($53 and $234 to a related party)	53	234
Long-term debt	98	48
Other noncurrent liabilities	152	157
Commitments
Stockholders’ equity:
Common stock and additional paid-in capital: $0.0001 par value per share; 400.0 shares authorized; 107.1 shares in 2025 and 92.2 shares in 2024 issued and outstanding	1,815	1,617
Accumulated deficit	(1,379)	(1,132)
Total stockholders’ equity	436	485
Total liabilities and stockholders’ equity	$ 974	$ 1,150