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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
OPERATING ACTIVITIES:    
Net loss $ (185,341) $ (217,690)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 9,697 11,698
Stock-based compensation expense 19,127 31,242
Change in the estimated fair value of contingent consideration 6,173 2,250
Change in the estimated fair value of success payment liabilities 9,170 2,316
Non-cash expense for operating lease right-of-use assets 6,780 7,501
Impairment of long-lived assets 44,611 0
Other non-cash items, net (7,876) (7,853)
Changes in operating assets and liabilities:    
Prepaid expenses and other assets 1,861 (6,781)
Operating lease right-of-use assets and liabilities (1,539) 7,591
Accounts payable (3,356) (904)
Accrued expenses and other liabilities (10,494) (5,362)
Net cash used in operating activities (111,187) (175,992)
INVESTING ACTIVITIES:    
Purchases of marketable securities (51,209) (212,988)
Proceeds from maturities of marketable securities 26,761 216,347
Purchases of property and equipment (65) (32,994)
Proceeds from disposal of assets 771 0
Net cash used in investing activities (23,742) (29,635)
FINANCING ACTIVITIES:    
Proceeds from employee stock purchase plan and exercise of stock options 1,617 10,306
Proceeds related to common stock financings, net 109,724 181,000
Proceeds (principal payments), net for tenant improvement loan (258) 7,800
Net cash provided by financing activities 111,083 199,106
Net decrease in cash, cash equivalents, and restricted cash (23,846) (6,521)
Cash, cash equivalents, and restricted cash at beginning of period 131,398 137,349
Cash, cash equivalents, and restricted cash at end of period 107,552 130,828
SUPPLEMENTAL CASH FLOW INFORMATION:    
Purchases of property and equipment included in accounts payable and accrued liabilities 0 258
Cash received for tenant improvement allowances 891 7,344
Derecognition of operating lease right-of-use asset for lease modification $ (2,724) $ (6,362)