CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 27,356	$ 39,634
Short-term investments	203,072	236,645
Prepaid expenses and other current assets	5,457	6,233
Total current assets	235,885	282,512
Long-term investments	33,568	16,107
Restricted cash	2,743	2,743
Property and equipment, net	64,417	66,721
Operating lease right-of-use assets	33,885	34,429
Other long-term assets	1,575	1,697
Total assets	372,073	404,209
Current liabilities
Accounts payable	1,586	2,089
Operating lease liabilities, current portion	7,081	6,889
Accrued and other current liabilities	9,540	13,288
Total current liabilities	18,207	22,266
Operating lease liabilities, net of current portion	67,919	69,531
Other long-term liabilities	87	87
Total liabilities	86,213	91,884
Commitments and contingencies (Note 7)
Stockholders’ equity
Common stock	7	7
Additional paid-in capital	962,123	960,219
Accumulated other comprehensive (loss) income	(130)	407
Accumulated deficit	(676,140)	(648,308)
Total stockholders’ equity	285,860	312,325
Total liabilities and stockholders’ equity	$ 372,073	$ 404,209