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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 123,575 $ 105,597
Marketable securities 196,049 264,930
Prepaid expenses and other current assets 8,577 9,067
Total current assets 328,201 379,594
Restricted cash 1,585 1,690
Marketable securities, non-current 0 13,014
Other investments 19,000 19,000
Property and equipment, net 36,722 48,200
Operating lease right-of-use assets 19,912 24,739
Other non-current assets 2,545 4,622
Total assets 407,965 490,859
Current liabilities:    
Accounts payable 2,568 5,366
Accrued liabilities and other current liabilities 29,310 40,822
Contingent consideration payable 0 7,600
Total current liabilities 31,878 53,788
Operating lease liabilities, non-current 44,285 50,994
Other non-current liabilities 2,681 3,253
Total liabilities 78,844 108,035
Commitments and contingencies (Note 12)
Stockholders’ equity:    
Preferred stock, $0.0001 par value; 10,000 shares authorized at September 30, 2025 and December 31, 2024; no shares issued and outstanding at September 30, 2025 and December 31, 2024 0 0
Common stock, value, issued [1] 2 1
Additional paid-in capital [1] 1,807,749 1,727,638
Accumulated other comprehensive income 201 291
Accumulated deficit (1,478,831) (1,345,106)
Total stockholders’ equity 329,121 382,824 [2]
Total liabilities and stockholders’ equity $ 407,965 $ 490,859
[1] Amounts previously reported have been retroactively adjusted to reflect the 1-for-20 reverse stock split effected on May 30, 2025. See Note 2.
[2] Amounts previously reported for common stock and additional paid-in-capital have been adjusted to reflect the 1-for-20 reverse stock split effected on May 30, 2025. See Note 2.