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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 120,256 $ 109,966
Marketable securities 368,488 264,915
Accounts Receivable 0 15,000
Contract assets 947 3,762
Prepaid expenses and other current assets 20,577 11,674
Total current assets 510,268 405,317
Marketable securities, non-current 362,159 61,434
Property and equipment, net 50,457 48,134
Right-of-use assets, operating leases 47,407 52,945
Other non-current assets 1,950 2,118
Restricted cash 5,794 5,811
Total assets 978,035 575,759
Current liabilities:    
Accounts payable 5,989 7,075
Accrued expenses 34,867 33,864
Deferred revenue 13,576 37,883
Operating lease liabilities 11,594 5,068
Finance lease liabilities 1,518 1,277
Other current liabilities 223 524
Total current liabilities 67,767 85,691
Non-current liabilities    
Deferred revenue, net of current portion 0 16,768
Operating lease liabilities, net of current portion 72,423 77,028
Finance lease liabilities, net of current portion 2,226 1,301
Other non-current liabilities 0 0
Total liabilities 142,416 180,788
Commitments and contingencies (Note 9)
Stockholders' equity:    
Common stock, $0.0001 par value; 150,000,000 shares authorized at December 31, 2024 and 2023, 64,890,193 and 55,585,305 shares issued and outstanding at December 31, 2024 and 2023, respectively; 7 6
Additional paid-in capital 1,591,707 926,269
Accumulated deficit (754,610) (530,752)
Accumulated other comprehensive loss (1,485) (552)
Total stockholders' equity 835,619 394,971
Total liabilities and stockholders' equity $ 978,035 $ 575,759