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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 27,763 $ 44,851
Available-for-sale investments - short-term 365,946 398,660
Accounts receivable 3,865 2,551
Prepaid expenses 4,215 3,186
Other current assets 12,601 5,512
Total current assets 414,390 454,760
Available-for-sale investments - long-term 147,586 146,321
Property and equipment, net 75,302 57,051
Operating lease right-of-use assets 6,929 6,411
Other assets 4,026 2,031
Total assets 648,233 666,574
Current liabilities:    
Accounts payable 14,001 3,488
Accrued expenses and other current liabilities 6,676 5,582
Current derivative warrant liabilities 78,407  
Current portion of deferred revenue 3,316 847
Current portion of operating lease liabilities 2,657 2,235
Total current liabilities 105,057 12,152
Deferred revenue, less current portion 698 698
Operating lease liabilities, less current portion 5,044 4,932
Derivative warrant liabilities   102,593
Total liabilities 110,799 120,375
Commitments and contingencies (Note 16)
Stockholders' equity:    
Preferred stock, par value $0.0001 per share, 10,000,000 shares authorized, none outstanding
Common stock, par value $0.0001 per share, 1,000,000,000 shares authorized, 333,676,881 shares issued and outstanding at June 30, 2026 and 331,282,895 shares issued and outstanding at December 31, 2025 33 33
Additional paid-in capital 1,329,607 1,316,126
Accumulated other comprehensive (loss) income (1,752) 997
Accumulated deficit (790,454) (770,957)
Total stockholders' equity 537,434 546,199
Total liabilities and stockholders' equity $ 648,233 $ 666,574