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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 71,396 $ 182,476
Prepaid expenses 2,493 6,777
Other current assets 15,626 14,667
Total current assets 231,406 211,886
Property and equipment, net 22,046 24,404
Operating lease right-of-use assets 117,869 47,156
Restricted cash 13,691 14,062
Total assets 385,012 297,508
Current liabilities:    
Accounts payable 9,354 11,351
Accrued expenses and other current liabilities 11,000 15,904
Deferred revenue — related party 6,951 7,092
Operating lease liability 7,714 3,614
Total current liabilities 35,019 37,961
Deferred revenue, net of current — related party 59,751 63,218
Operating lease liability, net of current 110,421 37,180
Research and development funding liability 18,000 6,000
Total liabilities 223,191 144,359
Commitments and contingencies
Stockholders’ equity    
Common stock, par value of $0.00001 per share; 775,000,000 shares authorized; 180,309,471 and 131,160,842 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 2 2
Additional paid-in capital 1,004,061 840,358
Accumulated other comprehensive loss 33 1
Accumulated deficit (842,275) (687,212)
Total stockholders’ equity 161,821 153,149
Total liabilities and stockholders’ equity 385,012 297,508
Nonrelated Party    
Current assets:    
Short-term investments 137,030 2,998
Related Party    
Current assets:    
Short-term investments $ 4,861 $ 4,968