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Balance Sheet Components
 6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components
Property and Equipment, Net
Property and equipment, net consisted of the following:
As of June 30, 2025As of December 31, 2024
Building and land$14,078 $14,078 
Leasehold improvements
824 824 
Computer hardware and software896 875 
Office and lab equipment13,061 11,620 
Furniture and fixtures2,024 1,811 
$30,883 $29,208 
Accumulated depreciation(14,281)(12,206)
16,602 17,002 
Equipment not yet in service1,991 318 
Property and equipment, net$18,593 $17,320 
Depreciation expense was $1,060 and $2,075 for the three and six months ended June 30, 2025, respectively, and $977 and $1,918 for the three and six months ended June 30, 2024, respectively.
Equipment not yet in service primarily consisted of lab equipment that had not been placed into service as of June 30, 2025 and December 31, 2024.
Other Non-current Assets
Other non-current assets consisted of the following:
As of June 30, 2025As of December 31, 2024
Operating lease right-of-use assets$34,242 $36,391 
Other2,963 3,134 
Other non-current assets$37,205 $39,525 
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following:
As of June 30, 2025As of December 31, 2024
Accrued development milestones$15,153 $— 
Accrued employee compensation and benefits12,109 154 
Accrued clinical trial costs33,920 38,432 
Operating lease liabilities - current portion
4,696 3,802 
Other accrued expenses and other current liabilities12,848 9,099 
 Accrued expenses and other current liabilities$78,726 $51,487