CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 131,549	$ 141,789
Marketable securities	598,643	378,864
Prepaid expenses and other current assets	11,166	9,060
Total current assets	741,358	529,713
Long-term marketable securities	172,730	210,416
Property and equipment, net	5,688	1,959
Right-of-use asset, net	8,687	11,365
Other non-current assets	8,671	498
Total assets	937,134	753,951
Current liabilities:
Accounts payable	1,221	1,071
Lease liability	3,504	3,234
Accrued expenses and other current liabilities	23,181	24,255
Total current liabilities	27,906	28,560
Long-term liabilities:
Lease liability, net of current	5,345	8,597
Total liabilities	33,251	37,157
Commitments and contingencies (Note 9)
Stockholders' equity:
Common Stock; $0.00001 par value, 400,000,000 authorized, 69,038,943 issued and 68,401,349 outstanding as of December 31, 2025; 400,000,000 authorized, 59,478,725 issued and 58,062,898 outstanding as of December 31, 2024	1	1
Additional paid-in capital	1,464,561	1,021,794
Accumulated other comprehensive income	1,080	915
Accumulated deficit	(561,759)	(305,916)
Total stockholders' equity	903,883	716,794
Total liabilities and stockholders' equity	$ 937,134	$ 753,951