Condensed Consolidated Balance Sheet and Statement of Operations and Comprehensive Loss Components (Tables)

6 Months Ended

Jun. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure

Prepaid expenses and other current assets consist of the following:

	As of June 30, 2025		As of December 31, 2024
	(amounts in thousands)
Prepaid expenses	$	16,575	$	13,562
Other current assets	2,549		6,708
Total prepaid expenses and other current assets	$	19,124	$	20,270

Schedule of Property, Plant and Equipment

Depreciation and amortization expenses are calculated on a straight-line basis and applied to asset classes based upon the Company’s estimate of the asset class’s useful life, as summarized below:

	Estimated Useful Life
Laboratory equipment	3 years
Computer equipment and software	3 years
Furniture and fixtures	5 years
Aircraft	15 years
Leasehold improvements/leased buildings	Lesser of remaining lease term or useful life
Leased equipment	Lesser of initial lease term or 5 years

Property and equipment, net consist of the following:

	As of June 30, 2025		As of December 31, 2024
	(amounts in thousands)
Computer equipment and software	$	74,791	$	73,312
Capitalized software	26,312		25,921
Laboratory equipment	108,576		103,795
Furniture and fixtures	9,129		9,110
Leasehold improvements/Leased buildings	63,295		63,039
Aircraft and leased equipment	21,249		21,249
Total property and equipment	303,352		296,426
Less: accumulated depreciation and amortization	(242,037)		(228,609)
Property and equipment, net	$	61,315	$	67,817

Schedule of Accrued Liabilities

Accrued expenses and other current liabilities consist of the following:

	As of June 30, 2025		As of December 31, 2024
	(amounts in thousands)
Trade accruals	$	5,749	$	7,131
Accrued payroll and employee medical	18,308		17,882
Accrued bonus	13,516		25,736
Current portion of early exercise stock option liability	327		4,957
Contract liability	5,340		7,470
Current portion of operating lease liabilities	7,291		6,080
Other accrued expenses	10,826		8,286
Total accrued expenses and other current liabilities	$	61,357	$	77,542

Schedule of Other Long-Term Liabilities

Other long-term liabilities consist of the following:

	As of June 30, 2025		As of December 31, 2024
	(amounts in thousands)
Long-term operating lease liabilities, net of current portion	$	37,983	$	38,651
Long-term portion of early exercise stock option liability	380		5,767
Total other long-term liabilities	$	38,363	$	44,418

Schedule of Other Expense, Net

Other expense, net, consists of the following:

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
	(amounts in thousands)
Loss on debt extinguishment	$	(17,930)	$	—	$	(17,930)	$	—
Other	(411)		(141)		(428)		(360)
Total other expense, net	$	(18,341)	$	(141)	$	(18,358)	$	(360)