CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 23,044	$ 28,356
Marketable securities	607,293	696,925
Accounts and other receivables	90	700
Prepaid and other current assets	17,977	21,178
Total current assets	648,404	747,159
Property and equipment, net	4,392	4,346
Operating lease right-of-use assets, net	3,121	3,898
Intangible assets	27,190	27,190
Other assets	9,300	9,747
Total assets	692,407	792,340
Current liabilities:
Accounts payable	2,073	3,265
Accrued expenses	28,424	33,842
Current portion of operating lease liabilities	1,536	1,452
Current portion of other long-term liabilities	930	942
Total current liabilities	32,963	39,501
Long-term portion of operating lease liabilities	1,495	2,361
Other long-term liabilities	2,543	3,473
Total liabilities	37,001	45,335
Commitments and contingent liabilities
Stockholders' equity:
Convertible preferred stock, $.01 par value; 3,000,000 shares authorized; no shares issued and outstanding at June 30, 2025 and December 31, 2024
Common stock, $.001 par value; 297,000,000 shares authorized; 66,394,241 and 66,374,549 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively	66	66
Additional paid-in capital	2,317,621	2,298,849
Accumulated other comprehensive income	3,339	3,314
Accumulated deficit	(1,665,620)	(1,555,224)
Total stockholders' equity	655,406	747,005
Total liabilities and stockholders' equity	$ 692,407	$ 792,340