v3.25.4
FAIR VALUE MEASUREMENTS (Detail) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Financial assets    
Cash equivalents $ 23,637 $ 69,089
Marketable equity securities 0 8,156
Total financial assets 1,416,233 1,988,854
Financial liabilities    
Development derivative liability   $ 486,919
Derivative Liability, Statement of Financial Position [Extensible Enumeration]   Development derivative liability, Development derivative liability, net of current portion
U.S. treasury securities    
Financial assets    
Marketable debt securities 653,341 $ 921,627
Corporate notes    
Financial assets    
Marketable debt securities 333,241 361,739
U.S. government-sponsored enterprise securities    
Financial assets    
Marketable debt securities 252,634 396,143
Commercial paper    
Financial assets    
Marketable debt securities 7,017 35,408
Municipal securities    
Financial assets    
Marketable debt securities 5,001 5,003
Quoted Prices in Active Markets (Level 1)    
Financial assets    
Marketable equity securities   8,156
Total financial assets 141,362 199,845
Financial liabilities    
Development derivative liability   0
Quoted Prices in Active Markets (Level 1) | U.S. treasury securities    
Financial assets    
Marketable debt securities 0 0
Quoted Prices in Active Markets (Level 1) | Corporate notes    
Financial assets    
Marketable debt securities 0 0
Quoted Prices in Active Markets (Level 1) | U.S. government-sponsored enterprise securities    
Financial assets    
Marketable debt securities 0 0
Quoted Prices in Active Markets (Level 1) | Commercial paper    
Financial assets    
Marketable debt securities 0 0
Quoted Prices in Active Markets (Level 1) | Municipal securities    
Financial assets    
Marketable debt securities 0 0
Significant Observable Inputs (Level 2)    
Financial assets    
Marketable equity securities   0
Total financial assets 1,274,871 1,789,009
Financial liabilities    
Development derivative liability   0
Significant Observable Inputs (Level 2) | U.S. treasury securities    
Financial assets    
Marketable debt securities 653,341 921,627
Significant Observable Inputs (Level 2) | Corporate notes    
Financial assets    
Marketable debt securities 333,241 361,739
Significant Observable Inputs (Level 2) | U.S. government-sponsored enterprise securities    
Financial assets    
Marketable debt securities 252,634 396,143
Significant Observable Inputs (Level 2) | Commercial paper    
Financial assets    
Marketable debt securities 7,017 35,408
Significant Observable Inputs (Level 2) | Municipal securities    
Financial assets    
Marketable debt securities 5,001 5,003
Significant Unobservable Inputs (Level 3)    
Financial assets    
Marketable equity securities   0
Total financial assets 0 0
Financial liabilities    
Development derivative liability   486,919
Significant Unobservable Inputs (Level 3) | U.S. treasury securities    
Financial assets    
Marketable debt securities 0 0
Significant Unobservable Inputs (Level 3) | Corporate notes    
Financial assets    
Marketable debt securities 0 0
Significant Unobservable Inputs (Level 3) | U.S. government-sponsored enterprise securities    
Financial assets    
Marketable debt securities 0 0
Significant Unobservable Inputs (Level 3) | Commercial paper    
Financial assets    
Marketable debt securities 0 0
Significant Unobservable Inputs (Level 3) | Municipal securities    
Financial assets    
Marketable debt securities 0 0
Money market funds    
Financial assets    
Cash equivalents 140,445 190,779
Restricted cash (money market funds) 917 910
Money market funds | Quoted Prices in Active Markets (Level 1)    
Financial assets    
Cash equivalents 140,445 190,779
Restricted cash (money market funds) 917 910
Money market funds | Significant Observable Inputs (Level 2)    
Financial assets    
Cash equivalents 0 0
Restricted cash (money market funds) 0 0
Money market funds | Significant Unobservable Inputs (Level 3)    
Financial assets    
Cash equivalents 0 0
Restricted cash (money market funds) 0 0
U.S. treasury securities    
Financial assets    
Cash equivalents 18,952 36,428
U.S. treasury securities | Quoted Prices in Active Markets (Level 1)    
Financial assets    
Cash equivalents 0 0
U.S. treasury securities | Significant Observable Inputs (Level 2)    
Financial assets    
Cash equivalents 18,952 36,428
U.S. treasury securities | Significant Unobservable Inputs (Level 3)    
Financial assets    
Cash equivalents 0 0
Commercial paper    
Financial assets    
Cash equivalents 1,995 22,709
Commercial paper | Quoted Prices in Active Markets (Level 1)    
Financial assets    
Cash equivalents 0 0
Commercial paper | Significant Observable Inputs (Level 2)    
Financial assets    
Cash equivalents 1,995 22,709
Commercial paper | Significant Unobservable Inputs (Level 3)    
Financial assets    
Cash equivalents 0 0
U.S. government-sponsored enterprise securities    
Financial assets    
Cash equivalents 2,690 9,952
U.S. government-sponsored enterprise securities | Quoted Prices in Active Markets (Level 1)    
Financial assets    
Cash equivalents 0 0
U.S. government-sponsored enterprise securities | Significant Observable Inputs (Level 2)    
Financial assets    
Cash equivalents 2,690 9,952
U.S. government-sponsored enterprise securities | Significant Unobservable Inputs (Level 3)    
Financial assets    
Cash equivalents $ 0 $ 0