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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 26,133 $ 67,674
Available-for-sale investments - short-term 420,850 124,420
Accounts receivable 2,277 2,427
Prepaid expenses 3,658 3,156
Other current assets 3,376 9,081
Total current assets 456,294 206,758
Available-for-sale investments - long-term 111,955 25,068
Property and equipment, net 54,065 44,643
Operating lease right-of-use assets 6,818 7,993
Other assets 1,142 325
Total assets 630,274 284,787
Current liabilities:    
Accounts payable 3,279 1,590
Accrued expenses and other current liabilities 6,137 8,005
Current portion of deferred revenue   113
Current portion of operating lease liabilities 2,218 2,159
Total current liabilities 11,634 11,867
Deferred revenue, less current portion 698 698
Operating lease liabilities, less current portion 5,379 6,641
Derivative warrant liabilities 240,737 93,095
Earn-out liabilities 0 45,897
Total liabilities 258,448 158,198
Commitments and contingencies (Note 16)
Stockholders' equity:    
Preferred stock, par value $0.0001 per share, 10,000,000 shares authorized, none outstanding
Common stock, par value $0.0001 per share, 1,000,000,000 shares authorized, 325,307,895 shares issued and outstanding at September 30, 2025 and 283,546,871 shares issued and outstanding at December 31, 2024 33 29
Additional paid-in capital 1,123,853 681,202
Accumulated other comprehensive income 690 105
Accumulated deficit (752,750) (554,747)
Total stockholders' equity 371,826 126,589
Total liabilities and stockholders' equity $ 630,274 $ 284,787