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Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
Our operations constitute a single operating and reportable segment. Factors considered in determining operating and reportable segments include the organization of our business, the nature of our technology and the information reviewed by our CODM. Operating segments are defined as components of an enterprise for which discrete financial information is available and is evaluated regularly by the CODM, in deciding how to allocate resources and assess performance. Our CODM is our Chief Executive Officer. Our revenues are derived from our research collaboration and license agreements, which are further described in “Note 5 – Collaboration, License and Research Agreements”. The CODM utilizes consolidated net loss in assessing performance and allocating resources by comparing net loss against prior periods and the Company’s forecast. The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets.
The following table presents financial information, including significant segment expenses, which are regularly provided to the CODM and included within consolidated net loss (in thousands):
Year Ended December 31,
202420232022
Collaboration revenue
$10,897 $9,560 $9,224 
Operating expenses, excluding stock-based compensation and depreciation
Research and development
(275,176)(167,299)(134,184)
General and administrative
(60,518)(37,536)(25,427)
Total operating expenses, excluding stock-based compensation and depreciation(335,694)(204,835)(159,611)
Stock-based compensation(51,363)(38,222)(27,139)
Depreciation(2,776)(2,101)(1,387)
Total operating expenses(389,833)(245,158)(188,137)
Other income56,634 23,378 4,918 
Net loss$(322,302)$(212,220)$(173,995)
The following table presents the measure of segment assets regularly provided to the CODM (in thousands):
December 31,
20242023
Cash, cash equivalents and marketable securities
$1,501,497 $595,351