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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 219,868 $ 185,082
Marketable securities 1,281,629 410,269
Prepaid and other assets 40,793 15,956
Total current assets 1,542,290 611,307
Property and equipment, net 12,670 8,381
Restricted cash 2,795 295
Right-of-use assets 5,619 8,271
Other assets 521 301
Total assets 1,563,895 628,555
Current liabilities:    
Accounts payable and accrued liabilities 69,524 34,341
Accrued compensation 3,663 14,335
Lease liabilities, current portion 3,844 3,639
Deferred revenue, current portion 20,987 28,365
Total current liabilities 98,018 80,680
Lease liabilities, net of current portion 2,957 6,213
Deferred revenue, net of current portion 37,961 40,898
Total liabilities 138,936 127,791
Commitments and contingencies (Note 7)
Stockholders’ equity:    
Common stock, $0.0001 par value; authorized shares – 400,000; issued and outstanding shares – 119,893 and 79,275 at December 31, 2024 and 2023, respectively 12 8
Additional paid-in capital 2,315,111 1,071,395
Accumulated other comprehensive income 2,902 125
Accumulated deficit (893,066) (570,764)
Total stockholders’ equity 1,424,959 500,764
Total liabilities and stockholders’ equity $ 1,563,895 $ 628,555