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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities      
Net loss $ (322,302) $ (212,220) $ (173,995)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 2,776 2,101 1,387
Stock-based compensation expense 51,363 38,222 27,139
Amortization of premiums and discounts on marketable securities, net (21,447) (11,274) (615)
Noncash operating lease costs 3,297 2,978 2,749
Changes in operating assets and liabilities:      
Prepaid and other assets (25,057) (3,444) (6,616)
Accounts payable and accrued liabilities 35,183 1,769 18,315
Accrued compensation (10,672) 3,145 2,250
Operating lease liabilities (3,696) (3,328) (1,762)
Deferred revenue (10,315) 62,987 (5,120)
Net cash used in operating activities (300,870) (119,064) (136,268)
Cash flows from investing activities      
Purchases of marketable securities (1,433,535) (461,002) (355,837)
Maturities of marketable securities 586,400 335,160 168,705
Purchases of property and equipment (7,066) (4,228) (2,823)
Net cash used in investing activities (854,201) (130,070) (189,955)
Cash flows from financing activities      
Proceeds from issuance of common stock in public offerings, net of issuance costs 762,161 60,547 344,779
Proceeds from issuance of common stock in private placements, net of issuance costs and allocation to deferred revenues (Note 5) 238,388 31,190 0
Proceeds from issuance of pre-funded warrants in a private placement, net of issuance costs 141,395 0 0
Proceeds from the issuance of common stock under employee incentive equity plans 50,413 2,127 1,392
Net cash provided by financing activities 1,192,357 93,864 346,171
Net increase (decrease) in cash, cash equivalents and restricted cash 37,286 (155,270) 19,948
Cash, cash equivalents and restricted cash at beginning of period 185,377 340,647 320,699
Cash, cash equivalents and restricted cash at end of period 222,663 185,377 340,647
Supplemental schedule of noncash investing and financing activities:      
Right-of-use assets obtained in exchange for operating lease liabilities 0 1,741 0
Costs incurred, but not paid, in connection with purchases of property and equipment included in accounts payable and accrued liabilities $ 3,424 $ 0 $ 233