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Condensed Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 545,134 $ 834,657
Short-term investments 720,550 96,719
Prepaid expenses and other current assets 29,750 11,179
Total current assets 1,295,434 942,555
Property and equipment, net 11,431 10,360
Operating lease right-of-use assets 16,333 21,288
Long-term investments 168,564 26,549
Restricted cash 1,103 871
Other assets 3,192 4,555
Total noncurrent assets 200,623 63,623
Total assets 1,496,057 1,006,178
Current liabilities:    
Accounts payable 15,704 9,795
Accrued compensation 6,925 1,180
Accrued manufacturing expenses 41,880 8,265
Accrued expenses 15,021 15,375
Operating lease liabilities — current 6,028 5,910
Total current liabilities 85,558 40,525
Operating lease liabilities — long-term 7,781 12,031
Other liabilities 2 9
Total liabilities 93,341 52,565
Commitments and contingencies (Note 6)
Stockholders' Equity    
Preferred stock, $0.001 par value -10,000,000 shares authorized at September 30, 2023 and December 31, 2022; no shares issued and outstanding at September 30, 2023 and December 31, 2022 0 0
Common stock, $0.001 par value - 500,000,000 shares authorized at September 30, 2023 and December 31, 2022; 95,099,101 and 79,470,670 shares issued and outstanding at September 30, 2023 and December 31, 2022, respectively 98 82
Additional paid-in capital 2,148,499 1,476,018
Accumulated other comprehensive loss (2,290) (361)
Accumulated deficit (743,591) (522,126)
Total stockholders' equity 1,402,716 953,613
Total liabilities and stockholders' equity $ 1,496,057 $ 1,006,178