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Balance Sheet Details (Tables)

6 Months Ended

Jun. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets as of June 30, 2024 and December 31, 2023 consisted of the following:

			June 30, 2024						December 31, 2023
			(in thousands)
At-the-market (“ATM”) receivable			$	9,414					$	—
Prepaid expenses			9,177						6,159
Interest receivable			8,076						3,598
Grant receivable			394						9
Purchased equipment deposits			345						3,856
Other current assets			1,376						2,105
Total			$	28,782					$	15,727

Schedule of Property and Equipment, Net

Property and equipment, net as of June 30, 2024 and December 31, 2023 consisted of the following:

			June 30, 2024						December 31, 2023
			(in thousands)
Furniture and equipment			$	1,608					$	1,608
Computers and computer software			941						771
Lab equipment			26,693						25,110
Leasehold improvements			3,552						1,460
Manufacturing equipment			15,395						8,134
Manufacturing facility and equipment construction-in-progress (1)			89,407						51,815
Total property and equipment			137,596						88,898
Less: accumulated depreciation and amortization			(11,623)						(9,272)
Property and equipment, net			$	125,973					$	79,626

___________

(1) See Note 4, “Commercial Manufacturing and Supply Agreement,” for further details.

Schedule of Other Assets, Noncurrent

Other assets as of June 30, 2024 and December 31, 2023 consisted of the following:

			June 30, 2024						December 31, 2023
			(in thousands)
Manufacturing facility construction buildout (1)			$	50,588					$	34,688
Other long-term assets			2,047						2,768
Long-term prepaid assets			55						106
Total			$	52,690					$	37,562

___________

(1) See Note 4, “Commercial Manufacturing and Supply Agreement,” for further details.

Schedule of Accrued Expenses

Accrued expenses as of June 30, 2024 and December 31, 2023 consisted of the following:

			June 30, 2024						December 31, 2023
			(in thousands)
Other research and development			$	18,326					$	30,759
Other accrued expenses			2,275						1,900
Clinical studies			1,552						2,156
Acquired manufacturing rights (1)			—						25,000
Total			$	22,153					$	59,815

___________

(1) See Note 7, “Commitments and Contingencies, Sutro Option Agreement,” for further details.

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- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
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-SubTopic 10
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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