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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating activities      
Net loss $ (376,742) $ (132,527) $ (289,088)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Loss from equity method investment     25,500
Depreciation and amortization 21,925 20,012 14,147
Amortization of investment discount (premiums) (22,765) (29,743) (9,410)
Stock-based compensation expense 120,662 98,647 84,321
Amortization of operating lease right-of-use assets 9,668 9,519 8,430
Change in fair value of derivative liabilities (2,272) (7,500) (23,900)
Change in fair value of contingent consideration liabilities (1,592) (9,740) (18,904)
Change in fair value of non-controlling equity investments 14,093 18,592 (20,200)
Other     3
Changes in operating assets and liabilities:      
Prepaid expenses and other current assets (5,349) (6,473) (7,753)
Accounts payable 1,807 (7,578) 2,373
Accrued expenses and other liabilities (57,685) 67,663 (16,933)
Operating lease liabilities (12,951) (10,168) 12,430
Collaboration receivable   (146) 300,000
Deferred revenue (36,518) (159,559) (35,920)
Other long-term liabilities 473 (194) (2,569)
Net cash provided by (used in) operating activities (347,246) (149,195) 22,527
Investing activities      
Purchases of property and equipment (8,946) (33,732) (48,951)
Purchases of marketable securities (486,439) (984,338) (1,616,999)
Maturities of marketable securities 680,392 1,089,910 1,204,614
Net cash provided by (used in) investing activities 185,007 71,840 (461,336)
Financing activities      
Proceeds from issuance of common shares, net of commissions   236,568 108,258
Proceeds from issuances of stock under ESPP 2,621 3,032 3,075
Payment of equity offering costs   (631) (188)
Equipment financings, net (485) (2,252) (2,287)
Proceeds from exercise of stock options 5,600 6,131 2,732
Proceeds from private stock issuance   33,600  
Net cash provided by (used in) financing activities 7,736 276,448 111,590
Net change in cash, cash equivalents and restricted cash (154,503) 199,093 (327,219)
Cash, cash equivalents and restricted cash—beginning of period 444,614 245,521 572,740
Cash, cash equivalents and restricted cash—end of period 290,111 444,614 245,521
Supplemental disclosure of cash flow information:      
Cash paid for interest 32 160 376
Supplemental disclosure of non-cash investing and financing activities:      
Property and equipment additions in accounts payable and accrued expenses 834 1,403 5,783
Operating lease liabilities arising from obtaining right-of-use assets $ (1,626) $ 3,852 41,050
Non-cash contribution of intellectual property to Orbital Therapeutics Inc.     $ 25,500