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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 527,907 $ 281,967
Marketable securities 692,045 568,773
Prepaid expenses and other current assets 27,662 27,409
Total current assets 1,247,614 878,149
Property and equipment, net 109,569 111,412
Restricted cash 6,610 8,144
Operating lease right-of-use assets 102,216 104,865
Other assets 911 1,254
Total assets 1,466,920 1,103,824
Current liabilities:    
Accounts payable 7,699 3,871
Accrued expenses and other current liabilities 30,233 47,468
Current portion of derivative liabilities 5,200 8,400
Current portion of deferred revenue 85,204 108,858
Current portion of lease liability 13,210 13,469
Total current liabilities 141,546 182,066
Long-term lease liability 144,919 147,956
Contingent consideration liabilities 1,158 1,131
Long-term portion of deferred revenue 49,403 33,218
Long-term portion of derivative liabilities 6,344 5,404
Other liabilities 414 504
Total liabilities 343,784 370,279
Commitments and contingencies (See Note 7, License agreements and Note 8, Collaboration and license agreements)
Stockholders’ equity:    
Preferred stock, $0.01 par value; 25,000,000 shares authorized, and no shares issued or outstanding at March 31, 2025 and December 31, 2024, respectively
Common stock, $0.01 par value; 250,000,000 shares authorized, 100,557,094 and 83,633,069 issued and outstanding at March 31, 2025 and December 31, 2024, respectively 1,006 836
Additional paid-in capital 2,797,871 2,298,661
Accumulated other comprehensive (loss) income 160 679
Accumulated deficit (1,675,901) (1,566,631)
Total stockholders' equity 1,123,136 733,545
Total liabilities and stockholders' equity $ 1,466,920 $ 1,103,824