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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net loss $ (324,289) $ (286,388)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 16,626 16,482
Amortization of investment discount (premiums) (12,700) (18,125)
In-process research and development charge 14,507 0
Stock-based compensation expense 73,796 90,444
Change in operating lease right-of-use assets 7,870 7,193
Change in fair value of derivative liabilities (650) (2,400)
Change in fair value of contingent consideration liabilities (945) (1,619)
Change in fair value of non-controlling equity investments (7,271) 13,003
Realized loss (gain) on sale of marketable securities 399 0
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets 4,452 2,458
Accounts payable 4,846 2,357
Accrued expenses and other liabilities (6,613) (53,610)
Operating lease liabilities (10,005) (9,676)
Deferred revenue (21,597) (31,451)
Other long-term liabilities (239) 451
Net cash provided by (used in) operating activities (261,813) (270,881)
Investing activities    
Purchases of property and equipment (11,212) (5,976)
Purchases of marketable securities (848,754) (486,439)
Maturities of marketable securities 624,456 551,142
Proceeds from sale of marketable securities 5,743 0
Cash paid for acquisition, net (78) 0
Net cash provided by (used in) investing activities (229,845) 58,727
Financing activities    
Proceeds from issuance of common shares and pre-funded warrants, net of issuance costs 470,513 0
Proceeds from issuances of stock under ESPP 2,764 2,622
Repayment of equipment financings 0 (485)
Proceeds from exercise of stock options 2,886 2,155
Net cash provided by (used in) financing activities 476,163 4,292
Net change in cash, cash equivalents and restricted cash (15,495) (207,862)
Cash, cash equivalents and restricted cash—beginning of period 290,111 444,614
Cash, cash equivalents and restricted cash—end of period 274,616 236,752
Supplemental disclosure of cash flow information:    
Cash paid for interest 0 32
Supplemental disclosure of non-cash investing and financing activities:    
Property and equipment additions in accounts payable and accrued expenses 3,126 451
Operating lease liabilities arising from obtaining right-of-use assets 0 (1,010)
Contingent consideration liabilities assumed in acquisition 7,715 0
Fair value of equity instruments issued in connection with acquisition $ 6,715 $ 0