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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 36,037 $ 28,356
Marketable securities 547,186 696,925
Accounts and other receivables 90 700
Prepaid and other current assets 21,026 21,178
Total current assets 604,339 747,159
Property and equipment, net 4,829 4,346
Operating lease right-of-use assets, net 2,717 3,898
Intangible assets 27,190 27,190
Other assets 9,364 9,747
Total assets 648,439 792,340
Current liabilities:    
Accounts payable 4,267 3,265
Accrued expenses 39,715 33,842
Current portion of operating lease liabilities 1,553 1,452
Current portion of other long-term liabilities 930 942
Total current liabilities 46,465 39,501
Long-term portion of operating lease liabilities 1,068 2,361
Other long-term liabilities 2,543 3,473
Total liabilities 50,076 45,335
Commitments and contingent liabilities
Stockholders' equity:    
Convertible preferred stock, $.01 par value; 3,000,000 shares authorized; no shares issued and outstanding at September 30, 2025 and December 31, 2024
Common stock, $.001 par value; 297,000,000 shares authorized; 66,446,846 and 66,374,549 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively 66 66
Additional paid-in capital 2,327,196 2,298,849
Accumulated other comprehensive income 3,765 3,314
Accumulated deficit (1,732,664) (1,555,224)
Total stockholders' equity 598,363 747,005
Total liabilities and stockholders' equity $ 648,439 $ 792,340