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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net loss $ (659,579,000) $ (263,412,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 5,394,000 5,018,000
Non-cash share-based compensation 59,269,000 12,916,000
Issuance of common shares as payment for acquisition of IPR&D asset 10,811,000 0
Issuance of common shares as payment under license and other agreements 71,627,000 0
Fair value of forward contract and derivative liabilities under license agreement 102,529,000 0
Change in fair value of forward contract and derivative liabilities (21,179,000) 0
Issuance of warrant under license agreement 3,340,000 0
Other non-cash items, net (6,749,000) (4,696,000)
Changes in operating assets and liabilities, net of effects of acquisition:    
Prepaid expenses and other current and non-current assets (290,000) 28,428,000
Accounts payable 2,425,000 (1,188,000)
Accrued expenses and other current and non-current liabilities 20,691,000 6,090,000
Net cash used in operating activities (411,711,000) (216,844,000)
Cash flows from investing activities:    
Proceeds from maturities of marketable securities 312,364,000 214,224,000
Proceeds from sales of marketable securities 0 4,920,000
Purchases of marketable securities (466,053,000) (82,822,000)
Purchases of property and equipment (4,000,000) (2,578,000)
Cash acquired from acquisition of IPR&D asset 391,000 0
Net cash (used in) provided by investing activities (157,298,000) 133,744,000
Cash flows from financing activities:    
Proceeds from issuance of common shares 394,881,000 0
Payment of issuance costs (800,000) 0
Change in restricted cash due to Former Parent 0 (35,184,000)
Proceeds from equity incentive plan and employee share purchase plan 8,582,000 0
Other financing activities, net 2,258,000 1,857,000
Net cash provided by (used in) financing activities 404,921,000 (33,327,000)
Effects of exchange rates on cash, cash equivalents, and restricted cash (13,000) (187,000)
Net decrease in cash, cash equivalents, and restricted cash (164,101,000) (116,614,000)
Cash, cash equivalents, and restricted cash at beginning of period 252,120,000 242,604,000
Cash, cash equivalents, and restricted cash at end of period $ 88,019,000 $ 125,990,000