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Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
CURRENT ASSETS:    
Cash and cash equivalents $ 693,472 $ 559,931
Accounts receivable 3,492 2,742
Prepaid expenses and other current assets 22,343 26,220
Total current assets 719,307 588,893
Operating lease right-of-use assets 17,463 19,251
Property and equipment, net 4,564 4,237
Restricted cash 1,449 1,449
Other long-term assets 0 2,056
TOTAL ASSETS 742,783 615,886
CURRENT LIABILITIES:    
Accounts payable 2,298 4,602
Current portion of operating lease liabilities 2,318 1,978
Accrued expenses and other current liabilities 15,174 20,870
Deferred revenue 155 0
Current tax liability 4,147 0
Total current liabilities 24,092 27,450
Operating lease liabilities, net of current portion 15,111 16,883
Total liabilities 39,203 44,333
STOCKHOLDERS' EQUITY:    
Preferred stock, par value of $0.0001 per share; 10,000,000 shares authorized as of September 30, 2025 and December 31, 2024; no shares issued and outstanding 0 0
Common stock, par value of $0.0001 per share; 200,000,000 shares authorized as of September 30, 2025 and December 31, 2024; 40,632,164 and 40,554,705 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively 4 4
Additional paid-in capital 1,161,880 1,140,328
Accumulated deficit (458,304) (568,779)
Total stockholders' equity 703,580 571,553
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 742,783 615,886
Series A Junior Participating Preferred Stock    
STOCKHOLDERS' EQUITY:    
Preferred stock, par value of $0.0001 per share; 10,000,000 shares authorized as of September 30, 2025 and December 31, 2024; no shares issued and outstanding $ 0 $ 0