v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net loss $ (100,799) $ (114,423)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 14,760 18,335
Amortization of right-of-use assets and non-cash lease expense 2,554 2,046
Accretion of discounts on marketable securities (4,498) (5,048)
Stock-based compensation expense 30,509 40,639
Other 454 40
Changes in operating assets and liabilities:    
Prepaid expenses and other current assets and other assets (412) 472
Accounts payable, accrued liabilities and accrued compensation and benefits (880) (1,532)
Operating lease liability and other liabilities (1,199) (1,278)
Net cash used in operating activities (59,511) (60,749)
Investing activities    
Purchases of property and equipment (9,980) (5,835)
Proceeds from maturities of marketable securities 231,953 281,220
Purchases of marketable securities (247,836) (213,352)
Other 174  
Net cash (used in) provided by investing activities (25,689) 62,033
Financing activities    
Proceeds from exercise of stock options 614 11,182
Proceeds from issuance of common stock, net of issuance costs paid   1,007
Principal payment for finance lease (870) (784)
Net cash (used in) provided by financing activities (256) 11,405
Net (decrease) increase in cash, cash equivalents and restricted cash (85,456) 12,689
Cash, cash equivalents and restricted cash at beginning of period 244,179 158,914
Cash, cash equivalents and restricted cash at end of period 158,723 171,603
Supplemental disclosure:    
Cash paid for interest 478 528
Purchases of property and equipment, not yet paid $ 3,905 4,624
Common stock issuance costs, not yet paid   $ 110