v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Operating activities:    
Net loss $ (186,262) $ (160,928)
Adjustments to reconcile net loss to net cash used in operating activities    
Depreciation and amortization 18,962 18,282
Stock-based compensation 41,496 43,459
Accretion and amortization of premiums and discounts on investments, net (9,080) (11,398)
Amortization of collaboration contract asset 0 7,196
Deferred revenue (892) (41,541)
Changes in fair value of stock price appreciation milestones (819) (2,515)
Impairment of long-lived assets 14,737 0
Loss on disposal of property and equipment 942 0
Grant income from FT516 CIRM award 0 (4,000)
Changes in assets and liabilities:    
Accounts receivable (1,113) 36,654
Prepaid expenses and other assets 5,237 12,876
Accounts payable and accrued expenses (1,661) (28,940)
Right-of-use assets and lease liabilities, net (4,421) (1,408)
Net cash used in operating activities (122,874) (132,263)
Investing activities    
Purchases of property and equipment (730) (6,153)
Purchases of investments (317,750) (358,810)
Maturities of investments 330,698 477,628
Net cash provided by investing activities 12,218 112,665
Financing activities    
Issuance of common stock from equity incentive plans, net of issuance costs 295 85
Proceeds from public offering of common stock, net of issuance costs 74,531 0
Proceeds from issuance of pre-funded warrants, net of issuance costs 19,996 0
Proceeds from FT819 CIRM award 5,070 0
Net cash provided by financing activities 99,892 85
Net change in cash, cash equivalents and restricted cash (10,764) (19,513)
Cash, cash equivalents and restricted cash at beginning of the year 57,047 76,560
Cash, cash equivalents and restricted cash at end of the year 46,283 57,047
Supplemental schedule of noncash investing and financing activities    
Purchases of property and equipment in accounts payable $ 140 $ 0