v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 249,727 $ 214,234
Short-term marketable securities 654,703 549,236
Accounts receivable, net [1] 18,295 20,312
Supplies [2] 16,017 18,632
Prepaid expenses and other current assets [3] 15,107 17,447
Total current assets 953,849 819,861
Property and equipment, net [4] 51,813 69,061
Operating lease right-of-use assets 52,070 66,373
Restricted cash 6,974 3,349
Intangible assets, net 1,850,556 2,016,890
Other non-current assets 6,753 7,773
Total assets 2,922,015 2,983,307
Current liabilities:    
Accounts payable 2,083 4,844
Accrued liabilities [5] 63,945 57,241
Operating lease liabilities, current portion 11,715 13,260
Other current liabilities 1,927 1,580
Total current liabilities 79,670 76,925
Operating lease liabilities, net of current portion 43,148 54,881
Deferred tax liability, net 218,583 345,860
Other non-current liabilities 2,752 2,236
Total liabilities 344,153 479,902
Commitments and contingencies (Note 10)
Stockholders’ equity:    
Preferred stock, par value of $0.001 per share; 50,000,000 shares authorized, no shares issued and outstanding as of December 31, 2025 and December 31, 2024 0 0
Common stock $0.001 par value per share, 1,500,000,000 shares authorized, 40,331,360 and 33,893,409 shares issued and outstanding as of December 31, 2025 and December 31, 2024. 40 34
Additional paid-in capital 12,786,848 12,305,250
Accumulated other comprehensive income 2,655 1,451
Accumulated deficit (10,211,681) (9,803,330)
Total stockholders’ equity 2,577,862 2,503,405
Total liabilities and stockholders’ equity $ 2,922,015 $ 2,983,307
[1] Includes related party accounts receivable, net of nil and $65, respectively.
[2] Includes related party supplies of nil and $3,130, respectively.
[3] Includes related party prepaid expenses and other current assets of nil and $77, respectively.
[4] Includes related party property and equipment, net of nil and $2,227, respectively.
[5] Includes related party accrued liabilities of nil and $104, respectively.