CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (224,589)	$ (136,887)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	8	9
Accretion of investments	(10,528)	(11,344)
Non-cash operating lease expense	781	496
Stock-based compensation	30,729	22,624
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(11,567)	(3,281)
Collaboration (payable) receivable, net	(1,726)	68
Other receivable	(3,507)	0
Other assets	463	0
Accounts payable	(5,063)	1,699
Accrued expenses and other liabilities	7,484	7,364
Net cash used in operating activities	(217,515)	(119,252)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of short and long-term investments	(180,738)	(225,316)
Proceeds from sales and maturities of short-term investments	229,936	359,215
Net cash provided by investing activities	49,198	133,899
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from Employee Stock Purchase Plan	1,081	633
Proceeds from stock option exercises	4,861	5,016
Net cash provided by financing activities	5,942	5,649
NET (DECREASE) INCREASE CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(162,375)	20,296
CASH, CASH EQUIVALENTS AND RESTRICTED CASH—beginning of period	295,611	74,471
CASH, CASH EQUIVALENTS AND RESTRICTED CASH —end of period	$ 133,236	$ 94,767