Sana Biotechnology (SANA) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 29, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	Sana Biotechnology, Inc.
Entity Central Index Key	0001770121
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		190,231,708
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity File Number	001-39941
Entity Tax Identification Number	83-1381173
Entity Address Address Line1	188 East Blaine Street
Entity Address, Address Line Two	Suite 400
Entity Address City Or Town	Seattle
Entity Address State Or Province	WA
Entity Address Postal Zip Code	98102
City Area Code	206
Local Phone Number	701-7914
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation State Country Code	DE
Title of 12(b) Security	Common Stock, $0.0001 par value
Trading Symbol	SANA
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 194,659	$ 253,029
Marketable securities	290,143	297,967
Prepaid expenses and other current assets	9,612	7,105
Total current assets	494,414	558,101
Long-term marketable securities	94,764	195,881
Property and equipment, net	67,846	65,464
Operating lease right-of-use assets	98,910	96,320
Restricted cash	10,508	8,819
Intangible asset	59,195	59,195
Goodwill	140,627	140,627
Other non-current assets	4,825	5,000
TOTAL ASSETS	971,089	1,129,407
Current liabilities:
Accounts payable	3,079	2,219
Accrued compensation	17,991	21,131
Accrued expenses and other current liabilities	13,985	10,344
Operating lease liabilities	10,667	9,159
Contingent consideration	51,386	51,382
Success payment liabilities		5,000
Total current liabilities	97,108	99,235
Operating lease liabilities, net of current portion	102,960	101,784
Contingent consideration, net of current portion	97,999	102,361
Success payment liabilities, net of current portion	33,517	97,525
Total liabilities	331,584	400,905
Commitments and contingencies (Note 9)
Stockholders' equity:
Preferred stock, $0.0001 par value; 50,000 shares authorized; zero shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively
Common stock, $0.0001 par value; 750,000 shares authorized; 188,430 and 184,929 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	19	18
Additional paid-in capital	1,535,106	1,515,210
Accumulated other comprehensive loss	(6,347)	(1,366)
Accumulated deficit	(889,273)	(785,360)
Total stockholders' equity	639,505	728,502
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 971,089	$ 1,129,407

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	750,000,000	750,000,000
Common stock, shares issued	188,430,000	184,929,000
Common stock, shares outstanding	188,430,000	184,929,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating expenses (gains):
Research and development	$ 72,540	$ 44,996	$ 145,229	$ 86,876
Research and development related success payments and contingent consideration	(17,928)	(76,025)	(73,366)	51,025
General and administrative	18,292	12,477	32,726	24,298
Total operating expenses (gains)	72,904	(18,552)	104,589	162,199
Gain (loss) from operations	(72,904)	18,552	(104,589)	(162,199)
Interest income, net	637	130	976	251
Other income (expense), net	(198)	1	(300)	14
Net income (loss)	$ (72,465)	$ 18,683	$ (103,913)	$ (161,934)
Net income (loss) per common share - basic	$ (0.39)	$ 0.10	$ (0.56)	$ (1.08)
Weighted-average number of common shares - basic	187,626	179,899	186,801	149,683
Net income (loss) per common share - diluted	$ (0.39)	$ 0.09	$ (0.56)	$ (1.08)
Weighted-average number of common shares - diluted	187,626	190,508	186,801	149,683

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (72,465)	$ 18,683	$ (103,913)	$ (161,934)
Other comprehensive loss, net of tax:
Unrealized loss on marketable securities, net	(1,175)	(43)	(4,981)	(17)
Total comprehensive income (loss)	$ (73,640)	$ 18,640	$ (108,894)	$ (161,951)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	IPO	Convertible Preferred Stock	Common Stock	Common Stock IPO	Additional Paid-in Capital	Additional Paid-in Capital IPO	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance at Dec. 31, 2020	$ (421,184)			$ 2		$ 8,216		$ 30	$ (429,432)
Beginning balance (in shares) at Dec. 31, 2020			134,113
Beginning balance at Dec. 31, 2020			$ 852,897
Beginning balance (in shares) at Dec. 31, 2020				16,170
Conversion of convertible preferred stock into common stock upon initial public offering	852,897			$ 13		852,884
Conversion of convertible preferred stock into common stock, upon initial public offering (in shares)			(134,113)
Conversion of convertible preferred stock into common stock, upon initial public offering			$ (852,897)
Conversion of convertible preferred stock into common stock, upon initial public offering (in shares)				134,113
Issuance of common stock in initial public offering, net of offering costs		$ 626,405			$ 3		$ 626,402
Issuance of common stock in initial public offering, net of offering costs (in shares)					27,025
Vesting of restricted stock (in shares)				1,428
Exercise of stock options	298					298
Exercise of stock options (in shares)				205
Stock-based compensation expense	4,158					4,158
Unrealized loss on marketable securities, net	26							26
Net income (loss)	(180,617)								(180,617)
Ending balance at Mar. 31, 2021	881,983			$ 18		1,491,958		56	(610,049)
Ending balance (in shares) at Mar. 31, 2021				178,941
Beginning balance at Dec. 31, 2020	(421,184)			$ 2		8,216		30	(429,432)
Beginning balance (in shares) at Dec. 31, 2020			134,113
Beginning balance at Dec. 31, 2020			$ 852,897
Beginning balance (in shares) at Dec. 31, 2020				16,170
Net income (loss)	(161,934)
Ending balance at Jun. 30, 2021	905,897			$ 18		1,497,232		13	(591,366)
Ending balance (in shares) at Jun. 30, 2021				180,576
Beginning balance at Mar. 31, 2021	881,983			$ 18		1,491,958		56	(610,049)
Beginning balance (in shares) at Mar. 31, 2021				178,941
Vesting of restricted stock (in shares)				1,423
Exercise of stock options	333					333
Exercise of stock options (in shares)				212
Stock-based compensation expense	4,941					4,941
Unrealized loss on marketable securities, net	(43)							(43)
Net income (loss)	18,683								18,683
Ending balance at Jun. 30, 2021	905,897			$ 18		1,497,232		13	(591,366)
Ending balance (in shares) at Jun. 30, 2021				180,576
Beginning balance at Dec. 31, 2021	$ 728,502			$ 18		1,515,210		(1,366)	(785,360)
Beginning balance (in shares) at Dec. 31, 2021	184,929			184,929
Vesting of restricted stock				$ 1		(1)
Vesting of restricted stock (in shares)				1,419
Exercise of stock options	$ 652					652
Exercise of stock options (in shares)				284
Stock-based compensation expense	7,755					7,755
Unrealized loss on marketable securities, net	(3,806)							(3,806)
Net income (loss)	(31,448)								(31,448)
Ending balance at Mar. 31, 2022	701,655			$ 19		1,523,616		(5,172)	(816,808)
Ending balance (in shares) at Mar. 31, 2022				186,632
Beginning balance at Dec. 31, 2021	$ 728,502			$ 18		1,515,210		(1,366)	(785,360)
Beginning balance (in shares) at Dec. 31, 2021	184,929			184,929
Exercise of stock options (in shares)	604
Net income (loss)	$ (103,913)
Ending balance at Jun. 30, 2022	$ 639,505			$ 19		1,535,106		(6,347)	(889,273)
Ending balance (in shares) at Jun. 30, 2022	188,430			188,430
Beginning balance at Mar. 31, 2022	$ 701,655			$ 19		1,523,616		(5,172)	(816,808)
Beginning balance (in shares) at Mar. 31, 2022				186,632
Vesting of restricted stock (in shares)				1,243
Exercise of stock options	571					571
Exercise of stock options (in shares)				320
Issuance of common stock related to employee stock purchase plan	1,008					1,008
Issuance of common stock related to employee stock purchase plan, Shares				235
Stock-based compensation expense	9,911					9,911
Unrealized loss on marketable securities, net	(1,175)							(1,175)
Net income (loss)	(72,465)								(72,465)
Ending balance at Jun. 30, 2022	$ 639,505			$ 19		$ 1,535,106		$ (6,347)	$ (889,273)
Ending balance (in shares) at Jun. 30, 2022	188,430			188,430

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Convertible Preferred Stock and Stockholders' Equity (Parenthetical) (Unaudited) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($)
IPO
Issuance of common stock in initial public offering, net of offering costs	$ 49,220

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		41 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022
OPERATING ACTIVITIES:
Net loss			$ (103,913)	$ (161,934)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	$ 3,800	$ 2,600	7,414	4,853
Stock-based compensation expense			17,666	9,099
Change in the estimated fair value of contingent consideration			(4,358)	18,556	$ 98,100
Change in the estimated fair value of success payment liabilities			(69,008)	32,469	31,100
Non-cash expense for operating lease right-of-use assets			5,682	2,838
Other non-cash items, net			(3,726)	(2,022)
Changes in operating assets and liabilities:
Prepaid expenses and other assets			(657)	(1,719)
Operating lease right-of-use assets and liabilities			111	3,386
Accounts payable			663	(373)
Accrued expenses and other liabilities			939	4,378
Net cash used in operating activities			(149,187)	(90,469)
INVESTING ACTIVITIES:
Purchases of marketable securities			(45,961)	(165,551)
Proceeds from maturities of marketable securities			148,160	195,914
Purchases of property and equipment			(11,924)	(16,596)
Net cash provided by investing activities			90,275	13,767
FINANCING ACTIVITIES:
Proceeds from initial public offering, net of issuance costs				626,405
Proceeds from employee stock purchase plan and exercise of stock options, net			2,231	631
Net cash provided by financing activities			2,231	627,036
Net increase (decrease) in cash, cash equivalents, and restricted cash			(56,681)	550,334
Cash, cash equivalents, and restricted cash at beginning of period			261,848	126,949
Cash, cash equivalents, and restricted cash at end of period	$ 205,167	$ 677,283	205,167	677,283	$ 205,167
SUPPLEMENTAL CASH FLOW INFORMATION:
Operating lease right-of-use assets obtained in exchange for lease obligations			21,073
Purchases of property and equipment included in accounts payable and accrued liabilities			3,346	3,414
Cash received for amounts related to tenant improvement allowances			541	$ 3,386
Remeasurement of operating lease right-of-use asset for lease modification			$ (12,801)

Organization

Organization	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Organization	1. Organization Sana Biotechnology, Inc. (the Company or Sana) is a biotechnology company focusing on utilizing engineered cells as medicines. The Company’s operations to date have included identifying and developing potential product candidates, executing preclinical studies, establishing manufacturing capabilities, acquiring technology, organizing and staffing the Company, developing and executing the Company’s business plan, establishing the Company’s intellectual property portfolio, raising capital, and providing general and administrative support for these operations. Liquidity and capital resources The Company is subject to a number of risks and uncertainties similar to other biotechnology companies in the development stage, including, but not limited to, those related to the need to obtain adequate additional funding, possible failure of preclinical testing or clinical trials, the need to obtain marketing approval for its product candidates, building out internal and external manufacturing capabilities, competitors developing new technological innovations, the need to successfully commercialize and gain market acceptance of the Company’s products, the need to protect the Company’s intellectual property and proprietary technologies, and the need to attract and retain key scientific and management personnel. If the Company does not successfully commercialize or partner any of its product candidates, it will be unable to generate product revenue or achieve profitability. Until such time as the Company can generate significant revenue from product sales, if ever, it expects to finance its operations with the proceeds from additional equity or debt financings or capital obtained in connection with strategic collaborations or licensing or other arrangements. In the event that additional financing is required, the Company may not be able to raise it on terms acceptable to it or at all. In February 2021, the Company successfully completed the initial public offering (IPO) of its common stock. In connection with the IPO, the Company issued 27.0 million shares of its common stock, including 3.5 million shares pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a price of $25.00 per share, and received $626.4 million in net proceeds, after deducting underwriting discounts and commissions of $45.2 million and offering expenses of $4.0 million. At the closing of the IPO, 134.1 million shares of convertible preferred stock then outstanding were automatically converted into shares of common stock. The related carrying value of the converted preferred stock of $852.9 million was reclassified to common stock and additional paid in-capital. The Company has incurred operating losses each year since inception and expects such losses to continue for the foreseeable future. As of June 30, 2022, the Company had cash, cash equivalents, and marketable securities of $579.6 million, and an accumulated deficit of $889.3 million, which includes cumulative non-cash charges related to the revaluation of the success payment liabilities and contingent consideration of $31.1 million and $98.1 million, respectively.

Basis of presentation and signi

Basis of presentation and significant accounting policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of presentation and significant accounting policies	2. Basis of presentation and significant accounting policies Basis of presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and include the accounts of the Company and its wholly-owned subsidiaries. Certain prior period amounts have been reclassified to conform to current period presentation. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (SEC) on March 16, 2022 (2021 Annual Report). Significant accounting policies The significant accounting policies used in the preparation of these condensed consolidated financial statements as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 are consistent with those discussed in Note 2 in the 2021 Annual Report. Use of estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could materially differ from those estimates. The most significant estimates in the Company’s condensed consolidated financial statements relate to success payment liabilities, contingent consideration, business combinations, accrued expenses, operating lease right-of-use assets and liabilities, and the valuation of stock options. Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed, the Company does not believe that the adoption of recently issued standards has had or may have a material impact on its condensed consolidated financial statements or disclosures.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2022
Business Combinations [Abstract]
Acquisitions	3. Acquisitions Cobalt Biomedicine, Inc. In February 2019, the Company acquired 100% of the outstanding equity in Cobalt Biomedicine, Inc. (Cobalt), a privately-held early-stage biotechnology company that was developing a platform technology using its fusogen technology to specifically and consistently deliver various biological payloads to cells. As part of the Cobalt acquisition, the Company recorded an intangible asset of $59.2 million, which consists of in-process research and development that is classified as indefinite-lived until the successful development of the associated research and development technology, at which point it becomes a finite-lived asset and will be amortized over its estimated useful life. If the research and development technology is abandoned, an impairment charge will be recorded. The Company is actively developing the fusogen technology and, accordingly, development of the intangible asset is not complete. Amortization will begin when regulatory approval is obtained in a major market, typically either the United States or the European Union. The Company recognized $140.6 million of goodwill as a result of the Cobalt acquisition, which is primarily attributable to the value the acquisition provides the Company by complementing the Company’s ex vivo in vivo Pursuant to the terms and conditions in the Cobalt acquisition agreement, the Company has an obligation to pay certain former Cobalt stockholders up to an aggregate of $500.0 million in contingent consideration (Cobalt Contingent Consideration) upon the achievement of certain pre-specified development milestones, and a success payment (Cobalt Success Payment) of up to $500.0 million, payable in cash or stock. The Cobalt Success Payment is payable if, at pre-determined valuation measurement dates which include the closing of the Company’s IPO and periodically thereafter, the Company’s market capitalization equals or exceeds $8.1 billion, and the Company is advancing a program based on the fusogen technology in a clinical trial pursuant to an investigational new drug application, or has filed for, or received approval for, a biologics license application or new drug application. The Cobalt Success Payment can be achieved over a maximum of 20 years from the date of the acquisition, but this period could be shorter upon the occurrence of certain events. As of June 30, 2022, a Cobalt Success Payment had not been triggered. A valuation measurement date would also be triggered upon a change of control of the Company if at least one Company product based on the fusogen technology is the subject of an active research program at the time of such change of control. If there is a change of control and the Company’s market capitalization is below $8.1 billion as of the date of the change of control, the amount of the potential Cobalt Success Payment will decrease, and the amount of potential Cobalt Contingent Consideration will increase. The following table sets forth various thresholds for the Company’s market capitalizations as of the date of a change of control and the resulting potential Cobalt Success Payment and additional potential Cobalt Contingent Consideration: Sana market capitalization upon a change of control and resulting impact to Cobalt Success Payment and additional potential Cobalt Contingent Consideration Cobalt Success Payment Additional potential Cobalt Contingent Consideration (in millions) Equal to or exceeds $8.1 billion $ 500 $ - Equal to or exceeds $7.4 billion, but less than $8.1 billion 150 350 Equal to or exceeds $6.8 billion, but less than $7.4 billion 100 400 Less than $6.8 billion - 500 The Cobalt Success Payment and Cobalt Contingent Consideration liabilities are carried at fair value, with changes in fair value recognized in the statements of operations in research and development related success payments and contingent consideration. As of June 30, 2022 and December 31, 2021, the estimated fair value of the Cobalt Success Payment liability was $29.5 million and $88.3 million, respectively, and was recorded in long-term liabilities in the balance sheets. In connection with the change in the estimated fair value of the Cobalt Success Payment, the Company recognized gains of $12.1 million and $66.6 million for the three months ended June 30, 2022 and 2021, respectively, and a gain of $58.9 million and expense of $25.1 million, for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, the estimated fair value of the Cobalt Contingent Consideration was $149.4 million, of which $51.4 million was recorded in short-term liabilities and $98.0 million was recorded in long-term liabilities in the balance sheet. As of December 31, 2021, the estimated fair value of the Cobalt Contingent Consideration was $153.7 million, of which $51.4 million was recorded in short-term liabilities and $102.3 million was recorded in long-term liabilities in the balance sheet. In connection with the change in the estimated fair value of the Cobalt Contingent Consideration, the Company recognized a gain of $3.8 million and an expense of $7.2 million for the three months ended June 30, 2022 and 2021, respectively, and a gain of $4.4 million and an expense of $18.6 million for the six months ended June 30, 2022 and 2021, respectively.

License and collaboration agree

License and collaboration agreements	6 Months Ended
	Jun. 30, 2022
License And Collaboration Agreements [Abstract]
License and Collaboration Agreements	4. License and collaboration agreements Beam Therapeutics Inc. In October 2021, the Company entered into an option and license agreement (Beam Agreement) with Beam Therapeutics Inc. (Beam), pursuant to which the Company was granted a non-exclusive license to use Beam’s proprietary CRISPR Cas12b nuclease editing technology to research, develop, and commercialize engineered cell therapy products that (i) are directed to certain antigen targets, with respect to the Company’s allogeneic T cell programs, or (ii) comprise certain human cell types, with respect to the Company’s stem cell-derived programs. The Company made an upfront cash payment of $50.0 million to Beam, which was recorded in research and development expense for the year ended December 31, 2021. Additionally, under the terms of the agreement, the Company may be obligated to pay up to $65.0 million for each licensed product in specified developmental and commercial milestone payments and royalties on licensed products. A member of the Company’s board of directors was, at the time of entry into the Beam Agreement, a beneficial owner of Beam, and is affiliated with a member of the board of directors of Beam. President and Fellows of Harvard College In March 2019, the Company entered into an exclusive license agreement with the President and Fellows of Harvard College (Harvard) to access certain intellectual property for the development of hypoimmune cells. Under the terms of the agreement, the Company may be required to pay to Harvard up to an aggregate of $175.0 million in success payments, payable in cash, based on increases in the fair value of the Company’s common stock (Harvard Success Payments). The potential Harvard Success Payments are based on multiples of increased value ranging from 5x to 40x, based on a comparison of the fair market value of the Company’s common stock relative to the original issuance price of $4.00 per share at pre-determined valuation measurement dates which include dates occurring subsequent to the IPO, the date of the consummation of a merger, an asset sale, or the sale of the majority of the shares held by the Company’s Series A convertible preferred stockholders, and the last day of the term of the Harvard Success Payments. As of June 30, 2022, a Harvard Success Payment had not been triggered. The aggregate amount of the Harvard Success Payments will not exceed an aggregate of $175.0 million, which payment amount would only occur upon a 40x increase in the fair value of the Company’s common stock based on a comparison of the fair market value of the Company’s common stock relative to the original issuance price of $4.00 per share. If a higher success payment tier is first met at the same time a lower tier is first met, both tiers will be owed. Any previous success payments made to Harvard would be credited against the success payment owed as of any valuation measurement date so that Harvard does not receive multiple success payments in connection with the same threshold. The Harvard Success Payments can be achieved over a maximum of 12 years from the effective date of the agreement. The following table summarizes the potential success payments and common stock price required for payment: Multiple of Equity Value at Issuance 5x 10x 20x 30x 40x Per share common stock price required for payment $ 20.00 $ 40.00 $ 80.00 $ 120.00 $ 160.00 Success payment(s) (in millions) $ 5.0 $ 15.0 $ 30.0 $ 50.0 $ 75.0 The Harvard Success Payment liabilities are carried at fair value, with changes in fair value recognized in the statements of operations in research and development related success payments and contingent consideration. As of June 30, 2022, the estimated fair value of the Harvard Success Payment liability was $4.1 million, which was recorded in long-term liabilities in the balance sheet. As of December 31, 2021, the estimated fair value of the Harvard Success Payment liability was $14.2 million, of which $5.0 million was recorded in short-term liabilities and $9.2 million was recorded in long-term liabilities in the balance sheet. In connection with the change in the estimated fair value of the Harvard Success Payment liability, the Company recognized gains of $2.0 million and $16.6 million, respectively, for the three months ended June 30, 2022 and 2021, respectively, and a gain of $10.1 million and an expense of $7.3 million for the six months ended June 30, 2022 and 2021, respectively.

Restricted Cash

Restricted Cash	6 Months Ended
	Jun. 30, 2022
Restricted Cash And Cash Equivalents [Abstract]
Restricted Cash	5. Restricted cash As of June 30, 2022 and December 31, 2021, the Company maintained standby letters of credit of $10.5 million and $8.8 million, respectively, which are collateralized with a bank account at a financial institution in accordance with the applicable lease agreements. The Company’s letter of credit related to the lease in Fremont, CA will reduce from $6.7 million to $0.5 million in July 2023.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	6. Fair value measurements The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis based on the three-tier fair value hierarchy: June 30, 2022 Valuation Hierarchy Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value (in thousands) Financial assets: Cash equivalents: Money market funds Level 1 $ 134,923 $ - $ - $ 134,923 U.S. government and agency securities Level 2 46,941 - (7 ) 46,934 Corporate debt securities Level 2 450 - - 450 Total cash equivalents 182,314 - (7 ) 182,307 Short-term marketable securities: U.S. government and agency securities Level 2 240,016 - (3,198 ) 236,818 Corporate debt securities Level 2 53,845 - (520 ) 53,325 Total short-term marketable securities 293,861 - (3,718 ) 290,143 Long-term marketable securities: U.S. government and agency securities Level 2 87,007 4 (2,317 ) 84,694 Corporate debt securities Level 2 10,379 - (309 ) 10,070 Total long-term marketable securities 97,386 4 (2,626 ) 94,764 Other assets Level 3 377 - - 377 Total financial assets $ 573,938 $ 4 $ (6,351 ) $ 567,591 Financial liabilities: Short-term financial liabilities: Contingent consideration Level 3 $ 51,386 $ 51,386 Total short-term financial liabilities 51,386 - - 51,386 Long-term financial liabilities: Contingent consideration Level 3 97,999 97,999 Success payment liabilities Level 3 33,517 33,517 Total long-term financial liabilities 131,516 - - 131,516 Total financial liabilities $ 182,902 $ - $ - $ 182,902 December 31, 2021 Valuation Hierarchy Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value (in thousands) Financial assets: Cash equivalents: Money market funds Level 1 $ 224,671 $ - $ - $ 224,671 Corporate debt securities Level 2 2,345 - - 2,345 Total cash equivalents 227,016 - - 227,016 Short-term marketable securities: U.S. government and agency securities Level 2 162,854 1 (195 ) 162,660 Corporate debt securities Level 2 135,441 - (134 ) 135,307 Total short-term marketable securities 298,295 1 (329 ) 297,967 Long-term marketable securities: U.S. government and agency securities Level 2 176,492 - (925 ) 175,567 Corporate debt securities Level 2 20,427 - (113 ) 20,314 Total long-term marketable securities 196,919 - (1,038 ) 195,881 Other assets Level 3 426 - - 426 Total financial assets $ 722,656 $ 1 $ (1,367 ) $ 721,290 Financial liabilities: Short-term financial liabilities: Contingent consideration Level 3 $ 51,382 $ - $ - $ 51,382 Success payment liabilities Level 3 5,000 - - 5,000 Total short-term financial liabilities 56,382 - - 56,382 Long-term financial liabilities: Contingent consideration Level 3 102,361 - - 102,361 Success payment liabilities Level 3 97,525 - - 97,525 Total long-term financial liabilities 199,886 - - 199,886 Total financial liabilities $ 256,268 $ - $ - $ 256,268 The Company measures the fair value of money market funds based on quoted prices in active markets for identical assets or liabilities. The Level 2 marketable securities include U.S. government, agency securities, and corporate debt securities and are valued based on either recent trades of securities in inactive markets or quoted market prices of similar instruments and other significant inputs derived from or corroborated by observable market data. The following table summarizes available-for-sale debt securities in a continuous unrealized loss position for less than and greater than twelve months, for the periods presented (in thousands): Less than 12 months 12 months or greater Total Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses June 30, 2022 U.S. government and agency securities $ 361,551 $ (5,522 ) $ - $ - $ 361,551 $ (5,522 ) Corporate debt securities 60,349 (821 ) 3,046 (8 ) 63,395 (829 ) Total $ 421,900 $ (6,343 ) $ 3,046 $ (8 ) $ 424,946 $ (6,351 ) December 31, 2021 U.S. government and agency securities $ 329,883 $ (1,120 ) $ - $ - $ 329,883 $ (1,120 ) Corporate debt securities 156,662 (247 ) - - 156,662 (247 ) Total $ 486,545 $ (1,367 ) $ - $ - $ 486,545 $ (1,367 ) As of June 30, 2022 and December 31, 2021, the fair value of securities held by the Company in an unrealized loss position were $424.9 million and $486.5 million, respectively. As of June 30, 2022, there was one security held by the Company in an unrealized loss position that had been in an unrealized loss position over 12 months, and no securities in an unrealized loss position over 12 months as of December 31, 2021 . The Company determined that there was no material change in the credit risk of the investments described above during the three and six months ended June 30 , 2022 . As such, an allowance for credit losses has no t be en recognized. As of June 30 , 2022 , the Company does not intend to sell such securities, and it is not more-likely-than-not that the Company will be required to sell the securities prior to the recovery of the amortized cost basis. As of June 30, 2022, all marketable securities had an effective maturity date of two years or less. Investments in securities with maturities of less than one year, or those for which management intends to use to fund current operations, are included in current assets and classified as available-for-sale. As of June 30, 2022, the balance in accumulated other comprehensive loss included the net unrealized losses related to the Company’s available-for-sale debt securities. There were no material realized gains or losses recognized on the maturity of available-for-sale securities during the three and six months ended June 30, 2022 or 2021. The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial liabilities: Contingent Consideration Cobalt Success Payment Liability Harvard Success Payment Liability (in thousands) Balance as of December 31, 2021 $ 153,743 $ 88,353 $ 14,172 Changes in fair value - gain (528 ) (46,823 ) (8,087 ) Balance as of March 31, 2022 153,215 41,530 6,085 Changes in fair value - gain (3,830 ) (12,073 ) (2,025 ) Balance as of June 30, 2022 $ 149,385 $ 29,457 $ 4,060 Contingent consideration The Company utilizes significant estimates and assumptions it believes would be made by a market participant in determining the estimated fair value of the Cobalt Contingent Consideration at each balance sheet date. The fair value of the Cobalt Contingent Consideration was determined by calculating the probability-weighted estimated value of the pre-specified development milestone payments based on the assessment of the likelihood and estimated timing that the milestones would be achieved and the applicable discount rates. The discount rate captures the credit risk associated with the payment of the contingent consideration when earned and due. The Company assesses these estimates on an ongoing basis as additional data impacting the assumptions are obtained. The fair value of the Cobalt Contingent Consideration was calculated using the following unobservable inputs: June 30, 2022 December 31, 2021 Unobservable Input Range Weighted-Average Range Weighted-Average Discount rates 14.5% - 15.6% 15.1% 10.9% - 11.6% 11.2% Probability of milestone achievement 5.0% - 75.0% 33.8% 5.0% - 75.0% 33.8% The weighted-average unobservable inputs were calculated based on the relative value of the pre-specified development milestones. The estimated fair value of the Cobalt Contingent Consideration may change significantly as development progresses and additional data are obtained, impacting the assumptions regarding probabilities of successful achievement of the milestones used to estimate the fair value of the liability and the timing in which they are expected to be achieved. In evaluating the fair value assumptions, judgment is required to interpret the market data used to develop the estimates. The estimates of fair value may not be indicative of the amounts that could be realized in a current market exchange. Accordingly, the use of different market assumptions, inputs and/or different valuation techniques could result in materially different fair value estimates. Success payments The Company utilizes significant estimates and assumptions in determining the estimated fair value of the success payment liabilities and the associated expense or gain at each balance sheet date. The estimated fair value of the Cobalt and Harvard success payment liabilities was determined using a Monte Carlo simulation methodology, which models the estimated fair value of the liability based on several key assumptions, including: expected volatility, remaining term, risk-free interest rate, estimated number and timing of valuation measurement dates on the basis of which payment may be triggered, and for the Cobalt Success Payment, the Company’s market capitalization, and for the Harvard Success Payments, the per share fair value of the Company’s common stock. The fair values of the Cobalt and Harvard success payment liabilities were calculated using the following unobservable inputs: June 30, 2022 December 31, 2021 Unobservable Input Cobalt Harvard Cobalt Harvard Expected stock price volatility 70% 70% 70% 70% Expected term (years) 16.6 8.7 17.1 9.2

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2022
Property Plant And Equipment [Abstract]
Property and Equipment, Net	7. Property and equipment, net Property and equipment, net consists of the following: June 30, 2022 December 31, 2021 (in thousands) Laboratory equipment $ 57,648 $ 47,684 Leasehold improvements 33,924 33,848 Construction in progress 303 1,388 Computer equipment, software, and other 2,159 1,318 Total property and equipment, at cost 94,034 84,238 Less: Accumulated depreciation (26,188 ) (18,774 ) Property and equipment, net $ 67,846 $ 65,464 Depreciation expense was $3.8 million and $2.6 million for the three months ended June 30, 2022 and 2021, respectively, and $7.4 million and $4.9 million for the six months ended June 30, 2022 and 2021, respectively.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2022
Payables And Accruals [Abstract]
Accrued liabilities	8. Accrued liabilities Accrued compensation and accrued expenses and other current liabilities consist of the following: June 30, 2022 December 31, 2021 (in thousands) Accrued compensation: Accrued bonuses $ 9,074 $ 13,814 Accrued paid time off 5,787 4,429 Accrued payroll 3,130 2,888 Total accrued compensation $ 17,991 $ 21,131 Accrued expenses and other current liabilities: Accrued research and development services $ 6,398 $ 3,419 Accrued property and equipment 2,367 2,566 Accrued professional fees 1,586 1,971 Other accrued current liabilities 3,634 2,388 Total accrued expenses and other current liabilities $ 13,985 $ 10,344

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and contingencies Lease commitments The Company’s lease portfolio primarily comprises operating leases for office, laboratory, non-good manufacturing practices (GMP) pilot plant manufacturing, and industrial space. These leases contain various rent abatement periods, after which they require monthly lease payments that may be subject to annual increases throughout the lease term. Certain leases include options to extend the term. The renewal option is considered in the remaining lease term for the lease only when the Company is reasonably certain it will renew the lease. Certain leases provide the Company with the right to make tenant improvements, including the addition of laboratory space or build-out of manufacturing capabilities, and include a lease incentive allowance. In June 2022, the Company entered into a lease agreement for 79,565 square feet of office, laboratory and industrial space located in Bothell, WA (the Bothell facility). The initial term of the lease is 16 years from the date the premises are delivered to the Company for construction of certain tenant improvements and includes the option to extend the lease for up to three additional five-year terms. The lease agreement also provides for up to $19.9 million for reimbursement of tenant improvements, as well as an additional $8.0 million for tenant improvements, available at the Company’s election, which the Company would be obligated to repay to the landlord monthly over the initial term of the lease with interest at a rate of 6.5% per annum. The Company plans to establish and develop its manufacturing operations at the Bothell facility rather than the facility in Fremont, CA (the Fremont facility). The original right-of-use asset and lease liability for the Fremont facility was calculated assuming the Company would exercise its option to renew the lease for two additional five-year terms. The Company remeasured the lease for the Fremont facility due to the shorter lease term, which resulted in a $12.8 million reduction in the related right-of-use asset and lease liability. Additionally, for the three and six months ended June 30, 2022, the Company wrote-off $4.5 million of construction in progress costs incurred in connection with the Fremont facility in general and administrative expense in the statement of operations. The following table contains additional information related to the Company’s operating leases: Location Use Approximate Square Footage Commencement Dates Expiration Dates Seattle, WA Office/Laboratory 48,000 March 2019 to September 2020 December 2026 to April 2028 Cambridge, MA Office/Laboratory 60,000 March 2019 to May 2020 November 2025 to February 2028 South San Francisco, CA Office/Laboratory 100,000 December 2019 to April 2022 April 2024 to April 2030 Fremont, CA Industrial 163,000 July 2021 November 2031 Rochester, NY Office/Laboratory 3,000 January 2022 January 2025 Bothell, WA Office/Laboratory/Industrial 80,000 January 2023 December 2038 Throughout the term of each of the lease agreements, the Company is responsible for paying certain operating costs, such as common area maintenance, taxes, utilities, and insurance, in addition to base rent. These additional charges are considered variable lease costs and are recognized in the period in which the costs are incurred. The following table summarizes the Company’s lease costs: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Operating lease cost $ 6,066 $ 4,167 $ 11,546 $ 7,065 Short-term lease cost - - - 512 Variable lease cost 1,903 1,642 3,392 2,729 Total lease cost $ 7,969 $ 5,809 $ 14,938 $ 10,306 As of June 30, 2022, the weighted-average remaining lease term was 6.7 years and the weighted-average incremental borrowing rate was 9.63%. The following table reconciles the Company’s undiscounted operating lease cash flows by fiscal year, as of June 30, 2022 (in thousands): 2022 (remaining 6 months) $ 10,855 2023 25,113 2024 24,326 2025 24,302 2026 21,183 2027 and thereafter 55,102 Total undiscounted lease payments 160,881 Less: imputed interest (44,380 ) Less: tenant improvement allowances (2,874 ) Present value of operating lease liabilities 113,627 Less: current portion of operating lease liabilities (10,667 ) Operating lease liabilities, net of current portion $ 102,960

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Stockholders' Equity	10. Stockholders’ equity The Company amended and restated its certificate of incorporation, effective February 2021, increasing the number of shares of all classes of stock the Company has authority to issue to 800.0 million shares, of which 750.0 million shares are common stock, and 50.0 million shares are preferred stock. As of June 30, 2022, there were 188.4 million shares of the Company’s common stock outstanding, excluding 1.7 million shares of restricted common stock outstanding that are subject to vesting requirements.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-based compensation	11. Stock-based compensation Equity incentive plans In February 2021, the Company adopted the 2021 Incentive Award Plan (2021 Plan) and the 2021 Employee Stock Purchase Plan (2021 ESPP), both of which became effective on the completion of the Company’s IPO. The 2021 Plan provides for a variety of stock-based compensation awards, including stock options, restricted stock awards (RSAs), and restricted stock units (RSUs). The 2021 ESPP allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions of up to 15% of their earnings, subject to plan limitations. Unless otherwise determined by the Company’s board of directors, employees may purchase shares at 85% of the lower of the fair market value of the Company’s common stock on the first date of an offering period or on the purchase date. As of June 30, 2022, 13.0 million shares and 3.6 million shares were available for future issuance under the 2021 Plan and the 2021 ESPP, respectively. Stock-based compensation expense Stock-based compensation expense is recognized in the statements of operations as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Research and development $ 7,408 $ 3,148 $ 13,120 $ 5,816 General and administrative 2,503 1,793 4,546 3,283 Total stock-based compensation expense $ 9,911 $ 4,941 $ 17,666 $ 9,099 Unrecognized stock-based compensation costs related to unvested awards and the weighted-average period over which the costs are expected to be recognized as of June 30, 2022 are as follows: Stock Options RSAs RSUs Unrecognized stock-based compensation expense (in thousands) $ 97,546 $ 1,181 $ 5,374 Weighted-average period costs expected to be recognized (in years) 3.0 1.1 2.8 Stock options A summary of the Company’s stock option activity is as follows: Stock Options (in thousands) Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding as of December 31, 2021 17,337 $ 8.96 8.7 $ 141,718 Granted 9,853 5.98 Exercised (604 ) 2.02 Forfeited/Cancelled (970 ) 11.11 Outstanding as of June 30, 2022 25,616 $ 7.90 8.8 $ 33,123 Exercisable as of June 30, 2022 5,889 $ 6.02 7.9 $ 14,418 The fair value of stock options granted to employees, directors, and consultants was estimated on the date of grant using the Black-Scholes option pricing model using the following assumptions: Six Months Ended June 30, Assumptions 2022 2021 Risk free interest rate 1.56% - 3.36% 0.46% - 1.14% Expected volatility 70% 70% Expected term (years) 5.50 - 6.25 5.50 - 6.25 Expected dividend 0% 0% The following table summarizes additional information related to stock option activity: Six Months Ended June 30, 2022 2021 Weighted average grant date fair value per share for options granted $ 3.83 $ 15.30 Aggregate intrinsic value of stock options exercised (in thousands) $ 3,917 $ 9,464 Restricted stock A summary of the Company’s restricted stock activity is as follows: RSAs (in thousands) RSAs Weighted-Average Grant Date Fair Value per Share RSUs (in thousands) RSUs Weighted-Average Grant Date Fair Value per Share Unvested shares as of December 31, 2021 4,365 $ 0.43 141 $ 9.43 Granted - - 871 6.27 Vested (2,630 ) 0.25 (32 ) 3.31 Forfeited (29 ) - (69 ) 4.67 Unvested shares as of June 30, 2022 1,706 $ 0.72 911 $ 6.99 The fair value of RSAs vested during the six months ended June 30, 2022 and 2021 was $0.7 million and $0.7 million, respectively. The fair value of RSUs vested during the six months ended June 30, 2022 and 2021 was $0.2 million and $0, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	12. Income taxes The Company’s income tax provision for interim periods is determined using an estimate of the Company’s annual effective tax rate, adjusted for discrete items arising in the quarter. The Company’s effective tax rate differs from the U.S. statutory tax rate primarily due to a valuation allowance on the deferred tax assets. Deferred tax assets and deferred tax liabilities are recognized based on temporary differences between the financial reporting and tax basis of assets and liabilities using statutory rates. A valuation allowance is recorded against deferred tax assets if it is more likely than not that some or all of the deferred tax assets will not be realized. Due to the uncertainty surrounding the realization of the favorable tax attributes in future tax returns, the Company has recorded a full valuation allowance against the Company’s otherwise recognizable net deferred tax assets. The Company applies judgment in its determination of the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. As of June 30, 2022 and December 31, 2021, the Company’s uncertain tax positions were immaterial.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	13. Net income (loss) per share Basic and diluted earnings per share are computed using the two-class method, which is an allocation of earnings between the holders of common stock and a company’s participating security holders. The Company’s unvested restricted stock awards are considered participating securities because they are legally issued at the grant date and holders have a non-forfeitable right to receive dividends. Basic net income ( loss ) per common share is calculated by dividing net income ( loss ) by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. Diluted earnings per share is computed by dividing net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, increased to include the number of shares of common stock that would have been outstanding had potential dilutive shares of common stock been issued. The dilutive effect of restricted stock units and stock options are reflected in diluted earnings per share by applying the treasury stock method. The following table summarizes the calculation of basic and diluted net income (loss) per share of common stock: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands, except per share amounts) Basic earnings per common share: Net income (loss) $ (72,465 ) $ 18,683 $ (103,913 ) $ (161,934 ) Less: net income allocated to participating securities (1) - (749 ) - - Net income (loss) attributable to common stockholders $ (72,465 ) $ 17,934 $ (103,913 ) $ (161,934 ) Weighted-average number of common shares - basic 187,626 179,899 186,801 149,683 Basic earnings (loss) per common share $ (0.39 ) $ 0.10 $ (0.56 ) $ (1.08 ) Diluted earnings per common share: Net income (loss) $ (72,465 ) $ 18,683 $ (103,913 ) $ (161,934 ) Less: net income allocated to participating securities (1) - (749 ) - - Net income (loss) attributable to common stockholders $ (72,465 ) $ 17,934 $ (103,913 ) $ (161,934 ) Weighted-average number of common shares - basic 187,626 179,899 186,801 149,683 Effect of dilutive securities: Stock options and restricted stock units - 10,609 - - Weighted-average number of common shares - diluted 187,626 190,508 186,801 149,683 Diluted earnings (loss) per common share $ (0.39 ) $ 0.09 $ (0.56 ) $ (1.08 ) (1) Restricted stock awards granted to employees by the Company are considered participating securities. The following securities were excluded from the calculation of net income (loss) per diluted share of common stock for periods presented as their effect would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Options to purchase common stock 25,616 1,553 25,616 16,442 Unvested restricted common stock 1,706 - 1,706 7,213 Unvested RSUs 911 - 911 328 Total 28,233 1,553 28,233 23,983

Basis of presentation and sig_2

Basis of presentation and significant accounting policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (GAAP) and include the accounts of the Company and its wholly-owned subsidiaries. Certain prior period amounts have been reclassified to conform to current period presentation. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 filed with the Securities and Exchange Commission (SEC) on March 16, 2022 (2021 Annual Report).
Significant accounting policies	Significant accounting policies The significant accounting policies used in the preparation of these condensed consolidated financial statements as of June 30, 2022 and for the three and six months ended June 30, 2022 and 2021 are consistent with those discussed in Note 2 in the 2021 Annual Report.
Use of estimates	Use of estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could materially differ from those estimates. The most significant estimates in the Company’s condensed consolidated financial statements relate to success payment liabilities, contingent consideration, business combinations, accrued expenses, operating lease right-of-use assets and liabilities, and the valuation of stock options.
Recent accounting pronouncements	Recent accounting pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies that the Company adopts as of the specified effective date. Unless otherwise discussed, the Company does not believe that the adoption of recently issued standards has had or may have a material impact on its condensed consolidated financial statements or disclosures.

Acquisitions - (Tables)

Acquisitions - (Tables)	6 Months Ended
	Jun. 30, 2022
Cobalt Biomedicine Inc
Business Acquisition [Line Items]
Schedule of Various Thresholds for Market Capitalizations Resulting Potential Success Payment and Additional Potential Contingent Consideration	The following table sets forth various thresholds for the Company’s market capitalizations as of the date of a change of control and the resulting potential Cobalt Success Payment and additional potential Cobalt Contingent Consideration: Sana market capitalization upon a change of control and resulting impact to Cobalt Success Payment and additional potential Cobalt Contingent Consideration Cobalt Success Payment Additional potential Cobalt Contingent Consideration (in millions) Equal to or exceeds $8.1 billion $ 500 $ - Equal to or exceeds $7.4 billion, but less than $8.1 billion 150 350 Equal to or exceeds $6.8 billion, but less than $7.4 billion 100 400 Less than $6.8 billion - 500

License and collaboration agr_2

License and collaboration agreements (Tables)	6 Months Ended
	Jun. 30, 2022
License And Collaboration Agreements [Abstract]
Summary of Potential Success Payments	The following table summarizes the potential success payments and common stock price required for payment: Multiple of Equity Value at Issuance 5x 10x 20x 30x 40x Per share common stock price required for payment $ 20.00 $ 40.00 $ 80.00 $ 120.00 $ 160.00 Success payment(s) (in millions) $ 5.0 $ 15.0 $ 30.0 $ 50.0 $ 75.0

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Assets and Liabilities Measured on Recurring Basis	The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis based on the three-tier fair value hierarchy: June 30, 2022 Valuation Hierarchy Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value (in thousands) Financial assets: Cash equivalents: Money market funds Level 1 $ 134,923 $ - $ - $ 134,923 U.S. government and agency securities Level 2 46,941 - (7 ) 46,934 Corporate debt securities Level 2 450 - - 450 Total cash equivalents 182,314 - (7 ) 182,307 Short-term marketable securities: U.S. government and agency securities Level 2 240,016 - (3,198 ) 236,818 Corporate debt securities Level 2 53,845 - (520 ) 53,325 Total short-term marketable securities 293,861 - (3,718 ) 290,143 Long-term marketable securities: U.S. government and agency securities Level 2 87,007 4 (2,317 ) 84,694 Corporate debt securities Level 2 10,379 - (309 ) 10,070 Total long-term marketable securities 97,386 4 (2,626 ) 94,764 Other assets Level 3 377 - - 377 Total financial assets $ 573,938 $ 4 $ (6,351 ) $ 567,591 Financial liabilities: Short-term financial liabilities: Contingent consideration Level 3 $ 51,386 $ 51,386 Total short-term financial liabilities 51,386 - - 51,386 Long-term financial liabilities: Contingent consideration Level 3 97,999 97,999 Success payment liabilities Level 3 33,517 33,517 Total long-term financial liabilities 131,516 - - 131,516 Total financial liabilities $ 182,902 $ - $ - $ 182,902 December 31, 2021 Valuation Hierarchy Amortized Cost Gross Unrealized Holding Gains Gross Unrealized Holding Losses Estimated Fair Value (in thousands) Financial assets: Cash equivalents: Money market funds Level 1 $ 224,671 $ - $ - $ 224,671 Corporate debt securities Level 2 2,345 - - 2,345 Total cash equivalents 227,016 - - 227,016 Short-term marketable securities: U.S. government and agency securities Level 2 162,854 1 (195 ) 162,660 Corporate debt securities Level 2 135,441 - (134 ) 135,307 Total short-term marketable securities 298,295 1 (329 ) 297,967 Long-term marketable securities: U.S. government and agency securities Level 2 176,492 - (925 ) 175,567 Corporate debt securities Level 2 20,427 - (113 ) 20,314 Total long-term marketable securities 196,919 - (1,038 ) 195,881 Other assets Level 3 426 - - 426 Total financial assets $ 722,656 $ 1 $ (1,367 ) $ 721,290 Financial liabilities: Short-term financial liabilities: Contingent consideration Level 3 $ 51,382 $ - $ - $ 51,382 Success payment liabilities Level 3 5,000 - - 5,000 Total short-term financial liabilities 56,382 - - 56,382 Long-term financial liabilities: Contingent consideration Level 3 102,361 - - 102,361 Success payment liabilities Level 3 97,525 - - 97,525 Total long-term financial liabilities 199,886 - - 199,886 Total financial liabilities $ 256,268 $ - $ - $ 256,268
Summary of Estimated Fair Value Available For Sale Debt Securities Continuous Unrealized Loss Position	The following table summarizes available-for-sale debt securities in a continuous unrealized loss position for less than and greater than twelve months, for the periods presented (in thousands): Less than 12 months 12 months or greater Total Fair value Unrealized losses Fair value Unrealized losses Fair value Unrealized losses June 30, 2022 U.S. government and agency securities $ 361,551 $ (5,522 ) $ - $ - $ 361,551 $ (5,522 ) Corporate debt securities 60,349 (821 ) 3,046 (8 ) 63,395 (829 ) Total $ 421,900 $ (6,343 ) $ 3,046 $ (8 ) $ 424,946 $ (6,351 ) December 31, 2021 U.S. government and agency securities $ 329,883 $ (1,120 ) $ - $ - $ 329,883 $ (1,120 ) Corporate debt securities 156,662 (247 ) - - 156,662 (247 ) Total $ 486,545 $ (1,367 ) $ - $ - $ 486,545 $ (1,367 )
Changes in Estimated Fair Value of Level 3 Financial Liabilities	The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial liabilities: Contingent Consideration Cobalt Success Payment Liability Harvard Success Payment Liability (in thousands) Balance as of December 31, 2021 $ 153,743 $ 88,353 $ 14,172 Changes in fair value - gain (528 ) (46,823 ) (8,087 ) Balance as of March 31, 2022 153,215 41,530 6,085 Changes in fair value - gain (3,830 ) (12,073 ) (2,025 ) Balance as of June 30, 2022 $ 149,385 $ 29,457 $ 4,060
Success Payment Liabilities
Summary of Estimated Fair Value of Liabilities using Unobservable Inputs	The fair values of the Cobalt and Harvard success payment liabilities were calculated using the following unobservable inputs: June 30, 2022 December 31, 2021 Unobservable Input Cobalt Harvard Cobalt Harvard Expected stock price volatility 70% 70% 70% 70% Expected term (years) 16.6 8.7 17.1 9.2
Cobalt Contingent Consideration
Summary of Estimated Fair Value of Liabilities using Unobservable Inputs	The fair value of the Cobalt Contingent Consideration was calculated using the following unobservable inputs: June 30, 2022 December 31, 2021 Unobservable Input Range Weighted-Average Range Weighted-Average Discount rates 14.5% - 15.6% 15.1% 10.9% - 11.6% 11.2% Probability of milestone achievement 5.0% - 75.0% 33.8% 5.0% - 75.0% 33.8%

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2022
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consists of the following: June 30, 2022 December 31, 2021 (in thousands) Laboratory equipment $ 57,648 $ 47,684 Leasehold improvements 33,924 33,848 Construction in progress 303 1,388 Computer equipment, software, and other 2,159 1,318 Total property and equipment, at cost 94,034 84,238 Less: Accumulated depreciation (26,188 ) (18,774 ) Property and equipment, net $ 67,846 $ 65,464

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Payables And Accruals [Abstract]
Schedule of Accrued Compensation and Accrued Expenses and Other Current Liabilities	Accrued compensation and accrued expenses and other current liabilities consist of the following: June 30, 2022 December 31, 2021 (in thousands) Accrued compensation: Accrued bonuses $ 9,074 $ 13,814 Accrued paid time off 5,787 4,429 Accrued payroll 3,130 2,888 Total accrued compensation $ 17,991 $ 21,131 Accrued expenses and other current liabilities: Accrued research and development services $ 6,398 $ 3,419 Accrued property and equipment 2,367 2,566 Accrued professional fees 1,586 1,971 Other accrued current liabilities 3,634 2,388 Total accrued expenses and other current liabilities $ 13,985 $ 10,344

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Schedule of Additional Information Related to Operating Leases	The following table contains additional information related to the Company’s operating leases: Location Use Approximate Square Footage Commencement Dates Expiration Dates Seattle, WA Office/Laboratory 48,000 March 2019 to September 2020 December 2026 to April 2028 Cambridge, MA Office/Laboratory 60,000 March 2019 to May 2020 November 2025 to February 2028 South San Francisco, CA Office/Laboratory 100,000 December 2019 to April 2022 April 2024 to April 2030 Fremont, CA Industrial 163,000 July 2021 November 2031 Rochester, NY Office/Laboratory 3,000 January 2022 January 2025 Bothell, WA Office/Laboratory/Industrial 80,000 January 2023 December 2038
Summary of Lease Costs	The following table summarizes the Company’s lease costs: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Operating lease cost $ 6,066 $ 4,167 $ 11,546 $ 7,065 Short-term lease cost - - - 512 Variable lease cost 1,903 1,642 3,392 2,729 Total lease cost $ 7,969 $ 5,809 $ 14,938 $ 10,306
Reconciliation of Undiscounted Operating Lease Cash Flows by Fiscal Year to Present Value of Operating Lease Liabilities	The following table reconciles the Company’s undiscounted operating lease cash flows by fiscal year, as of June 30, 2022 (in thousands): 2022 (remaining 6 months) $ 10,855 2023 25,113 2024 24,326 2025 24,302 2026 21,183 2027 and thereafter 55,102 Total undiscounted lease payments 160,881 Less: imputed interest (44,380 ) Less: tenant improvement allowances (2,874 ) Present value of operating lease liabilities 113,627 Less: current portion of operating lease liabilities (10,667 ) Operating lease liabilities, net of current portion $ 102,960

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Stock Based Compensation Expense Recognized	Stock-based compensation expense is recognized in the statements of operations as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Research and development $ 7,408 $ 3,148 $ 13,120 $ 5,816 General and administrative 2,503 1,793 4,546 3,283 Total stock-based compensation expense $ 9,911 $ 4,941 $ 17,666 $ 9,099
Schedule of Unrecognized Stock-Based Compensation Costs Related to Unvested Awards and Weighted-Average Period Over Which Costs are Expected to be Recognized	Unrecognized stock-based compensation costs related to unvested awards and the weighted-average period over which the costs are expected to be recognized as of June 30, 2022 are as follows: Stock Options RSAs RSUs Unrecognized stock-based compensation expense (in thousands) $ 97,546 $ 1,181 $ 5,374 Weighted-average period costs expected to be recognized (in years) 3.0 1.1 2.8
Summary of Stock Option Activity	A summary of the Company’s stock option activity is as follows: Stock Options (in thousands) Weighted-Average Exercise Price per Share Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding as of December 31, 2021 17,337 $ 8.96 8.7 $ 141,718 Granted 9,853 5.98 Exercised (604 ) 2.02 Forfeited/Cancelled (970 ) 11.11 Outstanding as of June 30, 2022 25,616 $ 7.90 8.8 $ 33,123 Exercisable as of June 30, 2022 5,889 $ 6.02 7.9 $ 14,418
Schedule of Assumptions Used in Black-Scholes Option-Pricing Model for Estimating Fair Value of Stock Options Granted	The fair value of stock options granted to employees, directors, and consultants was estimated on the date of grant using the Black-Scholes option pricing model using the following assumptions: Six Months Ended June 30, Assumptions 2022 2021 Risk free interest rate 1.56% - 3.36% 0.46% - 1.14% Expected volatility 70% 70% Expected term (years) 5.50 - 6.25 5.50 - 6.25 Expected dividend 0% 0%
Summary of Additional Information Related to Stock Option Activity	The following table summarizes additional information related to stock option activity: Six Months Ended June 30, 2022 2021 Weighted average grant date fair value per share for options granted $ 3.83 $ 15.30 Aggregate intrinsic value of stock options exercised (in thousands) $ 3,917 $ 9,464
Summary of Restricted Stock Activity	A summary of the Company’s restricted stock activity is as follows: RSAs (in thousands) RSAs Weighted-Average Grant Date Fair Value per Share RSUs (in thousands) RSUs Weighted-Average Grant Date Fair Value per Share Unvested shares as of December 31, 2021 4,365 $ 0.43 141 $ 9.43 Granted - - 871 6.27 Vested (2,630 ) 0.25 (32 ) 3.31 Forfeited (29 ) - (69 ) 4.67 Unvested shares as of June 30, 2022 1,706 $ 0.72 911 $ 6.99

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted Net Income (Loss) Per Share of Common Stock	The following table summarizes the calculation of basic and diluted net income (loss) per share of common stock: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands, except per share amounts) Basic earnings per common share: Net income (loss) $ (72,465 ) $ 18,683 $ (103,913 ) $ (161,934 ) Less: net income allocated to participating securities (1) - (749 ) - - Net income (loss) attributable to common stockholders $ (72,465 ) $ 17,934 $ (103,913 ) $ (161,934 ) Weighted-average number of common shares - basic 187,626 179,899 186,801 149,683 Basic earnings (loss) per common share $ (0.39 ) $ 0.10 $ (0.56 ) $ (1.08 ) Diluted earnings per common share: Net income (loss) $ (72,465 ) $ 18,683 $ (103,913 ) $ (161,934 ) Less: net income allocated to participating securities (1) - (749 ) - - Net income (loss) attributable to common stockholders $ (72,465 ) $ 17,934 $ (103,913 ) $ (161,934 ) Weighted-average number of common shares - basic 187,626 179,899 186,801 149,683 Effect of dilutive securities: Stock options and restricted stock units - 10,609 - - Weighted-average number of common shares - diluted 187,626 190,508 186,801 149,683 Diluted earnings (loss) per common share $ (0.39 ) $ 0.09 $ (0.56 ) $ (1.08 ) (1) Restricted stock awards granted to employees by the Company are considered participating securities.
Anti-dilutive Securities Excluded from Calculation of Diluted Net Income (Loss) Per Share	The following securities were excluded from the calculation of net income (loss) per diluted share of common stock for periods presented as their effect would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 (in thousands) Options to purchase common stock 25,616 1,553 25,616 16,442 Unvested restricted common stock 1,706 - 1,706 7,213 Unvested RSUs 911 - 911 328 Total 28,233 1,553 28,233 23,983

Organization - Additional Infor

Organization - Additional Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended	6 Months Ended		41 Months Ended
	Feb. 28, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Dec. 31, 2020
Description Of Organization [Line Items]
Proceeds from public offering of common stock, net of offering costs				$ 626,405
Accumulated deficit			$ 889,273		$ 889,273	$ 785,360
Cash, cash equivalents and marketable securities			579,600		579,600
Success payment liabilities			(69,008)	32,469	31,100
Contingent consideration			$ (4,358)	$ 18,556	$ 98,100
Convertible Preferred Stock
Description Of Organization [Line Items]
Outstanding convertible preferred stock (in shares)							134,113
Common Stock
Description Of Organization [Line Items]
Conversion of preferred stock into common stock (in shares)		134,113
IPO
Description Of Organization [Line Items]
Outstanding convertible preferred stock (in shares)	134,100
IPO | Convertible Preferred Stock
Description Of Organization [Line Items]
Conversion of preferred stock into common stock (in shares)	134,100
Carrying value of converted preferred stock	$ 852,900
IPO | Common Stock
Description Of Organization [Line Items]
Issuance of common stock in initial public offering, net of offering costs (in shares)	27,000	27,025
Common stock price per share	$ 25
Proceeds from public offering of common stock, net of offering costs	$ 626,400
Payments of underwriting discounts and commissions	45,200
Offering expenses	$ 4,000
Underwriters' Option To Purchase Additional Shares | Common Stock
Description Of Organization [Line Items]
Issuance of common stock in initial public offering, net of offering costs (in shares)	3,500

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		41 Months Ended
	Feb. 28, 2019	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 140,627,000		$ 140,627,000		$ 140,627,000	$ 140,627,000
Estimated fair value of contingent consideration, short term liabilities		51,386,000		51,386,000		51,386,000	51,382,000
Estimated fair value of contingent consideration, long-term liabilities		97,999,000		97,999,000		97,999,000	102,361,000
Contingent consideration				(4,358,000)	$ 18,556,000	98,100,000
Acquisition Agreement | Cobalt Biomedicine Inc
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired	100%
Business combination, intangible assets	$ 59,200,000
Goodwill	140,600,000
Business acquisition, impairment of intangible assets or goodwill	0
Maximum contingent consideration upon achievement of certain pre-specified development milestones	$ 500,000,000
Maximum period expected to achieve for success payments	20 years
Acquisition Agreement | Cobalt Biomedicine Inc | Research and Development Expense
Business Acquisition [Line Items]
Estimated fair value of contingent consideration		149,400,000		149,400,000		149,400,000	153,700,000
Estimated fair value of contingent consideration, short term liabilities		51,400,000		51,400,000		51,400,000	51,400,000
Estimated fair value of contingent consideration, long-term liabilities		98,000,000		98,000,000		98,000,000	102,300,000
Change in estimated fair value of success payment		12,100,000	$ 66,600,000	58,900,000	(25,100,000)
Contingent consideration		3,800,000	$ (7,200,000)	4,400,000	$ (18,600,000)
Acquisition Agreement | Cobalt Biomedicine Inc | Long-term Liabilities | Research and Development Expense
Business Acquisition [Line Items]
Estimated fair value of success payment liability		$ 29,500,000		$ 29,500,000		$ 29,500,000	$ 88,300,000
Acquisition Agreement | Cobalt Biomedicine Inc | Minimum
Business Acquisition [Line Items]
Threshold market capitalization	$ 8,100,000,000
Acquisition Agreement | Cobalt Biomedicine Inc | Market Capitalization Equal to or Exceeds $8.1 billion
Business Acquisition [Line Items]
Cobalt success payment	$ 500,000,000

Acquisitions - Schedule of Vari

Acquisitions - Schedule of Various Thresholds for Market Capitalizations Resulting Potential Success Payment and Additional Potential Contingent Consideration (Details) - Cobalt Biomedicine Inc $ in Millions	1 Months Ended
	Feb. 28, 2019 USD ($)
Market Capitalization Equal to or Exceeds $8.1 billion
Business Acquisition [Line Items]
Cobalt Success Payment	$ 500
Market Capitalization Equal to or exceeds $7.4 billion, but less than $8.1 billion
Business Acquisition [Line Items]
Cobalt Success Payment	150
Additional potential Cobalt Contingent Consideration	350
Market Capitalization Equal to or exceeds $6.8 billion, but less than $7.4 billion
Business Acquisition [Line Items]
Cobalt Success Payment	100
Additional potential Cobalt Contingent Consideration	400
Market Capitalization Less than $6.8 billion
Business Acquisition [Line Items]
Additional potential Cobalt Contingent Consideration	$ 500

Acquisitions - Schedule of Va_2

Acquisitions - Schedule of Various Thresholds for Market Capitalizations Resulting Potential Success Payment and Additional Potential Contingent Consideration (Parenthetical) (Details) - Sana $ in Billions	Feb. 28, 2019 USD ($)
Market Capitalization Equal to or Exceeds $8.1 billion
Business Acquisition [Line Items]
Threshold market capitalization	$ 8.1
Market Capitalization Equal to or exceeds $7.4 billion, but less than $8.1 billion
Business Acquisition [Line Items]
Threshold market capitalization	7.4
Market Capitalization Equal to or exceeds $6.8 billion, but less than $7.4 billion
Business Acquisition [Line Items]
Threshold market capitalization	6.8
Market Capitalization Less than $6.8 billion
Business Acquisition [Line Items]
Threshold market capitalization	$ 6.8

License and Collaboration Agr_3

License and Collaboration Agreements - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Mar. 31, 2019	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Oct. 31, 2021
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Share issue price	$ 4
Beam Therapeutics Inc. (Beam) | Research and Development Expense
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Upfront payment to collaborators						$ 50,000,000
Beam Therapeutics Inc. (Beam) | Maximum [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Developmental and commercial milestone payments and royalties on licensed products payable							$ 65,000,000
Harvard College
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Share issue price	$ 4
Maximum period expected to achieve for success payments	12 years
Estimated fair value of success payment liability						14,200,000
Harvard College | Short-term Liabilities
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Estimated fair value of success payment liability						5,000,000
Harvard College | Long-term Liabilities
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Estimated fair value of success payment liability		$ 4,100,000		$ 4,100,000		$ 9,200,000
Harvard College | Research and Development Expense
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Expense in connection with change in estimated fair value of success payment liabilities		$ 2,000,000	$ 16,600,000	$ 10,100,000	$ (7,300,000)
Harvard College | Maximum [Member]
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Potential success payment	$ 175,000,000

License and Collaboration Agr_4

License and Collaboration Agreements - Summary of Potential Success Payments (Details) - Harvard College $ / shares in Units, $ in Millions	1 Months Ended
	Mar. 31, 2019 USD ($) $ / shares
Multiple of Equity Value at Issuance, 5x
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Per share common stock price required for payment | $ / shares	$ 20
Success payment(s) | $	$ 5
Multiple of Equity Value at Issuance, 10x
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Per share common stock price required for payment | $ / shares	$ 40
Success payment(s) | $	$ 15
Multiple of Equity Value at Issuance, 20x
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Per share common stock price required for payment | $ / shares	$ 80
Success payment(s) | $	$ 30
Multiple of Equity Value at Issuance, 30x
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Per share common stock price required for payment | $ / shares	$ 120
Success payment(s) | $	$ 50
Multiple of Equity Value at Issuance, 40x
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Per share common stock price required for payment | $ / shares	$ 160
Success payment(s) | $	$ 75

Restricted Cash - Additional In

Restricted Cash - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jul. 31, 2023	Dec. 31, 2021
Restricted Cash And Cash Equivalents Items [Line Items]
Standby letters of credit	$ 10,508		$ 8,819
Restricted cash and cash equivalents, noncurrent, nature of restriction, description	standby letters of credit
Fremont, CA.
Restricted Cash And Cash Equivalents Items [Line Items]
Standby letters of credit	$ 6,700
Forecast | Fremont, CA.
Restricted Cash And Cash Equivalents Items [Line Items]
Future letter of credit amount		$ 500

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Cash Equivalents
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	$ 182,314	$ 227,016
Gross Unrealized Holding Losses	(7)
Estimated Fair Value	182,307	227,016
Cash Equivalents | Money Market Funds | Level 1
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	134,923	224,671
Estimated Fair Value	134,923	224,671
Cash Equivalents | US Government Agencies Debt Securities | Fair Value, Inputs, Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	46,941
Gross Unrealized Holding Losses	(7)
Estimated Fair Value	46,934
Cash Equivalents | Corporate Debt Securities | Fair Value, Inputs, Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	450	2,345
Estimated Fair Value	450	2,345
Short-term Marketable Securities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	293,861	298,295
Gross Unrealized Holding Gains		1
Gross Unrealized Holding Losses	(3,718)	(329)
Estimated Fair Value	290,143	297,967
Short-term Marketable Securities | US Government Agencies Debt Securities | Fair Value, Inputs, Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	240,016	162,854
Gross Unrealized Holding Gains		1
Gross Unrealized Holding Losses	(3,198)	(195)
Estimated Fair Value	236,818	162,660
Short-term Marketable Securities | Corporate Debt Securities | Fair Value, Inputs, Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	53,845	135,441
Gross Unrealized Holding Losses	(520)	(134)
Estimated Fair Value	53,325	135,307
Long-term Marketable Securities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	97,386	196,919
Gross Unrealized Holding Gains	4
Gross Unrealized Holding Losses	(2,626)	(1,038)
Estimated Fair Value	94,764	195,881
Long-term Marketable Securities | US Government Agencies Debt Securities | Fair Value, Inputs, Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	87,007	176,492
Gross Unrealized Holding Gains	4
Gross Unrealized Holding Losses	(2,317)	(925)
Estimated Fair Value	84,694	175,567
Long-term Marketable Securities | Corporate Debt Securities | Fair Value, Inputs, Level 2
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	10,379	20,427
Gross Unrealized Holding Losses	(309)	(113)
Estimated Fair Value	10,070	20,314
Financial Assets
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	573,938	722,656
Gross Unrealized Holding Gains	4	1
Gross Unrealized Holding Losses	(6,351)	(1,367)
Estimated Fair Value	567,591	721,290
Other Assets | Fair Value, Inputs, Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	377	426
Estimated Fair Value	377	426
Short-term Financial Liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	51,386	56,382
Estimated Fair Value	51,386	56,382
Short-term Financial Liabilities | Cobalt Contingent Consideration | Fair Value, Inputs, Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	51,386	51,382
Estimated Fair Value	51,386	51,382
Short-term Financial Liabilities | Success Payment Liabilities | Fair Value, Inputs, Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost		5,000
Estimated Fair Value		5,000
Long-term Financial Liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	131,516	199,886
Estimated Fair Value	131,516	199,886
Long-term Financial Liabilities | Cobalt Contingent Consideration | Fair Value, Inputs, Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	97,999	102,361
Estimated Fair Value	97,999	102,361
Long-term Financial Liabilities | Success Payment Liabilities | Fair Value, Inputs, Level 3
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	33,517	97,525
Estimated Fair Value	33,517	97,525
Financial Liabilities
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Amortized Cost	182,902	256,268
Estimated Fair Value	$ 182,902	$ 256,268

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Estimated Fair Value Available For Sale Debt Securities Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value less than 12 months	$ 421,900	$ 486,545
Unrealized losses less than 12 months	(6,343)	(1,367)
Fair value 12 months or greater	3,046
Unrealized losses 12 months or greater	(8)
Total fair value	424,946	486,545
Total unrealized losses	(6,351)	(1,367)
US Government Agencies Debt Securities
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value less than 12 months	361,551	329,883
Unrealized losses less than 12 months	(5,522)	(1,120)
Total fair value	361,551	329,883
Total unrealized losses	(5,522)	(1,120)
Corporate Debt Securities
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Fair value less than 12 months	60,349	156,662
Unrealized losses less than 12 months	(821)	(247)
Fair value 12 months or greater	3,046
Unrealized losses 12 months or greater	(8)
Total fair value	63,395	156,662
Total unrealized losses	$ (829)	$ (247)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value securities unrealized loss position		$ 424,946	$ 486,545
Debt Securities, Available-for-Sale, Allowance for Credit Loss | security		1	0
Realized gains or losses recognized on maturity of available-for-sale securities	$ 0	$ 0
Maximum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Marketable securities maturity period		2 years
Investments in securities with maturities period		1 year

Fair Value Measurements - Chang

Fair Value Measurements - Changes in Estimated Fair Value of Level 3 Financial Liabilities (Details) - Fair Value, Inputs, Level 3 - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Cobalt Contingent Consideration
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	$ 153,215	$ 153,743
Changes in fair value - gain	(3,830)	(528)
Ending Balance	149,385	153,215
Cobalt Success Payment Liability
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	41,530	88,353
Changes in fair value - gain	(12,073)	(46,823)
Ending Balance	29,457	41,530
Harvard Success Payment Liabilitiy
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	6,085	14,172
Changes in fair value - gain	(2,025)	(8,087)
Ending Balance	$ 4,060	$ 6,085

Fair Value Measurements - Sum_3

Fair Value Measurements - Summary of Estimated Fair Value of Contingent Consideration Unobservable Inputs (Details) - Cobalt Contingent Consideration	Jun. 30, 2022	Dec. 31, 2021
Discount Rates | Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value contingent consideration measurement input	0.145	0.109
Discount Rates | Maximum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value contingent consideration measurement input	0.156	0.116
Discount Rates | Weighted-Average
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value contingent consideration measurement input	0.151	0.112
Probability of Milestone Achievement | Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value contingent consideration measurement input	0.050	0.05
Probability of Milestone Achievement | Maximum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value contingent consideration measurement input	0.750	0.75
Probability of Milestone Achievement | Weighted-Average
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value contingent consideration measurement input	0.338	0.338

Fair Value Measurements - Sum_4

Fair Value Measurements - Summary of Estimated Fair Value of Success Payment Liabilities Unobservable Inputs (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Expected Stock Price Volatility | Cobalt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurement input	0.70	0.70
Expected Stock Price Volatility | Harvard
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurement input	0.70	0.70
Expected Term (Years) | Cobalt
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurement input expected term (years)	16 years 7 months 6 days	17 years 1 month 6 days
Expected Term (Years) | Harvard
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value measurement input expected term (years)	8 years 8 months 12 days	9 years 2 months 12 days

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property and equipment, at cost	$ 94,034	$ 84,238
Less: Accumulated depreciation	(26,188)	(18,774)
Property and equipment, net	67,846	65,464
Laboratory Equipment
Property Plant And Equipment [Line Items]
Property and equipment, at cost	57,648	47,684
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property and equipment, at cost	33,924	33,848
Construction In Progress
Property Plant And Equipment [Line Items]
Property and equipment, at cost	303	1,388
Computer Equipment, Software and Other
Property Plant And Equipment [Line Items]
Property and equipment, at cost	$ 2,159	$ 1,318

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property Plant And Equipment [Abstract]
Depreciation expense	$ 3,800	$ 2,600	$ 7,414	$ 4,853

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Compensation and Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accrued compensation:
Accrued bonuses	$ 9,074	$ 13,814
Accrued paid time off	5,787	4,429
Accrued payroll	3,130	2,888
Total accrued compensation	17,991	21,131
Accrued expenses and other current liabilities:
Accrued research and development services	6,398	3,419
Accrued property and equipment	2,367	2,566
Accrued professional fees	1,586	1,971
Other accrued current liabilities	3,634	2,388
Total accrued expenses and other current liabilities	$ 13,985	$ 10,344

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($) ft²
Lessee Lease Description [Line Items]
Obligation to pay base rent	$ 160,881	$ 160,881
Weighted-average remaining lease term	6 years 8 months 12 days	6 years 8 months 12 days
Weighted-average incremental borrowing rate	9.63%	9.63%
Bothell, WA
Lessee Lease Description [Line Items]
Square feet | ft²		79,565
Initial lease term	16 years	16 years
Option to extend the lease term		the option to extend the lease for up to three additional five-year terms.
Reimbursement of tenant improvements	$ 19,900	$ 19,900
Optional additional tenant improvement allowance	$ 8,000	$ 8,000
Optional additional tenant improvement allowance, interest rate	6.50%	6.50%
Obligation to pay base rent	$ 68,800	$ 68,800
Letter of credit	1,600	$ 1,600
Fremont, CA
Lessee Lease Description [Line Items]
Option to extend the lease term		option to renew the lease for two additional five-year terms
Increase decrease in operating lease right-of-use assets	12,800	$ 12,800
Increase decrease in operating lease right-of-use liabilities	12,800	12,800
Construction in progress costs write-off	$ 4,500	$ 4,500

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Additional Information Related to Operating Leases (Details)	6 Months Ended
	Jun. 30, 2022 ft²
Seattle, WA | Office/Laboratory
Lessee Lease Description [Line Items]
Square feet	48,000
Commencement Dates, Beginning	2019-03
Commencement Dates, Ending	2020-09
Lease arrangement, contractual expiration period, beginning year	2026-12
Lease arrangement, contractual expiration period, ending year	2028-04
Cambridge, MA | Office/Laboratory
Lessee Lease Description [Line Items]
Square feet	60,000
Commencement Dates, Beginning	2019-03
Commencement Dates, Ending	2020-05
Lease arrangement, contractual expiration period, beginning year	2025-11
Lease arrangement, contractual expiration period, ending year	2028-02
South San Francisco, CA | Office/Laboratory
Lessee Lease Description [Line Items]
Square feet	100,000
Commencement Dates, Beginning	2019-12
Commencement Dates, Ending	2022-04
Lease arrangement, contractual expiration period, beginning year	2024-04
Lease arrangement, contractual expiration period, ending year	2030-04
Fremont, CA. | Industrial
Lessee Lease Description [Line Items]
Square feet	163,000
Commencement Dates, Beginning	2021-07
Lease arrangement, contractual expiration period, ending year	2031-11
Rochester, NY | Office/Laboratory
Lessee Lease Description [Line Items]
Square feet	3,000
Commencement Dates, Beginning	2022-01
Lease arrangement, contractual expiration period, ending year	2025-01
Bothell, WA
Lessee Lease Description [Line Items]
Square feet	79,565
Bothell, WA | Office/Laboratory/Industrial
Lessee Lease Description [Line Items]
Square feet	80,000
Commencement Dates, Beginning	2023-01
Lease arrangement, contractual expiration period, ending year	2038-12

Commitments and Contingencies_3

Commitments and Contingencies - Summary of Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Lease, Cost [Abstract]
Operating lease cost	$ 6,066	$ 4,167	$ 11,546	$ 7,065
Short-term lease cost				512
Variable lease cost	1,903	1,642	3,392	2,729
Total lease cost	$ 7,969	$ 5,809	$ 14,938	$ 10,306

Commitments and Contingencies_4

Commitments and Contingencies - Reconciliation of Undiscounted Operating Lease Cash Flows by Fiscal Year to Present Value of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
2022 (remaining 6 months)	$ 10,855
2023	25,113
2024	24,326
2025	24,302
2026	21,183
2027 and thereafter	55,102
Total undiscounted lease payments	160,881
Less: imputed interest	(44,380)
Less: tenant improvement allowances	(2,874)
Present value of operating lease liabilities	113,627
Less: current portion of operating lease liabilities	(10,667)	$ (9,159)
Operating lease liabilities, net of current portion	$ 102,960	$ 101,784

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Details) - shares	Jun. 30, 2022	Dec. 31, 2021	Feb. 28, 2021
Class Of Stock [Line Items]
Shares authorized			800,000,000
Common stock, shares authorized	750,000,000	750,000,000	750,000,000
Preferred stock, shares authorized	50,000,000	50,000,000	50,000,000
Common stock, shares outstanding	188,430,000	184,929,000
Restricted Stock
Class Of Stock [Line Items]
Common stock outstanding	1,706,000	4,365,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	6 Months Ended
	Feb. 28, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2022
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of vested		$ 0.7	$ 0.7
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Fair value of vested		$ 0.2	$ 0
2021 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage related to employees able to purchase shares at lower of fair market value	85%
Number of shares available for future issuance				3.6
2021 Employee Stock Purchase Plan | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage allowed for eligible employees to purchase shares of common stock	15%
2021 Incentive Award Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future issuance				13

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Based Compensation Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 9,911	$ 4,941	$ 17,666	$ 9,099
Research and Development Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	7,408	3,148	13,120	5,816
General and administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,503	$ 1,793	$ 4,546	$ 3,283

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Unrecognized Stock-Based Compensation Costs Related to Unvested Awards and Weighted-Average Period Over Which Costs are Expected to be Recognized (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense (in thousands)	$ 97,546
Weighted-average period costs expected to be recognized (in years)	3 years
Restricted Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense (in thousands)	$ 1,181
Weighted-average period costs expected to be recognized (in years)	1 year 1 month 6 days
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation expense (in thousands)	$ 5,374
Weighted-average period costs expected to be recognized (in years)	2 years 9 months 18 days

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Stock Options
Stock Options Outstanding, Beginning Balance | shares	17,337
Stock Options, Granted | shares	9,853
Stock Options, Exercised | shares	(604)
Stock Options, Forfeited/Cancelled | shares	(970)
Stock Options Outstanding, Ending Balance | shares	25,616	17,337
Stock Options Exercisable | shares	5,889
Weighted-Average Exercise Price per Share
Weighted-Average Exercise Price per Share Outstanding, Beginning Balance | $ / shares	$ 8.96
Weighted-Average Exercise Price per Share, Granted | $ / shares	5.98
Weighted-Average Exercise Price per Share, Exercised | $ / shares	2.02
Weighted-Average Exercise Price per Share, Forfeited/Cancelled | $ / shares	11.11
Weighted-Average Exercise Price per Share Outstanding, Ending Balance | $ / shares	7.90	$ 8.96
Weighted-Average Exercise Price Per Share Exercisable | $ / shares	$ 6.02
Weighted-Average Remaining Contractual Life (years)
Weighted-Average Remaining Contractual Life (years), Outstanding	8 years 9 months 18 days	8 years 8 months 12 days
Weighted-Average Remaining Contractual Life (years), Exercisable	7 years 10 months 24 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding | $	$ 33,123	$ 141,718
Aggregate Intrinsic Value, Exercisable | $	$ 14,418

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Assumptions Used in Black-Scholes Option-Pricing Model for Estimating Fair Value of Stock Options Granted (Details)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Risk free interest rate, minimum	1.56%	0.46%
Risk free interest rate, maximum	3.36%	1.14%
Expected volatility	70%	70%
Expected dividend	0%	0%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	5 years 6 months	5 years 6 months
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	6 years 3 months	6 years 3 months

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Additional Information Related to Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Weighted average grant date fair value per share for options granted	$ 3.83	$ 15.30
Aggregate intrinsic value of stock options exercised (in thousands)	$ 3,917	$ 9,464

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of RSA Activity (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Restricted Stock
RSAs
Unvested shares as of December 31, 2021	4,365
Vested	(2,630)
Forfeited	(29)
Unvested shares as of June 30, 2022	1,706
Weighted-Average Grant Date Fair Value per Share
Unvested shares as of December 31, 2021 | $ / shares	$ 0.43
Vested | $ / shares	0.25
Unvested shares as of June 30, 2022 | $ / shares	$ 0.72
Restricted Stock Units (RSUs)
RSAs
Unvested shares as of December 31, 2021	141
Granted	871
Vested	(32)
Forfeited	(69)
Unvested shares as of June 30, 2022	911
Weighted-Average Grant Date Fair Value per Share
Unvested shares as of December 31, 2021 | $ / shares	$ 9.43
Granted | $ / shares	6.27
Vested | $ / shares	3.31
Forfeited | $ / shares	4.67
Unvested shares as of June 30, 2022 | $ / shares	$ 6.99

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Summary of Calculation of Basic and Diluted Net Income (Loss) Per Share of Common Stock (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended				6 Months Ended
		Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Basic earnings per common share:
Net income (loss)		$ (72,465)	$ (31,448)	$ 18,683	$ (180,617)	$ (103,913)	$ (161,934)
Less: net income allocated to participating securities(1)	[1]			(749)
Net income (loss) attributable to common stockholders		$ (72,465)		$ 17,934		$ (103,913)	$ (161,934)
Weighted-average number of common shares - basic		187,626		179,899		186,801	149,683
Net income (loss) per common share - basic		$ (0.39)		$ 0.10		$ (0.56)	$ (1.08)
Diluted earnings per common share:
Net income (loss)		$ (72,465)	$ (31,448)	$ 18,683	$ (180,617)	$ (103,913)	$ (161,934)
Less: net income allocated to participating securities(1)	[1]			(749)
Net income (loss) attributable to common stockholders		$ (72,465)		$ 17,934		$ (103,913)	$ (161,934)
Effect of dilutive securities:
Stock options and restricted stock units				10,609
Weighted-average number of common shares - diluted		187,626		190,508		186,801	149,683
Net income (loss) per common share - diluted		$ (0.39)		$ 0.09		$ (0.56)	$ (1.08)
[1] Restricted stock awards granted to employees by the Company are considered participating securities.

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Anti-dilutive Securities Excluded from Calculation of Diluted Net Income (Loss) Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of dilutive net loss per share	28,233	1,553	28,233	23,983
Options to Purchase Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of dilutive net loss per share	25,616	1,553	25,616	16,442
Unvested Restricted Common Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of dilutive net loss per share	1,706		1,706	7,213
Unvested RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of dilutive net loss per share	911		911	328