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Stock-based Compensation - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,193	$ 2,664	$ 4,295	$ 5,643
Income Statement Location [Axis]: us-gaap:GeneralAndAdministrativeExpense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	1,549	1,801	3,108	3,873
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 644	$ 863	$ 1,187	$ 1,770

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Nature of Business	6 Months Ended
Nature of Business	Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business	Nature of Business Editas Medicine, Inc. (the “Company”) is a pioneering gene editing company dedicated to developing transformative genomic medicines to treat a broad range of serious diseases. The Company was incorporated in the state of Delaware in September 2013. Its principal offices are in Cambridge, Massachusetts. Since its inception, the Company has devoted substantially all of its efforts to business planning, research and development, recruiting management and technical staff, and raising capital. The Company has primarily financed its operations through various equity financings, payments received under a research collaboration with the Bristol-Myers Squibb Company (“BMS”), through its wholly owned subsidiary Juno Therapeutics, Inc. (“Juno Therapeutics”), payments received under its former strategic alliance with Allergan Pharmaceuticals International Limited (together with its affiliates, “Allergan”), which was terminated in August 2020, payments received under a purchase and sale agreement with DRI Healthcare Acquisitions LP (“DRI,” and such agreement, the “DRI Agreement”), and payments received under the Company’s license agreement with Vertex Pharmaceuticals, Inc. (“Vertex”, and such agreement, the “Vertex License Agreement”). The Company is subject to risks common to companies in the biotechnology industry, including, but not limited to, risks of failure of preclinical studies and clinical trials, the need to obtain marketing approval for any drug product candidate that it may identify and develop, the need to successfully commercialize and gain market acceptance of its product candidates, dependence on key personnel, protection of proprietary technology, compliance with government regulations, development by competitors of technological innovations and ability to transition from pilot-scale manufacturing to large-scale production of products. Liquidity As of June 30, 2026, the Company has raised an aggregate of $1.2 billion in net proceeds through the sale of shares of its common stock in public offerings and at-the-market offerings. The Company also has funded its business from payments received under its DRI Agreement, under the Vertex License Agreement, under the collaboration with BMS through its wholly owned subsidiary Juno Therapeutics and its former strategic alliance with Allergan (which was terminated in August 2020). As of June 30, 2026, the Company had cash, cash equivalents, and marketable securities of $211.6 million. In May 2026, the Company completed a public offering (the “Offering”) in which it sold 55,555,556 shares of its common stock and accompanying common stock warrants to purchase up to 55,555,556 shares of its common stock (or pre-funded warrants to purchase shares of its common stock in lieu thereof). The Company received net proceeds of approximately $116.9 million after deducting underwriting discounts and commissions and other costs, and excluding any proceeds that may be received from the exercise of the common stock warrants. If all of the common stock warrants sold in the Offering were to be exercised in cash for shares of the Company’s common stock, the Company would receive additional proceeds of approximately $192.5 million. In May 2021, the Company entered into a common stock sales agreement (the “Sales Agreement”) with TD Securities (USA) LLC (as successor to Cowen and Company, LLC) (“TD Cowen”), under which the Company from time to time can issue and sell shares of the Company’s common stock through TD Cowen in at-the-market offerings for aggregate gross sale proceeds of up to $300.0 million. The Company amended the Sales Agreement in February 2024 in connection with filing a new registration statement. In March 2025, the Company further amended the Sales Agreement in connection with amending its existing shelf registration statement following the loss of the Company’s status as a “well-known seasoned issuer” (as defined under Rule 405 of the Securities Act of 1933, as amended), reducing the amount of shares of common stock the Company may issue and sell through TD Cowen to aggregate gross sale proceeds of up to $150.0 million (the “ATM Facility”). In May 2026, the Company notified TD Cowen that it was suspending and terminating the prospectus supplement, dated March 21, 2025, related to the Sales Agreement. The Company will not make any sales of its common stock pursuant to the Sales Agreement unless and until a new prospectus or prospectus supplement is filed and, if applicable, a new registration statement covering such shares of common stock is declared effective by the Securities and Exchange Commission (“SEC”). The Sales Agreement remains in full force and effect. As of June 30, 2026, the Company had sold 14,327,365 shares of common stock under the ATM Facility for gross proceeds of $43.9 million and has $106.1 million of shares of common stock remaining available for issuance and sale under the ATM Facility. The Company has incurred annual net operating losses in every year since its inception. As of August 5, 2026, the issuance date of the condensed consolidated financial statements, the Company expects that its existing cash and cash equivalents will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next twelve months. The Company had an accumulated deficit of $1.7 billion at June 30, 2026, and will require substantial additional capital to fund its operations. The Company has never generated any product revenue. There can be no assurance that the Company will be able to obtain additional debt or equity financings or generate product revenue or revenues from collaborative partners, on terms acceptable to the Company, on a timely basis or at all. The failure of the Company to obtain sufficient funds on acceptable terms when needed could have a material adverse effect on the Company’s business, results of operations, and financial condition.

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Statement of Cash Flows [Abstract]
Restricted cash	$ 2,670	$ 3,877

- Definition

Amount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits.

+ References + Details

Stock-based Compensation - Restricted Stock Unit Awards Activity (Details) - Unvested restricted stock unit awards	6 Months Ended
	Jun. 30, 2026 $ / shares shares
Shares
Unvested restricted stock unit awards, beginning of period (in shares) \| shares	595,730
Issued (in shares) \| shares	0
Vested (in shares) \| shares	(88,306)
Forfeited (in shares) \| shares	(78,990)
Unvested restricted stock unit awards, end of period (in shares) \| shares	428,434
Weighted Average Grant Date Fair Value Per Share
Balance, beginning of period (in dollars per share) \| $ / shares	$ 9.11
Issued (in dollars per share) \| $ / shares	0
Vested (in dollars per share) \| $ / shares	10.22
Forfeited (in dollars per share) \| $ / shares	8.42
Balance, ending of period (in dollars per share) \| $ / shares	$ 9.11

Property and Equipment, net

6 Months Ended

Jun. 30, 2026

Property, Plant, and Equipment [Abstract]

Property and Equipment, net

Property and equipment, net consisted of the following (in thousands):


	June 30, 2026		December 31, 2025
Laboratory equipment	$	19,198	$	21,558
Leasehold improvements	8,404		8,403
Computer equipment	1,161		1,399

Furniture and office equipment	191		191
Software	320		344
Total property and equipment	29,274		31,895
Less: accumulated depreciation	(26,700)		(28,353)
Property and equipment, net	$	2,574	$	3,542

- Definition

The entire disclosure for property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

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+ Details

Cash Equivalents and Marketable Securities (Tables)

6 Months Ended

Jun. 30, 2026

Cash and Cash Equivalents [Abstract]

Schedule of Cash Equivalents and Marketable Securities

Cash equivalents and marketable securities consisted of the following at June 30, 2026 (in thousands):


	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents and marketable securities:
Money market funds	$	171,834	—		—		—		171,834
U.S. Treasuries	39,817		—		—		(6)		39,811



Total	$	211,651	$	—	$	—	$	(6)	$	211,645

Cash equivalents consisted of the following at December 31, 2025 (in thousands):


	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:

Money market funds	146,645		—		—		—		146,645



Total	$	146,645	$	—	$	—	$	—	$	146,645

Common Stock (Tables)

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Schedule of Stockholders' Equity Note, Warrants or Rights

The common stock warrants outstanding at June 30, 2026 are summarized in the table below:


			Common Stock Warrants
Outstanding at December 31, 2025			—
Issued			55,555,556
Exercised			—
Outstanding at June 30, 2026			55,555,556

Collaboration Agreements - Schedule of Accounts Receivable and Contract Liabilities (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2026 USD ($)
Accounts receivable:
Accounts receivable, balance at beginning of period	$ 15,176
Accounts receivable, additions	6,744
Accounts receivable, deductions	(19,195)
Accounts receivable, balance at end of period	2,725
Contract liabilities:
Deferred revenue, balance at beginning of period	44,509
Deferred revenue, additions	0
Deferred revenue, deductions	(8,194)
Deferred revenue, balance at end of period	$ 36,315

Segments (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Segment Reporting

The following table contains additional information on the Company’s consolidated revenue and net loss, including significant segment expenses (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025			2026		2025
Collaboration and other research and development revenues	$	11,890	$	3,578		$	14,721	$	8,236
Operating expenses:
Research and development1
Employee related expenses	4,900		8,575			10,320		22,742
External research and development expenses	5,851		25,111			9,355		60,466
Facility expenses	3,287		4,581			6,512		13,974
Stock-based compensation expenses	644		863			1,187		1,770
Sublicense and license fees	1,643		95			4,054		112
Other expenses3	2,516		1,787			5,013		7,785
General and administrative2
Employee related expenses	1,972		3,436			4,081		8,541
Professional service expenses	1,838		3,711			3,728		6,151
Intellectual property and patent related fees	4,557		3,221			7,659		5,767
Stock-based compensation expenses	1,549		1,801			3,108		3,873
Facility and other expenses4	1,687		1,941			3,261		4,762
Total operating expenses	30,444		55,122			58,278		135,943


Interest expense related to sale of future revenues	(1,061)		(2,020)			(2,133)		(4,236)
Interest income, net	1,368		2,087			2,574		4,803
Other income (expense), net	17		(1,758)			(96)		(2,183)
Total other income (expense), net	324		(1,691)			345		(1,616)
Net loss	$	(18,230)	$	(53,235)		$	(43,212)	$	(129,323)

1 For the three and six months ended June 30, 2026, research and development includes $1.3 million of benefit within restructuring and impairment charges. For the three and six months ended June 30, 2025, research and development includes $24.8 million and $64.1 million of restructuring and impairment charges, respectively.
2 For the three and six months ended June 30, 2026, general and administrative includes no restructuring and impairment charges. For the three and six months ended June 30, 2025, general and administrative includes $1.3 million and $2.9 million of restructuring and impairment charges, respectively.
3 Other expenses primarily consists of impairment charges, consultant fees, and office expenses.
4 Facility and other expenses primarily consists of rent expense, insurance premiums, depreciation expense, software licenses, and office expenses.

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

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+ Details

Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Supplier Finance Program [Line Items]
External research and development expenses	$ 4,946	$ 9,672
Employee related expenses	3,225	5,220
Sublicense and license fees	1,187	5,501
Intellectual property and patent related fees	1,700	2,105
Professional service expenses	381	232
Other expenses	295	556
Total accrued expenses	17,365	32,610
Employee termination benefits
Supplier Finance Program [Line Items]
Restructuring reserve	25	1,555
Restructuring contract costs
Supplier Finance Program [Line Items]
Restructuring reserve	$ 5,606	$ 7,769

Cash Equivalents and Marketable Securities - Schedule of Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Cash Equivalents and Marketable Securities
Amortized Cost	$ 211,651	$ 146,645
Allowance for Credit Losses	0	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(6)	0
Fair Value	211,645	146,645
Money market funds
Cash Equivalents and Marketable Securities
Amortized Cost	171,834	146,645
Allowance for Credit Losses	0	0
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	171,834	$ 146,645
U.S. Treasuries
Cash Equivalents and Marketable Securities
Amortized Cost	39,817
Allowance for Credit Losses	0
Gross Unrealized Gains	0
Gross Unrealized Losses	(6)
Fair Value	$ 39,811

- Definition

Amortized cost of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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Amount of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

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+ Details

Nature of Business (Details) - USD ($)		6 Months Ended
Nature of Business (Details) - USD ($)	May 26, 2026	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025	Mar. 31, 2025	May 31, 2021
Liquidity
Aggregate net proceeds		$ 1,200,000,000
Cash, cash equivalents and marketable securities		211,600,000
Proceeds from issuance of common stock		117,499,000	$ 8,619,000
Retained Earnings (Accumulated Deficit)		$ 1,671,715,000		$ 1,628,503,000
Common Stock Warrants
Liquidity
Net proceeds	$ 116,900,000
Proceeds from issuance of common stock	$ 87,300,000
May 2026 Offering
Liquidity
Number of common stock issued (in shares)	55,555,556
May 2026 Offering \| Pre Funded Warrants
Liquidity
Class of warrant or right, number of securities called by warrants or rights	55,555,556
Proceeds from warrant exercises	$ 192,500,000
At The Market Offering
Liquidity
Number of common stock issued (in shares)		14,327,365
Sales agreement amount of aggregate sale proceeds of common stock agreed to be issued					$ 150,000,000.0	$ 300,000,000.0
Proceeds from issuance of common stock		$ 43,900,000
Sales agreement, amount of aggregate sale proceeds of common stock available		$ 106,100,000

Summary of Significant Accounting Policies	6 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2026
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Unaudited Interim Financial Information The condensed consolidated financial statements of the Company included herein have been prepared, without audit, pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States of America have been condensed or omitted from this report, as is permitted by such rules and regulations. Accordingly, these condensed consolidated financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Annual Report”). The unaudited condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, Editas Securities Corporation and Editas Medicine, LLC. All intercompany transactions and balances of the subsidiaries have been eliminated in consolidation. In the opinion of management, the information furnished reflects all adjustments, all of which are of a normal and recurring nature, necessary for a fair statement of the results for the reported interim periods. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. The three months ended June 30, 2026 and 2025 are referred to as the second quarter of 2026 and 2025, respectively. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year or any other interim period. Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2, “Summary of Significant Accounting Policies,” to the consolidated financial statements included in the Annual Report. There have been no material changes to the significant accounting policies previously disclosed in the Annual Report, except for the following: Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), and ASC 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815-40, including whether the warrants are indexed to the Company’s own common stock and whether warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end-date while the warrants are outstanding. When warrants are issued together with other securities in a single transaction, the Company allocates the gross proceeds among the freestanding instruments based on their relative fair values. The Company estimates the fair value of warrants using option pricing models, which require the use of significant unobservable inputs. Such measurements are classified within Level 3 of the fair value hierarchy. Issuance costs are allocated to the warrants on the same relative-fair-value basis. Costs allocated to equity-classified warrants reduce additional paid-in capital, and costs allocated to liability-classified warrants are expensed as incurred. For issued or modified warrants that meet all the criteria for equity classification, the warrants are required to be recorded as a component of equity at the time of issuance. Warrants classified in equity are not remeasured after issuance provided they continue to qualify for equity classification. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of warrants classified as liabilities are recognized as a non-cash gain or loss on the statements of operations. Recently Adopted Accounting Pronouncements In September 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-07 Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract. The amendments provide for a new scope exception to the derivatives guidance for underlyings based on the operations or activities specific to one of the parties to the contract, and also clarify that share-based noncash consideration received from a customer as consideration for the transfer of goods or services in a revenue contract is subject to the revenue guidance and not the financial instruments guidance unless and until the company’s right to receive or retain the share-based noncash consideration is unconditional as defined in the ASU. The amendments are effective for annual reporting periods beginning after December 15, 2026, including interim periods within those fiscal years. Early adoption is permitted. The Company adopted the standard prospectively in the first quarter of 2026, and it did not have a material impact on its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income -Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve the disclosure of expenses by providing more detailed information about the types of expenses in commonly presented expense captions. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. The amendments can be applied either prospectively or retrospectively. The Company has not early adopted this ASU and is currently evaluating the impact of this new standard on its condensed consolidated financial statements and related disclosures.

Net Loss per Share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Schedule of Anti-Dilutive Common Stock Equivalents

The following common stock equivalents were excluded from the calculation of diluted net loss per share allocable to common stockholders because their inclusion would have been anti-dilutive:


	June 30,
	2026	2025
Unvested restricted stock unit awards	428,434	923,539
Outstanding stock options	12,287,025	10,445,817
Outstanding common stock warrants	55,555,556	—
Total	68,271,015	11,369,356

Property and Equipment, net (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Property and equipment, net
Total property and equipment	$ 29,274	$ 31,895
Less: accumulated depreciation	(26,700)	(28,353)
Property and equipment, net	2,574	3,542
Laboratory equipment
Property and equipment, net
Total property and equipment	19,198	21,558
Leasehold improvements
Property and equipment, net
Total property and equipment	8,404	8,403
Computer equipment
Property and equipment, net
Total property and equipment	1,161	1,399
Furniture and office equipment
Property and equipment, net
Total property and equipment	191	191
Software
Property and equipment, net
Total property and equipment	$ 320	$ 344

- Definition

Amount of accumulated depreciation, depletion, and amortization of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Amount, after accumulated depreciation, depletion, and amortization, of property, plant, and equipment. Includes, but is not limited to, land and land improvement; building; machinery and equipment; furniture and fixture; and work of art, historical treasure, or similar asset classified as collection.

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-URI https://asc.fasb.org/1943274/2147478451/942-360-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
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-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-7A

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
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-Name Accounting Standards Codification
-Section 55
-Paragraph 10
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-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
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-Subparagraph (SX 210.7-03(a)(8))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1

+ Details

Common Stock - Schedule of Common Stock Warrants Outstanding (Details)	6 Months Ended
	Jun. 30, 2026 shares
Class Of Warrant Or Right [Roll Forward]
Outstanding at beginning of period (in shares)	0
Issued	55,555,556
Exercised	0
Outstanding at end of period (in shares)	55,555,556

Collaboration Agreements (Tables)

6 Months Ended

Jun. 30, 2026

Collaboration Agreements [Abstract]

Schedule of Accounts Receivable and Contract Liabilities

The following table presents changes in the Company’s accounts receivable and contract liabilities for the six months ended (in thousands):


	Balance at December 31, 2025		Additions		Deductions		Balance at June 30, 2026
Accounts receivable	$	15,176	$	6,744	$	(19,195)	$	2,725
Contract liabilities:
Deferred revenue	$	44,509	$	—	$	(8,194)	$	36,315

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2026
Accounting Policies [Abstract]
Warrants	Warrants The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in ASC 480, “Distinguishing Liabilities from Equity” (“ASC 480”), and ASC 815, “Derivatives and Hedging” (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815-40, including whether the warrants are indexed to the Company’s own common stock and whether warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end-date while the warrants are outstanding. When warrants are issued together with other securities in a single transaction, the Company allocates the gross proceeds among the freestanding instruments based on their relative fair values. The Company estimates the fair value of warrants using option pricing models, which require the use of significant unobservable inputs. Such measurements are classified within Level 3 of the fair value hierarchy. Issuance costs are allocated to the warrants on the same relative-fair-value basis. Costs allocated to equity-classified warrants reduce additional paid-in capital, and costs allocated to liability-classified warrants are expensed as incurred. For issued or modified warrants that meet all the criteria for equity classification, the warrants are required to be recorded as a component of equity at the time of issuance. Warrants classified in equity are not remeasured after issuance provided they continue to qualify for equity classification. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded as liabilities at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of warrants classified as liabilities are recognized as a non-cash gain or loss on the statements of operations.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements In September 2025, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2025-07 Derivatives Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract. The amendments provide for a new scope exception to the derivatives guidance for underlyings based on the operations or activities specific to one of the parties to the contract, and also clarify that share-based noncash consideration received from a customer as consideration for the transfer of goods or services in a revenue contract is subject to the revenue guidance and not the financial instruments guidance unless and until the company’s right to receive or retain the share-based noncash consideration is unconditional as defined in the ASU. The amendments are effective for annual reporting periods beginning after December 15, 2026, including interim periods within those fiscal years. Early adoption is permitted. The Company adopted the standard prospectively in the first quarter of 2026, and it did not have a material impact on its condensed consolidated financial statements. Recently Issued Accounting Pronouncements In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income -Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which is intended to improve the disclosure of expenses by providing more detailed information about the types of expenses in commonly presented expense captions. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. The amendments can be applied either prospectively or retrospectively. The Company has not early adopted this ASU and is currently evaluating the impact of this new standard on its condensed consolidated financial statements and related disclosures.

- Definition

Disclosure of accounting policy for its derivative instruments and hedging activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482913/230-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Paragraph 8
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section S50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479693/815-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8C

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-4F

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/815/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(n))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Financial Assets
Cash equivalents:		$ 146,645
Fair Value	$ 211,645	146,645
Restricted cash and other non-current assets:		2,670
Total financial assets	214,315	149,315
Marketable US Treasury Securities
Financial Assets
Fair Value	29,830
Money market funds
Financial Assets
Cash equivalents:	171,834
Restricted cash and other non-current assets:	2,670
U.S. Treasuries
Financial Assets
Cash equivalents:	9,981
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial Assets
Cash equivalents:		146,645
Restricted cash and other non-current assets:		2,670
Total financial assets	214,315	149,315
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Marketable US Treasury Securities
Financial Assets
Fair Value	29,830
Quoted Prices in Active Markets for Identical Assets (Level 1) \| Money market funds
Financial Assets
Cash equivalents:	171,834
Restricted cash and other non-current assets:	2,670
Quoted Prices in Active Markets for Identical Assets (Level 1) \| U.S. Treasuries
Financial Assets
Cash equivalents:	9,981
Significant Other Observable Inputs (Level 2)
Financial Assets
Cash equivalents:		0
Restricted cash and other non-current assets:		0
Total financial assets	0	0
Significant Other Observable Inputs (Level 2) \| Marketable US Treasury Securities
Financial Assets
Fair Value	0
Significant Other Observable Inputs (Level 2) \| Money market funds
Financial Assets
Cash equivalents:	0
Restricted cash and other non-current assets:	0
Significant Other Observable Inputs (Level 2) \| U.S. Treasuries
Financial Assets
Cash equivalents:	0
Significant Unobservable Inputs (Level 3)
Financial Assets
Cash equivalents:		0
Restricted cash and other non-current assets:		0
Total financial assets	0	$ 0
Significant Unobservable Inputs (Level 3) \| Marketable US Treasury Securities
Financial Assets
Fair Value	0
Significant Unobservable Inputs (Level 3) \| Money market funds
Financial Assets
Cash equivalents:	0
Restricted cash and other non-current assets:	0
Significant Unobservable Inputs (Level 3) \| U.S. Treasuries
Financial Assets
Cash equivalents:	$ 0

Stock-based Compensation - Stock Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2026 USD ($) $ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares
Shares
Expired (in shares) \| shares	(439,869)
Weighted Average Exercise Price
Expired (in dollars per share) \| $ / shares	$ 18.75
Stock Options
Shares
Outstanding, beginning of period (in shares) \| shares	8,403,694
Granted (in shares) \| shares	4,789,807
Exercised (in shares) \| shares	(20,040)
Forfeited (in shares) \| shares	(446,567)
Outstanding, end of period (in shares) \| shares	12,287,025	8,403,694
Vested and expected to vest (in shares) \| shares	12,287,025
Exercisable (in shares) \| shares	4,510,084
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share) \| $ / shares	$ 8.37
Granted (in dollars per share) \| $ / shares	2.53
Exercised (in dollars per share) \| $ / shares	1.80
Forfeited (in dollars per share) \| $ / shares	2.66
Outstanding, end of period (in dollars per share) \| $ / shares	5.94	$ 8.37
Vested and expected to vest (in dollars per share) \| $ / shares	5.94
Exercisable (in dollars per share) \| $ / shares	$ 11.62
Stock Options Additional Disclosures
Remaining contractual life (years)	8 years 3 months 7 days	7 years 7 months 24 days
Vested and expected to vest (years)	8 years 3 months 7 days
Exercisable, remaining contractual life (years)	6 years 8 months 1 day
Aggregate intrinsic value \| $	$ 9,322	$ 1,395
Vested and expected to vest \| $	9,322
Exercisable, aggregate intrinsic value \| $	$ 1,926

Common Stock

6 Months Ended

Jun. 30, 2026

Equity [Abstract]

Common Stock

Underwritten Offering

On May 26, 2026, the Company completed the Offering of 55,555,556 shares (the “Underwritten Shares”) of the Company’s common stock, $0.0001 par value per share, and accompanying common stock warrants to purchase up to 55,555,556 shares of common stock (or pre-funded warrants to purchase shares of common stock in lieu thereof). Each Underwritten Share was offered and sold together with an accompanying common stock warrant at a combined public offering price of $2.25. The underwriters agreed to purchase each Underwritten Share and accompanying common stock warrant from the Company pursuant to the Underwriting Agreement at a combined price of $2.115. The Offering closed on May 27, 2026. Each common stock warrant has an exercise price per share of $3.50 (or $3.4999 if the common stock warrant is being exercised for pre-funded warrants) and the common stock warrants are immediately exercisable from the date of issuance until the earlier of (i) the date that is 30 days following the first public announcement by the Company of

Phase 1 clinical data for EDIT-401 that discloses at least three patients in the trial that each demonstrated greater than 80% reduction in LDL-C as compared to baseline with at least one month of follow-up and (ii) May 27, 2029, the third anniversary of the date of issuance.

Gross proceeds from the Offering were $125.0 million. Net proceeds were $116.9 million after deducting underwriting discounts and commissions and estimated Offering expenses payable by the Company. The Company intends to use the net proceeds for the progression of EDIT-401, including clinical development and manufacturing, and for working capital and other general corporate purposes.

Common Stock Warrants

Under the terms of the common stock warrants issued in the Offering, the warrant is settled, at the holder's election, in shares of common stock or in a pre-funded warrant to purchase an identical number of shares of common stock as it would have received if it had exercised the warrant for shares of common stock. If the warrant is exercised for a pre-funded warrant, the applicable exercise price for the common stock warrant would be the exercise price of $3.4999 rather than $3.50. The resulting issued pre-funded warrant shall have an exercise price of $0.0001 per share. In addition, if the common stock warrants are exercised for shares, the Company will settle the exercises by delivering registered shares or, if a registration statement covering the underlying shares is unavailable, legended or restricted shares. The common stock warrants may not be settled in cash other than a cash payment in lieu of fractional shares and a customary buy-in remedy for a failure to timely deliver shares. The warrants are subject to customary anti-dilution adjustments for stock dividends and splits, pro rata distributions, and purchase rights, and to adjustment upon specified fundamental transactions. They contain no down-round or other price-based anti-dilution feature. No common stock warrants have been exercised as of July 31, 2026.

The Company determined that the common stock warrants are freestanding financial instruments that are legally detachable and separately exercisable from the common stock. The Company evaluated the common stock warrants under Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”), and concluded that they are not within the scope of ASC 480. The warrants do not embody an unconditional obligation to redeem by transferring assets, an obligation to repurchase the Company's shares by transferring assets, or an obligation to issue a variable number of shares with a monetary value based predominantly on a fixed amount, on variations in something other than the fair value of the Company's shares, or on variations inversely related to the Company's share price.

The Company then evaluated the common stock warrants under ASC 815-40, Derivatives and Hedging — Contracts in Entity's Own Equity (“ASC 815-40”). The warrants are indexed to the Company's own stock. Under the two-step framework in ASC 815-40-15, neither the exercise contingencies nor the settlement provisions preclude indexation, and the warrants provide for settlement of a fixed number of shares at a fixed exercise price. The warrants also meet the conditions for equity classification in ASC 815-40-25, including that settlement is in the Company's shares, the Company has a sufficient number of authorized and unissued shares to settle the warrants, and the Company controls settlement. Accordingly, the common stock warrants were classified as a component of permanent stockholders' equity within additional paid-in capital.

The common stock warrants outstanding at June 30, 2026 are summarized in the table below:


			Common Stock Warrants
Outstanding at December 31, 2025			—
Issued			55,555,556
Exercised			—
Outstanding at June 30, 2026			55,555,556

Common Stock Warrants Valuation and Allocation of Proceeds

The fair value of the common stock warrants was measured at issuance for the purpose of allocating the proceeds of the Offering and is a Level 3 measurement within the fair value hierarchy under ASC 820, Fair Value Measurement. The Company estimated the fair value of each warrant at $1.33 using a probability-weighted Black-Scholes option pricing model that reflected two scenarios: (i) a shorter-term scenario running to the expected date of the EDIT-401 Phase 1 data announcement and (ii) a scenario running to the three-year contractual term. The inputs to the option pricing model were the underlying common stock price of $3.08, the exercise price of $3.50, expected volatility of approximately 94.5% to 94.8% based on the Company's historical equity volatility, an expected term reflecting the probability-weighted scenarios,

a risk-free interest rate derived from the U.S. Treasury yield curve, and an expected dividend yield of 0%. The measurement is classified as Level 3 because of the significant unobservable inputs, principally the expected term, which depends on the estimated probability and timing of the EDIT-401 Phase 1 data announcement, and the expected volatility.

The Company allocated the proceeds between the common stock and the accompanying common stock warrants based on their relative fair values at the pricing date. The fair value of the common stock was its closing price of $3.08 per share, and the fair value of each accompanying common stock warrant was $1.33. The amounts allocated to the common stock and to the warrants are recorded within additional paid-in capital. The Company allocated $87.3 million to the common stock and $37.7 million to the warrants before issuance costs. Issuance costs of $8.1 million were allocated between the common stock and the warrants on the same basis and recorded as a reduction of additional paid-in capital, with no amount expensed because both instruments are classified in equity. The net amount recognized in additional paid-in capital equals $116.9 million of net proceeds, less the par value of the common stock shares issued.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 20
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479951/505-20-S50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section S25
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-URI https://asc.fasb.org/1943274/2147479982/505-20-S25-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section S99
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-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-16

+ Details

Collaboration Agreements - Narrative (Details) $ in Thousands	1 Months Ended	6 Months Ended
	Mar. 31, 2024 target	Jun. 30, 2026 USD ($)	Dec. 31, 2025 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Long-term deferred revenue		$ 4,000	$ 44,509
Deferred revenue, deductions		8,194
Bristol Myers Squibb Company ("BMS") \| Amended Collaboration Agreement 2019
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Agreement extension period, options to extend	2 years
Number of gene targets \| target	3
Long-term deferred revenue		$ 32,300	$ 44,500

Restructuring and Impairment Charges - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended	19 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Dec. 31, 2025 USD ($)	Jun. 30, 2026 USD ($) position
Restructuring Cost and Reserve [Line Items]
Restructuring and related cost, number of positions eliminated \| position						180
Restructuring and related cost, number of positions eliminated, period percent						65.00%
Interest related to sale of future revenues	$ 0	$ 0	$ 0	$ 3,724
Restructuring and related cost, accelerated depreciation		1,800
Termination of lease		4,800
Business exit costs	0	$ 1,803	0	$ 6,548
Discontinued Operations, Held-for-Sale or Disposed of by Sale
Restructuring Cost and Reserve [Line Items]
Interest related to sale of future revenues					$ 3,800
Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Accrued contract costs	25		25		1,555	$ 25
Total restructuring and impairment charges			0
Costs for ongoing contracts and terminated contracts
Restructuring Cost and Reserve [Line Items]
Accrued contract costs	7,884		7,884		$ 10,196	7,884
Termination of lease			1,339
Costs for ongoing contracts and terminated contracts \| Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherLiabilitiesNoncurrent
Restructuring Cost and Reserve [Line Items]
Accrued contract costs	$ 2,300		$ 2,300			$ 2,300

Segments - Narrative (Details)	6 Months Ended
Segments - Narrative (Details)	Jun. 30, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	1
Number of operating segments	1

Debt - Narrative (Details) - DRI Healthcare Acquisitions LP - License Agreement $ in Millions		6 Months Ended
	Oct. 03, 2024 USD ($)	Jun. 30, 2026
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from sale of future revenues	$ 57.0
Contingent upfront payment	50.0
Issuance costs	1.8
Liability for sale of future revenues, effective interest rate		7.70%
Minimum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License fee receivable	5.0
Maximum
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
License fee receivable	$ 40.0
License Fee, Amount Purchased, Percentage	1

Collaboration Agreements

6 Months Ended

Jun. 30, 2026

Collaboration Agreements [Abstract]

Collaboration Agreements

The Company has entered into multiple collaborations, out-licenses and strategic alliances with third parties that typically involve payments to or from the Company, including upfront payments, payments for research and development services, option payments, milestone payments and royalty payments to or from the Company. The terms and conditions as

well as the accounting analysis for the Company’s significant collaborations, out-licenses and strategic alliances are described in Note 9, “Collaboration Agreements,” to the consolidated financial statements included in the Annual Report.

Collaboration Revenue

As of June 30, 2026, the Company’s contract liabilities were primarily related to the Company’s collaboration with BMS. The following table presents changes in the Company’s accounts receivable and contract liabilities for the six months ended (in thousands):


	Balance at December 31, 2025		Additions		Deductions		Balance at June 30, 2026
Accounts receivable	$	15,176	$	6,744	$	(19,195)	$	2,725
Contract liabilities:
Deferred revenue	$	44,509	$	—	$	(8,194)	$	36,315

Amendment to BMS Collaboration Agreement

In March 2024, the Company entered into an amendment (“2024 Amendment”) to the Second Amended and Restated Collaboration and License Agreement, dated as of November 11, 2019, by and between the Company and BMS, through its wholly owned subsidiary Juno Therapeutics, to extend the collaboration to November 2026, with options to extend the collaboration for up to an additional two years, and to provide BMS the ability to select up to three new gene targets for research. As of June 30, 2026, the options to extend the collaboration have expired.

The Company’s accounting assessment for the 2024 Amendment is described in Note 9, “Collaboration Agreements,” to the consolidated financial statements included in the Annual Report.

As of June 30, 2026, there was $32.3 million of short-term deferred revenue and no long-term deferred revenue in the accompanying condensed consolidated balance sheets. As of December 31, 2025, there was $44.5 million of long-term deferred revenue in the accompanying condensed consolidated balance sheets. The Company recognized $8.2 million of revenue related to the expiration of certain material rights to opt-in to additional research programs under its collaboration with BMS during the three and six months ended June 30, 2026. This amount was included in deferred revenue at the beginning of the period. During the three and six months ended June 30, 2025, the Company did not recognize any revenue related to its collaboration with BMS.

In addition to the collaboration agreements discussed above, the Company has various other collaboration agreements that are not individually significant to its operating results or financial condition at this time. Pursuant to the terms of those agreements, the Company may be required to pay, or it may receive, additional payments contingent upon the occurrence of future events (e.g., upon the achievement of various development and commercial milestones), which in the aggregate could be significant. The Company may also incur, or be reimbursed for, significant research and development costs pursuant to these collaboration agreements. In addition, if any future products related to these collaborations are approved for sale, the Company may be required to pay, or it may receive, royalties on future sales of those products. The payment or receipt of these amounts, however, is contingent upon the occurrence of future events. Due to the uncertainty of clinical development and the high historical failure rates generally associated with drug development and commercialization, it is possible the Company may not receive any such payments under any or all of its existing collaboration and license agreements, including the agreements described within this note.

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2026	Jul. 31, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2026
Document Transition Report	false
Entity File Number	001-37687
Entity Registrant Name	EDITAS MEDICINE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-4097528
Entity Address, Address Line One	11 Hurley Street
Entity Address, City or Town	Cambridge
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02141
City Area Code	617
Local Phone Number	401-9000
Title of 12(b) Security	Common Stock
Trading Symbol	EDIT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		153,580,035
Entity Central Index Key	0001650664
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Amendment flag	false

Stock-based Compensation - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Total stock-based compensation expense	$ 2,193,000	$ 2,664,000	$ 4,295,000	$ 5,643,000
Performance Shares \| Share-Based Payment Arrangement, Employee
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issued (in shares)			0	0
Total stock-based compensation expense	0	$ 0	$ 0	$ 0
Unvested restricted stock unit awards
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issued (in shares)			0
Unrecognized stock-based compensation expense	1,700,000		$ 1,700,000
Period for recognition			1 year 1 month 6 days
Stock Options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized stock-based compensation expense	$ 14,100,000		$ 14,100,000
Period for recognition			2 years 9 months 18 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Net Loss per Share

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Net Loss per Share

Basic net loss per common share is calculated by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. Diluted net loss per share is computed by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock and potentially dilutive securities outstanding for the period determined using the treasury stock and if converted methods. Contingently issuable shares are included in the calculation of basic loss per share as of the beginning of the period in which all the necessary conditions have been satisfied. Contingently issuable shares are included in diluted loss per share based on the number of shares, if any, that would be issuable under the terms of the arrangement if the end of the reporting period was the end of the contingency period, if the results are dilutive.

For purposes of the diluted net loss per share calculation, unvested restricted stock unit awards, outstanding stock options, and outstanding common stock warrants are considered to be common stock equivalents, but they were excluded from the Company’s calculation of diluted net loss per share allocable to common stockholders because their inclusion would have been anti-dilutive. Therefore, basic and diluted net loss per share applicable to common stockholders were the same for all periods presented.

The following common stock equivalents were excluded from the calculation of diluted net loss per share allocable to common stockholders because their inclusion would have been anti-dilutive:


	June 30,
	2026	2025
Unvested restricted stock unit awards	428,434	923,539
Outstanding stock options	12,287,025	10,445,817
Outstanding common stock warrants	55,555,556	—
Total	68,271,015	11,369,356

Net Loss per Share (Details) - shares	6 Months Ended
Net Loss per Share (Details) - shares	Jun. 30, 2026	Jun. 30, 2025
Potentially dilutive securities
Anti-dilutive common stock equivalent shares (in shares)	68,271,015	11,369,356
Unvested restricted stock unit awards
Potentially dilutive securities
Anti-dilutive common stock equivalent shares (in shares)	428,434	923,539
Outstanding stock options
Potentially dilutive securities
Anti-dilutive common stock equivalent shares (in shares)	12,287,025	10,445,817
Outstanding common stock warrants
Potentially dilutive securities
Anti-dilutive common stock equivalent shares (in shares)	55,555,556	0

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Commitments and Contingencies (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Apr. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Jan. 31, 2025	Sep. 30, 2024	Dec. 31, 2023
Commitments and contingencies
Final fixed payment				$ 4,011	$ 11,048
License and Service Agreement
Commitments and contingencies
Operating lease, termination notification period (in months)							18 months	12 months
Remaining payments owed						$ 8,900
Final fixed payment	$ 3,700
Licensor Expense Reimbursements
Commitments and contingencies
Expense for prosecution and maintenance of patent rights		$ 3,400	$ 2,300	$ 5,700	$ 4,200

Common Stock - Narrative (Details) $ / shares in Units, $ in Thousands		3 Months Ended			6 Months Ended
	May 26, 2026 USD ($) patient scenario $ / shares shares	Jun. 30, 2026 $ / shares shares	Jun. 30, 2025 shares	Mar. 31, 2025 shares	Jun. 30, 2026 USD ($) $ / shares	Jun. 30, 2025 USD ($)	Dec. 31, 2025 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, par value (in dollars per share)		$ 0.0001			$ 0.0001		$ 0.0001
Proceeds from issuance of common stock \| $					$ 117,499	$ 8,619
Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of common stock issued (in shares) \| shares		55,555,556	3,419,836	706,236
Underwritten Offering
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of common stock issued (in shares) \| shares	55,555,556
Proceeds from issuance of warrants \| $	$ 125,000
Underwritten Offering \| Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, par value (in dollars per share)	$ 0.0001
Common Stock Warrants
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price per share	$ 0.0001
Proceeds from issuance of warrants \| $	$ 37,700
Net proceeds \| $	$ 116,900
Class of warrant or right fair value per warrant or right (in dollars per share)	$ 1.33
Share price	$ 3.08
Proceeds from issuance of common stock \| $	$ 87,300
Issuance costs \| $	$ 8,100
Common Stock Warrants \| Valuation Technique, Option Pricing Model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Class of warrant or right fair value per warrant or right (in dollars per share)	$ 1.33
Number of scenarios used in valuation model \| scenario	2
Warrants and rights outstanding, term	3 years
Share price	$ 3.08
Share-based compensation arrangement by share-based payment award, fair value assumptions, expected volatility rate, minimum	94.50%
Share-based compensation arrangement by share-based payment award, fair value assumptions, expected volatility rate, maximum	94.80%
Expected dividend yield	0.00%
Common Stock Warrants \| Underwritten Offering
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Sale of stock, price per share	$ 2.25
Sale of stock consideration received per share	2.115
Exercise price per share	$ 3.50
Class of warrant or right expiration period	30 days
Class of warrant or right, number of minimum patients required \| patient	3
Class of warrant or right, number of minimum patients required	80.00%
Net proceeds \| $	$ 116,900
Common Stock Warrants \| Underwritten Offering \| Valuation Technique, Option Pricing Model
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Exercise price per share	$ 3.50
Pre Funded Warrants \| Underwritten Offering
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Class of warrant or right, number of securities called by warrants or rights \| shares	55,555,556
Exercise price per share	$ 3.4999

Debt

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Debt

Liability for the Sale of Future Revenues

On October 3, 2024, the Company entered into the DRI Agreement under which it sold, transferred, assigned, and conveyed to DRI certain future license fees and other payments owed to the Company by Vertex under the terms of the Vertex License Agreement in exchange for an upfront cash payment by DRI to the Company of $57.0 million. Under the

DRI Agreement, DRI is purchasing up to 100% of certain future fixed and sales-based annual license fees that the Company is entitled to receive under the Vertex License Agreement, which fees range from $5.0 million to $40.0 million per year, including increases based on sales. In addition, DRI is purchasing a mid-double-digit percentage of a $50.0 million contingent upfront payment that the Company may receive under the Vertex License Agreement. All amounts above will be adjusted to exclude payments that the Company owes to Broad and Harvard under the Cas9-I License Agreement, as defined in Note 7, Commitments and Contingencies. The Company has retained rights to certain portions of certain sales-based annual license fees and the contingent upfront payment that may become due under the Vertex License Agreement, and the amounts that correspond to its licensor obligations.

In accordance with ASC Topic 470, Borrower’s Accounting for Debt Modification, the Company has accounted for the transaction as debt. The gross proceeds of $57.0 million were recorded as a liability for the sale of future revenues, net of transaction costs of $1.8 million, which will be amortized over the estimated life of the arrangement using the effective interest method.

The Company estimates the effective interest rate used to record non-cash interest expense under the DRI Agreement based on the estimate of future revenue payments to be made to DRI. As of June 30, 2026, the estimated effective interest rate under the agreement was 7.7%. Over the life of the arrangement, the actual effective interest rate will be affected by the amount and timing of the payments made to DRI and changes in the Company's revenue forecasts. At each reporting date, the Company will reassess its estimate of total future payments to be made to DRI, and prospectively adjust the effective interest rate and amortization of the liability as necessary.

The following table presents the changes in the liability related to the sale of future revenues under the DRI Agreement as of June 30, 2026 (in thousands):


	June 30, 2026
Deferred royalty obligation related to the sale of future revenues, net as of December 31, 2025	$	58,605
Repayments on sale of future revenues	—
Payments for accrued interest on sale of future revenues	(5,000)
Non-cash interest expense associated with sale of future revenues	2,008
Amortization of issuance costs	125
Deferred royalty obligation related to the sale of future revenues, net as of June 30, 2026	$	55,738

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 35: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Stock-based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expense

Total compensation cost recognized for all stock-based compensation awards in the condensed consolidated statements of operations was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Research and development	$	644	$	863	$	1,187	$	1,770
General and administrative	1,549		1,801		3,108		3,873
Total stock-based compensation expense	$	2,193	$	2,664	$	4,295	$	5,643

Schedule of Changes in Unvested Restricted Stock

The following is a summary of restricted stock units activity for the six months ended June 30, 2026:


	Shares	Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock units as of December 31, 2025	595,730	$	9.11
Issued	—	$	—
Vested	(88,306)	$	10.22
Forfeited	(78,990)	$	8.42
Unvested restricted stock units as of June 30, 2026	428,434	$	9.11

Schedule of Stock Option Activity

The following is a summary of stock option activity for the six months ended June 30, 2026:


	Shares	Weighted Average Exercise Price		Remaining Contractual Life (years)	Aggregate Intrinsic Value
Outstanding at December 31, 2025	8,403,694	$	8.37	7.65	$	1,395
Granted	4,789,807	$	2.53
Exercised	(20,040)	$	1.80
Expired	(439,869)	$	18.75
Forfeited	(446,567)	$	2.66
Outstanding at June 30, 2026	12,287,025	$	5.94	8.27	$	9,322
Vested and expected to vest at June 30, 2026	12,287,025	$	5.94	8.27	$	9,322
Exercisable at June 30, 2026	4,510,084	$	11.62	6.67	$	1,926

Fair Value Measurements

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Assets measured at fair value on a recurring basis as of June 30, 2026 were as follows (in thousands):


	June 30, 2026		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	171,834	$	171,834	$	—	$	—
U.S. Treasuries	9,981		9,981		—		—
Marketable securities:



U.S. Treasuries	29,830		29,830		—		—
Restricted cash and other non-current assets:
Money market funds	2,670		2,670		—		—
Total financial assets	$	214,315	$	214,315	$	—	$	—

Assets measured at fair value on a recurring basis as of December 31, 2025 were as follows (in thousands):


	December 31, 2025		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	146,645	$	146,645	$	—	$	—





Restricted cash and other non-current assets:
Money market funds	2,670		2,670		—		—
Total financial assets	$	149,315	$	149,315	$	—	$	—

The fair value of the Company’s liability for sale of future revenues, as described in Note 12, “Debt”, approximates the amount recorded on the Company’s balance sheet as of June 30, 2026 and December 31, 2025, which represents a Level 3 fair value measurement.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	6 Months Ended
Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
Debt Instrument [Roll Forward]
Repayments on sale of future revenues	$ 0	$ (2,872)
Payments for accrued interest on sale of future revenues	(5,000)	$ (2,128)
DRI Healthcare Acquisitions LP \| License Agreement
Debt Instrument [Roll Forward]
Deferred royalty obligation related to the sale of future revenues, net as of December 31, 2025	58,605
Repayments on sale of future revenues	0
Payments for accrued interest on sale of future revenues	(5,000)
Non-cash interest expense associated with sale of future revenues	2,008
Amortization of issuance costs	125
Deferred royalty obligation related to the sale of future revenues, net as of June 30, 2026	$ 55,738

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.9-06)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
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-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477657/942-210-S45-1

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-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (b)
-Publisher FASB
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Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 944
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(16)(a)(2))
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (b)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-4

+ Details

Restructuring and Impairment Charges - Schedule of Restructuring and Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Restructuring and Related Activities [Abstract]
Employee termination benefits	$ 0	$ 813	$ 0	$ 4,322
Costs for ongoing contracts and terminated contracts	(1,339)	23,466	(1,339)	52,341
Acceleration of expense for change in useful life estimate and lease termination	0	1,803	0	6,548
Impairment charges	0	0	0	3,724
Total restructuring and impairment charges	$ (1,339)	$ 26,082	$ (1,339)	$ 66,935

Restructuring and Impairment Charges - Schedule of Employee Termination Benefits (Details) - Employee Termination Benefits $ in Thousands	6 Months Ended
	Jun. 30, 2026 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 1,555
Employee termination benefits charges incurred during period	0
Amounts paid or otherwise settled during the period	(1,530)
Ending balance	$ 25

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 181,815	$ 146,645
Marketable securities	29,830	0
Accounts receivable	2,725	15,176
Prepaid expenses and other current assets	3,697	2,074
Total current assets	218,067	163,895
Property and equipment, net	2,574	3,542
Right-of-use assets	13,747	16,121
Restricted cash and other non-current assets	2,976	2,976
Total assets	237,364	186,534
Current liabilities:
Accounts payable	4,741	2,605
Accrued expenses	17,365	32,610
Liability for sale of future revenues, current	7,500	5,000
Deferred revenue, current	32,315	0
Operating lease liabilities, current	6,513	6,031
Total current liabilities	68,434	46,246
Operating lease liabilities, net of current portion	8,998	12,071
Liability for sale of future revenues, net of current portion	48,238	53,605
Deferred revenue, net of current portion	4,000	44,509
Other non-current liabilities	2,413	2,815
Total liabilities	132,083	159,246
Commitments and contingencies (Note 7)
Stockholders’ equity
Preferred stock, $0.0001 par value per share: 5,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.0001 par value per share: 390,000,000 shares authorized; 153,530,898 and 97,866,996 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	15	10
Additional paid-in capital	1,776,987	1,655,781
Accumulated other comprehensive income (loss)	(6)	0
Accumulated deficit	(1,671,715)	(1,628,503)
Total stockholders’ equity	105,281	27,288
Total liabilities and stockholders’ equity	$ 237,364	$ 186,534

Segments - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025
Operating expenses:
Collaboration and other research and development revenues	$ 11,890		$ 3,578		$ 14,721	$ 8,236
Total stock-based compensation expense	2,193		2,664		4,295	5,643
Total operating expenses	30,444		55,122		58,278	135,943
Interest expense related to sale of future revenues	(1,061)		(2,020)		(2,133)	(4,236)
Interest income, net	1,368		2,087		2,574	4,803
Other income (expense), net	17		(1,758)		(96)	(2,183)
Total other income (expense), net	324		(1,691)		345	(1,616)
Net loss	(18,230)	$ (24,982)	(53,235)	$ (76,088)	(43,212)	(129,323)
Reportable Segment
Operating expenses:
Collaboration and other research and development revenues	11,890		3,578		14,721	8,236
Total operating expenses	30,444		55,122		58,278	135,943
Interest expense related to sale of future revenues	(1,061)		(2,020)		(2,133)	(4,236)
Interest income, net	1,368		2,087		2,574	4,803
Other income (expense), net	17		(1,758)		(96)	(2,183)
Total other income (expense), net	324		(1,691)		345	(1,616)
Net loss	(18,230)		(53,235)		(43,212)	(129,323)
Income Statement Location [Axis]: us-gaap:GeneralAndAdministrativeExpense
Operating expenses:
Total stock-based compensation expense	1,549		1,801		3,108	3,873
Income Statement Location [Axis]: us-gaap:GeneralAndAdministrativeExpense \| Reportable Segment
Operating expenses:
Employee related expenses	1,972		3,436		4,081	8,541
Facility expenses / Facility and other expenses	1,687		1,941		3,261	4,762
Total stock-based compensation expense	1,549		1,801		3,108	3,873
Professional service expenses	1,838		3,711		3,728	6,151
Intellectual property and patent related fees	4,557		3,221		7,659	5,767
Total restructuring and impairment charges	0		1,300		0	2,900
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense
Operating expenses:
Total stock-based compensation expense	644		863		1,187	1,770
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense \| Reportable Segment
Operating expenses:
Employee related expenses	4,900		8,575		10,320	22,742
External research and development expenses	5,851		25,111		9,355	60,466
Facility expenses / Facility and other expenses	3,287		4,581		6,512	13,974
Total stock-based compensation expense	644		863		1,187	1,770
Sublicense and license fees	1,643		95		4,054	112
Other expenses	2,516		1,787		5,013	7,785
Total restructuring and impairment charges	$ 1,300		$ 24,800		$ 1,300	$ 64,100

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Collaboration and other research and development revenues	$ 11,890	$ 3,578	$ 14,721	$ 8,236
Operating expenses:
Research and development	20,180	16,181	37,780	42,774
General and administrative	11,603	12,859	21,837	26,234
Restructuring and impairment charges	(1,339)	26,082	(1,339)	66,935
Total operating expenses	30,444	55,122	58,278	135,943
Operating loss	(18,554)	(51,544)	(43,557)	(127,707)
Other income (expense), net:
Interest expense related to sale of future revenues	(1,061)	(2,020)	(2,133)	(4,236)
Interest income, net	1,368	2,087	2,574	4,803
Other income (expense), net	17	(1,758)	(96)	(2,183)
Total other income (expense), net	324	(1,691)	345	(1,616)
Net loss	$ (18,230)	$ (53,235)	$ (43,212)	$ (129,323)
Net loss per share, basic (in dollars per share)	$ (0.15)	$ (0.63)	$ (0.40)	$ (1.54)
Net loss per share, diluted (in dollars per share)	$ (0.15)	$ (0.63)	$ (0.40)	$ (1.54)
Weighted-average common shares outstanding, basic (in shares)	119,294,615	84,412,200	108,646,137	83,737,382
Weighted-average common shares outstanding, diluted (in shares)	119,294,615	84,412,200	108,646,137	83,737,382

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is a party to a number of license agreements under which the Company licenses patents, patent applications and other intellectual property from third parties. As such, the Company is obligated to pay licensors for various costs including upfront license fees, annual license fees, certain licensor expense reimbursements, success payments, research funding payments, and milestones triggerable upon certain development, regulatory, and commercial events as well as royalties on future product sales. These contracts are generally cancellable, with notice, at the Company’s option and do not have significant cancellation penalties. The terms and conditions as well as the accounting analysis for the Company’s significant commitments and contingencies are described in Note 8, “Commitments and Contingencies” to the consolidated financial statements included in the Annual Report. There have been no material changes to the terms and conditions, or the accounting conclusions, previously disclosed in the Annual Report. The Company is not currently subject to any material contingencies that require disclosure. Licensor Expense Reimbursement The Company is obligated to reimburse The Broad Institute, Inc. (“Broad”) and the President and Fellows of Harvard College (“Harvard”) for expenses incurred by each of them associated with the prosecution and maintenance of the patent rights that the Company licenses from them pursuant to the Amended and Restated Cas9-I License Agreement by and among the Company, Broad, and Harvard (the “Cas9-I License Agreement”), including the interference and opposition proceedings involving patents licensed to the Company under the license agreement, and other license agreements between the Company and Broad. The Company incurred an aggregate of $3.4 million and $5.7 million in expenses during the three and six months ended June 30, 2026, respectively. The Company incurred an aggregate of $2.3 million and $4.2 million in expense during the three and six months ended June 30, 2025, respectively, for such reimbursement. Lease Termination In 2023, the Company entered into a license and service agreement pursuant to which it leased manufacturing space for its continued research and development activities. The lease commenced April 1, 2024. In September 2024, the Company entered into a modification of the lease, and as a result of the modification the lease payments decreased and the notification period for the termination of the license and service agreement increased from 12 months’ prior written notice to 18 months’ prior written notice. In January 2025, the Company gave its termination notice on the license and service agreement, which resulted in the end of the term of the agreement being July 2026, and $8.9 million of remaining payments owed. In April 2025, the Company entered into a further modification to the lease providing that the lease would terminate on April 30, 2025 with a final fixed payment of $3.7 million.

Accrued Expenses

6 Months Ended

Jun. 30, 2026

Accrued Liabilities, Current [Abstract]

Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	June 30, 2026		December 31, 2025
External research and development expenses	$	4,946	$	9,672
Employee related expenses	3,225		5,220
Sublicense and license fees	1,187		5,501
Intellectual property and patent related fees	1,700		2,105
Professional service expenses	381		232
Employee termination benefits	25		1,555
Restructuring contract costs	5,606		7,769
Other expenses	295		556
Total accrued expenses	$	17,365	$	32,610

Segments

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Segments

Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the Chief Operating Decision Maker (“CODM”) or decision-making group in making decisions on how to allocate resources and assess performance. The Company’s CODM is its Chief Executive Officer (“CEO”). The CEO views the Company’s operations and manages the Company’s business as one operating segment, which is the business of developing and commercializing gene editing technology.

The Company’s CEO manages and allocates resources to the operations of the Company on a total company basis by assessing the overall level of resources available and how to best deploy these resources across functions and research and development projects that are in line with the Company’s long-term company-wide strategic goals. In making these decisions, the Company’s CEO uses consolidated financial information for purposes of evaluating performance, forecasting future period financial results, allocating resources and setting incentive targets. The CODM performs this assessment based on the Company’s consolidated net loss. Through this analysis, the CODM assesses performance by comparing actual consolidated net loss versus the budget, and then decides how to allocate resources to invest in the Company’s research and development programs. The measure of segment assets is reported on the condensed consolidated balance sheet as total assets.

The following table contains additional information on the Company’s consolidated revenue and net loss, including significant segment expenses (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025			2026		2025
Collaboration and other research and development revenues	$	11,890	$	3,578		$	14,721	$	8,236
Operating expenses:
Research and development1
Employee related expenses	4,900		8,575			10,320		22,742
External research and development expenses	5,851		25,111			9,355		60,466
Facility expenses	3,287		4,581			6,512		13,974
Stock-based compensation expenses	644		863			1,187		1,770
Sublicense and license fees	1,643		95			4,054		112
Other expenses3	2,516		1,787			5,013		7,785
General and administrative2
Employee related expenses	1,972		3,436			4,081		8,541
Professional service expenses	1,838		3,711			3,728		6,151
Intellectual property and patent related fees	4,557		3,221			7,659		5,767
Stock-based compensation expenses	1,549		1,801			3,108		3,873
Facility and other expenses4	1,687		1,941			3,261		4,762
Total operating expenses	30,444		55,122			58,278		135,943


Interest expense related to sale of future revenues	(1,061)		(2,020)			(2,133)		(4,236)
Interest income, net	1,368		2,087			2,574		4,803
Other income (expense), net	17		(1,758)			(96)		(2,183)
Total other income (expense), net	324		(1,691)			345		(1,616)
Net loss	$	(18,230)	$	(53,235)		$	(43,212)	$	(129,323)

1 For the three and six months ended June 30, 2026, research and development includes $1.3 million of benefit within restructuring and impairment charges. For the three and six months ended June 30, 2025, research and development includes $24.8 million and $64.1 million of restructuring and impairment charges, respectively.
2 For the three and six months ended June 30, 2026, general and administrative includes no restructuring and impairment charges. For the three and six months ended June 30, 2025, general and administrative includes $1.3 million and $2.9 million of restructuring and impairment charges, respectively.
3 Other expenses primarily consists of impairment charges, consultant fees, and office expenses.
4 Facility and other expenses primarily consists of rent expense, insurance premiums, depreciation expense, software licenses, and office expenses.

- Definition

The entire disclosure for segment reporting.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Cash Equivalents and Marketable Securities - Narrative (Details) - USD ($)	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash and Cash Equivalents [Abstract]
Realized gains (losses) on available-for-sale securities	$ 0	$ 0

Restructuring and Impairment Charges (Tables)

6 Months Ended

Jun. 30, 2026

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The Company incurred the following restructuring and impairment charges in connection with the Discontinuation and Reduction for the three and six months ended June 30, 2026 and 2025, which are recorded in the condensed consolidated statements of operations (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Employee termination benefits	$	—	$	813	$	—	$	4,322
Costs for ongoing contracts and terminated contracts	(1,339)		23,466		(1,339)		52,341
Acceleration of expense for change in useful life estimate and lease termination	—		1,803		—		6,548
Impairment charges	—		—		—		3,724
Total restructuring and impairment charges	$	(1,339)	$	26,082	$	(1,339)	$	66,935

Schedule of Employee Termination Benefits

The following table shows the liability related to employee termination benefits as of June 30, 2026 (in thousands):


	Employee Termination Benefits
Accrued employee termination benefits as of December 31, 2025	$	1,555
Employee termination benefits charges incurred during period	—
Amounts paid or otherwise settled during the period	(1,530)
Accrued employee termination benefits as of June 30, 2026	$	25

Schedule of Contract Termination Costs

The following table shows the liability related to costs for ongoing contracts and contract termination costs as of June 30, 2026 (in thousands):


	Contract Costs
Accrued contract costs as of December 31, 2025	$	10,196
Contract costs incurred during the period	(1,339)
Amounts paid or otherwise settled during the period	(973)
Accrued contract costs as of June 30, 2026	$	7,884

Cash Equivalents and Marketable Securities

6 Months Ended

Jun. 30, 2026

Cash and Cash Equivalents [Abstract]

Cash Equivalents and Marketable Securities

Cash equivalents and marketable securities consisted of the following at June 30, 2026 (in thousands):


	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents and marketable securities:
Money market funds	$	171,834	—		—		—		171,834
U.S. Treasuries	39,817		—		—		(6)		39,811



Total	$	211,651	$	—	$	—	$	(6)	$	211,645

Cash equivalents consisted of the following at December 31, 2025 (in thousands):


	Amortized Cost		Allowance for Credit Losses		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Cash equivalents:

Money market funds	146,645		—		—		—		146,645



Total	$	146,645	$	—	$	—	$	—	$	146,645

There were no realized gains or losses on available-for-sale securities during the three months ended June 30, 2026 or 2025.

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flow from operating activities
Net loss	$ (43,212)	$ (129,323)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	4,295	5,643
Depreciation	899	3,751
Loss on disposal of fixed assets	111	2,193
Net accretion of discounts on marketable securities	(142)	(840)
Interest related to sale of future revenues	2,133	4,236
Impairment of held for sale assets	0	3,724
Other non-cash items	(17)	(390)
Changes in operating assets and liabilities:
Accounts receivable	12,451	15,678
Prepaid expenses and other current assets	(1,623)	(418)
Right-of-use assets	2,242	8,694
Other non-current assets	0	1,025
Accounts payable	1,669	1,231
Accrued expenses	(15,397)	2,271
Accrued interest on sale of future revenues	(5,000)	(2,128)
Deferred revenue	(8,194)	(6,221)
Operating lease liabilities	(2,442)	(9,048)
Other non-current liabilities	(402)	1,911
Net cash used in operating activities	(52,629)	(98,011)
Cash flow from investing activities
Purchases of property and equipment	(198)	(114)
Proceeds from the sale of equipment	156	151
Purchases of marketable securities	(29,694)	0
Proceeds from maturities of marketable securities	0	99,000
Net cash provided by (used in) investing activities	(29,736)	99,037
Cash flow from financing activities
Proceeds from offering of common stock, net of issuance costs	117,499	8,619
Repayment on sale of future revenues	0	(2,872)
Proceeds from exercise of stock options	36	0
Proceeds from issuance of common stock under employee stock purchase plan	0	228
Net cash provided by financing activities	117,535	5,975
Net increase (decrease) in cash, cash equivalents, and restricted cash	35,170	7,001
Cash, cash equivalents, and restricted cash, beginning of period	149,315	135,418
Cash, cash equivalents, and restricted cash, end of period	184,485	142,419
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation [Abstract]
Cash and cash equivalents, end of period	181,815	138,542
Restricted cash	2,670	3,877
Cash, cash equivalents, and restricted cash, end of period	184,485	142,419
Supplemental disclosure of cash and non-cash activities:
Offering expenses included in accounts payable and accrued expenses	619	0
Cash paid for interest	5,000	2,128
Cash paid in connection with operating lease liabilities	4,011	11,048
Remeasurement of operating lease liabilities and right-of-use assets due to lease modification	793	766
Non-cash termination of right-of-use asset	$ 0	$ 4,849

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance, beginning of period (in shares) at Dec. 31, 2024		82,734,696
Balance, beginning of period at Dec. 31, 2024	$ 134,274	$ 8	$ 1,602,441	$ 268	$ (1,468,443)
Statement of Stockholders' Equity (Deficit)
Issuance of common stock (in shares)		706,236
Issuance of common stock	1,435		1,435
Stock-based compensation expense	2,979		2,979
Vesting of restricted common stock awards (in shares)		268,604
Unrealized loss on marketable debt securities	(180)			(180)
Net loss	(76,088)				(76,088)
Balance, end of period (in shares) at Mar. 31, 2025		83,709,536
Balance, end of period at Mar. 31, 2025	62,420	$ 8	1,606,855	88	(1,544,531)
Balance, beginning of period (in shares) at Dec. 31, 2024		82,734,696
Balance, beginning of period at Dec. 31, 2024	134,274	$ 8	1,602,441	268	(1,468,443)
Statement of Stockholders' Equity (Deficit)
Unrealized loss on marketable debt securities	(253)
Net loss	(129,323)
Balance, end of period (in shares) at Jun. 30, 2025		87,388,425
Balance, end of period at Jun. 30, 2025	19,189	$ 9	1,616,931	15	(1,597,766)
Balance, beginning of period (in shares) at Mar. 31, 2025		83,709,536
Balance, beginning of period at Mar. 31, 2025	62,420	$ 8	1,606,855	88	(1,544,531)
Statement of Stockholders' Equity (Deficit)
Issuance of common stock (in shares)		3,419,836
Issuance of common stock	7,185	$ 1	7,184
Stock-based compensation expense	2,664		2,664
Vesting of restricted common stock awards (in shares)		102,894
Issuance of common stock under employee stock purchase plan (in shares)		156,159
Issuance of common stock under employee stock purchase plan	228		228
Unrealized loss on marketable debt securities	(73)			(73)
Net loss	(53,235)				(53,235)
Balance, end of period (in shares) at Jun. 30, 2025		87,388,425
Balance, end of period at Jun. 30, 2025	19,189	$ 9	1,616,931	15	(1,597,766)
Balance, beginning of period (in shares) at Dec. 31, 2025		97,866,996
Balance, beginning of period at Dec. 31, 2025	27,288	$ 10	1,655,781	0	(1,628,503)
Statement of Stockholders' Equity (Deficit)
Stock-based compensation expense	2,102		2,102
Vesting of restricted common stock awards (in shares)		34,038
Net loss	(24,982)				(24,982)
Balance, end of period (in shares) at Mar. 31, 2026		97,901,034
Balance, end of period at Mar. 31, 2026	4,408	$ 10	1,657,883	0	(1,653,485)
Balance, beginning of period (in shares) at Dec. 31, 2025		97,866,996
Balance, beginning of period at Dec. 31, 2025	27,288	$ 10	1,655,781	0	(1,628,503)
Statement of Stockholders' Equity (Deficit)
Unrealized loss on marketable debt securities	(6)
Net loss	(43,212)
Balance, end of period (in shares) at Jun. 30, 2026		153,530,898
Balance, end of period at Jun. 30, 2026	105,281	$ 15	1,776,987	(6)	(1,671,715)
Balance, beginning of period (in shares) at Mar. 31, 2026		97,901,034
Balance, beginning of period at Mar. 31, 2026	4,408	$ 10	1,657,883	0	(1,653,485)
Statement of Stockholders' Equity (Deficit)
Issuance of common stock (in shares)		55,555,556
Issuance of common stock	116,880	$ 5	116,875
Exercise of stock options (in shares)		20,040
Exercise of stock options	36		36
Stock-based compensation expense	2,193		2,193
Vesting of restricted common stock awards (in shares)		54,268
Unrealized loss on marketable debt securities	(6)			(6)
Net loss	(18,230)				(18,230)
Balance, end of period (in shares) at Jun. 30, 2026		153,530,898
Balance, end of period at Jun. 30, 2026	$ 105,281	$ 15	$ 1,776,987	$ (6)	$ (1,671,715)

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	390,000,000	390,000,000
Common stock, shares issued (in shares)	153,530,898	153,530,898
Common stock, shares outstanding (in shares)	97,866,996	97,866,996

- Definition

Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.

+ References + Details

- Definition

Number of shares issued for nonredeemable preferred shares and preferred shares redeemable solely at option of issuer. Includes, but is not limited to, preferred shares issued, repurchased, and held as treasury shares. Excludes preferred shares classified as debt.

+ References + Details

- Definition

Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.

+ References

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+ Details

Property and Equipment, net (Tables)

6 Months Ended

Jun. 30, 2026

Property, Plant, and Equipment [Abstract]

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following (in thousands):


	June 30, 2026		December 31, 2025
Laboratory equipment	$	19,198	$	21,558
Leasehold improvements	8,404		8,403
Computer equipment	1,161		1,399

Furniture and office equipment	191		191
Software	320		344
Total property and equipment	29,274		31,895
Less: accumulated depreciation	(26,700)		(28,353)
Property and equipment, net	$	2,574	$	3,542

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule of Assets Measured at Fair Value on a Recurring Basis

Assets measured at fair value on a recurring basis as of June 30, 2026 were as follows (in thousands):


	June 30, 2026		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	171,834	$	171,834	$	—	$	—
U.S. Treasuries	9,981		9,981		—		—
Marketable securities:



U.S. Treasuries	29,830		29,830		—		—
Restricted cash and other non-current assets:
Money market funds	2,670		2,670		—		—
Total financial assets	$	214,315	$	214,315	$	—	$	—

Assets measured at fair value on a recurring basis as of December 31, 2025 were as follows (in thousands):


	December 31, 2025		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	146,645	$	146,645	$	—	$	—





Restricted cash and other non-current assets:
Money market funds	2,670		2,670		—		—
Total financial assets	$	149,315	$	149,315	$	—	$	—

Stock-based Compensation

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

Total compensation cost recognized for all stock-based compensation awards in the condensed consolidated statements of operations was as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Research and development	$	644	$	863	$	1,187	$	1,770
General and administrative	1,549		1,801		3,108		3,873
Total stock-based compensation expense	$	2,193	$	2,664	$	4,295	$	5,643

Restricted Stock Units

The following is a summary of restricted stock units activity for the six months ended June 30, 2026:


	Shares	Weighted Average Grant Date Fair Value Per Share
Unvested restricted stock units as of December 31, 2025	595,730	$	9.11
Issued	—	$	—
Vested	(88,306)	$	10.22
Forfeited	(78,990)	$	8.42
Unvested restricted stock units as of June 30, 2026	428,434	$	9.11

There were no restricted stock units that contained performance-based vesting provisions granted in the six months ended June 30, 2026 and 2025. There was no expense related to the vesting of performance-based restricted stock units for the three and six months ended June 30, 2026 and 2025.

As of June 30, 2026, total unrecognized compensation expense related to unvested restricted stock units was $1.7 million, which the Company expects to recognize over a remaining weighted-average period of 1.1 years.

Stock Options

The following is a summary of stock option activity for the six months ended June 30, 2026:


	Shares	Weighted Average Exercise Price		Remaining Contractual Life (years)	Aggregate Intrinsic Value
Outstanding at December 31, 2025	8,403,694	$	8.37	7.65	$	1,395
Granted	4,789,807	$	2.53
Exercised	(20,040)	$	1.80
Expired	(439,869)	$	18.75
Forfeited	(446,567)	$	2.66
Outstanding at June 30, 2026	12,287,025	$	5.94	8.27	$	9,322
Vested and expected to vest at June 30, 2026	12,287,025	$	5.94	8.27	$	9,322
Exercisable at June 30, 2026	4,510,084	$	11.62	6.67	$	1,926

As of June 30, 2026, total unrecognized compensation expense related to stock options was $14.1 million, which the Company expects to recognize over a remaining weighted-average period of 2.8 years.

Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2026

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following (in thousands):


	June 30, 2026		December 31, 2025
External research and development expenses	$	4,946	$	9,672
Employee related expenses	3,225		5,220
Sublicense and license fees	1,187		5,501
Intellectual property and patent related fees	1,700		2,105
Professional service expenses	381		232
Employee termination benefits	25		1,555
Restructuring contract costs	5,606		7,769
Other expenses	295		556
Total accrued expenses	$	17,365	$	32,610

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net loss	$ (18,230)	$ (53,235)	$ (43,212)	$ (129,323)
Other comprehensive loss:
Unrealized loss on marketable debt securities	(6)	(73)	(6)	(253)
Comprehensive loss	$ (18,236)	$ (53,308)	$ (43,218)	$ (129,576)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

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-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
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Reference 46: http://www.xbrl.org/2003/role/disclosureRef
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Reference 48: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Debt (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of Debt

The following table presents the changes in the liability related to the sale of future revenues under the DRI Agreement as of June 30, 2026 (in thousands):


	June 30, 2026
Deferred royalty obligation related to the sale of future revenues, net as of December 31, 2025	$	58,605
Repayments on sale of future revenues	—
Payments for accrued interest on sale of future revenues	(5,000)
Non-cash interest expense associated with sale of future revenues	2,008
Amortization of issuance costs	125
Deferred royalty obligation related to the sale of future revenues, net as of June 30, 2026	$	55,738

Restructuring and Impairment Charges - Schedule of Contract Termination Costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2026
Restructuring Reserve [Roll Forward]
Contract costs incurred during the period	$ (4,800)
Contract Costs
Restructuring Reserve [Roll Forward]
Beginning balance		$ 10,196
Contract costs incurred during the period		(1,339)
Amounts paid or otherwise settled during the period		(973)
Ending balance		$ 7,884

Restructuring and Impairment Charges

6 Months Ended

Jun. 30, 2026

Restructuring and Related Activities [Abstract]

Restructuring and Impairment Charges

On December 11, 2024, the Company’s board of directors approved the discontinuation of the clinical development of the Company's renizgamglogene autogedtemcel (“reni-cel”) program to treat sickle cell disease and transfusion-dependent beta thalassemia (the “Discontinuation”). As a result of the Discontinuation, the Company ceased activities towards the filing of a biologic license application and potential commercialization of reni-cel. In connection with the Discontinuation, the Company’s board of directors also approved a reduction in the Company’s employee workforce by approximately 180 positions, or approximately 65% (the “Reduction”).


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Employee termination benefits	$	—	$	813	$	—	$	4,322
Costs for ongoing contracts and terminated contracts	(1,339)		23,466		(1,339)		52,341
Acceleration of expense for change in useful life estimate and lease termination	—		1,803		—		6,548
Impairment charges	—		—		—		3,724
Total restructuring and impairment charges	$	(1,339)	$	26,082	$	(1,339)	$	66,935

The actions associated with the Discontinuation and Reduction commenced in December 2024 and were substantially completed by December 31, 2025.

Employee Termination Benefits

Employees affected by the Reduction received involuntary termination benefits pursuant to either a one-time benefit or arrangement or salary continuation for a set period of time in accordance with the Company’s Amended and Restated Severance Benefit Plan (the “Benefit Plan”). For employees who were notified of their termination in December 2024 and had no requirements to provide future services or were subject to the Benefit Plan, the Company recognized the liability for the termination benefits in full at fair value in the fourth quarter of 2024. For employees who were required to render services beyond a minimum retention period to receive their one-time termination benefits or salary continuation, the Company recognized the termination benefits ratably over their future service periods. The service periods began in December 2024 and were completed in 2025.

The following table shows the liability related to employee termination benefits as of June 30, 2026 (in thousands):


	Employee Termination Benefits
Accrued employee termination benefits as of December 31, 2025	$	1,555
Employee termination benefits charges incurred during period	—
Amounts paid or otherwise settled during the period	(1,530)
Accrued employee termination benefits as of June 30, 2026	$	25

Costs for Ongoing Contracts and Terminated Contracts

The Discontinuation resulted in contract termination costs from vendor contracts before the end of their term, as well as costs that continue to be incurred under certain contracts with no future economic benefit to the Company. In accordance with ASC 420, the Company recognized these unavoidable contract costs when incurred for terminated contracts or at the cease-use date, as it relates to contract costs that continue to be incurred.

The following table shows the liability related to costs for ongoing contracts and contract termination costs as of June 30, 2026 (in thousands):


	Contract Costs
Accrued contract costs as of December 31, 2025	$	10,196
Contract costs incurred during the period	(1,339)
Amounts paid or otherwise settled during the period	(973)
Accrued contract costs as of June 30, 2026	$	7,884

At June 30, 2026, $2.3 million of accrued contract costs was included in Other non-current liabilities on the condensed consolidated balance sheet.

These costs are subject to significant estimation based on the Company's expectation of the costs that will continue to be incurred on the contracts, as well as negotiation of contract changes and terminations with its vendors. Changes in these estimates will be made in the period the information is knowable and could be material. During the three months ended June 30, 2026, the Company revised its estimate of the costs for ongoing contracts and terminated contracts based on the negotiation and finalization of contract terminations with its vendors. As a result, the Company recorded a decrease of $1.3 million in the related restructuring liability and a corresponding benefit within restructuring and impairment charges for the three and six months ended June 30, 2026.

Impairment and Accelerated Depreciation Charges

In conjunction with the Discontinuation, the Company committed to a plan to actively sell specific assets within its asset group, primarily certain of its laboratory and manufacturing equipment. The Company recorded a $3.8 million impairment charge during the year ended December 31, 2025 related to the sale of the specified assets. The sale was completed in April 2025.

Additionally, the Company abandoned certain other leasehold improvements, software, and right-of-use assets in the second quarter of 2025, and as a result, the Company accelerated depreciation and rent expense. The Company recorded $1.8 million of accelerated depreciation related to leasehold improvements and software and $4.8 million of charges related to the termination of leases as of December 31, 2025. The Company recognized no impairment and accelerated depreciation charges during the three and six months ended June 30, 2026.