Collaboration Agreement

6 Months Ended

Jun. 30, 2024

Revenue Recognition and Deferred Revenue [Abstract]

Collaboration Agreement

9.Collaboration Agreement

The following table shows the activity for the Company’s collaboration revenue agreement and deferred revenue (in thousands):

	June 30,
	2024		2023
	(in thousands)
Balance as of beginning of period	$	—	$	442
Decrease for provision of research services		—		(442	)
Balance as of end of period	$	—	$	—

Merck

In connection with the Merger, the Company became the successor in interest to the Merck Neuromuscular License Agreement with Merck to support research, development and commercialization of products for treatment of neuromuscular diseases, including ALS. The Company recognized zero in revenue for the three and six months ended June 30, 2024. The Company recognized revenue of $161,000 for the three months ended June 30, 2023 and $442,000 for the six months ended June 30, 2023. As of June 30, 2024, the Company had zero in deferred revenue under the Merck Neuromuscular License Agreement.