Related-party transactions

3 Months Ended

Mar. 31, 2025

Related-party transactions

Related-party transactions

12. Related-party transactions

During the three months ended March 31, 2025, the Company received scientific advisory board and other scientific advisory services from one of its prior executives, Dinah Sah, Ph.D., the Company’s former Chief Scientific Officer. The total amount of fees paid to Dr. Sah for services provided during each of the three months ended March 31, 2025 and 2024, was $150,000.

Under both the 2019 Neurocrine Collaboration Agreement and the 2023 Neurocrine Collaboration Agreement, the Company and Neurocrine have agreed to conduct research, development and commercialization activities for certain of the Company’s AAV gene therapy product candidates. Amounts due from Neurocrine are reflected as related party collaboration receivable. Amounts received from Neurocrine that have not yet been recognized as revenue are reflected as deferred revenue. Refer to Note 8 for further description of these account balances.

For the three months ended March 31, 2025 and 2024, the Company recognized collaboration revenue of $5.0 million and $18.0 million related to the 2023 and 2019 Neurocrine Agreements.