XML 38 R27.htm IDEA: XBRL DOCUMENT v3.25.2
Collaboration and license agreements (Tables)
6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of allocation of transaction price
The following table summarizes the allocation of the total transaction price to the identified performance obligations under the arrangement, and the amount of the transaction price unsatisfied as of June 30, 2025 (in thousands):
Transaction
Price
Allocated
Transaction
Price
Unsatisfied
Performance obligations:  
Research and development targets$20,688 $12,272 
Option rights2,376 2,376 
Total$23,064 $14,648 
Schedule of revenue from collaboration agreements
Revenue from collaboration agreements for the three and six months ended June 30, 2025 and 2024 in the condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Revenue from collaboration agreements:  
MKDG Agreement$3,428 $1,894 $6,581 $1,949 
Merck Agreement1,049 1,102 2,178 1,747 
Betta Agreement54 — 514 — 
Roche Agreement1,932 963 4,428 2,451 
Biogen Agreement— 8,047 — 8,898 
Total revenue from collaboration agreements$6,463 $12,006 $13,701 $15,045 
Schedule of financial information related to collaboration and license agreements
Financial information related to the collaboration and license agreements consisted of the following in the Company’s condensed consolidated balance sheet as of June 30, 2025 (in thousands):
 Accounts
Receivable
Deferred Revenue,
Current
Deferred Revenue,
Net of Current
Deferred Revenue,
Total
Supplemental information:    
MKDG Agreement$2,013 $6,811 $5,081 $11,892 
Merck Agreement— 3,441 402 3,843 
Betta Agreements145 2,992 11,978 14,970 
Roche Agreement— 9,376 3,689 13,065 
Total$2,158 $22,620 $21,150 $43,770 
Financial information related to the collaboration and license agreements consisted of the following in the Company’s condensed consolidated balance sheet as of December 31, 2024 (in thousands):
 Accounts
Receivable
Deferred Revenue,
Current
Deferred Revenue,
Net of Current
Deferred Revenue,
Total
Supplemental information:    
MKDG Agreement$2,064 $5,396 $7,977 $13,373 
Merck Agreement— 3,441 2,581 6,022 
Betta Agreements1,038 4,038 11,243 15,281 
Roche Agreement— 5,837 6,656 12,493 
Total$3,102 $18,712 $28,457 $47,169 
Schedule of supplemental financial information related to collaboration and license agreements
Supplemental financial information related to the collaboration and license agreements for the three and six months ended June 30, 2025 and 2024 are (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Revenue recognized that was included in the contract liability at the beginning of the period$6,512 $2,065 $11,821 $5,003