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Collaboration and license agreements (Tables)
3 Months Ended
Mar. 31, 2026
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 March 31, 2026 (in thousands):
Transaction
Price
Allocated
Transaction
Price
Unsatisfied
Performance obligations:  
Research and development targets$21,053 $5,883 
Option rights2,428 2,428 
Total$23,481 $8,311 
Schedule of revenue from collaboration agreements
Revenue from collaboration agreements for the three months ended March 31, 2026 and 2025 in the condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):
 Three Months Ended March 31,
 20262025
Revenue from collaboration agreements:  
MKDG Agreement$1,762 $3,153 
Betta Agreement460 
Roche Agreement2,385 2,496 
Biogen Agreement2,000 — 
Merck Agreement— 1,129 
Total revenue from collaboration agreements$6,152 $7,238 
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 March 31, 2026 (in thousands):
 Accounts
Receivable
Deferred Revenue,
Current
Deferred Revenue,
Net of Current
Deferred Revenue,
Total
Supplemental information:    
MKDG Agreement$883 $3,034 $— $3,034 
Betta Agreements— 704 14,014 14,718 
Roche Agreement— 6,386 1,426 7,812 
Biogen Agreement2,000 — — — 
Total$2,883 $10,124 $15,440 $25,564 
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, 2025 (in thousands):
 Accounts
Receivable
Deferred Revenue,
Current
Deferred Revenue,
Net of Current
Deferred Revenue,
Total
Supplemental information:    
MKDG Agreement$1,892 $3,913 $— $3,913 
Betta Agreements531 14,194 14,725 
Roche Agreement500 8,049 1,647 9,696 
Total$2,401 $12,493 $15,841 $28,334 
Schedule of supplemental financial information related to collaboration and license agreements
Supplemental financial information related to the collaboration and license agreements for the three months ended March 31, 2026 and 2025 are (in thousands):
Three Months Ended March 31,
20262025
Revenue recognized that was included in the contract liability at the beginning of the period$2,351 $5,827