Collaboration and License Agreements (Tables)

9 Months Ended

Sep. 30, 2024

Revenue Recognition [Abstract]

Summary of Collaboration Revenue

During the three and nine months ended September 30, 2024 and 2023, the Company recorded profit-sharing amount, profit-sharing amount constrained, and profit-sharing amount previously constrained, released as components of collaboration revenue in the unaudited condensed consolidated statements of operations, as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Profit-sharing amount	$	(1,102)	$	(6,038)	$	(1,334)	$	(7,198)
Profit-sharing amount constrained	—		—		(700)		—
Profit-sharing amount previously constrained, released	—		1,651		—		35,606
Total collaboration revenue, net	$	(1,102)	$	(4,387)	$	(2,034)	$	28,408

Summary of Asset Acquisition

The following table summarizes the aggregate amount paid for the assets acquired by the Company in connection with the Sanofi Agreement (in thousands):

Upfront	$	100,000
Equipment	1,150
Deposits	2,580
Transaction costs	4,612
Total purchase consideration	$	108,342

The total purchase price was allocated to the acquired assets based on their relative fair values, as follows (in thousands):

In-process research and development ("IPR&D")	$	102,836
Property and Equipment	1,119
Prepaid expenses and other current assets (1)	3,975
Assembled workforce	412
Total purchase consideration	$	108,342

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(1) Includes acquired cash deposits primarily related to contract manufacturing agreements.