Revenues (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Summary of Revenues by Collaboration, Category of Revenue and Method of Recognition

The following table summarizes our revenues by collaboration, category of revenue, and the method of recognition (in millions):

			Year Ended December 31,
	Over time	Point in time	2025		2024		2023
Gilead Collaboration
License and development services	*		$	214	$	207	$	75
R&D services	*		10		8		4
Access rights	*		16		28		33
Taiho Collaboration
License		*	7		15		—
Other	*		—		—		5
Total revenues			$	247	$	258	$	117
Total revenues from collaborations			$	214	$	207	$	80
Total revenues from a customer			$	33	$	51	$	37

Summary of Revenue Recognized as a Result of Changes in Deferred Revenue

The following table summarizes the revenue recognized as a result of changes in the deferred revenue balance (in millions):

	Year Ended December 31,
	2025		2024		2023
Revenue recognized from amounts in deferred revenue at the beginning of the period	$	240	$	243	$	108

Summary of Transaction Price and Allocation of Transaction Price to the Performance Obligations

The following table summarizes the transaction price (in millions):

Transaction price	Amount
Premium from Third Stock Purchase Agreement Amendment	87
Option continuation payment received in the third quarter of 2024	100
Deferred revenue as of January 2024	335
Total transaction price	$	522

The following table summarizes the allocation of the updated transaction price to the remaining unsatisfied and partially satisfied performance obligations (in millions):

Allocation to performance obligations	Distinct	Combined	Amount
License and development services		*	378
Development services	*		33
Access rights and option continuation periods	*		77
Rights to certain studies	*		34
Total transaction price			$	522

The following table summarizes the allocation of the updated transaction price to the remaining unsatisfied and partially satisfied performance obligations (in millions):

Allocation to performance obligations	Distinct	Combined	Amount
License and development services		*	$	192
Development services	*		17
Access right and option continuation periods	*		30
Rights to certain studies	*		17
Total transaction price			$	256

The following table summarizes the allocation of the transaction price of $15 million to the performance obligations (in millions):

Allocation to performance obligations	Distinct	Amount
License	*	$	7
R&D services	*	8
Total transaction price		$	15