Collaboration and License Agreement (Tables)

9 Months Ended

Sep. 30, 2023

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Schedule of Revenue From Collaboration Agreements

The following table presents revenue from collaboration agreements:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
	(in thousands)
Roche Collaboration and License Agreement	$	1,659	$	112,344	$	11,796	$	112,344
Bristol Myers Squibb Collaboration and License Agreement		500		201		15,817		1,288
Ono Collaboration Agreement		—		—		10,473		—
Total revenue	$	2,159	$	112,545	$	38,086	$	113,632

Roche

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Schedule of Transaction Price Performance Obligations

Based on the relative stand-alone selling price, the allocation of the transaction price to the separate performance obligations is as follows:

Performance obligation	Transaction price
	(in thousands)
Combined licenses	$	105,327
Completion of Continuing Trials		30,585
Transfer of clinical trial materials		2,714
Total transaction price	$	138,626

Schedule of Deferred Revenue

Deferred revenue pertaining to the Roche Agreement	Completion of Continuing Trials
	(in thousands)
Balance as of December 31, 2022	$	17,957
Increase in collaboration revenue receivable		4,000
Recognition as revenue, as the result of performance obligations satisfied		(5,312	)
Balance as of March 31, 2023	$	16,645
Recognition as revenue, as the result of performance obligations satisfied		(4,825	)
Balance as of June 30, 2023	$	11,820
Recognition as revenue, as the result of performance obligations satisfied		(1,659	)
Balance as of September 30, 2023	$	10,161
Classified as short-term	$	7,685
Classified as long-term		2,476

Bristol-Myers Squibb Company

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Schedule of Transaction Price Performance Obligations

Based on the relative stand-alone selling price, the allocation of the transaction price to the separate performance obligations was as follows:

Performance obligation	Transaction price
	(in thousands)
Research activities	$	6,405
Options to license druggable targets		31,148
Options to license undruggable targets		12,447
Total transaction price	$	50,000

Schedule of Deferred Revenue

Deferred revenue pertaining to the BMS Agreement	Research activities			Options to license druggable targets			Options to license undruggable targets		Total
	(in thousands)
Balance as of December 31, 2022	$	2,448		$	12,459		$	12,447	$	27,354
Recognition as revenue, as the result of performance obligations    satisfied		(366	)		-			-		(366	)
Balance as of March 31, 2023	$	2,082		$	12,459		$	12,447	$	26,988
Increase in collaboration revenue receivable		-			1,250			-		1,250
Recognition as revenue, as the result of performance obligations    satisfied		(1,242	)		(13,709	)		-		(14,951	)
Balance as of June 30, 2023	$	840		$	-		$	12,447	$	13,287
Recognition as revenue, as the result of performance obligations    satisfied		(500	)		-			-		(500	)
Balance as of September 30, 2023	$	340		$	-		$	12,447	$	12,787
Classified as short-term	$	340		$	-		$	12,447	$	12,787

Ono Pharmaceutical Company Ltd

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Schedule of Deferred Revenue

Deferred revenue pertaining to the Ono Agreement	Research activities
	(in thousands)
Balance as of December 31, 2022	$	10,473
Recognition as revenue, as the result of performance obligations satisfied		-
Balance as of March 31, 2023	$	10,473
Recognition as revenue, as the result of performance obligations satisfied		(10,473	)
Balance as of June 30, 2023	$	-