Significant Agreements	9 Months Ended
Sep. 30, 2026
Disclosure Text Block [Abstract]
Significant Agreements	Note 6. Significant Agreements Lilly In January 2023, the Company entered into the Lilly Collaboration Agreement with Lilly. Under the agreement, the Company granted Lilly exclusive worldwide rights to develop and commercialize certain program molecules and products. Under the terms of the agreement, the Company received a $55.0 million upfront payment and, in July 2024, received a $15.0 million development milestone payment. After giving effect to the $15.0 million milestone payment received, the Company is eligible to receive up to an additional $577.5 million in development, commercialization, and sales milestone payments, as well as royalties on net sales. In June 2026, the Company and Lilly entered into the First Amendment to the Research Collaboration and License Agreement. The amendment modified the achievement criteria for certain development milestones related to specified product candidates under the collaboration and established related development reporting requirements. Under the amended terms, the applicable milestones are tied to specified clinical-development events. The amendment also modified certain rights and obligations of the parties in connection with Lilly’s continuation or discontinuation of development of the applicable product candidates, including certain contingent rights of the Company following discontinuation. The amendment did not provide for any additional consideration, and no additional variable consideration was included in the transaction price upon execution of the amendment. The Company did not recognize any collaboration revenue under the Lilly Collaboration Agreement for the three and nine months ended September 30, 2026 and 2025 because the research term expired and the combined performance obligation was fully satisfied during the year ended December 31, 2024, and no development, commercialization, or sales milestones were achieved during those periods.

Significant Agreements

9 Months Ended

Sep. 30, 2026

Note 6. Significant Agreements

Lilly

In January 2023, the Company entered into the Lilly Collaboration Agreement with Lilly. Under the agreement, the Company granted Lilly exclusive worldwide rights to develop and commercialize certain program molecules and products. Under the terms of the agreement, the Company received a $55.0 million upfront payment and, in July 2024, received a $15.0 million development milestone payment. After giving effect to the $15.0 million milestone payment received, the Company is eligible to receive up to an additional $577.5 million in development, commercialization, and sales milestone payments, as well as royalties on net sales.

In June 2026, the Company and Lilly entered into the First Amendment to the Research Collaboration and License Agreement. The amendment modified the achievement criteria for certain development milestones related to specified product candidates under the collaboration and established related development reporting requirements. Under the amended terms, the applicable milestones are tied to specified clinical-development events. The amendment also modified certain rights and obligations of the parties in connection with Lilly’s continuation or discontinuation of development of the applicable product candidates, including certain contingent rights of the Company following discontinuation. The amendment did not provide for any additional consideration, and no additional variable consideration was included in the transaction price upon execution of the amendment. The Company did not recognize any collaboration revenue under the Lilly Collaboration Agreement for the three and nine months ended September 30, 2026 and 2025 because the research term expired and the combined performance obligation was fully satisfied during the year ended December 31, 2024, and no development, commercialization, or sales milestones were achieved during those periods.