Collaborations, Licensing and Other Arrangements (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Total Revenue from Collaboration and Services

Revenue from collaborations and services were as follows (in thousands):

	Year Ended December 31,
	2024		2023		2022
UT CSA(1)	$	96,228	$	52,025	$	24,826
UT License Agreement (2)		2,865		782		2,426
Cipla License and Distribution Agreement		1,247		147		147
Amphastar co-promotion agreement		500		—		—
Other		—		—		525
Total revenue from collaborations and services	$	100,840	$	52,954	$	27,924

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(1)Amounts consist of revenue recognized for Manufacturing Services to UT for the periods presented.

(2)Amounts consist of revenue recognized for Next-Gen R&D Services and R&D Services and License for the periods presented.

Schedule of Deferred Revenue Related to Revenue Recognized for Collaborations and Services

The activity related to deferred revenue and the related revenue recognized for collaborations and services is as follows (in thousands):

	December 31, 2024			December 31, 2023
Deferred revenue:
Beginning balance	$	78,879		$	39,417
Additions		85,528			92,416
Collaborations and services revenue		(100,840	)		(52,954	)
Ending balance	$	63,567		$	78,879

United Therapeutics Corporation

Schedule of Total Revenue from Collaboration and Services

Total revenue from UT was as follows (in thousands):

	Year Ended December 31,
	2024		2023		2022
Revenue from UT
UT CSA	$	96,228	$	52,025	$	24,826
UT License Agreement		2,865		782		2,426
Royalties(1)		102,335		71,979		15,599
Total revenue from UT	$	201,428	$	124,786	$	42,851

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Amounts consist of royalties associated with the UT License Agreement. The contract asset related to the royalties receivable of $24.3 million, $21.7 million and $9.1 million as of December 31, 2024, 2023 and 2022, respectively, was included in prepaid expense and other current assets in the consolidated balance sheets and collected in the following quarter