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Collaborations (Tables)

9 Months Ended

Sep. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Company's Accompanying Condensed Consolidated Financial Statements Attributable to Transactions Arising From Collaboration Arrangements

The following tables provide amounts by year indicated and by line item included in the Company's accompanying condensed consolidated financial statements attributable to transactions arising from its collaboration arrangements. The dollar amounts in the tables below are in thousands.


		Incyte				Lilly				Other				Total
CONTRACT ASSETS
Accounts receivable
Balance at January 1, 2023		$	—			$	—			$	1,068			$	1,068
Billings			10,779				3,497				68				14,344
Cash receipts			(9,779	)			(3,497	)			(1,142	)			(14,418	)
Adjustments			—				—				—				—
Foreign exchange			—				—				6				6
Balance at September 30, 2023		$	1,000			$	—			$	—			$	1,000

Unbilled receivables
Balance at January 1, 2023		$	1,987			$	808			$	189			$	2,984
Accrued receivables			10,152				3,541				—				13,693
Billings			(10,779	)			(3,497	)			—				(14,276	)
Adjustments			44				(7	)			—				37
Foreign exchange			—				—				(4	)			(4	)
Balance at September 30, 2023		$	1,404			$	845			$	185			$	2,434

CONTRACT LIABILITIES
Deferred revenue
Balance at January 1, 2023		$	52,059			$	16,130			$	—			$	68,189
Additions to contract consideration			—				—				—				—
Revenue recognized in the period			(12,912	)			(8,270	)			—				(21,182	)
Foreign exchange			(68	)			54				—				(14	)
Balance at September 30, 2023			39,079				7,914				—				46,993
Less: current portion			(16,882	)			(6,137	)			—				(23,019	)
Non-current balance at September 30, 2023		$	22,197			$	1,777			$	—			$	23,974

Summary of Company's Collaboration Arrangements Earned in Period to Be Billed and Collected in Next Period

Contract Revenues and Expenses


		Three Months Ended September 30, 2023
		(In thousands)
		Third Party
		Incyte				Lilly				Other				Total
Upfront payments		$	4,371			$	789			$	—			$	5,160
Reimbursement revenue			1,547				847				—				2,394
Milestones			3,479				—				—				3,479
Other			—				—				—				—
Total collaboration revenue		$	9,397			$	1,636			$	—			$	11,033
Operating expenses:
Research and development expense		$	—			$	—			$	—			$	—
General and administrative expense			—				—				—				—
Total operating expenses from collaborations		$	—			$	—			$	—			$	—
Revenue recognized that was included in deferred revenue at the beginning of the period		$	4,371			$	789			$	—			$	5,160

		Three Months Ended September 30, 2022
		(In thousands)
		Third Party
		Incyte				Lilly				Other				Total
Upfront payments		$	4,045			$	(551	)		$	—			$	3,494
Reimbursement revenue			2,300				787				—				3,087
Milestones			—				—				—				—
Other			—				—				—				—
Total collaboration revenue		$	6,345			$	236			$	—			$	6,581
Operating expenses:
Research and development expense		$	162			$	—			$	—			$	162
General and administrative expense			—				—				—				—
Total operating expenses from collaborations		$	162			$	—			$	—			$	162
Revenue recognized that was included in deferred revenue at the beginning of the period		$	4,045			$	(551	)		$	—			$	3,494


		Nine Months Ended September 30, 2023
		(In thousands)
		Third Party
		Incyte				Lilly				Other				Total
Upfront payments		$	12,912			$	8,270			$	—			$	21,182
Reimbursement revenue			4,248				3,543				—				7,791
Milestones			5,980				—				—				5,980
Other			—				—				55				55
Total collaboration revenue		$	23,140			$	11,813			$	55			$	35,008
Operating expenses:
Research and development expense		$	24			$	—			$	—			$	24
General and administrative expense			—				—				—				—
Total operating expenses from collaborations		$	24			$	—			$	—			$	24
Revenue recognized that was included in deferred revenue at the beginning of the period		$	12,912			$	8,270			$	—			$	21,182

		Nine Months Ended September 30, 2022
		(In thousands)
		Third Party
		Incyte				Lilly				Other				Total
Upfront payments		$	12,677			$	7,634			$	222			$	20,533
Reimbursement revenue			6,514				2,823				—				9,337
Milestones			1,000				—				—				1,000
Other			—				—				50				50
Total collaboration revenue		$	20,191			$	10,457			$	272			$	30,920
Operating expenses:
Research and development expense		$	712			$	—			$	—			$	712
General and administrative expense			—				—				—				—
Total operating expenses from collaborations		$	712			$	—			$	—			$	712
Revenue recognized that was included in deferred revenue at the beginning of the period		$	12,677			$	7,634			$	222			$	20,533