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Collaborations (Tables)

9 Months Ended

Sep. 30, 2024

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				Gilead				Other				Total
CONTRACT ASSETS
Accounts receivable
Balance at January 1, 2024		$	—			$	—			$	—			$	—			$	—
Billings			5,269				1,819				55,999				2,210				65,297
Cash receipts			(5,269	)			(1,819	)			(55,999	)			(2,210	)			(65,297	)
Adjustments			—				—				—				—				—
Foreign exchange			—				—				—								—
Balance at September 30, 2024		$	—			$	—			$	—			$	—			$	—

Unbilled receivables
Balance at January 1, 2024		$	1,397			$	839			$	—			$	193			$	2,429
Accrued receivables			4,599				688				56,045				2,197				63,529
Billings			(5,269	)			(1,322	)			(56,045	)			(2,197	)			(64,833	)
Adjustments			—				—				—				—				—
Foreign exchange			—				—				—				9				9
Balance at September 30, 2024		$	727			$	205			$	—			$	202			$	1,134

CONTRACT LIABILITIES
Deferred revenue
Balance at January 1, 2024		$	36,325			$	5,934			$	—			$	—			$	42,259
Additions to contract consideration			—				—				58,387				—				58,387
Revenue recognized in the period			(12,968	)			(5,310	)			(1,207	)			—				(19,485	)
Foreign exchange			92				(43	)			1,819				—				1,868
Balance at September 30, 2024			23,449				581				58,999				—				83,029
Less: current portion			(17,841	)			(581	)			(12,552	)							(30,974	)
Non-current balance at September 30, 2024		$	5,608			$	—			$	46,447			$	—			$	52,055

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, 2024
		(in thousands)
		Third Party
		Incyte				Lilly				Gilead				Other				Total
Collaboration Revenue
Upfront payments		$	4,400			$	4,038			$	—			$	—			$	8,438
Reimbursement revenue			943				194				—				—				1,137
Milestones			—				—				—				2,197				2,197
Other			—				—				—				—				—
Total collaboration revenue		$	5,343			$	4,232			$	—			$	2,197			$	11,772
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		$	4,400			$	4,038			$	—			$	—			$	8,438

		Three Months Ended September 30, 2023
		(in thousands)
		Third Party
		Incyte				Lilly				Gilead				Other				Total
Collaboration Revenue
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


		Nine Months Ended September 30, 2024
		(in thousands)
		Third Party
		Incyte				Lilly				Gilead				Other				Total
Collaboration Revenue
Upfront payments		$	12,968			$	5,310			$	1,207			$	—			$	19,485
Reimbursement revenue			3,603				698				—				—				4,301
Milestones			1,000				—				—				2,197				3,197
Other			—				—				—				10				10
Total collaboration revenue		$	17,571			$	6,008			$	1,207			$	2,207			$	26,993
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		$	12,968			$	5,310			$	1,207			$	—			$	19,485

		Nine Months Ended September 30, 2023
		(in thousands)
		Third Party
		Incyte				Lilly				Gilead				Other				Total
Collaboration Revenue
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