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REVENUE (Tables) | 3 Months Ended
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Mar. 31, 2025
Disclosure of disaggregation of revenue from contracts with customers [abstract] |
Summary of Analysis of Revenue | An analysis of revenue is as follows:
| Three months ended March 31,
| 2025 |  | 2024
| US$’000 |  | US$’000
Revenue: |  |  |
License revenue |  |  |
License revenue - Novartis | 9,348 |  |  | 12,181 |
License revenue - total | 9,348 |  |  | 12,181 |
Collaboration revenue | 185,615 |  |  | 78,481 |
Other revenue | 90 |  |  | 3,329 |
Total Revenue | 195,053 |  |  | 93,991 |
Summary of Revenue by Geographic Area | An analysis of revenue by geographic area is as follows. The revenue information is based on the locations of the customers.
| Three months ended March 31,
| 2025 |  | 2024
| US$’000 |  | US$’000
License and other revenue |  |  |
United States of America | 9,348 |  |  | 15,369 |
China | 90 |  |  | 141 |
Total revenue and other revenue | 9,438 |  |  | 15,510 |
Collaboration Revenue |  |  |
United States of America | 158,942 |  |  | 70,109 |
Europe | 26,673 |  |  | 8,372 |
Total collaboration revenue | 185,615 |  |  | 78,481 |
Total Revenue | 195,053 |  |  | 93,991 |
Summary of Disclosure of Timing of transfer of Goods or Services | An analysis of the timing of transfer of goods or services is as follows:
| Three months ended March 31,
| 2025 |  | 2024
| US$’000 |  | US$’000
Revenue at a point in time | 185,705 |  |  | 81,810 |
Revenue over time* | 9,348 |  |  | 12,181 |
Total Revenue | 195,053 |  |  | 93,991 |
*All revenue streams are recognized at a point in time except for License Revenue for Novartis which is recognized over time.
Summary of Deferred Revenue from Contract Liabilities | The following table shows the deferred revenue which is included in contract liabilities for the periods presented:
| March 31 |  | December 31
| 2025 |  | 2024
| US$’000 |  | US$’000
Contract liabilities (Current) | 39,535 |  |  | 46,874 |
Total | 39,535 |  |  | 46,874 |

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