XML 20 R13.htm IDEA: XBRL DOCUMENT v3.24.3
Related Parties
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
Related Parties

5. Related Parties

Relationship and transactions with Gilead Sciences, Inc. (Gilead)

 

As of September 30, 2024, Gilead Sciences, Inc. (Gilead) held approximately 13% of the Company's outstanding common stock. These holdings resulted from Gilead's investment in the Company of: (i) $100.0 million, by purchasing 3,478,261 shares of common stock at a per share price of $28.75 pursuant to a Common Stock Purchase Agreement with Gilead (Gilead SPA); and (ii) $200.0 million, by purchasing 3,242,542 shares of common stock at a per share price of $61.68 pursuant to a second Common Stock Purchase Agreement with Gilead (Second Gilead SPA). See Note 6 for further discussion of the agreements with Gilead.

 

The Company partnered anito-cel with Kite, through its co-development/co-commercialization collaboration agreement, as described in more detail in Note 6 Collaboration Agreement.

 

As of September 30, 2024, the Company had $152.5 million in contract liability pursuant to the Collaboration and License Agreement with Kite (Kite Collaboration Agreement) and its amendment, of which $82.6 million represented the long-term portion of contract liability. For the three and nine months ended September 30, 2024, the Company recognized $26.0 million and $92.7 million in revenue respectively, under the Kite Collaboration Agreement and its amendment. See Note 6 for further discussion of the Kite Collaboration Agreement.