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Revenue
 12 Months Ended
Dec. 31, 2024
Revenue  
Revenue

(14) Revenue

Contract and Grants Revenue

The Company has entered into agreements with Rockefeller University (“Rockefeller”) pursuant to which the Company performs manufacturing and research and development services on a time-and-materials basis or at a negotiated fixed price. The Company recognized $7.0 million, $6.6 million and $1.8 million in revenue under the agreements with Rockefeller during the years ended December 31, 2024, 2023 and 2022, respectively.

Contract Assets and Liabilities

At December 31, 2024 and 2023, the Company’s right to consideration under all contracts was considered unconditional, and as such, there were no recorded contract assets. At December 31, 2024, the Company had no material contract liabilities recorded. At December 31, 2023, the Company had $3.1 million in contract liabilities recorded. Revenue recognized from contract liabilities as of December 31, 2023 during the year ended December 31, 2024 was $3.1 million.