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Significant Agreements and Contracts (Tables) | 6 Months Ended
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Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Contract Liability Activity | The following table presents a summary of the activity in the Company's contract liabilities related to the Chiesi Collaboration Agreement (recorded as contract liabilities on the balance sheet) during the six months ended June 30, 2024 (in thousands):
Balance, December 31, 2023 | $ | — |
Payments received in advance | 160,000 |
Revenue from sale of US license | (76,686) |
Revenue from sale of ROW license | (12,050) |
Revenue from PAH research and development service performance obligations satisfied during reporting period | (3,398) |
Revenue from PH-ILD research and development service performance obligations satisfied during reporting period | (60) |
Equity Option granted to Chiesi | (464) |
Effect of exchange rate changes on contract liabilities | (646) |
Balance, June 30, 2024 | $ | 66,696 |
Schedule of Contract Revenues Disaggregated by Timing of Revenue Recognition and Excludes Royalty Revenue | The following table presents our contract revenues from Chiesi Collaboration Agreement disaggregated by timing of revenue recognition and excluding royalty revenue (in thousands):
| Three and Six Months Ended June 30, 2024 |  |
Revenue from Chiesi Collaboration Agreement: |  |  |
Point in Time: |  |  |
US License | $ | 76,686 |  |  |
ROW License | 12,050 |  |  |
Over Time: |  |  |
Revenue from PAH research and development service performance obligation satisfied during reporting period | 3,398 |  |  |
Revenue from PH-ILD research and development service performance obligation satisfied during reporting period | 60 |  |  |
Revenue from PAH research and development costs subject to reimbursement | 3,297 |  |  |
Revenue from PH-ILD research and development costs subject to reimbursement | 333 |  |  |
Effect of exchange rate changes on revenue | 18 |  |  |
Total revenue from Chiesi Collaboration Agreement | $ | 95,842 |  |  |

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- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 + Details
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