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Significant Agreements and Contracts (Tables)

9 Months Ended

Sep. 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 nine months ended September 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			(8,132)
Revenue from PH-ILD research and development service performance obligations satisfied during reporting period			(217)
Equity Option granted to Chiesi			(464)
Effect of exchange rate changes on contract liabilities			1,656
Balance, September 30, 2024			$	64,107

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 Months Ended September 30, 2024						Nine Months ended September 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			4,735						8,133
Revenue from PH-ILD research and development service performance obligation satisfied during reporting period			157						217
Revenue from PAH research and development costs subject to reimbursement			3,516						6,812
Revenue from PH-ILD research and development costs subject to reimbursement			1,086						1,419
Effect of exchange rate changes on revenue			(14)						5
Total revenue from Chiesi Collaboration Agreement			$	9,480					$	105,322

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-10

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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

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