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Collaboration and License Agreements and Supply Agreements (Tables)

9 Months Ended

Sep. 30, 2024

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Summary of Recognized Revenue

In accordance with the collaboration, license and supply agreements, the Company recognized revenue as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2024				2023				2024				2023
		(in thousands)								(in thousands)
Astellas Pharma Inc. (“Astellas”)		$	7,661			$	9,988			$	43,798			$	23,593
Tasly Biopharmaceuticals Co., Ltd. (“Tasly”)			32				5,072				1,007				5,072
Vaxcyte, Inc. ("Vaxcyte")			656				1,592				2,149				2,970
Ipsen Pharma SAS (“Ipsen”)			166				-				261				-
Merck Sharp & Dohme Corporation (“Merck”)			5				83				19				2,776
Bristol Myers Squibb Company (“BMS”)			-				189				-				5,591
Merck KGaA, Darmstadt, Germany (operating in the United   States and Canada under the name “EMD Serono”)			-				-				-				8
Total revenue		$	8,520			$	16,924			$	47,234			$	40,010

Summary of Deferred Revenue Balance

The following table presents the changes in the Company’s deferred revenue balance from the agreements during the nine months ended September 30, 2024:

		Nine Months Ended
		September 30, 2024
		(in thousands)
Deferred revenue—December 31, 2023		$	74,045
Additions to deferred revenue			50,429
Recognition of revenue in current period			(33,915	)
Deferred revenue—September 30, 2024		$	90,559

Vaxcyte, Inc.

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Summary of Recognized Revenue

Revenues under the Vaxcyte agreements were as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2024				2023				2024				2023
		(in thousands)								(in thousands)
Research and development services		$	563			$	636			$	1,860			$	1,707
Materials supply			93				956				289				1,263
Total revenue		$	656			$	1,592			$	2,149			$	2,970

Astellas License and Collaboration Agreement

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Summary of Recognized Revenue

Revenues under the Astellas Agreement were as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2024				2023				2024				2023
		(in thousands)								(in thousands)
Ongoing performance related to    unsatisfied performance obligations		$	5,095			$	5,612			$	33,915			$	11,423
Research and development services			1,274				1,920				4,278				4,639
Financing component on unearned revenue			1,268				2,456				5,186				7,531
Materials supply			24				-				419				-
Total revenue		$	7,661			$	9,988			$	43,798			$	23,593

Tasly License Agreement

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Summary of Recognized Revenue

Revenues under the Tasly agreements were as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2024				2023				2024				2023
		(in thousands)								(in thousands)
Contingent payment		$	-			$	5,000			$	-			$	5,000
Research and development services			32				72				70				72
Materials supply			-				-				937				-
Total revenue		$	32			$	5,072			$	1,007			$	5,072

Ipsen Agreement

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Summary of Recognized Revenue

Revenues under the Ipsen agreements were as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2024				2023				2024				2023
		(in thousands)								(in thousands)
Research and development services		$	93			$	–			$	111			$	–
Materials supply			73				–				150				–
Total revenue		$	166			$	–			$	261			$	–

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 808
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479402/808-10-50-1

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