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Moderna Collaboration and License Agreement (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]    
Schedule of Estimated Revenue Expected to be Recognized in The Future Related to Performance Obligations

    

Transaction

price unsatisfied

Performance obligations:

 

  

Option rights

$

41,250

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied as of December 31, 2024 (in thousands):

    

Transaction

price unsatisfied

Performance obligations:

 

  

Research and development

$

35,301

Option rights

 

41,250

Total performance obligations

$

76,551

Schedule of Changes in Deferred Revenue

The following table summarizes the changes in deferred revenue (in thousands):

    

Three Months Ended March 31,

    

2025

    

2024

Balance at the beginning of the period

$

44,979

$

46,413

Deferral of revenue

 

 

3,173

Recognition of unearned revenue

 

(3,729)

 

(3,397)

Balance at the end of the period

$

41,250

$

46,189

The following table summarizes the changes in deferred revenue (in thousands):

Years Ended December 31,

    

2024

    

2023

Balance at the beginning of the period

$

46,413

$

47,459

Deferral of revenue

 

16,198

 

13,873

Recognition of unearned revenue

 

(17,632)

 

(14,919)

Balance at the end of the period

$

44,979

$

46,413