v3.25.1
NET REVENUES FROM COLLABORATIONS (Tables)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Revenue from Collaborators
Net revenues from collaborations consist of the following:
Three Months Ended March 31,
(In thousands)20252024
Roche
$17,056 $74,680 
Regeneron Pharmaceuticals51,039 26,764 
Novartis AG— 14,516 
Other31,090 2,588 
Total$99,185 $118,548 
Summary of Balance and Change in Receivables and Contract Liabilities Related to Collaboration Agreements
The following table presents the balance of our receivables and contract liabilities related to our collaboration agreements:
(In thousands)As of March 31, 2025As of December 31, 2024
Receivables included in accounts receivable, net
$80,422 $102,743 
Contract liabilities included in deferred revenue
$28,160 $55,481 
Summary of Allocated Transaction Price Based on Accounting Guidance
The following tables provide a summary of the transaction price allocated to each performance obligation, in addition to revenue activity during the period, in thousands:
Revenue Recognized During
Transaction Price AllocatedThree Months Ended March 31,
Performance ObligationsAs of March 31, 202520252024
Roche License Obligation
$375,000 $— $65,000 
Roche Development Services Obligation
937,533 15,840 7,151 
Roche Technology Transfer Obligation
2,000 — — 
$1,314,533 $15,840 $72,151