v3.25.1
Collaboration Agreement (Tables)
3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Transaction Price The following table reflects the transaction price (in thousands):

 

 

As of March 31, 2025

 

 

 

Pre-Milestone

 

 

Milestone

 

 

Post-Milestone

 

Combined Performance Obligation

 

$

8,373

 

 

$

3,489

 

 

$

11,862

 

Development Activities Performance Obligation

 

 

3,627

 

 

 

1,511

 

 

 

5,138

 

Total

 

$

12,000

 

 

$

5,000

 

 

$

17,000

 

 

Schedule of Revenue Recognized Related to Each of the Performance Obligations and the Remaining Deferred Revenue

The following table reflects the revenue recognized related to each of the performance obligations and the remaining deferred revenue (in thousands):

 

 

As of March 31, 2025

 

 

 

Combined Performance Obligation

 

 

Development Activities Performance Obligation

 

 

Total

 

Deferred revenue at December 31, 2023

 

$

11,748

 

 

$

2,046

 

 

$

13,794

 

Revenue recognized

 

 

 

 

 

(1,534

)

 

 

(1,534

)

Deferred revenue at December 31, 2024

 

 

11,748

 

 

 

512

 

 

 

12,260

 

Revenue recognized

 

 

 

 

 

(183

)

 

 

(183

)

Deferred revenue at March 31, 2025

 

$

11,748

 

 

$

329

 

 

$

12,077