v3.25.1
Collaboration and license agreements (Tables)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of allocation of transaction price
The following table summarizes the allocation of the total transaction price to the identified performance obligations under the arrangement, and the amount of the transaction price unsatisfied as of March 31, 2025 (in thousands):
Transaction
Price
Allocated		Transaction
Price
Unsatisfied
Performance obligations:  
Research and development targets$20,688 $14,204 
Option rights2,376 2,376 
Total$23,064 $16,580 
Schedule of revenue from collaboration agreements
Revenue from collaboration agreements for the three months ended March 31, 2025 and 2024 in the condensed consolidated statements of operations and comprehensive loss was as follows (in thousands):
 Three Months Ended March 31,
 20252024
Revenue from collaboration agreements:  
MKDG Agreement$3,153 $55 
Merck Agreement1,129 645 
Betta Agreement460 — 
Roche Agreement2,496 1,488 
Biogen Agreement— 851 
Total revenue from collaboration agreements$7,238 $3,039 
Schedule of financial information related to collaboration and license agreements
Financial information related to the collaboration and license agreements consisted of the following in the Company’s condensed consolidated balance sheet as of March 31, 2025 (in thousands):
 Accounts
Receivable		Deferred Revenue,
Current		Deferred Revenue,
Net of Current		Deferred Revenue,
Total
Supplemental information:    
MKDG Agreement$4,021 $5,996 $6,310 $12,306 
Merck Agreement— 3,441 1,451 4,892 
Betta Agreements7 3,100 11,907 15,007 
Roche Agreement4,000 9,048 5,449 14,497 
Total$8,028 $21,585 $25,117 $46,702 
Financial information related to the collaboration and license agreements consisted of the following in the Company’s condensed consolidated balance sheet as of December 31, 2024 (in thousands):
 Accounts
Receivable		Deferred Revenue,
Current		Deferred Revenue,
Net of Current		Deferred Revenue,
Total
Supplemental information:    
MKDG Agreement$2,064 $5,396 $7,977 $13,373 
Merck Agreement— 3,441 2,581 6,022 
Betta Agreements1,038 4,038 11,243 15,281 
Roche Agreement— 5,837 6,656 12,493 
Total$3,102 $18,712 $28,457 $47,169 
Schedule of supplemental financial information related to collaboration and license agreements
Supplemental financial information related to the collaboration and license agreements for the three months ended March 31, 2025 and 2024 are (in thousands):
Three Months Ended March 31,
20252024
Revenue recognized that was included in the contract liability at the beginning of the period$5,827 $2,744