Related Parties |
3 Months Ended |
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Mar. 31, 2025 | |
| Related Party Transactions [Abstract] | |
| Related Parties | Related Parties In October 2015, the Company entered into a five-year consulting agreement with a scientific founder of the Company who is also a shareholder. This agreement was amended and extended to January 1, 2026 and is subject to automatic one-year renewal terms until terminated if notice is provided more than 30 days before the current end of term date. During the three months ended March 31, 2025 and 2024, the Company paid the scientific founder a de minimis amount. As of March 31, 2025 and December 31, 2024, the Company had no accounts payable due to the scientific founder. On December 10, 2021, we entered into the Lilly Collaboration Agreement with Lilly. Concurrent with the Lilly Collaboration Agreement the Company also entered into a stock purchase agreement with Lilly (the “Lilly SPA”) where the Company issued and sold Lilly 4,000,000 shares of our common stock at a price of $20.00 per share, making them a 5% or greater shareholder in the Company for the three months ended March 31, 2025 and 2024. We are obligated to make certain payments to Lilly pursuant to the Lilly Collaboration Agreement. During the three months ended March 31, 2025 and 2024, the Company paid Lilly $0.6 million and $1.7 million, respectively. As of March 31, 2025 and December 31, 2024, the Company had a payable of $1.4 million and $0.6 million, respectively, due to Lilly.
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