v3.26.1
Revenue - Summary of Revenue Recognized, Transaction Price as a Result of Recognition of Milestones, and Estimated Revenue Expected to Be Recognized (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Disaggregation of Revenue [Line Items]    
Revenue recognized $ (26,523) $ (219)
Novo Collaboration Agreement    
Disaggregation of Revenue [Line Items]    
Total transaction price [1] 291,036  
Revenue recognized [2] (71,900)  
Unrecognized transaction price as of March 31, 2026 219,136  
Novo Collaboration Agreement | Combined License and Research Services    
Disaggregation of Revenue [Line Items]    
Total transaction price 247,846  
Novo Collaboration Agreement | Material Right    
Disaggregation of Revenue [Line Items]    
Total transaction price 41,190  
Novo Collaboration Agreement | Discovery Research Milestones    
Disaggregation of Revenue [Line Items]    
Total transaction price [3] $ 2,000  
[1] Comprised of the allocation of the $195.0 million one-time, non-refundable upfront payment, of which $153.8 million was allocated to the four R&D programs and manufacturing services and $41.2 million was allocated to the material right. In addition, $94.0 million of variable consideration related to estimated research and manufacturing services for the four R&D Programs, and $2.0 million of variable consideration related to the two milestones deemed probable of achievement was allocated to the transaction price as of March 31, 2026.
[2] For the three months ended March 31, 2026, the Company recognized revenue of $26.5 million, which was comprised of $10.3 million variable consideration related to research services for the four R&D Programs and manufacturing services, $15.7 million recognition of deferred revenue for the one-time, non-refundable upfront payment, and $0.5 million milestone revenue recognized on the two milestones discussed above. The Company recognized $26.8 million of the one-time, non-refundable upfront payment and $18.6 million variable considerations related to research services for the four R&D Programs and manufacturing services during the year ended December 31, 2025.
[3] As of March 31, 2026, the Company determined that two discovery research milestones became probable of achievement. Accordingly, the Company recognized these milestones within the transaction price. The milestones recognized within the transaction price are allocated to the applicable R&D Program performance obligations to which they relate and are recognized as revenue using the input method.