To accelerate the development and commercialization of gene editing products in multiple therapeutic areas, the Company has formed, and intends to seek other opportunities to form, strategic alliances with collaborators who can augment its leadership in CRISPR/Cas9 therapeutic development. As of March 31, 2026 and December 31, 2025, the Company’s accounts receivable and contract liabilities were related to its collaboration with Regeneron.

The following table presents changes in the Company’s accounts receivable and contract liabilities (in thousands):


	Balance at Beginning of Period		Additions		Deductions			Balance at End of Period
Three months ended March 31, 2026
Accounts receivable	$	9,468	$	8,445	$	(8,782	)	$	9,131
Contract liabilities - deferred revenue	$	7,290	$	-	$	(6,660	)	$	630

	Balance at Beginning of Period		Additions		Deductions			Balance at End of Period
Three months ended March 31, 2025
Accounts receivable	$	8,517	$	10,203	$	(8,216	)	$	10,504
Contract liabilities - deferred revenue	$	38,917	$	-	$	(5,095	)	$	33,822

The Company has not incurred significant expenses to obtain collaboration agreements and costs to fulfill those contracts do not generate or enhance resources of the Company. As such, no costs to obtain or fulfill a contract have been capitalized in any period.

In April 2016, the Company entered into a license and collaboration agreement with Regeneron (as amended from time to time, the “2016 Regeneron Agreement”), which consisted of a product development component and a technology collaboration component. In October 2023, Regeneron notified the Company that it was exercising its one-time option to extend the term of the technology collaboration until April 2026, in exchange for a nonrefundable payment of $30.0 million that was paid in April 2024. The Company recognized $5.2 million and $5.1 million of collaboration revenue in the three months ended March 31, 2026 and 2025, respectively, in the condensed consolidated statements of operations and comprehensive loss related to the 2016

Regeneron Agreement. As of March 31, 2026, there was approximately $0.6 million of the aggregate transaction price remaining to be recognized that will be recognized through April 2026, the remaining period of the collaboration.

In March 2025, Regeneron provided notice of the achievement of a development milestone under the 2016 Regeneron Agreement. As a result of meeting this milestone, the Company recognized $1.8 million of previously constrained variable consideration as collaboration revenue within the condensed consolidated statement of operations and comprehensive loss in the three months ended March 31, 2025.

In 2018, the Company entered into a co-development and co-promotion (“Co/Co”) agreement with Regeneron for transthyretin (“ATTR”) amyloidosis (the “ATTR Co/Co”). In May 2020, the Company entered into co-development and co-funding agreements for the treatment of hemophilia A and hemophilia B (the “Hemophilia A Co/Co” and the “Hemophilia B Co/Co” agreements). The Hemophilia B Co/Co ended in September 2024. The Company recognized $8.4 million and $7.0 million of collaboration revenue, primarily representing payments due from Regeneron pursuant to the ATTR Co/Co agreement, in the three months ended March 31, 2026 and 2025, respectively. The Company did not incur material costs related to the Hemophilia A Co/Co agreement during the three months ended March 31, 2026 and 2025. Since December 31, 2025, there have been no material changes to the key terms of the 2016 Regeneron Agreement, ATTR Co/Co or Hemophilia A Co/Co, other than as described above.

As of March 31, 2026 and December 31, 2025, the Company had accounts receivable of $9.1 million and $9.5 million, respectively, and deferred revenue of $0.6 million and $7.3 million, respectively, related to the Regeneron agreements.

The Company has existing license and collaboration agreements with AvenCell, Kyverna, and ONK Therapeutics, Ltd. (“ONK”). Since December 31, 2025, there have been no material changes to the key terms of the AvenCell, Kyverna and ONK license and collaboration agreements. The Company had no material revenue from these collaborations during the three months ended March 31, 2026 and 2025.