License, Collaboration and Service Agreements (Tables)

3 Months Ended

Mar. 31, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of remaining potential milestone payments

Remaining potential payments under the GSK License Agreement, which include milestones and royalties based on commercial launch and achievement of pre-specified sales thresholds, are as follows (in millions):


Contingent Event	Milestone Payment
Total potential commercial milestones based on first commercial sales	$	101.0		*
First commercial sale of a product in the United States		—			$	51.0
Second anniversary of first commercial sale of a product in the United States		—			$	25.0
First commercial sale of a product in two European countries		—			$	25.0
Total potential sales milestone payments	$	225.0
Net annual sales greater than $200.0		—			$	25.0
Net annual sales greater than $300.0		—			$	25.0
Net annual sales greater than $400.0		—			$	25.0
Net annual sales greater than $500.0		—			$	50.0
Net annual sales greater than $750.0		—			$	50.0
Net annual sales greater than $1,000.0		—			$	50.0

*Under the terms of the GSK License Agreement, the maximum potential milestone amount was revised from $150.0 million after PIVOT-PO was stopped early for efficacy following completion of a pre-specified interim analysis of data from 1,690 patients enrolled in the trial, thereby reducing the overall cost of the trial to the Company; the maximum potential milestone payment of $150.0 million was contingent upon the trial continuing to full enrollment, with 2,637 patients enrolled in the trial.