v3.26.1
COLLABORATIONS (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Revenue from Collaborators
Net revenues from collaborations consisted of the following:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Roche
$41,888 $18,267 $77,529 $35,323 
Regeneron Pharmaceuticals5,020 32,542 51,356 83,581 
Other257 10,687 355 41,777 
Total net revenues from collaborations
$47,165 $61,496 $129,240 $160,681 
Net revenues from collaborations recognized under the Roche Agreement consisted of the following:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Roche Development Services Obligation
$40,233 $16,690 74,639 32,530 
Other
1,655 1,577 2,890 2,793 
Total
$41,888 $18,267 $77,529 $35,323 
Net revenues from collaborations recognized under the Regeneron Collaboration consisted of the following:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2026202520262025
Research Services Obligation
$(802)$12,957 $5,831 $26,767 
C5 License Obligation
— — — 21,458 
Regeneron Technology Transfer Obligation
— — — 2,431 
Other license programs
5,822 19,585 45,525 32,925 
Total
$5,020 $32,542 $51,356 $83,581 
Schedule of Deferred Revenue
The following table presents the balance of our receivables and contract liabilities related to our collaboration agreements:
(In thousands)As of June 30, 2026As of December 31, 2025
Receivables included in accounts receivable, net
$58,664 $48,823 
Contract liabilities included in deferred revenue$4,014 $4,845 
Schedule of Allocated Transaction Price Based on Accounting Guidance
The following table provides a summary of the transaction price allocated to each performance obligation:
(In thousands)
As of June 30, 2026
Roche License Obligation
$675,000 
Roche Development Services Obligation
1,061,167 
Roche Technology Transfer Obligation
2,000 
$1,738,167