The Company has entered into multiple collaborations, out-licenses and strategic alliances with third parties that typically involve payments to or from the Company, including upfront payments, payments for research and development services, option payments, milestone payments and royalty payments to or from the Company. The terms and conditions as

As of June 30, 2026, the Company’s contract liabilities were primarily related to the Company’s collaboration with BMS. The following table presents changes in the Company’s accounts receivable and contract liabilities for the six months ended (in thousands):

In March 2024, the Company entered into an amendment (“2024 Amendment”) to the Second Amended and Restated Collaboration and License Agreement, dated as of November 11, 2019, by and between the Company and BMS, through its wholly owned subsidiary Juno Therapeutics, to extend the collaboration to November 2026, with options to extend the collaboration for up to an additional two years, and to provide BMS the ability to select up to three new gene targets for research. As of June 30, 2026, the options to extend the collaboration have expired.

As of June 30, 2026, there was $32.3 million of short-term deferred revenue and no long-term deferred revenue in the accompanying condensed consolidated balance sheets. As of December 31, 2025, there was $44.5 million of long-term deferred revenue in the accompanying condensed consolidated balance sheets. The Company recognized $8.2 million of revenue related to the expiration of certain material rights to opt-in to additional research programs under its collaboration with BMS during the three and six months ended June 30, 2026. This amount was included in deferred revenue at the beginning of the period. During the three and six months ended June 30, 2025, the Company did not recognize any revenue related to its collaboration with BMS.

In addition to the collaboration agreements discussed above, the Company has various other collaboration agreements that are not individually significant to its operating results or financial condition at this time. Pursuant to the terms of those agreements, the Company may be required to pay, or it may receive, additional payments contingent upon the occurrence of future events (e.g., upon the achievement of various development and commercial milestones), which in the aggregate could be significant. The Company may also incur, or be reimbursed for, significant research and development costs pursuant to these collaboration agreements. In addition, if any future products related to these collaborations are approved for sale, the Company may be required to pay, or it may receive, royalties on future sales of those products. The payment or receipt of these amounts, however, is contingent upon the occurrence of future events. Due to the uncertainty of clinical development and the high historical failure rates generally associated with drug development and commercialization, it is possible the Company may not receive any such payments under any or all of its existing collaboration and license agreements, including the agreements described within this note.