v3.26.1
Collaboration Agreements
6 Months Ended
Jun. 30, 2026
Collaboration Agreements [Abstract]  
Collaboration Agreements

Note 8. Collaboration Agreements

Novartis Pharma AG Collaboration Agreement

On December 16, 2024, the Company entered into a collaboration agreement with Novartis Pharma AG ("Novartis") to identify and validate novel therapeutic drug targets by investigating the biological mechanisms that drive diseases related to aging and mediate the beneficial effects of physical exercise (the "Novartis Agreement").

Under the terms of the Novartis Agreement, the Company is obligated to perform additional analyses on the Company's longitudinal human aging cohort datasets, to expand data included in the Company's discovery platform, and perform other activities to

enable the identification and validation of novel therapeutic drug targets. The Company has determined these activities represent a single performance obligation.

In consideration for the rights granted under the Novartis Agreement, the Company has received and may receive upfront payments and research funding of up to $20.0 million, and up to $530.0 million in future long-term research, development, and commercial milestones. The Company and Novartis each have the right to advance novel targets discovered under the Novartis Agreement and are each eligible to receive reciprocal success milestones and receive tiered royalties on net sales of licensed products.

Collaboration revenue of $2.4 million was recognized under the Novartis Agreement for each of the three months ended June 30, 2026 and 2025, and $5.2 million and $3.9 million in the six months ended June 30, 2026 and 2025, respectively. During the six months ended June 30, 2026, the Company recorded $1.4 million in revenue that was included in deferred revenue as of December 31, 2025 and $3.8 million in revenue related to research funding for reimbursable costs incurred during the six months ended June 30, 2026. Deferred revenue related to the Novartis Agreement amounted to $4.4 million and $5.8 million as of June 30, 2026, and December 31, 2025, respectively, all of which was included in current liabilities within the condensed consolidated balance sheets.