v3.26.1
Collaboration and License Agreements
6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Collaboration and License Agreements Collaboration and License Agreements
Vertex Agreement

The Company and Vertex closed their Strategic Collaboration and License Agreement in February 2023, as amended in October 2023 (the "Vertex Agreement"), pursuant to which the Company granted Vertex an exclusive worldwide license to research, develop, manufacture and commercialize VX-670, the Company's intracellular EEV-based therapeutic candidate for the treatment of myotonic dystrophy type 1 ("DM1"), as well as any additional EEV-based therapeutic candidates that may be identified by the Company for the potential treatment of DM1 in the course of the parties' global research collaboration.

The Vertex Agreement provides for a four-year global research collaboration under which Entrada will continue to perform preclinical development of the Company's partnered candidate VX-670, as well as work on additional EEV-
based therapeutic candidates for the potential treatment of DM1 (the "Research Plan"). Vertex is obligated to reimburse the Company's research expenses incurred in performing activities under the Research Plan.

The Company determined that the Vertex Agreement contains two performance obligations: (1) the combination of the exclusive license and the performance of the research activities for VX-670 ("Performance Obligation One") and (2) research activities performed on additional EEV-based therapeutic candidates for the potential treatment of DM1 ("Performance Obligation Two"). As of June 30, 2026, Performance Obligation One is complete and the Company continues to perform research activities for Performance Obligation Two.

During the three months ended June 30, 2026, the Company recognized $0.9 million in revenue under the Vertex Agreement, including $0.8 million of cost reimbursements and $0.1 million from amounts that were recorded in deferred revenue as of December 31, 2025. During the six months ended June 30, 2026, the Company recognized $1.8 million in revenue under the Vertex Agreement, including $1.6 million of cost reimbursements and $0.2 million from amounts that were recorded in deferred revenue as of December 31, 2025.

During the three months ended June 30, 2025, the Company recognized $2.0 million of revenue under the Vertex Agreement, including $1.2 million of cost reimbursements and $0.8 million from amounts recorded in deferred revenue as of December 31, 2024. During the six months ended June 30, 2025, the Company recognized $22.5 million of revenue under the Vertex Agreement, including $2.8 million of cost reimbursements and $19.7 million from amounts recorded in deferred revenue as of December 31, 2024.

The aggregate amount of the transaction price allocated to the Company's unsatisfied performance obligation recorded in deferred revenue at June 30, 2026 is $0.2 million. The Company will recognize the deferred revenue related to the research and development services based on a cost input method, over the remaining term of the Research Plan.