v3.26.1
Revenue
 6 Months Ended
Jun. 30, 2026
Revenues [Abstract]  
Revenue

3. Revenue

Revenue from collaboration agreements for the three and six months ended June 30, 2026 related to the research collaboration agreement the Group entered into with AstraZeneca in March 2020.

There was no revenue for the three months ended June 30, 2026 (three months ended June 30, 2025: $0.2 million).

Revenue for the six months ended June 30, 2026 was $0.4 million (six months ended June 30, 2025: $0.4 million).

Disaggregation of revenue from contracts with customers is as follows:

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

$000s

 

 

$000s

 

 

$000s

 

 

$000s

 

Revenue from Contracts with Customers

 

 

 

 

 

 

 

 

 

 

 

 

Research collaboration - AstraZeneca

 

 

—

 

 

 

224

 

 

 

422

 

 

 

366

 

Total revenue from contracts with customers

 

 

—

 

 

 

224

 

 

 

422

 

 

 

366

 

 

Under its collaboration agreement with AstraZeneca, the Group received an upfront cash payment of $20.0 million in 2020 with a further payment of $40 million received in May 2021. The Group is also eligible to receive specified development and commercial milestone payments as well as tiered royalties on net sales, if any. The Group recognizes the upfront payment and milestone payments over time, in accordance with ASC 606. During the six months ended June 30, 2026, the Group achieved no milestone payments from the collaboration agreement with AstraZeneca (six months ended June 30, 2025: nil). During the six months ended June 30, 2026, the Group recognized a total of $0.4 million in revenue under its collaboration agreement with AstraZeneca (six months ended June 30, 2025: $0.4 million).