v3.26.1
Revenue and Cost of Revenue
6 Months Ended
Jun. 30, 2026
Revenue Recognition and Deferred Revenue [Abstract]  
Revenue and Cost of Revenue

12. Revenue and cost of revenue

ReproNovo Partnership

In December 2023, the Company and ReproNovo SA. (“ReproNovo”) entered into a global licensing agreement for the development and commercialization of leflutrozole (the “ReproNovo Licensing Agreement”). Under the terms of the ReproNovo Licensing Agreement, ReproNovo received an exclusive worldwide license to develop and commercialize leflutrozole.

No revenue or cost of revenue was recognized during the three and six months ended June 30, 2026 in respect of this agreement. However, during the three and six months ended June 30, 2025, the Company recognized a milestone payment receivable of $0.5 million as revenue under the terms of the ReproNovo Licensing Agreement following confirmation by ReproNovo that the first participant had been included in a Phase 2 trial of leflutrozole. As a consequence, and in accordance with the terms of the 2015 asset purchase agreement with Novartis, the Company also accrued for a payment to Novartis of $0.1 million as cost of revenue.