Related Party Transactions |
6 Months Ended |
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Jun. 30, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions Blackstone Agreements In November 2021, the Company concurrently entered into the Blackstone Agreements. As of the execution of the Blackstone Agreements, Blackstone became a related party of the Company, as Blackstone became the owner of more than 10% of the Company’s outstanding voting securities. In addition, Blackstone received and exercised its right to nominate one director to the board of directors of the Company and is therefore considered to be one of the principal owners of the Company. As of June 30, 2026, Blackstone holds more than 5% of the Company’s outstanding voting securities. As of June 30, 2026, the carrying amount of the Blackstone Collaboration Agreement Liability was $240.9 million. For the six months ended June 30, 2026, the aggregated cumulative accrued interest expense and cumulative catch-up adjustment amounted to $6.9 million and the revenue share payments amounted to $2.7 million. As of December 31, 2025, the carrying amount of the Blackstone Collaboration Agreement Liability was $236.7 million which included aggregated cumulative accrued interest expense and cumulative catch-up adjustment of $27.9 million. Refer to Note 15, “Liabilities related to future royalties and milestones, net” for further details. BioNTech Agreements In February 2024, the Company concurrently entered into the BioNTech Agreements. Upon the execution of the BioNTech Agreements, BioNTech became a related party of the Company. BioNTech owns more than 10% of the Company’s outstanding voting securities and is therefore one of the principal owners of the Company. In addition, BioNTech has the right to nominate one director to the board of directors of the Company, which BioNTech has not yet exercised. As of June 30, 2026, the carrying amount of the BioNTech Liability was $43.4 million. For the six months ended June 30, 2026, the aggregated cumulative accrued interest expense and cumulative catch-up adjustment amounted to $1.4 million and the revenue share payments amounted to $1.5 million. As of December 31, 2025, the carrying amount of the BioNTech Liability was $43.5 million which included aggregated cumulative accrued interest expense and cumulative catch-up adjustment of $8.5 million. Refer to Note 15, “Liabilities related to future royalties and milestones, net” for further details.
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