v3.26.1
Significant Agreements and Contracts (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Contract Liability Activity
The following table presents a summary of the activity in the Company's contract liabilities related to the Chiesi Collaboration Agreement (recorded as contract liabilities on the balance sheet) during the six months ended June 30, 2026 and 2025 (in thousands):
20262025
Balance, January 1$49,593 $55,919 
Revenue from PAH research and development service performance obligations satisfied during reporting period(9,680)(6,144)
Revenue from PH-ILD research and development service performance obligations satisfied during reporting period(1,089)(1,133)
     Effect of exchange rate changes on contract liabilities(1,601)6,325 
Balance, June 30$37,223 $54,967 
Schedule of Contract Revenues Disaggregated by Timing of Revenue Recognition and Excludes Royalty Revenue
The following table presents the Company's contract revenues from the Chiesi Collaboration Agreement disaggregated by timing of revenue recognition and excluding royalty revenue (in thousands):
Three months ended June 30,Six months ended June 30,
2026202520262025
Revenue from Chiesi Collaboration Agreement:
Over Time:
Revenue from PAH research and development service performance obligation satisfied during reporting period$2,623 $3,356 $9,680 $6,145 
Revenue from PH-ILD research and development service performance obligation satisfied during reporting period486 586 1,089 1,133 
Revenue from PAH research and development costs subject to reimbursement3,595 3,186 6,053 7,598 
Revenue from PH-ILD research and development costs subject to reimbursement1,763 2,791 6,584 4,222 
Revenue from PAH commercial costs subject to reimbursement747 1,371 2,720 2,048 
Revenue from PH-ILD commercial costs subject to reimbursement— 231 — 295 
Effect of exchange rate changes on revenue24 (32)67 (63)
Total revenue from Chiesi Collaboration Agreement$9,238 $11,489 $26,193 $21,378