Collaboration and License Agreements and Supply Agreements (Tables)

3 Months Ended

Mar. 31, 2024

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Summary of Recognized Revenue

In accordance with the collaboration, license and supply agreements, the Company recognized revenue as follows:


		Three Months Ended
		March 31,
		2024				2023
		(in thousands)
Merck Sharp & Dohme Corporation (“Merck”)		$	6			$	2,553
Astellas Pharma Inc. (“Astellas”)			11,385				6,272
Tasly Biopharmaceuticals Co., Ltd. (“Tasly”)			970				-
Vaxcyte, Inc. ("Vaxcyte")			647				675
Bristol Myers Squibb Company (“BMS”)			-				3,166
Merck KGaA, Darmstadt, Germany (operating in the United States and Canada under the name “EMD Serono”)			-				8
Total revenue		$	13,008			$	12,674

Summary of Deferred Revenue Balance

The following table presents the changes in the Company’s deferred revenue balance from the agreements during the three months ended March 31, 2024:


		Three Months Ended
		March 31, 2024
		(in thousands)
Deferred revenue—December 31, 2023		$	74,045
Additions to deferred revenue			-
Recognition of revenue in current period			(7,230	)
Deferred revenue—March 31, 2024		$	66,815

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Summary of Recognized Revenue

Revenues under the Vaxcyte agreements were as follows:


		Three Months Ended
		March 31,
		2024				2023
		(in thousands)
Research and development services		$	647			$	504
Materials supply			-				171
Total revenue		$	647			$	675

2020 Merck Master Services Agreement

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Summary of Recognized Revenue

Revenues under the 2018 Merck Agreement and the 2020 Merck Master Services Agreement were as follows:


		Three Months Ended
		March 31,
		2024				2023
		(in thousands)
Research and development services		$	6			$	125
Materials supply			-				2,428
Total revenue		$	6			$	2,553

Astellas License and Collaboration Agreement

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Summary of Recognized Revenue

Revenues under the Astellas Agreement were as follows:


		Three Months Ended
		March 31,
		2024				2023
		(in thousands)
Ongoing performance related to unsatisfied performance obligations		$	7,230			$	2,572
Research and development services			1,623				1,157
Financing component on unearned revenue			2,160				2,543
Materials supply			372				-
Total revenue		$	11,385			$	6,272

Tasly License Agreement

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Summary of Recognized Revenue

Revenues under the Tasly agreements were as follows:


		Three Months Ended
		March 31,
		2024				2023
		(in thousands)
Research and development services		$	33			$	–
Materials supply			937				–
Total revenue		$	970			$	–