Moderna Collaboration and License Agreement (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2025

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Estimated Revenue Expected to be Recognized in The Future Related to Performance Obligations


	Transaction
	price unsatisfied
Performance obligations:
Option rights	$	41,250

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied as of December 31, 2024 (in thousands):


	Transaction
	price unsatisfied
Performance obligations:
Research and development	$	35,301
Option rights		41,250
Total performance obligations	$	76,551

Schedule of Changes in Deferred Revenue

The following table summarizes the changes in deferred revenue (in thousands):


	Six Months Ended June 30,
	2025		2024
Balance at the beginning of the period	$	44,979	$	46,413
Deferral of revenue		—		6,090
Recognition of deferred revenue		(3,729)		(10,594)
Balance at the end of the period	$	41,250	$	41,909

The following table summarizes the changes in deferred revenue (in thousands):


	Years Ended December 31,
	2024		2023
Balance at the beginning of the period	$	46,413	$	47,459
Deferral of revenue		16,198		13,873
Recognition of unearned revenue		(17,632)		(14,919)
Balance at the end of the period	$	44,979	$	46,413