v3.26.1
Collaboration and Licensing Agreements (Tables)
 6 Months Ended
Jun. 30, 2026
Collaboration and Licensing Agreements  
Schedule of Revenue by Licensees
The following table provides a summary of revenue recognized:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(in thousands)
Alexion$37,318 $16,825 $38,798 $32,294 
Incyte3,903 26,774 6,839 42,037 
Vir Bio— 9 — 2,009 
Zenas10,000 — 10,000 — 
Other (2)
— — 100 — 
Total (1)
$51,221 $43,608 $55,737 $76,340 
(1) As of June 30, 2026, there was no deferred revenue related to the agreements the Company entered into with the parties listed above.
(2) On February 26, 2026, the Company entered into a Fourth Amendment to its License Agreement with INmune Bio, Inc. (“INmune”), under which INmune agreed to pay a one-time, non-refundable, non-creditable fee of $0.1 million for an extension of its diligence obligations. The Company received the fee in the first quarter of 2026.
Schedule of Disaggregation of Revenue
The following table presents a disaggregation of revenue recognized during the periods indicated:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(in thousands)
License$— $— $100 $— 
Milestone10,000 25,000 10,000 39,500 
Royalties41,221 18,608 45,637 36,840 
Total$51,221 $43,608 $55,737 $76,340 
Schedule of Receivables and Contract Liabilities
The following table summarizes the balance of receivables and contract liabilities related to the Company’s collaboration and license agreements:
June 30,
20262025
(in thousands)
Receivables included in accounts receivable
$42,234 $45,362 
Contract liabilities included in deferred revenue
$— $—