Collaboration Agreement

9 Months Ended

Sep. 30, 2023

Revenue Recognition and Deferred Revenue [Abstract]

Collaboration Agreement

9.Collaboration Agreement

The following table shows the activity for the Company’s collaboration revenue agreement and deferred revenue (in thousands):

	September 30,
	2023			2022
	(in thousands)
Balance as of beginning of period	$	442		$	—
Decrease for provision of research services		(442	)		—
Balance as of end of period	$	—		$	—

Merck

In connection with the Merger, the Company became the successor in interest to the Merck Neuromuscular License Agreement with Merck to support research, development and commercialization of products for treatment of neuromuscular diseases, including amyotrophic lateral sclerosis (“ALS”). As of December 31, 2022, the Company had $442,000 in deferred revenue under the Merck Neuromuscular License Agreement. The Company recognized zero in revenue for the three months ended September 30, 2023 and $442,000 for the nine months ended September 30, 2023. The Company recognized revenue of zero for the three and nine months ended September 30, 2022. As of September 30, 2023, the Company had zero in deferred revenue under the Merck Neuromuscular License Agreement.