Related-Party Transactions

3 Months Ended

Mar. 31, 2023

Related-Party Transactions

Related-Party Transactions

(9) Related-Party Transactions

The Company has outstanding licensing and scientific research agreements with Penn, a significant shareholder (Note 5). The Company recognized $0.4 million and $0.2 million of research and development expense for the three months ended March 31, 2023 and 2022, respectively, related to the Penn License Agreement.

The Company’s collaboration and license agreement is with Moderna, a significant shareholder (Note 10). The Company recognized revenue of $3.2 million and $0.8 million for the three months ended March 31, 2023 and 2022, respectively, related to the Moderna License Agreement.