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Other Balance Sheet Components (Tables) | 12 Months Ended
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Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets, as of December 31, 2020 and 2019 consists of the following (in thousands):
|  | December 31,
|  | 2020 |  | 2019
Down payments to manufacturing vendors |  | $ | 216,538 |  |  | $ | — |
Prepaid expenses |  | 15,647 |  |  | 8,475 |
Tenant incentives receivables |  | 10,242 |  |  | 4,093 |
Interest receivable on marketable securities |  | 9,725 |  |  | 6,835 |
Prepaid expenses and other current assets |  | $ | 252,152 |  |  | $ | 19,403 |
Schedule of Accrued Liabilities | Accrued liabilities, as of December 31, 2020 and 2019 consists of the following (in thousands):
|  | December 31,
|  | 2020 |  | 2019
Clinical trials |  | $ | 97,249 |  |  | $ | 6,291 |
Compensation-related |  | 95,247 |  |  | 27,428 |
Raw materials |  | 78,085 |  |  | — |
Manufacturing |  | 53,412 |  |  | 5,872 |
Development operations |  | 29,253 |  |  | 2,567 |
Property and equipment |  | 17,576 |  |  | 4,029 |
Commercial |  | 6,922 |  |  | — |
Other external goods and services |  | 91,847 |  |  | 21,465 |
Accrued liabilities |  | $ | 469,591 |  |  | $ | 67,652 |
Other Current Liabilities | Other current liabilities, as of December 31, 2020 and 2019 consists of the following (in thousands):
|  | December 31,
|  | 2020 |  | 2019
Lease liabilities - financing |  | $ | 24,328 |  |  | $ | — |
Lease liabilities - operating |  | 5,972 |  |  | 3,583 |
Other |  | 3,365 |  |  | 1,480 |
Other current liabilities |  | $ | 33,665 |  |  | $ | 5,063 |
Schedule of Deferred Revenue | The following table presents changes in the balances of our receivables and contract liabilities related to our strategic collaboration agreements during the year ended December 31, 2020 (in thousands):
|  | December 31, 2019 |  | Additions |  | Deductions |  | December 31, 2020
Contract Assets: |  |  |  |  |  |  |  |
Accounts receivable |  | $ | 1,972 |  |  | $ | 120,821 |  |  | $ | (117,249) |  |  | $ | 5,544 |
Contract Liabilities: |  |  |  |  |  |  |  |
Deferred revenue |  | $ | 199,528 |  |  | $ | 121,882 |  |  | $ | (81,228) |  |  | $ | 240,182 |
During the year ended December 31, 2020, we recognized the following revenue as a result of the change in the contract liability balances related to our collaboration agreements (in thousands):
Revenue recognized in the period from: |  |  | Year Ended December 31, 2020
Amounts included in contract liabilities at the beginning of the period (1) |  |  | $ | 72,863 |
Performance obligations satisfied (or partially satisfied) in previous reporting periods (2) |  |  | 8,366 |
______________ (1) We first allocate revenue to the individual contract liability balance outstanding at the beginning of the period until the revenue exceeds that balance. If additional consideration is received on those contracts in subsequent periods, we assume all revenue recognized in the reporting period first applies to the beginning contract liability. (2) Related to changes in estimated costs for our future performance obligations and estimated variable considerations. The following table summarizes the balances of deferred revenue at period end, which is classified as current or non-current in the consolidated balance sheets based on the period the services are expected to be performed or control of the supply is expected to be transferred (in thousands):
|  | December 31,
|  | 2020 |  | 2019
Combined AZ Agreements |  | $ | 57,192 |  |  | $ | 73,669 |
The following table summarizes the revenue recognized for the periods presented (in thousands):
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
2016 VEGF Exercise |  | $ | 14,253 |  |  | $ | 583 |  |  | $ | — |
The following table summarizes the balances of deferred revenue at period end, which is classified as current or non-current in the consolidated balance sheets based on the period the services are expected to be performed or control of the supply is expected to be transferred (in thousands):
|  | December 31,
|  | 2020 |  | 2019
2016 VEGF Exercise |  | $ | 29,335 |  |  | $ | 41,266 |
The following table summarizes the revenue recognized for the periods presented (in thousands):
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
PCV/SAV Agreement |  | $ | 33,103 |  |  | $ | 41,382 |  |  | $ | 41,498 |
The following table summarizes the balances of deferred revenue, which is classified as current or non-current in the condensed consolidated balance sheets based on the period the services are expected to be performed or control of the supply is expected to be transferred for the periods presented (in thousands):
|  | December 31
|  | 2020 |  | 2019
PCV/SAV Agreement |  | $ | 51,007 |  |  | $ | 83,799 |
The following table summarizes the revenue recognized for the periods presented (in thousands):
|  | Years Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Vertex First Extended Research Term |  | $ | 13,452 |  |  | $ | — |  |  | $ | — |
Vertex Agreement/2019 Amendment |  | 2,053 |  |  | 6,197 |  |  | 10,400 |
Total |  | $ | 15,505 |  |  | $ | 6,197 |  |  | $ | 10,400 |
The following table summarizes the balances of deferred revenue, classified as current and non-current in the condensed consolidated balance sheets based on the term of the research period for the periods presented (in thousands):
|  | December 31,
|  | 2020 |  | 2019
Vertex Agreement (1) |  | $ | 2,648 |  |  | $ | 793 |
____________ (1) Balance as of December 31, 2019 represents deferred revenue related to the Vertex 2019 Amendment The following table summarizes the activities in deferred revenue during the year ended December 31, 2020 (in thousands):
|  | December 31, 2019 |  | Additions |  | Deductions |  | December 31, 2020
Product sales |  | $ | — |  |  | $ | 3,881,303 |  |  | $ | (82,134) |  |  | $ | 3,799,169 |
Grant revenue |  | 2,777 |  |  | 6,775 |  |  | (4,291) |  |  | 5,261 |
Collaboration revenue |  | 199,528 |  |  | 121,882 |  |  | (81,228) |  |  | 240,182 |
Total deferred liabilities |  | $ | 202,305 |  |  | $ | 4,009,960 |  |  | $ | (167,653) |  |  | $ | 4,044,612 |

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