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FORMER COLLABORATION AGREEMENT | 6 Months Ended
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Jun. 30, 2020
Former Collaborative Arrangement Disclosure [Abstract] |
FORMER COLLABORATION AGREEMENT | 3. FORMER COLLABORATION AGREEMENT On November 13, 2014, we and Janssen Biotech, Inc., or Janssen, entered into the Collaboration Agreement under which we granted to Janssen exclusive worldwide rights to develop and commercialize imetelstat for all human therapeutic uses, including hematologic myeloid malignancies. Janssen terminated the Collaboration Agreement effective September 28, 2018, upon which we regained the global rights to the imetelstat program and are continuing development of imetelstat on our own. As a result of the termination of the Collaboration Agreement, we will not receive any milestone payments or royalties from Janssen for the development or commercialization of imetelstat, including any clinical development or sales milestones, and Janssen has no obligations to us or any third parties, such as clinical sites or vendors, to fund any potential future imetelstat clinical trials. Under the termination provisions of the Collaboration Agreement, during transition of the program to us, Janssen was required to provide certain operational support for the imetelstat program through September 28, 2019. Operational support from Janssen included clinical development activities, such as continuing monitoring and treatment of patients in ongoing imetelstat clinical trials. We reimbursed Janssen 100% for the costs of such operational support. As of September 30, 2019, the transition of the imetelstat program to us from Janssen has been completed. As of June 30, 2020, no amounts were due to Janssen for operational support of the imetelstat program. On June 14, 2019, we entered into a Clinical Supply Agreement, or Supply Agreement, with Janssen to purchase certain inventories of drug product, drug substance and raw materials for imetelstat manufacturing. As of December 31, 2019, activities under the Supply Agreement were fully complete, resulting in an aggregate amount due to Janssen of $14,269,000, which we paid in full in the first quarter of 2020. No amounts remain due to Janssen under the Supply Agreement as of June 30, 2020.

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- Definition Former collaborative arrangement disclosure. + References No definition available. + Details
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- Definition The entire disclosure for former collaborative arrangements in which the entity is a participant, including a) information about the nature and purpose of such arrangements; b) its rights and obligations thereunder; c) the accounting policy for such arrangements; and d) the income statement classification and amounts attributable to transactions arising from the former collaborative arrangement between participants. + References No definition available. + Details
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