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v3.20.2

Significant Agreements (Tables) | 6 Months Ended
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Jun. 30, 2020
Significant agreements. |
Summary of revenue recognized from collaboration arrangements | The following table summarizes the revenue recognized in the Company’s condensed consolidated statements of operations and comprehensive loss from the Company’s collaboration agreements (in thousands):
|  | Three Months |  | Six Months
|  | Ended |  | Ended
|  | June 30, |  | June 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Collaboration revenues |  |  |  |  |  |  |  |  |  |  |  |
AstraZeneca |  | $ | 319 |  | $ | 362 |  | $ | 731 |  | $ | 787
Sanofi |  |  | — |  |  | 57 |  |  | — |  |  | 6,016
Dementia Discovery Fund |  |  | 56 |  |  | 103 |  |  | 112 |  |  | 103
Material transfer agreement |  |  | — |  |  | 1,000 |  |  | — |  |  | 1,000
Genentech |  |  | 1,196 |  |  | — |  |  | 1,857 |  |  | —
Total collaboration revenues |  | $ | 1,571 |  | $ | 1,522 |  | $ | 2,700 |  | $ | 7,906
Summary of changes in the balances of the Company’s contract assets and liabilities | The following table presents changes in the balances of the Company’s contract assets and liabilities (in thousands):
|  | Balance at |  |  |  |  |  | Impact of |  | Balance at
|  | Beginning of |  |  |  |  |  | Exchange |  | End of
|  | Period |  | Additions |  | Deductions |  | Rates |  | Period
Period ended June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contract assets |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Contract liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AstraZeneca collaboration deferred revenue |  |  | 4,913 |  |  | 271 |  |  | (33) |  |  | (344) |  |  | 4,807
DDF collaboration deferred revenue |  |  | 744 |  |  | — |  |  | (112) |  |  | (50) |  |  | 582
Genentech collaboration deferred revenue |  |  | — |  |  | 31,000 |  |  | (1,857) |  |  | (1,450) |  |  | 27,693
Total deferred revenue |  | $ | 5,657 |  | $ | 31,271 |  | $ | (2,002) |  | $ | (1,844) |  | $ | 33,082
|  | Balance at |  |  |  |  |  | Impact of |  | Balance at
|  | Beginning of |  |  |  |  |  | Exchange |  | End of
|  | Period |  | Additions |  | Deductions |  | Rates |  | Period
Period ended December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contract assets |  | $ | — |  | $ | 149 |  | $ | (149) |  | $ | — |  | $ | —
Contract liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
AstraZeneca collaboration deferred revenue |  |  | 4,727 |  |  | 58 |  |  | (35) |  |  | 163 |  |  | 4,913
Sanofi collaboration deferred revenue |  |  | 9,908 |  |  | — |  |  | (9,984) |  |  | 76 |  |  | —
DDF collaboration deferred revenue |  |  | — |  |  | 1,114 |  |  | (394) |  |  | 24 |  |  | 744
Total deferred revenue |  | $ | 14,635 |  | $ | 1,172 |  | $ | (10,413) |  | $ | 263 |  | $ | 5,657
Summary of recognition of revenues as a result of changes in contract asset and contract liability balances | During the three and six months ended June 30, 2020 and 2019, the Company recognized the following revenues as a result of changes in the contract asset and the contract liability balances in the respective periods (in thousands):
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Revenue recognized in the period from: |  |  |  |  |  |  |  |  |  |  |  |
Revenue recognized based on proportional performance |  | $ | (1,251) |  | $ | (113) |  | $ | (2,002) |  | $ | (138)
Revenue recognized based on expiration of material rights |  |  | — |  |  | — |  |  | — |  |  | (5,286)
Total |  | $ | (1,251) |  | $ | (113) |  | $ | (2,002) |  | $ | (5,424)
AstraZeneca |
Significant agreements. |
Summary of allocation of transaction price to separate performance obligations | Based on the relative standalone selling price, the allocation of the transaction price to the separate performance obligations at the inception of the arrangement is as follows (in thousands):
|  | Allocation of
Performance Obligations |  | Transaction Price
Target Three Research License and Related Services |  | $ | 650
Target 3 Material Right |  |  | 1,504
Target 4 Material Right |  |  | 1,204
Target 5 Material Right |  |  | 1,165
Target 6 Material Right |  |  | 1,127
|  | $ | 5,650
Sanofi |
Significant agreements. |
Summary of allocation of transaction price to separate performance obligations | Based on the relative standalone selling price, the allocation of the transaction price to the separate performance obligations at the inception of the arrangement is as follows (in thousands):
|  | Allocation of
Performance Obligations |  | Transaction Price
Sickle Cell Research License and Related Services |  | $ | 1,405
Hemophilia Research License and Related Services |  |  | 2,811
Sickle Cell License Option Material Right |  |  | 5,286
Hemophilia License Option Material Right |  |  | 4,698
|  | $ | 14,200
Genetech |
Significant agreements. |
Summary of allocation of transaction price to separate performance obligations | Based on the relative standalone selling price, the allocation of the transaction price to the separate performance obligations is as follows (in thousands):
|  | Allocation of
Performance Obligations |  | Transaction Price
Genentech Collaboration Program #1 Performance Obligation |  | $ | 3,775
Genentech Collaboration Program #2 Performance Obligation |  |  | 7,550
Specified Targeting Arm Material Right Arm for Genentech Collaboration Program #1 |  |  | 330
Two material rights associated with the LSR Go Option for Collaboration Programs #1 and #2 |  |  | 11,650
Material rights associated with limited substitution rights |  |  | 1,115
Two material rights for Expansion Options |  |  | 6,580
|  | $ | 31,000

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