Revenue Recognition

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

On January 1, 2018, the Company adopted Topic 606 using the modified retrospective method. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with the Company’s historical accounting under Topic 605.

For additional details about Topic 606, refer to Note 3 above.

The following table summarizes changes in the Company’s contract assets and liabilities for the three months ended March 31, 2018:



	Balance at January 1, 2018		Additions		Deductions			Balance at March 31, 2018
Contract assets
Accounts receivable from MedImmune	$	1,693,530	$	1,339,961	$	(3,750	)	$	3,029,741
Contract liabilities
Deferred revenue - MedImmune	1,145,500		582,500		(531,583		)	1,196,417
Deferred revenue - ApolloBio	—		23,000,000		—			23,000,000
Deferred revenue - Other	$	271,894	$	—	$	(120,534	)	$	151,360

During the three months ended March 31, 2018, the Company recognized total revenue under collaborative research and development and other agreements of $1.3 million from Medimmune, $118,000 from its affiliated entity GeneOne Life Science Inc. ("GeneOne") and $123,000 from various other contracts. Of the total revenue recognized during the three months ended March 31, 2018, $652,000 was in deferred revenue as of December 31, 2017. All revenues recognized during the three months ended March 31, 2018 are attributed to the United States.