Revenue Recognition

9 Months Ended

Sep. 30, 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 nine months ended September 30, 2018:



	Balance at January 1, 2018		Additions		Deductions			Balance at September 30, 2018
Contract assets
Accounts receivable from MedImmune	$	1,693,530	$	3,865,641	$	(3,206,848	)	$	2,352,323
Contract liabilities
Deferred revenue - MedImmune	1,145,500		732,200		(1,582,167		)	295,533
Deferred revenue - ApolloBio	—		23,000,000		(23,000,000		)	—
Deferred revenue - Other	$	271,894	$	93,750	$	(208,291	)	$	157,353

During the three and nine months ended September 30, 2018, the Company recognized total revenue under collaborative research and development and other agreements of $0 and $23.0 million, respectively, from ApolloBio; $1.8 million and $4.5 million, respectively, from MedImmune; $155,000 and $305,000, respectively, from its affiliated entity GeneOne Life Science Inc. ("GeneOne"); and $33,000 and $186,000, respectively, from various other contracts. Of the total revenue recognized during the three and nine months ended September 30, 2018, $316,000 and $1.3 million, respectively, was in deferred revenue as of December 31, 2017. All revenues recognized during the three and nine months ended September 30, 2018 are attributed to the United States.