Related Party Transactions

9 Months Ended

Sep. 30, 2017

7.	Related Party Transactions

Astellas is an equity investor in the Company and considered a related party. The Company recorded revenue related to collaboration agreements with Astellas of $4.6 million and $4.8 million during the three months ended September 30, 2017 and 2016, respectively, and $12.9 million and $21.8 million during the nine months ended September 30, 2017 and 2016, respectively.

The Company recorded expense related to collaboration agreements with Astellas of $0.2 million and $1.8 million during the three months ended September 30, 2017 and 2016, respectively, and $0.8 million and $4.8 million during the nine months ended September 30, 2017 and 2016, respectively.

As of September 30, 2017 and December 31, 2016, accounts receivable from Astellas were $4.6 million and $4.1 million, respectively, and amounts due to Astellas were $0.5 million and $1.6 million, respectively.

Julian N. Stern, a director of the Company from November 1996 through June 2017, is currently serving as corporate secretary of the Company and is of counsel to the law firm of Goodwin Procter LLP, which he joined in 2008. He has received, and continues to receive, no compensation from Goodwin Procter LLP since joining as counsel. The Company retains Goodwin Procter LLP as legal counsel for various matters, primarily consisting of intellectual property matters. There was no payment to Goodwin Procter LLP during the three and nine months ended September 30, 2017. The Company’s payments to Goodwin Procter LLP during the three and nine months ended September 30, 2016 were immaterial. As of September 30, 2017 and December 31, 2016, the balance of the accrued liability for Goodwin Proctor LLP was zero.