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MAJOR CUSTOMERS, PARTNERSHIPS AND STRATEGIC ALLIANCES - (Tables)
6 Months Ended
Jun. 30, 2020
Biogen MA, Inc.  
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]  
Revenues Recognized under Agreement
Revenues recognized under the agreement for the three and six months ended June 30, 2020 and 2019 were as follows (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2020201920202019
Revenue related to Biogen agreement:
Recognition of license and stand-ready fee$6,744  $—  $6,744  $—  
Research services1,434  —  1,434  —  
Total$8,178  $—  $8,178  $—  
The Company paid $7.0 million for financial advisory fees during the quarter ended June 30, 2020, equal to 2% of $225.0 million received for the sale of shares and 2% of $125.0 million received for the upfront fee. The fees incurred related to both the collaboration agreement with Biogen and to the stock purchase agreement for the sale of shares. The Company believes that the allocation of fees on a relative fair value basis between the two agreements is reasonable. The Company recognized $4.1 million, which represents 2% of the upfront license fee of $125.0 million and 2% of the excess consideration from the stock purchase of $79.6 million, as a contract asset. This balance will be amortized and included in general and administrative costs on a systematic basis consistent with the transfer of the services to Biogen in accordance with ASC Topic 340, Other Assets and
Deferred Costs. The Company recognized $2.9 million, which represents 2% of the $145.4 million estimated fair value of the equity issued, as a share issuance cost and recorded this amount in equity as reduction in proceeds.
Kite Pharma Inc  
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]  
Revenues Recognized under Agreement
Revenues recognized under the agreement for the three and six months ended June 30, 2020 and 2019 were as follows (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2020201920202019
Revenue related to Kite agreement:
Recognition of license and stand-ready fee$6,227  $6,227  $12,454  $12,386  
Research services1,195  2,833  2,187  4,986  
Total$7,422  $9,060  $14,641  $17,372  
Pfizer SB-525  
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]  
Revenues Recognized under Agreement
Revenues recognized under the agreement for the three and six months ended June 30, 2020 and 2019 were as follows (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2020201920202019
Revenue related to Pfizer SB-525 agreement:
Recognition of upfront fee and research services$326  $4,635  $2,516  $1,595  
Milestone achievement103  —  1,096  —  
Total$429  $4,635  $3,612  $1,595  
Pfizer  
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]  
Revenues Recognized under Agreement
Revenues recognized under the agreement for the three and six months ended June 30, 2020 and 2019 were as follows (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2020201920202019
Recognition of upfront fee related to Pfizer C9ORF72
   agreement
$3,425  $455  $3,785  $1,070  
Sanofi  
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]  
Revenues Recognized under Agreement
Revenues recognized under the agreement for the three and six months ended June 30, 2020 and 2019 were as follows (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2020201920202019
Revenue related to Sanofi agreement:
Recognition of upfront fee$380  $901  $(349) $1,654  
Research services1,155  2,158  2,875  3,355  
Milestone achievement257  —  (235) —  
Total$1,792  $3,059  $2,291  $5,009