Revenue	3 Months Ended
Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Grant revenue In February 2018, the Company received Small Business Innovation Research (“SBIR”) grants from the National Institutes of Health in an aggregate amount of $2.8 million to support the clinical development of PB1046 for the treatment of pulmonary arterial hypertension for the period from February 17, 2018 to July 31, 2020. In connection with the SBIR grants, the United States government will receive a non-exclusive, royalty-free license to use any technology the Company develops under such grants. The Company recognized $0.3 million and $0.7 million of revenue under the SBIR grants in the three months ended March 31, 2020 and 2019, respectively. Revenue Under Collaborative Agreement In April 2019, the Company entered into an agreement with ImmunoForge Co., Ltd. (“ImmunoForge”) for the exclusive, worldwide license of PB1023, a long-acting, recombinant glucagon-like peptide-1 analogue, for the treatment of certain diseases, including conditions related to sarcopenia. The Company has received an upfront payment of $0.2 million upon execution of the contract, and $0.1 million for certain scientific consulting services and is entitled to receive $0.3 million in May 2020. The Company is eligible to receive milestone-based payments and mid-single digit royalty payments on net sales of licensed products, a percentage of which Duke University is entitled to receive pursuant to the Duke License. For the three months ended March 31, 2020 and 2019, the Company recognized no revenue related to the ImmunoForge agreement.

Revenue

Grant revenue

In February 2018, the Company received Small Business Innovation Research (“SBIR”) grants from the National Institutes of Health in an aggregate amount of $2.8 million to support the clinical development of PB1046 for the treatment of pulmonary arterial hypertension for the period from February 17, 2018 to July 31, 2020. In connection with the SBIR grants, the United States government will receive a non-exclusive, royalty-free license to use any technology the Company develops under such grants. The Company recognized $0.3 million and $0.7 million of revenue under the SBIR grants in the three months ended March 31, 2020 and 2019, respectively.

Revenue Under Collaborative Agreement

In April 2019, the Company entered into an agreement with ImmunoForge Co., Ltd. (“ImmunoForge”) for the exclusive, worldwide license of PB1023, a long-acting, recombinant glucagon-like peptide-1 analogue, for the treatment of certain diseases, including conditions related to sarcopenia.

The Company has received an upfront payment of $0.2 million upon execution of the contract, and $0.1 million for certain scientific consulting services and is entitled to receive $0.3 million in May 2020. The Company is eligible to receive milestone-based payments and mid-single digit royalty payments on net sales of licensed products, a percentage of which Duke University is entitled to receive pursuant to the Duke License. For the three months ended March 31, 2020 and 2019, the Company recognized no revenue related to the ImmunoForge agreement.