NET REVENUES FROM COLLABORATIONS (Tables)

12 Months Ended

Dec. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Revenue from Collaborators

Net revenues from collaborations consist of the following:

	Year Ended December 31,
(In thousands)	2021		2020		2019
Regeneron Pharmaceuticals	$	113,226	$	74,072	$	26,075
Novartis AG	49,120		22,208		2,315
Vir Biotechnology	16,897		31,396		12,809
Other	1,710		3,657		12,014
Total	$	180,953	$	131,333	$	53,213

Balance and Change in Contract Liabilities Related to Collaboration Agreements

The following table presents the balance of our receivables and contract liabilities related to our collaboration agreements: 

	As of December 31,
(In thousands)	2021		2020
Receivables included in "Accounts receivable, net"	$	73,266	$	33,542
Contract liabilities included in "Deferred revenue"	$	88,627	$	120,021

Schedule of Research and Development Expenses Incurred by Type that are Directly Attributable to Collaboration Agreements

The following table provides research and development expenses incurred by type, for which we recognize net revenue, that are directly attributable to our collaboration agreements, by collaboration partner:

	Year Ended December 31,
	2021						2020						2019
(In thousands)	Clinical Trial and Manufacturing		External Services		Other		Clinical Trial and Manufacturing		External Services		Other		Clinical Trial and Manufacturing		External Services		Other
Regeneron	$	24,989	$	840	$	47,582	$	13,302	$	171	$	44,360	$	2,793	$	344	$	21,779
Vir	9,546		723		3,080		18,470		584		11,590		10,353		381		4,745
Other	765		52		1,409		1,643		181		2,832		13,530		334		2,713
Total	$	35,300	$	1,615	$	52,071	$	33,415	$	936	$	58,782	$	26,676	$	1,059	$	29,237

Schedule of Allocated Transaction Price

We allocated the initial transaction price to each unit of account based on the applicable accounting guidance as follows, in thousands:

Performance Obligations	Standalone Selling Price		Transaction Price Allocated		Accounting Guidance
Research Services Obligation	$	130,700	$	183,100	ASC 606
C5 License Obligation	97,600		92,500		ASC 606
C5 Co-Co Obligation	364,600		246,000		ASC 808
			$	521,600

The following tables provide a summary of the transaction price allocated to each unit of account based on the applicable accounting guidance, in addition to revenue activity during the period, in thousands:

	Transaction Price Allocated		Deferred Revenue
Performance Obligations	As of December 31, 2021		As of December 31, 2021		As of December 31, 2020		Accounting Guidance
Research Services Obligation	$	200,680	$	42,300	$	54,900	ASC 606
C5 License Obligation	91,700		26,900		58,700		ASC 606
C5 Co-Co Obligation	246,000		212,500		231,400		ASC 808
Total	$	538,380	$	281,700	$	345,000

Schedule of Revenue Recognized Based on Accounting Guidance

	Revenue Recognized During
Performance Obligations	Year Ended December 31, 2021		Year Ended December 31, 2020		Year Ended December 31, 2019		Accounting Guidance
Research Services Obligation	$	37,600	$	44,800	$	21,000	ASC 606
C5 License Obligation	44,600		7,100		—		ASC 606
C5 Co-Co Obligation	18,900		11,700		2,900		ASC 808
	$	101,100	$	63,600	$	23,900