Collaborative Research and Development Agreements (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Milestones Achieved

Milestones under the GSK Agreement are as follows:

Anti-PD-1
(JEMPERLI/Dostarlimab)

Anti-TIM-3
(GSK4069889A/Cobolimab)

Anti-LAG-3

(GSK40974386)

Milestone Event

Amount

Quarter Recognized

Amount

Quarter Recognized

Amount

Quarter Recognized

Initiated in vivo toxicology studies using good laboratory practices (GLPs)

$1.0M

Q2'15

$1.0M

Q4'15

$1.0M

Q3'16

IND clearance from the FDA

$4.0M

Q1'16

$4.0M

Q2'16

$4.0M

Q2'17

Phase 2 clinical trial initiation

$3.0M

Q2'17

$3.0M

Q4'17

$3.0M

Q4'19

Phase 3 clinical trial initiation - first indication

$5.0M

Q3'18

$5.0M

Q4'22

$5.0M

—

Phase 3 clinical trial initiation - second indication

$5.0M

Q2'19

$5.0M

—

$5.0M

—

Filing of the first BLA(1) - first indication

$10.0M

Q1'20

$10.0M

—

$10.0M

—

Filing of the first MAA(2) - first indication

$5.0M

Q1'20

$5.0M

—

$5.0M

—

Filing of the first BLA - second indication

$10.0M

Q1'21

$10.0M

—

$10.0M

—

First BLA approval - first indication

$20.0M

Q2'21

$20.0M

—

$20.0M

—

First MAA approval - first indication

$10.0M

Q2'21

$10.0M

—

$10.0M

—

First BLA approval - second indication

$20.0M

Q3'21

$20.0M

—

$20.0M

—

Filing of the first MAA - second indication(3)

$5.0M

—

$5.0M

—

$5.0M

—

First MAA approval - second indication(3)

$10.0M

—

$10.0M

—

$10.0M

—

First commercial sales milestone(3)

$15.0M

—

$15.0M

—

$15.0M

—

Second commercial sales milestone(3)

$25.0M

—

$25.0M

—

$25.0M

—

Third commercial sales milestone(3)

$50.0M

—

$50.0M

—

$50.0M

—

Fourth commercial sales milestone

$75.0M

—

$75.0M

—

$75.0M

—

Milestones recognized through December 31, 2022

$93.0M

—

$13.0M

—

$8.0M

—

Milestones that may be recognized in the future

$180.0M

—

$260.0M

—

$265.0M

—

(1)Biologics License Application (“BLA”)

(2)Marketing Authorization Application (“MAA”)

(3)For JEMPERLI, the filing and approval of the first MAA for a second indication and first three commercial sales milestones are included as part of the royalty monetization agreement with Sagard, see Note 5