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Collaboration and License Agreements and Supply Agreements (Tables)
3 Months Ended
Mar. 31, 2020
Collaboration And License Agreements And Supply Agreements [Abstract]  
Summary of Recognized Revenue In accordance with the collaboration agreements, the Company recognized revenue as follows:

 

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2020

 

 

2019

 

 

 

(in thousands)

 

Bristol Myers Squibb Company ("BMS") (1)

 

$

2,045

 

 

$

1,575

 

Merck Sharp & Dohme Corporation (“Merck”)—related party

 

 

2,777

 

 

 

4,635

 

Merck KGaA, Darmstadt, Germany (operating in the United

   States and Canada under the name “EMD Serono”)

 

 

2,294

 

 

 

2,138

 

SutroVax—related party

 

 

36

 

 

 

281

 

Total revenue

 

$

7,152

 

 

$

8,629

 

 

(1)

In January 2019, BMS announced the entry into a definitive agreement to acquire Celgene and the transaction was completed in November 2019.

Summary of Deferred Revenue Balance

The following table presents the changes in the Company’s deferred revenue balance from collaboration agreements during the three months ended March 31, 2020:

 

 

 

Three Months Ended

 

 

 

March 31, 2020

 

 

 

(in thousands)

 

Deferred revenue—December 31, 2019

 

$

35,660

 

Additions to deferred revenue

 

 

5,000

 

Recognition of revenue in current period

 

 

(2,674

)

Deferred revenue—March 31, 2020

 

$

37,986