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License and Research Agreements (Tables)
12 Months Ended
Dec. 31, 2020
Share of Collaboration and Royalty Revenue Related to Crysvita

The Company’s share of collaboration and royalty revenue related to Crysvita was as follows (in thousands):

 

Year Ended December 31,

 

 

2020

 

 

2019

 

 

2018

 

Company's share of revenue in profit-share territory

$

128,597

 

 

$

74,869

 

 

$

15,334

 

Royalty revenue in European territory

 

1,498

 

 

 

8,120

 

 

 

2,892

 

Non-cash royalty revenue in European territory

 

12,995

 

 

 

 

 

 

 

Total

$

143,090

 

 

$

82,989

 

 

$

18,226

 

Schedule of Cost Sharing Payments

Under the collaboration agreement, KKC and the Company share certain development and commercialization costs. As a result, the Company was reimbursed for these costs and operating expenses were reduced as follows (in thousands):

 

Year Ended December 31,

 

 

2020

 

 

2019

 

 

2018

 

Research and development

$

21,476

 

 

$

27,309

 

 

$

32,240

 

Selling, general and administrative

 

25,186

 

 

 

21,828

 

 

 

14,228

 

Total

$

46,662

 

 

$

49,137

 

 

$

46,468

 

Solid Biosciences, Inc.  
Schedule of Changes in Fair Value of Investment in Securities

The changes in the fair value of the Company’s investment in Solid’s common stock were as follows (in thousands):

 

Solid common stock

 

Acquisition of investment in Solid

common stock in October 2020

$

26,843

 

Change in fair value

 

32,477

 

December 31, 2020

$

59,320

 

Arcturus  
Schedule of Changes in Fair Value of Equity Investment

The changes in the fair value of the Company’s equity investment in Arcturus were as follows (in thousands):

 

Arcturus common stock

 

Option to purchase additional shares of Arcturus common stock

 

Total

 

Acquisition of equity investment in

    Arcturus in June 2019

$

13,872

 

$

467

 

$

14,339

 

Change in fair value

 

12,216

 

 

1,197

 

 

13,413

 

December 31, 2019

 

26,088

 

 

1,664

 

 

27,752

 

Change in fair value

 

113,978

 

 

23,948

 

 

137,926

 

Transfer of value upon option exercise

 

35,212

 

 

(25,612

)

 

9,600

 

Sale of shares

 

(79,842

)

 

 

 

(79,842

)

December 31, 2020

$

95,436

 

$

 

$

95,436