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License, Collaboration and Other Significant Agreements (Tables)
9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Revenues Recognized from License, Collaboration and Other Significant Agreements
During the three and nine months ended September 30, 2020 and 2019, the Company recognized the following revenues from its license, collaboration and other significant agreements and had the following deferred revenue balances as of September 30, 2020:
 
 Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
License, Collaboration and Other Revenue:(in thousands)(in thousands)
MTPC Agreement$373 $— $15,373 $10,000 
Otsuka U.S. Agreement16,256 39,718 $80,721 $103,461 
Otsuka International Agreement7,243 20,220 39,445 64,643 
Total Proportional Performance Revenue$23,872 $59,938 $135,539 $178,104 
JT and Torii1,183 1,549 4,049 4,266 
MTPC Other Revenue541 486 4,723 872 
Total License, Collaboration and Other Revenue$25,596 $61,973 $144,311 $183,242 
Schedule of Deferred Revenues During the three and nine months ended September 30, 2020 and 2019, the Company recognized the following revenues from its license, collaboration and other significant agreements and had the following deferred revenue balances as of September 30, 2020:
 September 30, 2020
 Short-TermLong-TermTotal
Deferred Revenue:(in thousands)
Otsuka U.S. Agreement$10,672 $20,777 $31,449 
Otsuka International Agreement7,362 8,204 15,566 
Vifor Agreement— 4,679 4,679 
Total$18,034 $33,660 $51,694 
Schedule of Changes in Contract Assets and Liabilities
The following table presents changes in the Company’s contract assets and liabilities during the nine months ended September 30, 2020 and 2019 (in thousands):
Nine Months Ended September 30, 2020Balance at
Beginning of
Period
AdditionsDeductionsBalance at End
of Period
Contract assets:    
Accounts receivable(1)$15,822 $143,148 $(156,209)$2,761 
Prepaid expenses and other current assets$— $1,248 $— $1,248 
Contract liabilities:
Deferred revenue$72,950 $110,295 $(131,551)$51,694 
Accounts payable$— $10,097 $(5,651)$4,446 
Accrued expenses and other current liabilities$— $615 $(615)$— 
Nine Months Ended September 30, 2019
Contract assets:
Other current assets$— $10,000 $(10,000)$— 
Accounts receivable(1)$1,587 $134,268 $(131,651)$4,204 
Contract liabilities:
Deferred revenue$112,689 $131,444 $(168,104)$76,029 
Accounts payable$13,492 $— $(13,492)$— 
 
(1)Excludes accounts receivable from other services related to clinical and regulatory activities performed by the Company on behalf of MTPC that are not included in the performance obligations identified under the MTPC Agreement as of September 30, 2020 and 2019 and December 31, 2019 and 2018. Also excludes accounts receivable related to amounts due to the Company from product sales which are included in the accompanying unaudited condensed consolidated balance sheet as of September 30, 2020 and December 31, 2019.
Schedule of Revenue Recognized Resulting from Changes in Contract Assets and Contract Liabilities
During the three and nine months ended September 30, 2020 and 2019, the Company recognized the following revenues as a result of changes in the contract asset and contract liability balances in the respective periods (in thousands):
 
 Three Months Ended September 30,Nine Months Ended September 30,
Revenue Recognized in the Period from:2020201920202019
Amounts included in deferred revenue at the beginning of the period$6,537 $27,095 $29,203 $60,441 
Performance obligations satisfied in previous periods$20,648 $— $21,346 $1,254