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Collaboration and License Agreement (Tables)
12 Months Ended
Dec. 31, 2018
Collaboration And License Agreement Disclosure [Abstract]  
Changes in Contract Assets and Liabilities

The following table presents changes in the Company’s contract assets and liabilities, which excludes research and development reimbursements under the cost sharing plan further discussed below, for the years ending December 31, 2018 and 2017 (in thousands):

 

 

 

Year Ended December 31, 2018

 

 

 

Balance at

Beginning of Period

 

 

Additions

 

 

Deductions

 

 

Balance at End

of Period

 

Contract liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

33,558

 

 

$

 

 

$

(33,558

)

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31, 2017

 

 

 

Balance at

Beginning of Period

 

 

Additions

 

 

Deductions

 

 

Balance at End

of Period

 

Contract assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Receivable from collaboration partner

 

$

45,000

 

 

$

 

 

$

(45,000

)

 

$

 

Contract liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

$

45,000

 

 

$

 

 

$

(11,442

)

 

$

33,558

 

 

Schedule of Research and Development Reimbursement Receivables and Related Prepayments from Collaboration Partner

The following table presents the Sanofi research and development reimbursement receivables and related prepayment activity during the years ended December 31, 2018 and 2017 (in thousands):  

 

 

 

Year Ended December 31,

 

 

 

2018

 

 

2017

 

Receivable from collaboration partner

 

 

 

 

 

 

 

 

Balance at beginning of year

 

$

1,013

 

 

$

 

Additions

 

 

3,994

 

 

 

1,013

 

Deductions

 

 

(5,007

)

 

 

 

Balance at end of year

 

$

-

 

 

$

1,013

 

 

 

 

 

 

 

 

 

 

Prepayment from collaboration partner for mavacamten

 

 

 

 

 

 

 

 

Balance at beginning of year

 

$

4,432

 

 

$

 

Additions for advance billings

 

 

-

 

 

 

1,013

 

Payments received from Sanofi

 

 

31,659

 

 

 

10,697

 

Actual expenses incurred

 

 

(23,118

)

 

 

(7,278

)

Balance at end of year

 

$

12,973

 

 

$

4,432