Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions [Abstract]

Related Party Transactions

16. Related Party Transactions

As described in Note 12, in January 2016 the Company entered into the License Agreement and, in November 2018, a letter agreement with Nestlé, successor in interest to Nestec, Ltd., for the development and commercialization of certain product candidates in development for the treatment and management of CDI and IBD, including UC and Crohn’s disease. Nestlé is a related party since Nestlé is one of the Company’s significant stockholders and is related to Nestlé Health Science U.S. Holdings, Inc, another significant stockholder. During the years ended December 31, 2020, 2019, and 2018, the Company recognized $11,897, $27,188, and $26,917, respectively, of related party revenue associated with the License Agreement. As of December 31, 2020 and 2019, there was $108,174 and $110,071, respectively, of deferred revenue related to the License Agreement, which is classified as current or non-current in the consolidated balance sheets. The Company has made no payments to Nestlé during the year ended December 31, 2020. There is no amount due from Nestlé as of December 31, 2020.

In July 2019, the Company entered into a sublease agreement with Flagship Pioneering, one of the Company’s significant stockholders, to sublease a portion of its office and laboratory space in Cambridge, Massachusetts. The term of the sublease agreement commenced in July 2019 and ends on the last day of the 24th calendar month following commencement, with no option to extend (see Note 7). Under this agreement, the Company recorded other income of $1,813 and $890 during the twelve months ended December 31, 2020 and 2019. The Company received cash payments of $1,813 and $890 during the twelve months ended December 31, 2020 and 2019.