Significant Agreements (Tables)

12 Months Ended

Dec. 31, 2019

Significant agreements.

Summary of revenue recognized from collaboration arrangements

The following table summarizes the revenue recognized in the Company’s consolidated statements of operations and comprehensive loss from these arrangements (in thousands):

	Year Ended
	December 31,
	2019		2018		2017
Collaboration revenues
AstraZeneca	$	1,683	$	1,386	$	890
Sanofi		10,724		4,007		355
Oxurion		—		1,743		815
Dementia Discovery Fund		394		—		—
Material transfer agreement		1,000		—		—
Total collaboration revenues	$	13,801	$	7,136	$	2,060

Summary of changes in the balances of the Company’s contract assets and liabilities

	Balance at						Impact of		Balance at
	Beginning of						Exchange		End of
	Period		Additions		Deductions		Rates		Period
Period ended December 31, 2019
Contract assets	$	—	$	149	$	(149)	$	—	$	—
Contract liabilities:
Deferred revenue
AstraZeneca collaboration deferred revenue		4,727		58		(35)		163		4,913
Sanofi collaboration deferred revenue		9,908		—		(9,984)		76		—
DDF collaboration deferred revenue		—		1,114		(394)		24		744
Total deferred revenue	$	14,635	$	1,172	$	(10,413)	$	263	$	5,657

The following table presents changes in the balances of the Company’s contract assets and liabilities (in thousands):

	Balance at						Impact of		Balance at
	Beginning of						Exchange		End of
	Year		Additions		Deductions		Rates		Period
Period ended December 31, 2018
Contract assets	$	—	$	91	$	(91)	$	—	$	—
Contract liabilities:
Deferred revenue
AstraZeneca collaboration deferred revenue		—		5,350		(466)		(157)		4,727
Sanofi collaboration deferred revenue		14,467		—		(4,006)		(553)		9,908
Total deferred revenue	$	14,467	$	5,350	$	(4,472)	$	(710)	$	14,635

Summary of recognition of revenues as a result of changes in contract asset and contract liability balances

During the year ended December 31, 2019, 2018 and 2017, the Company recognized the following revenues as a result of changes in the contract asset and the contract liability balances in the respective periods (in thousands):

	Year Ended
	December 31,
	2019		2018		2017
Revenue recognized in the period from:
Revenue recognized based on proportional performance	$	(429)	$	(4,472)	$	(355)
Revenue recognized based on expiration of material rights		(9,984)		—		—
Total	$	(10,413)	$	(4,472)	$	(355)

AstraZeneca

Significant agreements.

Summary of allocation of transaction price to separate performance obligations

Based on the relative standalone selling price, the allocation of the transaction price to the separate performance obligations is as follows (in thousands):

	Allocation of
Performance Obligations	Transaction Price
Target Three Research License and Related Services	$	650
Target 3 Material Right		1,504
Target 4 Material Right		1,204
Target 5 Material Right		1,165
Target 6 Material Right		1,127
	$	5,650

Sanofi

Significant agreements.

Summary of allocation of transaction price to separate performance obligations

Based on the relative standalone selling price, the allocation of the transaction price to the separate performance obligations was as follows (in thousands):

	Allocation of
Performance Obligations	Transaction Price
Sickle Cell Research License and Related Services	$	1,405
Hemophilia Research License and Related Services		2,811
Sickle Cell License Option Material Right		5,286
Hemophilia License Option Material Right		4,698
	$	14,200