Significant Agreements (Tables)

3 Months Ended

Mar. 31, 2020

Significant agreements.

Summary of revenue recognized from collaboration arrangements

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

	Three Months
	Ended
	March 31,
	2020		2019
Collaboration revenues
AstraZeneca	$	412	$	425
Sanofi		—		5,959
Dementia Discovery Fund		56		—
Genentech		661		—
Total collaboration revenues	$	1,129	$	6,384

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

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
	Period		Additions		Deductions		Rates		Period
Period ended March 31, 2020
Contract assets	$	—	$	—	$	—	$	—	$	—
Contract liabilities:
Deferred revenue
AstraZeneca collaboration deferred revenue		4,913		—		(412)		157		4,658
DDF collaboration deferred revenue		744		—		(56)		(48)		640
Genentech collaboration deferred revenue		—		31,000		(661)		(1,384)		28,955
Total deferred revenue	$	5,657	$	31,000	$	(1,129)	$	(1,275)	$	34,253

	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

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

During the three months ended March 31, 2020 and 2019, 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):

	Three Months Ended
	March 31,
	2020		2019
Revenue recognized in the period from:
Revenue recognized based on proportional performance	$	(1,129)	$	(1,044)
Revenue recognized based on expiration of material rights		—		(5,340)
Total	$	(1,129)	$	(6,384)

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 at the inception of the arrangement 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 at the inception of the arrangement is 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

Genetech

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
Genentech Collaboration Program #1 Performance Obligation	$	3,775
Genentech Collaboration Program #2 Performance Obligation		7,550
Specified Targeting Arm Material Right Arm for Genentech Collaboration Program #1		330
Two material rights associated with the LSR Go Option for Collaboration Programs #1 and #2		11,650
Material rights associated with limited substitution rights		1,115
Two material rights for Expansion Options		6,580
	$	31,000