Significant Agreements (Tables)

9 Months Ended

Sep. 30, 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				Nine Months
	Ended				Ended
	September 30,				September 30,
	2020		2019		2020		2019
Collaboration revenues
AstraZeneca	$	213	$	441	$	944	$	1,229
Sanofi		—		—		—		6,016
Oxurion		2,362		—		2,362		—
Dementia Discovery Fund		58		173		170		275
Material transfer agreement		—		—		—		1,000
Genentech		1,209		—		3,066		—
Total collaboration revenues	$	3,842	$	614	$	6,542	$	8,520

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):

	Beginning Balance						Impact of		Ending Balance
	January 1,						Exchange		September 30,
	2020		Additions		Deductions		Rates		2020
Contract assets	$	—	$	—	$	—	$	—	$	—
Contract liabilities:
Deferred revenue
AstraZeneca collaboration deferred revenue		4,913		433		(118)		(138)		5,090
DDF collaboration deferred revenue		744		—		(178)		(16)		550
Genentech collaboration deferred revenue		—		31,000		(3,200)		(165)		27,635
Total deferred revenue	$	5,657	$	31,433	$	(3,496)	$	(319)	$	33,275

	Beginning Balance						Impact of		Ending Balance
	January 1,						Exchange		December 30,
	2019		Additions		Deductions		Rates		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 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 the contract liability balances in the respective periods (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2020		2019		2020		2019
Revenue recognized in the period from:
Revenue recognized based on proportional performance	$	(1,267)	$	(173)	$	(3,496)	$	(310)
Revenue recognized based on expiration of material rights		—		—		—		(5,286)
Total	$	(1,267)	$	(173)	$	(3,496)	$	(5,596)

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