Significant Agreements (Tables)

12 Months Ended

Dec. 31, 2020

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,
	2020		2019		2018
Collaboration revenues
AstraZeneca	$	2,696	$	1,683	$	1,386
Sanofi		—		10,724		4,007
Oxurion		2,362		—		1,743
Dementia Discovery Fund		436		394		—
Material transfer agreement		—		1,000		—
Genentech		4,896		—		—
Total collaboration revenues	$	10,390	$	13,801	$	7,136

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

	Beginning Balance						Impact of		Ending Balance
	January 1,						Exchange		December 31,
	2020		Additions		Deductions		Rates		2020
Contract assets	$	—	$	—	$	—	$	—	$	—
Contract liabilities:
Deferred revenue
AstraZeneca collaboration deferred revenue		4,913		585		(2,696)		954		3,756
DDF collaboration deferred revenue		744		500		(436)		13		821
Genentech collaboration deferred revenue		—		31,000		(4,896)		1,475		27,579
Evaluation and Option Agreement deferred revenue		—		3,000		—		—		3,000
Total deferred revenue	$	5,657	$	35,085	$	(8,028)	$	2,442	$	35,156

	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 years ended December 31, 2020, 2019 and 2018, 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,
	2020		2019		2018
Revenue recognized in the period from:
Revenue recognized based on proportional performance	$	(6,326)	$	(429)	$	(4,472)
Revenue recognized based on expiration of material rights		(1,702)		(9,984)		—
Total	$	(8,028)	$	(10,413)	$	(4,472)

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 was 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

Genentech

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