Significant agreements (Tables)

9 Months Ended

Sep. 30, 2021

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 these arrangements (in thousands):

	Three Months				Nine Months
	Ended				Ended
	September 30,				September 30,
	2021		2020		2021		2020
Collaboration revenues
Ionis	$	2,066	$	—	$	2,066	$	—
Genentech		1,063		1,209		4,142		3,066
Dementia Discovery Fund		77		58		314		170
AstraZeneca		1,127		213		1,404		944
Oxurion		—		2,362		—		2,362
Total collaboration revenues	$	4,333	$	3,842	$	7,926	$	6,542

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,
	2021		Additions		Deductions		Rates		2021
Contract liabilities:
Deferred revenue
Ionis collaboration deferred revenue	$	3,000	$	34,442	$	(2,066)	$	(816)	$	34,560
Genentech collaboration deferred revenue		27,579		2,000		(4,142)		(347)		25,090
DDF collaboration deferred revenue		821		—		(314)		(4)		503
AstraZeneca collaboration deferred revenue		3,756		54		(1,404)		(52)		2,354
Total deferred revenue	$	35,156	$	36,496	$	(7,926)	$	(1,219)	$	62,507

	Beginning Balance						Impact of		Ending Balance
	January 1,						Exchange		December 30,
	2020		Additions		Deductions		Rates		2020
Contract liabilities:
Deferred revenue
Ionis evaluation and option agreement deferred revenue	$	—	$	3,000	$	—	$	—	$	3,000
Genentech collaboration deferred revenue		—		31,000		(4,896)		1,475		27,579
DDF collaboration deferred revenue		744		500		(436)		13		821
AstraZeneca collaboration deferred revenue		4,913		585		(2,696)		954		3,756
Total deferred revenue	$	5,657	$	35,085	$	(8,028)	$	2,442	$	35,156

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, 2021 and 2020, 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,
	2021		2020		2021		2020
Revenue recognized in the period from:
Revenue recognized based on proportional performance	$	3,206	$	1,267	$	6,263	$	3,496
Revenue recognized based on expiration of material rights		1,127		—		1,507		—
Revenue recognized based on changes in transaction price		—		—		156		—
Total	$	4,333	$	1,267	$	7,926	$	3,496

Ionis

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 as of September 30, 2021 to the separate performance obligations is as follows (in thousands):

	Allocation of
Performance Obligations	Transaction Price
Combined licenses and research and discovery performance obligation	$	34,100
Four material rights associated with credits for IND Acceptance fees		3,900
	$	38,000

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 as of September 30, 2021 to the separate performance obligations is as follows (in thousands):Allocation of 

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