Significant agreements (Tables)

6 Months Ended

Jun. 30, 2022

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				Six Months
	Ended				Ended
	June 30,				June 30,
	2022		2021		2022		2021
Collaboration revenues
Ionis	$	2,255	$	—	$	4,569	$	—
Genentech		872		1,631		2,346		3,079
Dementia Discovery Fund		86		154		158		237
AstraZeneca		1,165		—		1,165		277
Total collaboration revenues	$	4,378	$	1,785	$	8,238	$	3,593

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

Summary of 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		June 30,
	2022		Additions		Deductions		Rates		2022
Contract liabilities:
Deferred revenue
Ionis collaboration deferred revenue	$	34,115	$	—	$	(4,569)	$	(3,159)	$	26,387
Genentech collaboration deferred revenue		34,436		10,000		(2,346)		(3,412)		38,678
DDF collaboration deferred revenue		428		—		(158)		(35)		235
AstraZeneca collaboration deferred revenue		2,361		—		(1,165)		(117)		1,079
Total deferred revenue	$	71,340	$	10,000	$	(8,238)	$	(6,723)	$	66,379

	Beginning Balance						Impact of		Ending Balance
	January 1,						Exchange		December 31,
	2021		Additions		Deductions		Rates		2021
Contract liabilities:
Deferred revenue
Ionis collaboration deferred revenue	$	3,000	$	36,002	$	(4,242)	$	(645)	$	34,115
Genentech collaboration deferred revenue		27,579		13,000		(5,660)		(483)		34,436
DDF collaboration deferred revenue		821		—		(391)		(2)		428
AstraZeneca collaboration deferred revenue		3,756		54		(1,404)		(45)		2,361
Total deferred revenue	$	35,156	$	49,056	$	(11,697)	$	(1,175)	$	71,340

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

During the three and six months ended June 30, 2022 and 2021, 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				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Revenue recognized in the period from:
Revenue recognized based on proportional performance	$	3,213	$	1,405	$	7,032	$	3,057
Revenue recognized based on expiration of material rights		1,165		380		1,206		380
Revenue recognized based on changes in transaction price		—		—		—		156
Total	$	4,378	$	1,785	$	8,238	$	3,593

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 June 30, 2022, 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 initial allocation of the transaction price 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