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Significant agreements (Tables)
9 Months Ended
Sep. 30, 2022
Significant agreements.  
Summary of revenue recognized from collaboration arrangements

Three Months 

Nine Months

Ended 

Ended 

September 30, 

September 30, 

    

2022

    

2021

    

2022

    

2021

Collaboration revenues

    

  

    

  

    

  

    

  

Ionis

$

2,195

$

2,066

$

6,764

$

2,066

Genentech

798

1,063

3,144

4,142

Dementia Discovery Fund

 

47

 

77

 

205

 

314

AstraZeneca

1,127

1,165

1,404

Total collaboration revenues

$

3,040

$

4,333

$

11,278

$

7,926

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,

    

2022

    

Additions

    

Deductions

    

Rates

    

2022

Contract liabilities:

  

  

  

  

  

Deferred revenue

  

  

  

  

  

Ionis collaboration deferred revenue

$

34,115

$

$

(6,764)

$

(5,190)

$

22,161

Genentech collaboration deferred revenue

34,436

10,000

(3,144)

(6,475)

34,817

DDF collaboration deferred revenue

 

428

 

 

(205)

(53)

 

170

AstraZeneca collaboration deferred revenue

 

2,361

 

 

(1,165)

(204)

 

992

Total deferred revenue

$

71,340

$

10,000

$

(11,278)

$

(11,922)

$

58,140

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 nine months ended September 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

Nine Months Ended

September 30, 

September 30, 

2022

    

2021

2022

    

2021

Revenue recognized in the period from:

  

  

  

  

Revenue recognized based on proportional performance

$

3,040

$

3,206

$

10,072

$

6,263

Revenue recognized based on expiration of material rights

 

1,127

1,206

 

1,507

Revenue recognized based on changes in transaction price

156

Total

$

3,040

$

4,333

$

11,278

$

7,926

Ionis  
Significant agreements.  
Summary of allocation of transaction price to separate performance obligations

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

Allocation of 

Performance Obligations

    

Transaction Price

Genentech Collaboration Program #1 Performance Obligation

$

4,019

Genentech Collaboration Program #2 Performance Obligation

 

8,037

Specified Targeting Arm Material Right Arm for Genentech Collaboration Program #1

 

352

Two material rights associated with the LSR Go Option for Collaboration Programs #1 and #2

 

12,400

Material rights associated with limited substitution rights

1,187

Two material rights for Expansion Options

7,005

$

33,000

AstraZeneca  
Significant agreements.  
Summary of allocation of transaction price to separate performance obligations

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