Significant agreements (Tables)

12 Months Ended

Dec. 31, 2022

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,
	2022		2021		2020
Collaboration revenues
Ionis	$	9,347	$	4,242	$	—
Genentech		3,565		5,660		4,896
Dementia Discovery Fund		386		391		436
AstraZeneca		1,165		1,404		2,696
Oxurion		—		—		2,362
Total collaboration revenues	$	14,463	$	11,697	$	10,390

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 liabilities (in thousands):

	Beginning Balance						Impact of		Ending Balance
	January 1,						Exchange		December 31,
	2022		Additions		Deductions		Rates		2022
Contract liabilities:
Deferred revenue
Ionis collaboration deferred revenue	$	34,115	$	99	$	(9,347)	$	(3,378)	$	21,489
Genentech collaboration deferred revenue		34,436		12,000		(3,565)		(3,563)		39,308
DDF collaboration deferred revenue		428		—		(386)		(42)		—
AstraZeneca collaboration deferred revenue		2,361		—		(1,165)		(120)		1,076
Total deferred revenue	$	71,340	$	12,099	$	(14,463)	$	(7,103)	$	61,873

	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 years ended December 31, 2022, 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):

	Year Ended
	December 31,
	2022		2021		2020
Revenue recognized in the period from:
Revenue recognized based on proportional performance	$	12,358	$	9,652	$	6,326
Revenue recognized based on expiration of material rights		1,433		1,876		1,702
Revenue recognized based on changes in transaction price		672		169		—
Total	$	14,463	$	11,697	$	8,028

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 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 to the separate performance obligations is as follows (in thousands):

	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

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