PAYABLE TO LICENSOR

12 Months Ended

Dec. 31, 2018

Disclosure Of Payable To Licensor [Abstract]

PAYABLE TO LICENSOR

NOTE 6 — PAYABLE TO LICENSOR

Under the terms of the license agreement with REGENXBIO, we are obligated to pay $10 million to REGENXBIO by November 4, 2019. This amount is recorded as current portion of payable to licensor on the consolidated balance sheet. In addition, REGENXBIO will receive a total of  $100 million in annual fees, payable upon the second through sixth anniversaries of the agreement, $20 million of which is guaranteed. The guaranteed amount of  $20 million is recorded as payable to licensor on the consolidated balance sheet. Refer to Note 5 for further information about the license agreement with REGENXBIO.