Revenue	3 Months Ended
Mar. 31, 2020
Revenue
Revenue	(11) Revenue Product Development and Licensing Revenue The Company entered into an agreement with Rockefeller University in September 2013, as amended, (the “Rockefeller Agreement”) pursuant to which the Company performs manufacturing and development services for Rockefeller University for their portfolio of antibodies against HIV. This portfolio was licensed to Gilead Sciences in January 2020 from Rockefeller University (“Rockefeller Transaction”). Pursuant to the Rockefeller Agreement, the Company received an upfront payment of $1.8 million as a result of the Rockefeller Transaction which was recorded to revenue during the three months ended March 31, 2020. The Company is eligible to receive additional payments from Rockefeller University if this portfolio progresses through clinical and commercial development. Contract and Grants Revenue The Company has entered into the Rockefeller Agreement and an agreement with Duke University pursuant to which the Company performs manufacturing and research and development services on a time-and-materials basis. The Company recognized $0.4 million and $1.2 million in revenue for labor hours and direct costs incurred under these agreements during the three months ended March 31, 2020 and 2019, respectively. Contract Assets and Liabilities At December 31, 2019 and March 31, 2020, the Company’s right to consideration under all contracts was considered unconditional, and as such, there were no recorded contract assets. At December 31, 2019 and March 31, 2020, the Company had $0.3 million and $0.2 million in contract liabilities recorded, respectively. Revenue recognized from contract liabilities as of December 31, 2019 during the three months ended March 31, 2020 was $0.1 million.

(11) Revenue

Product Development and Licensing Revenue

The Company entered into an agreement with Rockefeller University in September 2013, as amended, (the “Rockefeller Agreement”) pursuant to which the Company performs manufacturing and development services for Rockefeller University for their portfolio of antibodies against HIV. This portfolio was licensed to Gilead Sciences in January 2020 from Rockefeller University (“Rockefeller Transaction”). Pursuant to the Rockefeller Agreement, the Company received an upfront payment of $1.8 million as a result of the Rockefeller Transaction which was recorded to revenue during the three months ended March 31, 2020. The Company is eligible to receive additional payments from Rockefeller University if this portfolio progresses through clinical and commercial development.

Contract and Grants Revenue

The Company has entered into the Rockefeller Agreement and an agreement with Duke University pursuant to which the Company performs manufacturing and research and development services on a time-and-materials basis. The Company recognized $0.4 million and $1.2 million in revenue for labor hours and direct costs incurred under these agreements during the three months ended March 31, 2020 and 2019, respectively.

Contract Assets and Liabilities

At December 31, 2019 and March 31, 2020, the Company’s right to consideration under all contracts was considered unconditional, and as such, there were no recorded contract assets. At December 31, 2019 and March 31, 2020, the Company had $0.3 million and $0.2 million in contract liabilities recorded, respectively. Revenue recognized from contract liabilities as of December 31, 2019 during the three months ended March 31, 2020 was $0.1 million.