Revenue	12 Months Ended
Dec. 31, 2020
Revenue
Revenue	(13) Revenue Product Development and Licensing Revenue The Company’s agreement with Rockefeller University, as amended, (the “Rockefeller Agreement”) provides for the Company to perform 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 first quarter of 2020. The Company is eligible to receive additional payments from Rockefeller University if this portfolio progresses through clinical and commercial development. The Company entered into a clinical collaboration agreement with BMS in 2014 to evaluate the safety, tolerability and preliminary efficacy of varlilumab and Opdivo(R), BMS's PD-1 immune checkpoint inhibitor, in a Phase 1/2 study. Under this agreement, BMS made an upfront payment to Celldex of $5.0 million and provides funding for 50% of the external costs incurred by the Company in connection with the clinical trial. The performance obligations under the collaboration agreement consist of intellectual property licenses and the performance of research and development services. The Company determined that the performance obligations were not separately identifiable and were not distinct (and did not have standalone value) due to the specialized nature of the services to be provided, the dependent relationship between the performance obligations and the Company's proprietary technology that makes them uniquely qualified to perform the R&D services. Therefore, the Company concluded that the collaboration agreement has a single identified or combined performance obligation. As of December 31, 2020, deferred revenue related to the Company's remaining performance obligation under this arrangement was $0.0 million. The Company recorded $0.0 million, $0.2 million and $3.3 million in revenue related to this agreement during the years ended December 31, 2020, 2019 and 2018, respectively. Contract and Grants Revenue The Company has entered into the Rockefeller Agreement and agreements with Gilead Sciences and Duke University pursuant to which the Company performs manufacturing and research and development services on a time-and-materials basis or at a negotiated fixed-price. The Company recognized $4.5 million, $2.6 million and $3.2 million in revenue under these agreements during the years ended December 31, 2020, 2019 and 2018, respectively. During the third quarter of 2020, the Company was awarded a Small Business Innovation Research (“SBIR”) grant from the National Institutes of Health (NIH) to support the Company’s CDX-1140 and CDX-301 programs. The Company recognized $0.4 million in grant revenue under the award during the year ended December 31, 2020. Contract Assets and Liabilities At December 31, 2020 and 2019, the Company’s right to consideration under all contracts was considered unconditional, and as such, there were no recorded contract assets. At December 31, 2020, the Company had $3.4 million in contract liabilities recorded, which is expected to be recognized during the next 12 months as manufacturing and research and development services are performed. At December 31, 2019, the Company had $0.3 million in contract liabilities recorded. Revenue recognized from contract liabilities as of December 31, 2019 during the year ended December 31, 2020 was $0.2 million.

(13) Revenue

Product Development and Licensing Revenue

The Company’s agreement with Rockefeller University, as amended, (the “Rockefeller Agreement”) provides for the Company to perform 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 first quarter of 2020. The Company is eligible to receive additional payments from Rockefeller University if this portfolio progresses through clinical and commercial development.

The Company entered into a clinical collaboration agreement with BMS in 2014 to evaluate the safety, tolerability and preliminary efficacy of varlilumab and Opdivo(R), BMS's PD-1 immune checkpoint inhibitor, in a Phase 1/2 study. Under this agreement, BMS made an upfront payment to Celldex of $5.0 million and provides funding for 50% of the external costs incurred by the Company in connection with the clinical trial. The performance obligations under the collaboration agreement consist of intellectual property licenses and the performance of research and development services. The Company determined that the performance obligations were not separately identifiable and were not distinct (and did not have standalone value) due to the specialized nature of the services to be provided, the dependent relationship between the performance obligations and the Company's proprietary technology that makes them uniquely qualified to perform the R&D services. Therefore, the Company concluded that the collaboration agreement has a single identified or combined performance obligation. As of December 31, 2020, deferred revenue related to the Company's remaining performance obligation under this arrangement was $0.0 million. The Company recorded $0.0 million, $0.2 million and $3.3 million in revenue related to this agreement during the years ended December 31, 2020, 2019 and 2018, respectively.

Contract and Grants Revenue

The Company has entered into the Rockefeller Agreement and agreements with Gilead Sciences and Duke University pursuant to which the Company performs manufacturing and research and development services on a time-and-materials basis or at a negotiated fixed-price. The Company recognized $4.5 million, $2.6 million and $3.2 million in revenue under these agreements during the years ended December 31, 2020, 2019 and 2018, respectively.

During the third quarter of 2020, the Company was awarded a Small Business Innovation Research (“SBIR”) grant from the National Institutes of Health (NIH) to support the Company’s CDX-1140 and CDX-301 programs. The Company recognized $0.4 million in grant revenue under the award during the year ended December 31, 2020.

Contract Assets and Liabilities

At December 31, 2020 and 2019, the Company’s right to consideration under all contracts was considered unconditional, and as such, there were no recorded contract assets. At December 31, 2020, the Company had $3.4 million in contract liabilities recorded, which is expected to be recognized during the next 12 months as manufacturing and research and development services are performed. At December 31, 2019, the Company had $0.3 million in contract liabilities recorded. Revenue recognized from contract liabilities as of December 31, 2019 during the year ended December 31, 2020 was $0.2 million.