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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

17. SUBSEQUENT EVENTS

In August 2018, the Company entered into a License, Development and Option Agreement (the “License Agreement”) and an Equity Investment Agreement with Lacerta Therapeutics, Inc. (“Lacerta”). The Company will in-license one of Lacerta’s preclinical programs (the “License”) and has options to in-license additional programs (the “Options”) for additional consideration. In connection with the closing of these transactions, the Company will make an equity investment of $30 million and an up-front payment of $8 million to Lacerta in consideration of the License and the Options. Under the License Agreement, the Company may be liable for additional payments relating to development and commercialization milestones and a high single digit royalty upon commercialization of the product. If the Company decides to exercise the Options to in-license additional programs, it may be liable for additional payments relating to development and commercialization milestones and tiered high single digit royalties upon commercialization of the products.