REVENUES

6 Months Ended

Jun. 30, 2020

REVENUES

REVENUES

NOTE 4 – REVENUES

The following table summarizes the Company’s disaggregation of revenues:

	Six Months Ended June 30
(U.S. dollars in thousands)	2020		2019
Pfizer	$	2,679	$	2,735
Brazil	$	6,000	$	4,225
Total revenues from selling goods	$	8,679	$	6,960
Revenues from license and R&D services	$	23,934	$	15,726

NOTE 4 – REVENUES (Continued)

During the six months ended June 30, 2020, the Company recorded revenue in the amount of $6.7 million following a change in estimate of the total costs expected to be incurred in the connection with the Chiesi Agreements.

On March 16, 2020, the Company agreed to conduct a feasibility study with Kirin Holdings Company, Limited (“Kirin”) to evaluate the production of a novel complex protein utilizing ProCellEx^®, the Company’s proprietary plant cell-based protein expression system. Kirin will bear the costs of conducting cell line engineering and protein expression studies on the target protein. In addition, the contract provides Kirin with an option to a future service for which the Company received a non-refundable payment in the amount of $1.0 million. The Company will recognize such amount as revenues when the aforementioned future services are performed or when the option expires.