Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2018

Our revenue for the three and nine months ended September 30, 2018 was affected by adopting ASC 606 as follows (in thousands):

	Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018
Research and development revenue using guidance in effect prior to ASC 606	$	(872	)	$	(2,206	)
Impact of adoption of ASC 606		9,598			19,197
Research and development revenue	$	8,726		$	16,991

License revenue using guidance in effect prior to ASC 606	$	4,954		$	12,901
Impact of adoption of ASC 606		(3,039	)		(7,768	)
License revenue	$	1,915		$	5,133

Our contract assets and liabilities changed during the period, as follows (in thousands):

	Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018
Contract liability from the Amgen Agreement for the Co-Invest Option
Balance at beginning of period	$	6,250		$	18,750
Payments made for the Co-Invest Option		(6,250	)		(18,750	)
Balance at end of period	$	—		$	—

Contract asset from the 2016 Astellas Amendment
Balance at beginning of period	$	10,375		$	19,413
Reduction for services performed		(5,562	)		(12,865	)
Cash received in advance of services performed		1,063			(672	)
Balance at end of period	$	5,876		$	5,876

Contract liability from the 2014 Astellas Amendment
Balance at beginning of period	$	1,882		$	6,288
Reduction for services performed		(1,882	)		(6,288	)
Balance at end of period	$	—		$	—

The impact of adoption of ASC 606 on our net loss per share was as follows (in thousands):

	Three Months Ended September 30, 2018			Nine Months Ended September 30, 2018
Net loss per share using guidance in effect prior to ASC 606	$	(0.52	)	$	(1.68	)
Impact of adoption of ASC 606		0.12			0.21
Net loss per share	$	(0.40	)	$	(1.47	)