License and Collaboration Agreements (Tables)

6 Months Ended

Jun. 30, 2015

Schedule of Revenue Recognized and Assets and Liabilities under Collaborative Arrangements

During the three and six months ended June 30, 2015, the Company recognized no revenue under the Sanofi Agreement. During the three and six months ended June 30, 2014, the Company recognized revenue based on the following components of the Sanofi Agreement:


(in thousands)	Three months ended June 30, 2014		Six months ended June 30, 2014
Upfront payment	$	13,268	$	14,518
Milestone payments		5,529		6,049
Development services		3,040		13,740
Manufacturing services and other		5,978		6,542

Total	$	27,815	$	40,849

As of June 30, 2015, the Company maintained no assets or liabilities related to the Sanofi Agreement. As of December 31, 2014, the Company maintained the following assets and liabilities related to the Sanofi Agreement:


(in thousands)	As of December 31, 2014
Accounts receivable, billed	$	369
Accounts receivable, unbilled		1,282
Deferred revenue		—

Baxalta [Member]

Schedule of Revenue Recognized and Assets and Liabilities under Collaborative Arrangements

During the three and six months ended June 30, 2015, the Company recognized revenue based on the following components of the Baxalta Agreement:


(in thousands)	Three months ended June 30, 2015		Six months ended June 30, 2015
Proportional Performance Model	$	16,558	$	31,399
Substantive Milestones		20,000		20,000

Total	$	36,558	$	51,399

As of June 30, 2015 and December 31, 2014, the Company maintained the following assets and liabilities related to the Baxalta Agreement:


(in thousands)	As of June 30, 2015		As of December 31, 2014
Accounts receivable, billed	$	807	$	—
Accounts receivable, unbilled		907		1,615
Deferred revenue	$	64,611	$	91,156