License and Collaboration Agreements (Tables)

9 Months Ended

Sep. 30, 2015

Schedule of Revenue Recognized and Assets and Liabilities under Collaborative Arrangements

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


	Three months ended September 30,		Nine months ended September 30,
(in thousands)	2014		2014
Upfront payment	$	13,415	$	27,933
Milestone payments		5,590		11,639
Development services		2,953		16,694
Manufacturing services and other		6,044		12,585

Total	$	28,002	$	68,851

As of September 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:


	As of
(in thousands)	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 nine months ended September 30, 2015, the Company recognized revenue based on the following components of the Baxalta Agreement:


	Three months ended September 30,		Nine months ended September 30,
(in thousands)	2015		2015
Proportional performance model	$	16,440	$	47,839
Substantive milestones		—		20,000

Total	$	16,440	$	67,839

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


	As of		As of
(in thousands)	September 30, 2015		December 31, 2014
Accounts receivable, billed	$	1,125	$	—
Accounts receivable, unbilled		840		1,615
Deferred revenue		65,136		91,156