14.	CIRM Grant

On April 30, 2019, the Company announced the California Institute for Regenerative Medicine (“CIRM”) awarded Rocket up to a $6.5 million CLIN2 grant award to support the clinical development of gene therapy for LAD-I. Proceeds from the grant will help fund clinical trial costs as well as manufactured drug product for Phase I/II patients enrolled at the U.S. clinical site, University of California, Los Angeles (“UCLA”) Mattel Children’s Hospital, led by principal investigator Donald Kohn, M.D., UCLA Professor of Microbiology, Immunology and Molecular Genetics, Pediatrics (Hematology/Oncology), Molecular and Medical Pharmacology and member of the Eli and Edythe Broad Center of Regenerative Medicine and Stem Cell Research at UCLA. On July 1, 2019, the Company received the first cash advance from CIRM of $0.8 million. The CIRM grant receipts will be treated as an offset against R&D expenses as reimbursable expenses are incurred. As of June 30, 2019, the Company recorded a receivable and reduction of R&D expenses of $0.8 million for the reimbursable expenses incurred prior to June 30, 2019.