Collaboration and License Agreements (Tables)

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Contract Assets and Liabilities and Changes in Contract Balances

The following table presents the contract assets and liabilities for all of the Company’s revenue contracts as of the following dates (in thousands):

	March 31,			December 31,
	2018			2017
Contract asset:
Accounts receivable	$	1,698		$	51,090
Contract liability:
Deferred revenue (1)		(143,551	)		(95,159	)

(1) Upon adoption of ASC 606 under the modified retrospective transition method, the Company recognized the cumulative effect of initially applying the new revenue standard of $47.3 million as an adjustment to the opening balance of accumulated deficit and an increase in deferred revenue. See “Note 2. Summary of Significant Accounting Policies – Revenue Recognition” for a detailed discussion.

During the three months ended March 31, 2018, the Company recognized the following revenue as a result of changes in the contract asset and the contract liability balances (in thousands):

	Three Months Ended March 31, 2018
Revenue recognized in the period from:
Amount included in contract liability at the beginning of the period	$	8,938