License and Collaboration Agreements (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule Of License and Royalty Revenue

License and royalty revenue consisted of the following (in thousands):

	Years Ended December 31,
	2022		2021		2020
Zolgensma royalties	$	101,919	$	94,978	$	61,631
Achievement of sales-based milestone for Zolgensma		—		—		80,000
AbbVie collaboration and license agreement		—		370,000		—
Other license and royalty revenue		10,805		5,369		12,936
Total license and royalty revenue	$	112,724	$	470,347	$	154,567

Summary of Balances of Receivables, Contract Assets and Deferred Revenue

The following table presents the balances of the Company’s net accounts receivable, contract assets and deferred revenue, as well as other information regarding revenue recognized, during the periods presented (in thousands):

	Years Ended December 31,
	2022		2021		2020
Accounts receivable, net, current and non-current:
Beginning of period	$	34,701	$	46,266	$	42,303
End of period	$	29,586	$	34,701	$	46,266
Contract assets:
Beginning of period	$	1,074	$	350	$	—
End of period	$	—	$	1,074	$	350
Deferred revenue, current and non-current:
Beginning of period	$	3,333	$	4,232	$	3,333
End of period	$	1,829	$	3,333	$	4,232
Revenue recognized during the period from:
Amounts included in deferred revenue at beginning of period	$	3,333	$	390	$	—
Performance obligations satisfied in previous periods	$	101,921	$	98,575	$	146,772

Summary of Accounts Receivables, net

Accounts receivable, net consisted of the following (in thousands):

	As of December 31,
	2022			2021
Current accounts receivable:
Billed to customers	$	280		$	365
Unbilled Zolgensma royalties		27,027			26,418
Due from Abeona		—			5,000
Other unbilled		775			656
Allowance for credit losses		—			—
Current accounts receivable, net		28,082			32,439
Non-current accounts receivable:
Due from Abeona, net of present value discount		4,152			3,758
Other unbilled		1,504			2,262
Allowance for credit losses		(4,152	)		(3,758	)
Non-current accounts receivable, net		1,504			2,262
Total accounts receivable, net	$	29,586		$	34,701

Summary of Changes in Allowance For Credit Losses

The following table presents the changes in the allowance for credit losses related to accounts receivable and contract assets for the years ended December 31, 2022 and 2021 (in thousands):

	Allowance for Credit Losses
	Accounts Receivable			Contract Assets
Balance at December 31, 2020	$	7,678		$	—
Provision for credit losses (recoveries)		(2,569	)		—
Changes in present value discount of receivables		(1,243	)		—
Write-offs		(108	)		—
Balance at December 31, 2021	$	3,758		$	—
Changes in present value discount of receivables		394			—
Balance at December 31, 2022	$	4,152		$	—

Schedule of AbbVie Collaboration Agreement

The Company recognized the following amounts under the AbbVie Collaboration Agreement (in thousands):

	Years Ended December 31,
	2022			2021
License and royalty revenue	$	—		$	370,000
Net cost reimbursement to (from) AbbVie included in:
Research and development expense	$	(19,294	)	$	(5,866	)
General and administrative expense		1,531			—
Total net cost reimbursement to (from) AbbVie	$	(17,763	)	$	(5,866	)