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Related Party Transactions
6 Months Ended
Jun. 30, 2022
Related Party Transactions [Abstract]  
Related Party Transactions

14. Related Party Transactions

As described in Note 11, in July 2021, the Company entered into the 2021 License Agreement with NHSc Pharma Partners (together with Société des Produits Nestlé S.A., “Nestlé”). NHSc Pharma Partners is an affiliate of one of the Company's significant stockholders, Société des Produits Nestlé S.A. During the three and six months ended June 30, 2022, the Company recognized $1,413 and $2,181, respectively, of related party revenue associated with the 2021 License Agreement. As of June 30, 2022 and December 31, 2021, there was $3,908 and $6,089 of deferred revenue related to the 2021 License Agreement, respectively, which is classified as current in the condensed consolidated balance sheets. As of June 30, 2022 and December 31, 2021 there was $33,062 and $31,683 included in accrued expenses and other liabilities related to the 2021 License Agreement. The Company made no payments to Nestlé during the three and six months ended June 30, 2022. There is no amount due from Nestlé as of June 30, 2022.

As described in Note 11, in January 2016, the Company entered into the 2016 License Agreement with Société des Produits Nestlé S.A. (successor in interest to Nestec, Ltd.) for the development and commercialization of certain product candidates in development for the treatment and management of CDI and IBD, including UC and Crohn’s disease. Société des Produits Nestlé S.A. is one of the Company's significant stockholders. During the three and six months ended June 30, 2022, the Company recognized ($197) and $528, respectively, of related party revenue associated with the 2016 License Agreement. As of June 30, 2022 and December 31, 2021 there was $97,200 and $97,728 of deferred revenue related to the 2016 License Agreement, which is classified as current or non-current in the condensed consolidated balance sheets. The Company has made no payments to Nestlé during the three and six months ended June 30, 2022. There was no amount due from Nestlé as of June 30, 2022.

As described in Note 9, the Company entered into a securities purchase agreement with Flagship, one of the Company's significant stockholders, for the sale of 8,738,243 shares of its common stock at a purchase price of $3.15 per share as part of the Registered Direct Offering, which closed on July 5, 2022. The Company received proceeds from Flagship of $27,525.

In July 2019, the Company entered into a sublease agreement with Flagship to sublease a portion of its office and laboratory space in Cambridge, Massachusetts. The term of the sublease agreement commenced in July 2019 and ended in November 2021. Under this agreement, the Company recorded other income of $464 and $925 during the three and six months ended June 30, 2021, respectively. The Company received cash payments of $464 and $925 during the three and six months ended June 30, 2021, respectively.