Related party transactions

9 Months Ended

Sep. 30, 2016

Related party transactions

Related party transactions

11. Related‑Party Transactions

During the three and nine months ended September 30, 2016 and September 30, 2015, the Company received consulting and management services from one of its investors. The total amount of consulting and management services provided by this investor was approximately $19,000 and $35,000 during the three and nine months ended September 30, 2016, respectively. The total amount of services provided by this investor was approximately $6,000 and $115,000 during the three and nine months ended September 30, 2015, respectively. As of September 30, 2016, the Company had a balance of $19,000 in accounts payable related to consulting and management service fees charged by this investor.

During the three and nine months ended September 30, 2016, the Company recognized $3,308,000 and $11,858,000, respectively, of revenue associated with the Collaboration Agreement related to research and development services provided during this period. During the three and nine months ended September 30, 2015, the Company recognized $4,937,000 and $12,397,000, respectively, of revenue associated with the Collaboration Agreement related to research and development services provided during the period. The Company also recognized $236,000 and $989,000 of expense during the three and nine months ended September 30, 2016, respectively, related to in‑kind services provided by Genzyme associated with the Collaboration Agreement. The Company recognized $125,000 and $2,190,000 of expense during the three and nine months ended September 30, 2015, respectively, related to in-kind services provided by Genzyme under the Collaboration Agreement.