Subsequent events

9 Months Ended

Sep. 30, 2017

Subsequent events

Subsequent events

12. Subsequent Events

In October 2017, the Company announced that Sanofi Genzyme decided not to exercise its option for the ex-U.S. rights to the Parkinson’s Program. Therefore, the Company now maintains global rights to VY-AADC. If the Company uses certain Sanofi Genzyme technology in VY-AADC, Sanofi Genzyme is entitled to receive low-single digit royalty payments based on a percentage of net sales by the Company and the Company may be obligated to make certain regulatory milestone payments to a third-party licensor.  As a result of Sanofi Genzyme’s decision, the Company is no longer entitled to receive the regulatory and commercial milestone payments related to the Parkinson’s Program.  

The amount of the arrangement consideration allocated to the Parkinson’s Program License Option and related deliverables was included in current deferred revenue as of September 30, 2017 and will be recognized as revenue at the time of their election not to exercise the option.