Subsequent events

12 Months Ended

Dec. 31, 2018

Subsequent events

Subsequent events

15. Subsequent events

Neurocrine Collaboration

In January 2019, the Company entered into a collaboration and license agreement with Neurocrine for the research, development and commercialization of four programs including the Company’s Parkinson’s disease program, the Company’s Friedreich’s ataxia program, and two programs to be determined by the Company and Neurocrine at a later date. Under the terms of the agreement, the Company will receive an upfront payment of $165.0 million, inclusive of $50.0 million for the sale of 4,179,728 shares of its common stock, funding of development costs under the Parkinson’s and Friedreich’s ataxi programs, and may receive future development and regulatory milestones and royalties.

AbbVie Alpha-Synuclein Collaboration

In February 2019, the Company entered into a separate collaboration agreement with AbbVie, the AbbVie Alpha-Synuclein Collaboration Agreement, for the research, development, and commercialization of AAV and other virus based gene therapy products directed against pathological species of alpha-synuclein for the potential treatment of Parkinson’s disease and other synucleinopathies. Under the terms of the AbbVie Alpha-Synuclein Collaboration Agreement, the Company will receive an upfront payment of $65.0 million and may receive option exercise payments, future regulatory and commercial milestone payments and royalties.