Collaboration and Profit-Sharing Agreements

6 Months Ended

Jun. 30, 2020

Collaboration and Profit-Sharing Agreements

Collaboration and Profit-Sharing Agreements

8. Collaboration and Profit-Sharing Agreements

The Company has entered into multiple collaborations, out-licenses and strategic alliances with third parties that typically involve payments to or from the Company, including up-front payments, payments for research and development services, option payments, milestone payments and royalty payments to or from the Company. The terms and conditions as well as the accounting analysis for the Company’s significant collaborations, out-licenses and strategic alliances are described in Note 9, “Collaboration and Profit-Sharing Agreements” to the consolidated financial statements included in the Annual Report. There have been no material changes to the terms and conditions, or the accounting conclusions previously disclosed in the Annual Report.

Collaboration Revenue

As of June 30, 2020, the Company’s contract liabilities were primarily related to the Company’s collaboration with Juno Therapeutics and its strategic alliance with Allergan. The following table presents changes in the Company’s accounts receivable and contract liabilities for the six months ended June 30, 2020 (in thousands):

For the six months ended June 30, 2020	Balance at December 31, 2019		Additions		Deductions		Balance at June 30, 2020
Accounts receivable	$	418	$	1,447	$		$	1,865
Contract liabilities:
Deferred revenue	$	186,721	$	508	$	(7,883)	$	179,346

During the three and six months ended June 30, 2020, the Company recognized the following collaboration revenue (in thousands):

	Three Months Ended		Six Months Ended
Revenue recognized in the period from:	June 30, 2020
Amounts included in deferred revenue at the beginning of the period	$	3,066	$	7,883
Performance obligations satisfied in previous periods	$	—	$	60