Subsequent Events	6 Months Ended
Jun. 30, 2020
Subsequent Events
Subsequent Events	11. Subsequent Events On August 5, 2020, the Company and Allergan Pharmaceuticals International Limited (which was acquired by AbbVie, Inc. in May 2020 and is referred to together with its affiliates as “Allergan”) agreed to terminate the strategic alliance and option agreement that was entered into in May 2017 and the profit-sharing arrangement to equally split U.S profit and losses of EDIT-101, an experimental medicine for Leber congenital amaurosis 10 (“LCA10”) that was originally licensed to Allergan under the strategic alliance and option agreement (the “Termination Agreement”). In addition, in connection with the termination, the Company entered into a transition services agreement with Allergan (together with the Termination Agreement, the “Termination Agreements”), primarily to facilitate the transfer of EDIT-101 back to the Company. Pursuant to the Termination Agreements, the Company has regained full global rights to research, develop, manufacture, and commercialize its ocular medicines, including EDIT-101. Allergan has no further obligations pursuant to the initial agreements, all unexercised options and contingent payments contemplated under the initial agreements have terminated, which includes their worldwide developmental and commercialization rights of EDIT-101. Under the Termination Agreements, Allergan granted the Company a non-exclusive license to certain know-how that is necessary to develop, manufacture and commercialize EDIT-101 and will transfer to the Company certain materials produced under the initial agreement. The Company expects the transition services to be completed within four months. Pursuant to the Termination Agreements, the Company will continue to use commercially reasonable efforts to develop and commercialize a product directed at four collaboration targets, one of which is LCA10. The Termination Agreements also obligate the Company to make a payment to Allergan, as well as certain payments based on the achievement of clinical and regulatory milestones for each target program, aggregated sales milestones for all products covered by the Termination Agreement, and pay royalties on net sales of specified products. The Company is also obligated to pay for a portion of the transition services.

Subsequent Events

6 Months Ended

Jun. 30, 2020

11. Subsequent Events

On August 5, 2020, the Company and Allergan Pharmaceuticals International Limited (which was acquired by AbbVie, Inc. in May 2020 and is referred to together with its affiliates as “Allergan”) agreed to terminate the strategic alliance and option agreement that was entered into in May 2017 and the profit-sharing arrangement to equally split U.S profit and losses of EDIT-101, an experimental medicine for Leber congenital amaurosis 10 (“LCA10”) that was originally licensed to Allergan under the strategic alliance and option agreement (the “Termination Agreement”). In addition, in connection with the termination, the Company entered into a transition services agreement with Allergan (together with the Termination Agreement, the “Termination Agreements”), primarily to facilitate the transfer of EDIT-101 back to the Company.

Pursuant to the Termination Agreements, the Company has regained full global rights to research, develop, manufacture, and commercialize its ocular medicines, including EDIT-101. Allergan has no further obligations pursuant to the initial agreements, all unexercised options and contingent payments contemplated under the initial agreements have terminated, which includes their worldwide developmental and commercialization rights of EDIT-101. Under the Termination Agreements, Allergan granted the Company a non-exclusive license to certain know-how that is necessary to develop, manufacture and commercialize EDIT-101 and will transfer to the Company certain materials produced under the initial agreement. The Company expects the transition services to be completed within four months.

Pursuant to the Termination Agreements, the Company will continue to use commercially reasonable efforts to develop and commercialize a product directed at four collaboration targets, one of which is LCA10. The Termination Agreements also obligate the Company to make a payment to Allergan, as well as certain payments based on the achievement of clinical and regulatory milestones for each target program, aggregated sales milestones for all products covered by the Termination Agreement, and pay royalties on net sales of specified products. The Company is also obligated to pay for a portion of the transition services.