Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Summary of Changes in Contract Liabilities

The following table presents changes in the Company’s contract liabilities during the three months ended March 31, 2018 (in thousands):

	Balance at Beginning of Period		Additions		Deductions			Balance at End of Period
Three months ended March 31, 2018
Contract liabilities:
Deferred revenue	$	59,868	$	1,000	$	(5,474	)	$	55,394

Summary of Revenues Recognized Resulting From Changes in Contract Liability Balance

During the three months ended March 31, 2018, the Company recognized the following revenues as a result of changes in the contract liability balance (in thousands):

Revenue recognized in the period from:	Three Months Ended March 31, 2018
Amounts included in the contract liability at the beginning of the period	$	5,474

Summary of Impact of Adoption to Consolidated Statement of Income and Balance Sheet

The following table shows the impact of adoption to our consolidated statement of income and balance sheet:

	Three Months Ended March 31, 2018
	Impact of changes in accounting policies
	As Reported			Balances without adoption of ASC 606			Effect of Change Higher/(Lower)
Collaboration revenue	$	7,469		$	7,674		$	(205	)
Operating loss		(22,430	)		(22,225	)		(205	)
Net loss	$	(21,356	)	$	(21,151	)	$	(205	)
Net loss per share, basic and diluted	$	(0.51	)	$	(0.50	)	$	(0.01	)
	March 31, 2018
	Impact of changes in accounting policies
	As Reported			Balances without adoption of ASC 606			Effect of Change Higher/(Lower)
Liabilities:
Deferred revenue - current	$	17,062		$	20,404		$	(3,342	)
Deferred revenue - noncurrent		38,332			40,216			(1,884	)
Stockholders' equity:
Accumulated deficit	$	(137,038	)	$	(142,264	)	$	5,226

Schedule of Adjustments to Consolidated Balance Sheet Due to Adoption of New Guidance

As a result of applying the modified retrospective method to adopt the new guidance, the following adjustments were made to accounts on the consolidated balance sheet as of January 1, 2018:

Consolidated Balance Sheet
	January 1, 2018 (in thousands)
	Pre-Adoption			ASC 606 Adjustment			Post-Adoption
Current portion of deferred revenue	$	21,188		$	(2,769	)	$	18,419
Deferred revenue, net of current portion		44,111			(2,662	)		41,449
Accumulated deficit		(121,113	)		5,431			(115,682	)