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Agreement with Eli Lilly and Company
6 Months Ended
Jun. 30, 2020
Agreement with Eli Lilly and Company  
Agreement with Eli Lilly and Company

6. Agreement with Eli Lilly and Company 

On November 2, 2018, the Company entered into a multi-year research and development collaboration agreement (the “Lilly Agreement”) with Eli Lilly and Company (“Lilly”), pursuant to which the Company agreed to use its proprietary FIND-IO platform to identify novel oncology targets for additional collaborative research and drug discovery by the Company and Lilly. Effective March 3, 2020, Lilly, terminated the Lilly Agreement without cause. 

The Company recognized revenue under the Lilly Agreement of $ 0 million and $22.4 million for the three and six months ended June 30, 2020, respectively, and $1.4 million and $2.8 million for the three and six months ended June 30, 2019, respectively. Effective with the termination of the agreement, no further quarterly research and development support payments are payable to the Company.