Related Parties	12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]
Related Parties	Note 14. Related parties Relationship and transactions with Gilead Sciences, Inc. (Gilead) As of December 31, 2021, Gilead held approximately 19.5% of the Company’s outstanding common stock. These holdings resulted from a combination of Gilead’s participation in the May 2020 public offering as well as purchases of stock under the stock purchase agreement. In the May 2020 public offering, Gilead purchased 2,200,000 shares of common stock for an amount of $56.7 million, net of offering costs. Under the stock purchase agreement (as amended and restated), Gilead purchased 5,963,029 and 5,650,000 shares in July 2020 and February 2021, respectively, for a total investment of $327.8 million, net of offering costs and amounts allocated to the performance obligations created by the Gilead Collaboration Agreement. Gilead has the right, at its option, to purchase up to a maximum of 35% of the Company’s then-outstanding voting common stock, from time to time over five years from the closing of the initial transaction. Pursuant to the Investor Rights Agreement, the Company appointed Gilead's two designees to the Company's Board of Directors. See Note 8 for further discussion of the agreements with Gilead. At December 31, 2021, the Company had a receivable for option exercise payments totaling $725 million and a $19.5 million cost sharing receivable recorded on the consolidated balance sheets under receivable from collaboration partners. The $725 million option exercise payments were received in January 2022. The Company also had $97.0 million in deferred revenue, current and $462.2 million in deferred revenue, noncurrent recorded on its consolidated balance sheets at December 31, 2021. For the years ended December 31, 2021 and 2020, the Company recognized $360.9 million and $70.5 million, respectively, in revenue under the Gilead Collaboration Agreement. The Company also recognized reductions in research and development expense of $24.9 million and $3.4 million for each period, related to reimbursements under the cost-sharing provisions of the agreement.

Related Parties

12 Months Ended

Dec. 31, 2021

Note 14. Related parties

Relationship and transactions with Gilead Sciences, Inc. (Gilead)

As of December 31, 2021, Gilead held approximately 19.5% of the Company’s outstanding common stock. These holdings resulted from a combination of Gilead’s participation in the May 2020 public offering as well as purchases of stock under the stock purchase agreement. In the May 2020 public offering, Gilead purchased 2,200,000 shares of common stock for an amount of $56.7 million, net of offering costs. Under the stock purchase agreement (as amended and restated), Gilead purchased 5,963,029 and 5,650,000 shares in July 2020 and February 2021,

respectively, for a total investment of $327.8 million, net of offering costs and amounts allocated to the performance obligations created by the Gilead Collaboration Agreement. Gilead has the right, at its option, to purchase up to a maximum of 35% of the Company’s then-outstanding voting common stock, from time to time over five years from the closing of the initial transaction. Pursuant to the Investor Rights Agreement, the Company appointed Gilead's two designees to the Company's Board of Directors. See Note 8 for further discussion of the agreements with Gilead.

At December 31, 2021, the Company had a receivable for option exercise payments totaling $725 million and a $19.5 million cost sharing receivable recorded on the consolidated balance sheets under receivable from collaboration partners. The $725 million option exercise payments were received in January 2022. The Company also had $97.0 million in deferred revenue, current and $462.2 million in deferred revenue, noncurrent recorded on its consolidated balance sheets at December 31, 2021.

For the years ended December 31, 2021 and 2020, the Company recognized $360.9 million and $70.5 million, respectively, in revenue under the Gilead Collaboration Agreement. The Company also recognized reductions in research and development expense of $24.9 million and $3.4 million for each period, related to reimbursements under the cost-sharing provisions of the agreement.