Related Parties	9 Months Ended
Sep. 30, 2020
Related Party Transactions [Abstract]
Related Parties	Note 11. Related parties Relationship and transactions with Gilead Sciences, Inc. (Gilead) As of September 30, 2020, Gilead held approximately 13% of the Company’s outstanding common stock, and 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 the next five years. Gilead also has the right under the Investor Rights Agreement to designate two individuals to be appointed to the Company’s board of directors. In July 2020, in accordance with Gilead’s right, the Company appointed the first Gilead designee, Merdad Parsey, M.D., Ph.D., to its board of directors. At September 30, 2020, the Company had a $2.5 million cost sharing receivable recorded on the condensed consolidated balance sheets under receivable from collaboration partners, to be invoiced the following quarter. The Company also had $193.1 million in deferred revenue at September 30, 2020, of which $84.5 million represented the long-term portion of revenue allocated to Gilead’s access rights to the Company’s research and development pipeline and was recorded in deferred revenue, noncurrent on the condensed consolidated balance sheets. The Company also recognized $9.2 million in contract liabilities for future development and promotion costs which Gilead prepaid, of which $1.9 million and $7.3 million represented the short and long-term portions of the liability, recorded in other current liabilities and other long-term liabilities on the condensed consolidated balance sheets, respectively. For the three and nine months ended September 30, 2020, the Company recognized $62.8 million in revenue under the Gilead Collaboration Agreement. The Company also recognized a $3.0 million reduction in research and development expense related to its cost-sharing provisions of the agreement, of which $2.5 million relates to the ongoing collaboration over zimberelimab and $0.5 million relates to the development and commercialization activities performance obligation. The Company received $175 million in upfront payments from Gilead in connection with the Option, License and Collaboration Agreement and identified $100 million in unconstrained consideration to be received in 2022. In addition, the Company received $200 million from Gilead in connection with the Stock Purchase Agreement, of which approximately $109.4 million represented the fair value of stock purchased at the transaction closing date in July 2020 with the remaining premium of $90.6 million allocated to the transaction price.

Related Parties

9 Months Ended

Sep. 30, 2020

Note 11. Related parties

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

As of September 30, 2020, Gilead held approximately 13% of the Company’s outstanding common stock, and 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 the next five years. Gilead also has the right under the Investor Rights Agreement to designate two individuals to be appointed to the Company’s board of directors. In July 2020, in accordance with Gilead’s right, the Company appointed the first Gilead designee, Merdad Parsey, M.D., Ph.D., to its board of directors.

At September 30, 2020, the Company had a $2.5 million cost sharing receivable recorded on the condensed consolidated balance sheets under receivable from collaboration partners, to be invoiced the following quarter. The Company also had $193.1 million in deferred revenue at September 30, 2020, of which $84.5 million represented the long-term portion of revenue allocated to Gilead’s access rights to the Company’s research and development pipeline and was recorded in deferred revenue, noncurrent on the condensed consolidated balance sheets. The Company also recognized $9.2 million in contract liabilities for future development and promotion costs which Gilead prepaid, of which $1.9 million and $7.3 million represented the short and long-term portions of the liability, recorded in other current liabilities and other long-term liabilities on the condensed consolidated balance sheets, respectively.

For the three and nine months ended September 30, 2020, the Company recognized $62.8 million in revenue under the Gilead Collaboration Agreement. The Company also recognized a $3.0 million reduction in research and development expense related to its cost-sharing provisions of the agreement, of which $2.5 million relates to the ongoing collaboration over zimberelimab and $0.5 million relates to the development and commercialization activities performance obligation.

The Company received $175 million in upfront payments from Gilead in connection with the Option, License and Collaboration Agreement and identified $100 million in unconstrained consideration to be received in 2022. In addition, the Company received $200 million from Gilead in connection with the Stock Purchase Agreement, of which approximately $109.4 million represented the fair value of stock purchased at the transaction closing date in July 2020 with the remaining premium of $90.6 million allocated to the transaction price.