Related-Party Transactions

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

Related-Party Transactions

Related-Party Transactions

In September 2021, the Company entered into a sublease with Sonoma, with whom the Company has common stockholders with board seats. As a part of the sublease, a $4.6 million tenant improvement contribution payment was made by Sonoma, which will be recognized over the term of the sublease. As of December 31, 2021, accrued liabilities and other current liabilities of $0.5 million and other non-current liabilities of $4.0 million were in connection with the sublease with Sonoma. Income of $1.8 million was recognized in other operating income, net for the year ended December 31, 2021. See Note 9, Leases, for more detail on the Sonoma sublease.

The Company is party to the GSK Agreement, who is a holder of more than 10% of the Company’s equity. See Note 3, Collaboration, License and Success Payment Agreements. Deferred revenue of $5.0 million and $6.1 million as of December 31, 2021 and 2020, respectively, and deferred revenue, net of current portion of $79.7 million and $89.1 million as of December 31, 2021 and 2020, respectively, were in connection with the GSK Agreement. Revenue recognized in connection with the GSK agreement was $10.5 million, $7.8 million and $0.7 million for the years ended December 31, 2021, 2020 and 2019, respectively.

In March 2020, the Company repurchased 546,806 shares of its Series A convertible preferred stock and 2,032,166 shares of its common stock from a related party. See Note 10, Convertible Preferred Stock and Note 11, Stockholders’ Equity (Deficit).