Quarterly report pursuant to Section 13 or 15(d)

Other Revenue

Other Revenue
6 Months Ended
Jun. 30, 2021
Other Revenue [Abstract]  
Other revenue

Note 4 - Other revenue


The Company determined that certain collaborations with a third-party are within the scope of ASC 606. The collaboration agreement is made up of multiple modules related to various research activities. The Company identified a single performance obligation to provide research services within each module for which the Company receives monetary consideration. The third-party can choose to proceed with each module or can terminate the agreement at any time. The Company recognizes revenue for each module on a straight-line basis over the expected module period. Revenue for succeeding modules is not recognized until all contingencies are resolved, inclusive of the third-party’s ability to terminate the module. The consideration is recognized to revenue over each module and revenue recognized during the three months and six months ended June 30, 2021 was $0.3 million and $0.9 million, respectively.