Performance Obligation

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Method of Recognition

Exclusive license for vixarelimab

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Point in time; upon transfer of the license to Genentech, as control of the license was transferred on the Genentech Effective Date and Genentech could begin to use and benefit from the license on that date.

Initial drug supply delivery

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Point in time upon delivery.

Drug product resupply delivery

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Point in time upon delivery.

Completion of the phase 2b clinical trial for vixarelimab

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Over time; using the cost-to-cost input method, which is believed to best depict the transfer of control to the customer. Under the cost-to-cost input method, the percent of completion is based on the ratio of actual costs incurred as of the period end to the total estimated costs. Revenue is recorded as a percentage of the allocated transaction price times the percent of completion.