On July 9, 2018, the Company entered into a License and Collaboration Agreement with Axovant. Pursuant to the Agreement, the Company granted Axovant an exclusive worldwide license to develop, manufacture, and commercialize products containing the Company’s product known as which was designed for the potential treatment of Oculopharyngeal Muscular Dystrophy. Licensing revenue consists of payments for the Company’s intellectual property related to and the transfer of the right to use the intellectual property of the Company’s license to Axovant. Service revenue consists of payments for services provided to Axovant during the term of the license agreement signed in July 2018. On June 6, 2019, the termination of the License and Collaboration Agreement with Axovant was announced. The termination of the Agreement was effective as of September 3, 2019. The termination discharges all future performance obligations under the contract at the termination date.