Quarterly report pursuant to Section 13 or 15(d)

Revenue (Tables)

v3.20.4
Revenue (Tables)
 6 Months Ended
Dec. 31, 2020
Revenues [Abstract]  
Summary of revenue from customers
 
    
Three Months Ended
     
Six Months Ended
  
Revenues from customers
   
December 31,
2020
     
December 31,
2019
     
December 31,
2020
     
December 31,
2019
  
Licensing revenue
    $ 1      $ 61      $ 56      $ 61  
Royalty revenue
      —          16        —          45  
Service revenue*
      —          —          —          4  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 1      $ 77      $ 56      $ 110  
    
 
 
     
 
 
     
 
 
     
 
 
  
 
  *
On July 9, 2018, the Company entered into a License and Collaboration Agreement with Axovant. The agreement granted Axovant an exclusive worldwide license to develop, manufacture, and commercialize products containing the Company’s product
BB-301,
which was designed for the potential treatment of Oculopharyngeal Muscular Dystrophy. Licensing revenue consists of the Company’s intellectual property related to
BB-301
and the transfer of the right to use the intellectual property of the Company’s
BB-301
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, we announced the termination of the agreement with Axovant. The termination of the agreement was effective as of September 3, 2019. The termination discharges all future performance obligations at termination date under the contract.
Summary of disaggregation of revenue
 
 
 
Three Months Ended December 31, 2020
 
Disaggregated revenue (US$’000)
 
Licensing
 
 
Royalties
 
 
Development activities
 
 
Total
 
Services transferred at a point in time
 
$
—  
 
 
$
—  
 
 
$
—  
 
 
$
 —  
 
Services transferred over time
 
 
1
 
 
 
—  
 
 
 
—  
 
 
 
1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
1
 
 
$
—  
 
 
$
—  
 
 
$
1
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six Months Ended December 31, 2020
 
Disaggregated revenue (US$’000)
 
Licensing
 
 
Royalties
 
 
Development activities
 
 
Total
 
Services transferred at a point in time
 
$
—  
 
 
$
—  
 
 
$
—  
 
 
$
 —  
 
Services transferred over time
 
 
56
 
 
 
—  
 
 
 
—  
 
 
 
56
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
56
 
 
$
—  
 
 
$
—  
 
 
$
56
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 31, 2019
 
Disaggregated revenue (US$’000)
 
Licensing
 
 
Royalties
 
 
Development activities
 
 
Total
 
Services transferred at a point in time
 
$
—  
 
 
$
—  
 
 
$
—  
 
 
$
 —  
 
Services transferred over time
 
 
61
 
 
 
16
 
 
 
—  
 
 
 
77
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
61
 
 
$
16
 
 
$
—  
 
 
$
77
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
 
 
Six Months Ended December 31, 2019
 
Disaggregated revenue (US$’000)
 
Licensing
 
 
Royalties
 
 
Development activities
 
 
Total
 
Services transferred at a point in time
 
$
—  
 
 
$
—  
 
 
$
4
 
 
$
4
 
Services transferred over time
 
 
61
 
 
 
45
 
 
 
—  
 
 
 
106
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
61
 
 
$
45
 
 
$
4
 
 
$
110