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Annual Report 2022

25. Deferred income

The movement in the non-current and current deferred income is detailed in the table below.

(thousands of €)

Total

Gilead collaboration agreement for filgotinib

Gilead collaboration agreement for drug discovery platform(1)

Other deferred income

On 1 January 2021

2,809,133

818,654

1,990,412

67

 

 

 

 

 

Upfront consideration

12,643

12,643

 

 

Significant financing component(2)

9,289

9,289

 

 

 

 

 

 

 

Revenue recognition of upfront

(433,884)

(203,301)

(230,582)

 

Revenue recognition of milestones

(32,408)

(32,408)

 

 

 

 

 

 

 

Other movements

(67)

 

 

(67)

 

 

 

 

 

On 31 December 2021

2,364,701

604,875

1,759,828

-

 

 

 

 

 

 

 

 

 

 

Milestones achieved

18,238

18,238

 

 

Significant financing component(2)

7,672

7,672

 

 

 

 

 

 

 

Revenue recognition of upfront

(370,078)

(139,655)

(230,423)

 

Revenue recognition of milestones

(34,777)

(34,777)

 

 

 

 

 

 

 

Other movements

3,474

 

 

3,474

 

 

 

 

 

On 31 December 2022

1,989,230

456,352

1,529,405

3,474

(1)

The upfront received and the outstanding balance at 31 December 2022 and at 31 December 2021 comprise the issuance liabilities for the warrants and the upfront payment allocated to the drug discovery platform.

(2)

With regard to the additional consideration received for the extended cost sharing for filgotinib, we assume the existence of a significant financing component reflecting the time value of money on the estimated recognition period.

We refer to note 6 for a detail of the allocation of the transaction price of our collaboration with Gilead.