Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Summary of Minimum Significant Contractual Obligations

	Payments due by period (1) (3)
(In thousands)	Total		Less than 1 year		1-3 years		4-5 years
Convertible Senior Notes (2)	$	243,260	$	12,420	$	230,840	$	—
Operating leases (4)		13,439		8,354		2,468		2,617
Inventory purchase commitments (5) (6)		100,594		27,094		37,500		36,000
Total		357,293		47,868		270,808		38,617

(1) Excludes a liability for uncertain tax positions totaling $6.4 million. This liability has been excluded because the Company cannot currently make a reliable estimate of the period in which the liability will be payable, if ever.

(2) Represents the future payments of principal and interest to be made on the convertible senior secured notes due 2024 issued in December 2019. The notes will mature and will be payable on  December 31, 2024. Refer to Note 9.

(3) Excludes a liability for the non-convertible capital loans totaling $27.6 million. The non-convertible capital loans have a stated maturity of less than one year. However, the repayment of the non-convertible capital loans and payment of accrued interest thereon are governed by a restrictive condition, according to which the loan principal may only be repaid if Biotie’s consolidated restricted equity is fully covered. Accrued interest may only be paid if Biotie, including its subsidiaries, has sufficient funds for profit distribution as of the most recently ended fiscal year. Interest accrues in the interim. This liability has been excluded because the Company cannot currently make a reliable estimate of the period in which the liability will be payable, if ever.

(4) Represents payments for the operating leases of the Company’s Ardsley, NY headquarters, the Company’s lab and office space in Waltham, MA, and excludes field auto leases which are for a one year term. Refer to Note 3.

(5) Represents Ampyra and Inbrija inventory purchase commitments. The Ampyra inventory commitment is an estimate as the price paid for Ampyra inventory is based on a percentage of the net product sales during the quarter Alkermes ships inventory to the Company. Under the Company’s supply agreement with Alkermes, it provides Alkermes with monthly written 18-month forecasts, and with annual written five-year forecasts for the Company’s supply requirements of Ampyra. In each of the three months for Ampyra following the submission of its written 18-month forecast the Company is obligated to purchase the quantity specified in the forecast, even if its actual requirements are greater or less. The Company has agreed to purchase at least 75% of its annual requirements of Ampyra from Alkermes, unless Alkermes is unable or unwilling to meet its requirements, for a percentage of net product sales and the quantity of product shipped by Alkermes to the Company.

(6) Represents minimum purchase commitment from Catalent for Inbrija under the manufacturing services (supply) agreement. An amendment to the agreement has been signed by the parties for the period July 1, 2021 through June 30, 2022, which eliminates the minimum purchase obligation by Acorda and states that payment shall only be required upon successful production and delivery of Inbrija by Catalent. The maximum payment amount Acorda shall be obligated to pay upon receipt of Inbrija product is $23.2 million less any payments previously made in 2021. Additionally, pursuant to the amendment, Acorda agreed that it would reimburse a portion of Catalent’s costs in completing the installation and qualification of a larger size 7 spray dryer at the Chelsea manufacturing facility, which Acorda believes will be beneficial to its future production needs, in the amount of $1.5 million. This amount will be paid quarterly over a one-year period commencing no sooner than January 1, 2024.