Certain Balance Sheet Accounts

6 Months Ended

Jun. 30, 2022

Certain Balance Sheet Accounts

Certain Balance Sheet Accounts

Note 5—Certain Balance Sheet Accounts

OMIDRIA Contract Royalty Asset

OMIDRIA contract royalty asset consists of the following:

	June 30,		December 31,
	2022		2021
	(In thousands)
Short-term contract royalty asset	$	43,794	$	44,319
Long-term contract royalty asset		126,812		140,251
Total OMIDRIA contract royalty asset	$	170,606	$	184,570

Receivables, net

Receivables, net consists of the following:

	June 30,		December 31,
	2022		2021
	(In thousands)
Royalty and trade receivables, net	$	13,669	$	36,505
Sublease and other receivables		810		1,650
Total receivables, net	$	14,479	$	38,155

Trade receivables are net of product return and chargeback allowances. Product returns and chargeback allowances were $2.0 million as of December 31, 2021.

Property and Equipment, Net

Property and equipment, net consists of the following:

	June 30,		December 31,
	2022		2021
	(In thousands)
Finance leases	$	6,537	$	5,979
Laboratory equipment		3,123		3,091
Computer equipment		1,076		1,069
Office equipment and furniture		625		625
Total cost		11,361		10,764
Less accumulated depreciation and amortization		(9,440)		(9,033)
Total property and equipment, net	$	1,921	$	1,731

For the three months ended June 30, 2022 and 2021, depreciation and amortization expense was $0.2 million and $0.4 million, respectively. For the six months ended June 30, 2022 and 2021, depreciation and amortization expense was $0.5 million and $0.7 million, respectively.

Accrued Expenses

Accrued expenses consists of the following:

	June 30,		December 31,
	2022		2021
	(In thousands)
Employee compensation	$	6,017	$	3,706
Interest payable		5,172		5,172
Clinical trials		4,573		2,430
Consulting and professional fees		3,179		7,455
Contract research and development		2,889		3,916
Sales rebates, fees and discounts		255		8,442
Other accrued expenses		1,395		2,013
Total accrued expenses	$	23,480	$	33,134