Certain Balance Sheet Accounts

9 Months Ended

Sep. 30, 2022

Certain Balance Sheet Accounts

Certain Balance Sheet Accounts

Note 5—Certain Balance Sheet Accounts

OMIDRIA Contract Royalty Asset

The OMIDRIA contract royalty asset consists of the following:

	September 30,		December 31,
	2022		2021
	(In thousands)
Short-term contract royalty asset	$	47,744	$	44,319
Long-term contract royalty asset		143,641		140,251
Total OMIDRIA contract royalty asset	$	191,385	$	184,570

Receivables, net

Receivables, net consists of the following:

	September 30,		December 31,
	2022		2021
	(In thousands)
Royalty and trade receivables, net	$	13,113	$	36,505
Sublease and other receivables		741		1,650
Total receivables, net	$	13,854	$	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:

	September 30,		December 31,
	2022		2021
	(In thousands)
Finance leases	$	6,785	$	5,979
Laboratory equipment		3,121		3,091
Computer equipment		1,076		1,069
Office equipment and furniture		625		625
Total cost		11,607		10,764
Less accumulated depreciation and amortization		(9,760)		(9,033)
Total property and equipment, net	$	1,847	$	1,731

For each of the three months ended September 30, 2022 and September 30, 2021, depreciation and amortization expense was $0.3 million. For the nine months ended September 30, 2022 and September 30, 2021, depreciation and amortization expense was $0.8 million and $1.1 million, respectively.

Accrued Expenses

Accrued expenses consists of the following:

	September 30,		December 31,
	2022		2021
	(In thousands)
Clinical trials	$	4,958	$	2,430
Interest payable		3,703		5,172
Employee compensation		3,704		3,706
Contract research and development		2,639		3,916
Consulting and professional fees		2,338		7,455
Sales rebates, fees and discounts		—		8,442
Other accrued expenses		674		2,013
Total accrued expenses	$	18,016	$	33,134