Interest Expense

3 Months Ended

Mar. 31, 2022

Other Income and Expenses [Abstract]

Interest Expense

Interest Expense

The following details the composition of interest expense (dollars in thousands):

	Three Months ended March 31,
	2022		2021
	(unaudited)
Interest expense	$	(1,155)	$	(5,062)
Interest expense on nonrecourse liability related to sale of future royalties	(787)		(1,035)
Total	$	(1,942)	$	(6,097)

As discussed in Note 2, Summary of Significant Accounting Policies, the Company adopted ASU 2020-06 on January 1, 2022. As a result, interest expense for the three months ended March 31, 2022 significantly decreased compared to the three months ended March 31, 2021 due to the Company no longer recording interest expense on the previously recorded discount for the embedded conversion feature on the 2023 Notes. For the three months ended March 31, 2022, interest expense includes noncash interest expense related to amortization of deferred financing costs of $0.5 million. For the three months ended March 31, 2021, interest expense includes noncash interest expense related to amortization of deferred financing costs and amortization of the debt discount on the 2023 Notes of $4.3 million.