XML 32 R22.htm IDEA: XBRL DOCUMENT v3.22.2.2
Interest Expense
9 Months Ended
Sep. 30, 2022
Other Income and Expenses [Abstract]  
Interest Expense Interest Expense
The following details the composition of interest expense (dollars in thousands):
Three Months Ended
September 30,
Nine Months Ended September 30,
2022202120222021
(unaudited)(unaudited)
Interest expense$(1,158)$(5,033)$(3,488)$(14,593)
Interest expense on nonrecourse liability related to sale of future royalties(566)(892)(1,988)(2,896)
Total$(1,724)$(5,925)$(5,476)$(17,489)
For the three and nine months ended September 30, 2022, interest expense includes noncash interest expense related to amortization of deferred financing costs of $0.5 million and $1.6 million. For the three and nine months ended September 30, 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 $4.4 million and $13.0 million. 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 and nine months ended September 30, 2022 significantly decreased compared to the three and nine months ended September 30, 2021 due to the Company no longer recording interest expense on the previously recorded discount for the embedded conversion feature on the 2023 Notes.