Composition of Other Balance Sheet Items

3 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Composition of Other Balance Sheet Items

Composition of Other Balance Sheet ItemsThe following details the composition of other balance sheet items (dollars in thousands for amounts in tables):

Accounts Receivables, Net

As of March 31, 2023 and December 31, 2022, the Company has reduced accounts receivable by approximately $12.2 million and $13.0 million, respectively. Prompt pay discount and contractual service fees, which were originally recorded as a reduction to revenues, represents estimated amounts not expected to be paid by our customers. The Company's customers are primarily pharmaceutical wholesalers and distributors and specialty pharmacies.

Inventories, Net

	March 31, 2023		December 31, 2022
	(unaudited)
Raw materials	$	22,917	$	24,820
Work in process	33,975		31,710
Finished goods	34,255		35,011
Total	$	91,147	$	91,541

Property and Equipment, Net

	March 31, 2023		December 31, 2022
	(unaudited)
Lab equipment and furniture	$	12,406	$	12,127
Leasehold improvements	14,023		14,023
Software	883		883
Computer equipment	983		983
Construction-in-progress	—		206
	28,295		28,222
Less accumulated depreciation and amortization	(13,684)		(13,049)
Property and equipment, net	$	14,611	$	15,173

Depreciation and amortization expense on property and equipment was approximately $0.6 million and $0.7 million for the three months ended March 31, 2023, and 2022, respectively. The Company retired certain fully depreciated property and equipment during the three months ended March 31, 2022.

Accounts Payable and Accrued Liabilities

	March 31, 2023		December 31, 2022
	(unaudited)
Accounts payable	$	11,544	$	10,543
Accrued sales & marketing	15,978		16,783
Accrued manufacturing expenses	14,943		15,216
Accrued compensation, benefits, & related accruals	14,433		16,963
Accrued royalties (1)	11,892		12,022
Accrued R&D expenses	8,158		7,490
Operating lease liabilities, current portion (2)	7,576		6,791
Other accrued expenses	10,821		10,534
Total	$	95,345	$	96,342

_______________________________

(1) Refer to Note 15, Commitments and Contingencies.

(2) Refer to Note 12, Leases.

Accrued Product Returns and Rebates

	March 31, 2023		December 31, 2022
	(unaudited)
Accrued product rebates	$	98,812	$	106,657
Accrued product returns	49,040		45,008
Total	$	147,852	$	151,665