Composition of Other Balance Sheet Items

9 Months Ended

Sep. 30, 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 September 30, 2023 and December 31, 2022, the Company has reduced accounts receivable by approximately $10.8 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

	September 30, 2023		December 31, 2022
	(unaudited)
Raw materials	$	21,556	$	24,820
Work in process	26,966		31,710
Finished goods	34,958		35,011
Total	$	83,480	$	91,541

Property and Equipment

	September 30, 2023		December 31, 2022
	(unaudited)
Lab equipment and furniture	$	12,620	$	12,127
Leasehold improvements	14,023		14,023
Software	883		883
Computer equipment	1,078		983
Construction-in-progress	—		206
	28,604		28,222
Less accumulated depreciation and amortization	(14,916)		(13,049)
Property and equipment, net	$	13,688	$	15,173

Depreciation and amortization expense on property and equipment was approximately $0.6 million and $1.9 million for the three and nine months ended September 30, 2023, and approximately $0.8 million and $2.2 million for the three and nine months ended September 30, 2022, respectively.

Accounts Payable and Accrued Liabilities

	September 30, 2023		December 31, 2022
	(unaudited)
Accounts payable	$	3,389	$	10,543
Accrued compensation, benefits, & related accruals	19,025		16,963
Accrued sales & marketing	11,656		16,783
Accrued R&D expenses	9,659		7,490
Accrued manufacturing expenses	9,569		15,216
Accrued royalties (1)	8,852		12,022
Operating lease liabilities, current portion (2)	8,480		6,791
Other accrued expenses	7,841		10,534
Total	$	78,471	$	96,342

_______________________________

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

(2) Refer to Note 12, Leases.

Accrued Product Returns and Rebates

	September 30, 2023		December 31, 2022
	(unaudited)
Accrued product rebates	$	108,129	$	106,657
Accrued product returns	54,344		45,008
Total	$	162,473	$	151,665