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Disposition of a Business
6 Months Ended
Jun. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]  
Disposition of a Business

12. Disposition of a Business

On May 28, 2021, the Company sold the assets related to OTIPRIO to ALK for an upfront payment of $0.8 million and additional potential amounts based on net sales of OTIPRIO for a specified period of time. The transaction was treated as a sale of a business. The contingent value of the remaining sale price will be measured and recognized in accordance with the gain contingency guidance which results in recognition when the gain is realized or realizable. The Company determined that the disposition of the business did not constitute a strategic shift and that it did not and will not have a major effect on its operations and financial results. Accordingly, the operations associated with the disposition are not reported in discontinued operations. The gain on sale of approximately $23,000 after accounting for liabilities transferred upon sale and the carrying amount of assets sold is recorded to selling, general and administrative expenses.