Other Financial Statement Information

6 Months Ended

Jun. 30, 2022

Other Financial Statement Information [Abstract]

Other Financial Statement Information

3. OTHER FINANCIAL STATEMENT INFORMATION

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in thousands):

	June 30, 2022		December 31, 2021
Prepaid clinical and drug manufacturing costs	$	6,718	$	320
Prepaid insurance		2,260		1,193
Prepaid equity financing costs		296		275
Prepaid rent		219		219
Prepaid recruiting fees		106		253
Prepaid audit fees		35		123
Other		776		480
Total prepaid expenses and other current assets	$	10,410	$	2,863

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following (in thousands):

	June 30, 2022		December 31, 2021
Accrued clinical and drug manufacturing expenses	$	2,454	$	364
Accrued development milestone		2,000		2,000
Related party payable		1,696		1,022
Accrued payroll		1,223		1,458
Accrued legal fees		176		457
Accrued expenses and other		196		627
Total accrued expenses and other current liabilities	$	7,745	$	5,928

Related party payable represents amounts due to Ares Trading S.A. (Ares), an affiliate of Merck KGaA, Darmstadt, Germany, related to manufacturing technology and know-how transfer services performed for atacicept pursuant to the license agreement between the Company and Ares (see Note 12).