Other Financial Statement Information

9 Months Ended

Sep. 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):

	September 30, 2022		December 31, 2021
Prepaid clinical trial and drug manufacturing costs	$	7,162	$	320
Prepaid insurance		1,629		1,193
Prepaid equity financing costs		483		275
Prepaid rent		241		219
Prepaid audit fees		200		123
Prepaid recruiting fees		55		253
Other		792		480
Total prepaid expenses and other current assets	$	10,562	$	2,863

Accrued Expenses and Other Current Liabilities

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

	September 30, 2022		December 31, 2021
Accrued clinical and drug manufacturing expenses	$	2,536	$	364
Accrued payroll		2,047		1,458
Related party payable		1,004		1,022
Accrued legal fees		239		457
Accrued recruiting fees		219		—
Accrued expenses and other		174		627
Accrued development milestone		—		2,000
Total accrued expenses and other current liabilities	$	6,219	$	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).