Other Financial Statement Information

12 Months Ended

Dec. 31, 2022

Other Financial Statement Information [Abstract]

Other Financial Statement Information

3. OTHER FINANCIAL STATEMENT INFORMATION

Prepaid Expense and Other Current Assets

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

	December 31, 2022		December 31, 2021
Prepaid clinical trial and drug manufacturing costs	$	8,487	$	320
Prepaid insurance		998		1,193
Prepaid equity financing costs		490		275
Prepaid rent		247		219
Prepaid audit fees		—		123
Prepaid recruiting fees		—		253
Other		823		480
Total prepaid expenses and other current assets	$	11,045	$	2,863

Accrued Expenses and Other Current Liabilities

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

	December 31, 2022		December 31, 2021
Accrued clinical and drug manufacturing expenses	$	4,334	$	364
Accrued payroll		3,217		1,458
Related party payable		2,780		1,022
Accrued legal fees		338		457
Accrued expenses and other		295		627
Accrued development milestone		—		2,000
Total accrued expenses and other current liabilities	$	10,964	$	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).