Other Financial Statement Information

12 Months Ended

Dec. 31, 2023

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).

	December 31, 2023		December 31, 2022
Prepaid clinical trial and drug manufacturing costs	$	6,480	$	8,487
Prepaid insurance		597		998
Prepaid equity financing costs		410		490
Prepaid rent		257		247
Prepaid software costs		237		104
Prepaid recruiting fees		109		—
Other		3,217		719
Total prepaid expenses and other current assets	$	11,307	$	11,045

Accrued Expenses and Other Current Liabilities

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

	December 31, 2023		December 31, 2022
Accrued payroll	$	3,932	$	3,217
Accrued clinical and drug manufacturing expenses		2,213		4,334
Related party payable		1,926		2,780
Accrued legal fees		59		338
Accrued expenses and other		619		295
Total accrued expenses and other current liabilities	$	8,749	$	10,964

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 11).