Other Financial Statement Information

9 Months Ended

Sep. 30, 2024

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, 2024		December 31, 2023
Prepaid clinical trial costs	$	3,825	$	5,273
Interest income receivable		1,997		512
Prepaid insurance		988		597
Prepaid medical affairs expenses		820		—
Prepaid commercial planning		597		789
Prepaid professional services fees		432		198
Prepaid drug manufacturing costs		411		2,578
Prepaid software license fees		349		237
Prepaid rent		274		257
Other		1,129		866
Total prepaid expenses and other current assets	$	10,822	$	11,307

Accrued Expenses and Other Current Liabilities

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

	September 30, 2024		December 31, 2023
Accrued clinical trial and drug manufacturing expenses	$	14,529	$	2,213
Accrued payroll		3,641		3,932
Related party payable		105		1,926
Other accrued expenses		1,429		678
Other current liabilities		286		—
Total accrued expenses and other current liabilities	$	19,990	$	8,749

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 10).