Note 4 - Balance Sheet Components

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Supplemental Balance Sheet Disclosures [Text Block]

NOTE 

4

.  

Balance Sheet Components

(a) Cash and Cash Equivalents  

Cash and cash equivalents comprises the following:

	September 30, 2020		December 31, 2019
	(in thousands)
Cash at banks	$	33,436	$	13,511
Money market funds		100,002		15
Total cash and cash equivalents	$	133,438	$	13,526

(b) Accounts Receivable  

Accounts receivable comprises the following:

	September 30, 2020		December 31, 2019
	(in thousands)
Royalties receivable	$	250	$	3,438
Customer service contracts - billed		—		181
Accounts receivable	$	250	$	3,619

The Company has provided

no

allowance for uncollectible accounts as of 

September 30, 2020

and

December 31, 2019.

(c) Property and Equipment, Net

Property and equipment, net consists of the following:

	September 30, 2020			December 31, 2019
	(in thousands)
Laboratory equipment	$	1,036		$	537
Office and computer equipment		163			132
Total property and equipment		1,199			669
Less: accumulated depreciation		(537	)		(459	)
Property and equipment, net	$	662		$	210

Depreciation expense was

$34,000

and

$131,000

for the 

three

months ended

September 30,

 

2020

and

2019

, respectively, and 

$78,000

and

$386,000

 for the

nine

months ended

September 30,

 

2020

and

2019

, respectively. There were

no

impairments of the Company's property and equipment recorded in the

nine

months ended

September 30,

 

2020

or

2019

.

(d) Right-of-Use Assets , Net

Right-of-use assets, net consists of the following:

	September 30, 2020		December 31, 2019
	(in thousands)
Facilities	$	2,588	$	1,985
Office equipment		3		5
Right-of-use assets, net	$	2,591	$	1,990

(e) Intangible Assets, Net

Intangible assets comprise developed technology and intellectual property. Intangible assets are carried at cost less accumulated amortization. Amortization is computed using the straight-line method over useful lives ranging from

1.3

to

11.75

years for developed technology and

20

 years for intellectual property.

As of

September 30, 2020

, developed technology and intellectual property had remaining lives of

9.1

 and

7.25

years, respectively. Intangible assets consist of the following:

	September 30, 2020			December 31, 2019
	(in thousands)
Purchased technology	$	22,100		$	22,100
Intellectual property		80			80
Total cost		22,180			22,180
Less: accumulated amortization		(6,386	)		(5,087	)
Intangible assets, net	$	15,794		$	17,093

Total amortization expense for the

three

months ended

September 30,

 

2020

and

2019

, was

$433,000

and

$433,000,

respectively, and for the 

nine

months ended

September 30,

 

2020

and

2019

, was

$1,299,000

and

$1,887,000,

respectively. 

As of

September 30, 2020

, the estimated future amortization expense by year is as follows (in thousands):

Year Ending December 31,	Amount
2020 (three months remaining)	$	433
2021		1,732
2022		1,731
2023		1,732
2024		1,732
Thereafter		8,434
Total	$	15,794

(f) Other Accrued Liabilities

Other accrued liabilities consist of the following:

	September 30, 2020		December 31, 2019
	(in thousands)
Accrued compensation	$	1,132	$	903
Accrued clinical and manufacturing expenses		1,386		3,228
Accrued professional and consulting services		677		2
Reserve for return of royalties		—		178
Other liabilities, current portion		529		254
Total	$	3,724	$	4,565