Balance Sheet Accounts

12 Months Ended

Dec. 31, 2019

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Accounts

Balance Sheet Accounts

Prepaid and Other Current Assets

Prepaid and other current assets consist of the following:

	December 31,
	2019		2018
Advances to commercial manufacturers	$	2,462	$	2,700
Prepaid FDA user fee	6,345		1,540
Prepaid insurance	191		150
Prepaid income taxes	4,661		5,739
All other	1,445		134
Total Prepaid expenses and other current assets	$	15,104	$	10,263

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following:

	December 31,
	2019		2018
Accrued expenses
Royalties payable to commercial partners	$	6,004	$	7,139
Accrued research & development	1,686		1,245
Accrued professional fees	1,926		2,408
Accrued salary and other compensation	8,083		5,049
Accrued product costs	8,364		5,869
All other	2,298		1,809
Total Accrued expenses and other liabilities	$	28,361	$	23,519

Adoption of FASB ASU No. 2016-02, “Leases (Topic 842)” as of January 1, 2019

The Company leases its corporate office under an amended lease agreement that expires on June 30, 2025 (the "Corporate Office Lease"). The Corporate Office Lease was amended on August 8, 2019 to extend the term through such date and to increase the amount of leased office space. The Company also leases lab space under a lease agreement that expires on October 31, 2023 (the "Lab Space Lease"). The Company estimated the right of use asset and the corresponding lease liability, on a discounted basis, as of the adoption date of January 1, 2019. The future minimum lease payments under this Corporate Office Lease are approximately $4.0 million.

For the Company's two operating leases (the Corporate Office Lease and Lab Space Lease), the depreciation and interest expense components are combined and recognized ratably over the remaining term of the lease as research and development and selling, general and administrative in the Company's consolidated statements of operations, respectively.

The Company used its estimated incremental borrowing rate to calculate the present value of the ROU assets and lease liabilities as of the date of adoption date. The implicit interest rate related to the Company’s two lease agreements was not known as of the date of adoption. Therefore, the Company calculated an incremental borrowing rate based on the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment.

Lease related disclosures consist of the following:

	December 31,
	2019
Right of use (ROU) asset, net included in Other assets	$	3,716
Lease liability included with Other long-term liabilities	$	3,000
Lease liability included with Accrued expenses and other liabilities	$	1,101
YTD 2019 depreciation of ROU asset	$	1,159
YTD 2019 related rent expense	$	1,146
YTD operating cash flows from operating leases	$	952
YTD operating lease costs	$	1,146
Weighted-average remaining lease term - operating leases	5.0 years
Weighted-average discount rate - operating leases	6		%

As of December 31, 2019, the future minimum lease commitments for the Company's two leases were as follows:

Total		2020		2021		2022		2023		2024		Beyond
$	6,607	$	1,345	$	1,362	$	1,376	$	1,291	$	820	$	413

As of December 31, 2018, the future minimum lease commitments for the Company's two leases were as follows:

Total		2019		2020		2021		2022		2023
$	3,661	$	1,146	$	864	$	583	$	583	$	485