Balance Sheet Account Detail (Tables)

6 Months Ended

Jun. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The following is a summary of our presented composition of “cash and cash equivalents” and “marketable securities”:


	Historical or Amortized Cost		Foreign Currency Translation		Unrealized Gains		Unrealized Losses		Fair Value		Cash and Cash Equivalents		Marketable Securities
June 30, 2020
Equity securities (see Note 7)	$	5,008	$	(2,515)	$	20,592	$	—	$	23,085	$	—	$	23,085
Money market funds	83,987		—		—		—		83,987		83,987		—
Government-related debt securities*	20,100		—		193		—		20,293				20,293
Corporate debt securities*	19,693		—		56		(10)		19,739		—		19,739
Bank deposits	1,139		—		—		—		1,139		1,139		—
Mutual funds	3,692		—		420		—		4,112		—		4,112
Bank CDs	4,126		—		35		—		4,161		—		4,161
Total cash and cash equivalents and marketable securities	$	137,745	$	(2,515)	$	21,296	$	(10)	$	156,516	$	85,126	$	71,390
December 31, 2019
Equity securities (see Note 7)	$	6,310	$	(2,477)	$	27,214	$	—	$	31,047	$	—	$	31,047
Money market funds	54,199		—		—		—		54,199		54,199		—
Government-related debt securities*	62,617		—		19		(10)		62,626		—		62,626
Corporate debt securities*	58,235		—		38		(25)		58,248		5,000		53,248
Bank deposits	5,219		—		—		—		5,219		5,219		—
Mutual funds	4,375		—		783		—		5,158		—		5,158
Bank CDs	7,354		—		22		—		7,376		—		7,376
Total cash and cash equivalents and marketable securities	$	198,309	$	(2,477)	$	28,076	$	(35)	$	223,873	$	64,418	$	159,455

* Beginning in the second quarter of 2019, we purchased certain government-related and corporate debt securities. We have classified these as “available-for-sale” since we may redeem or sell these investments before their stated maturity to fund our operations. Under the requirements of ASC 320, Investments - Debt and Equity Securities: (i) we recorded these securities at initial “book value” and then amortize, through maturity, the determined “discount” or “premium” within “interest income” on the accompanying Condensed Consolidated Statements of Operations, and (ii) we recognize the “unrealized gains (loss)” of these securities (i.e., fair value versus amortized book value) as a separate component of “other comprehensive loss” on the accompanying Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended June 30, 2020.

Property and Equipment, net

“Property and equipment, net” consists of the following:


	June 30, 2020		December 31, 2019
Manufacturing equipment*	$	11,314	$	10,355
Computer hardware and software	3,866		3,606
Laboratory equipment	36		36
Leasehold improvements	3,374		3,374
Office furniture	247		248
Property and equipment, at cost	18,837		17,619
(Less): Accumulated depreciation	(6,290)		(6,012)
Property and equipment, net	$	12,547	$	11,607

* This account is comprised of our owned ROLONTIS production equipment on location at our contract manufacturer. This equipment has alternative future use for the general production of various biologic agents. Accordingly, we have capitalized these purchases, rather than recording it as “research and development” expense in full, despite its current designation for the manufacture of pre-FDA approved product. The majority of this manufacturing equipment was not in use and therefore not being depreciated as of June 30, 2020. Depreciation for installed and ready-for-use equipment is recorded to “research and development” expense prior to FDA approval and will be prospectively recorded to “cost of sales” upon FDA approval of ROLONTIS.

Prepaid Expenses and Other Current Assets

“Prepaid expenses and other current assets” consists of the following:


	June 30, 2020		December 31, 2019
Vendor deposits	$	11,223	$	8,740
Prepaid insurance	566		1,408
Prepaid expenses and other current assets	$	11,789	$	10,148

Schedule of Other Receivables

“Other receivables” consists of the following:


	June 30, 2020		December 31, 2019
Insurance receivable*	$	3,031	$	4,015
CASI other receivables	—		2,393
Other miscellaneous receivables	1,631		1,490
Income tax receivable - current portion	1,305		973
Interest receivable from marketable securities (see Note 3(a))	198		561
Reimbursements due from development partners for incurred research and development expenses	129		126
Other receivables	$	6,294	$	9,558

* This insurance receivable balance represents our incurred legal fees and pending and completed settlements that are expected to be reimbursed by our insurance carriers.

Facility and Equipment Under Lease

The below table summarizes these lease asset and liability accounts presented on our accompanying Condensed Consolidated Balance Sheets:


Operating Leases*	Condensed Consolidated Balance Sheet Caption	June 30, 2020		December 31, 2019
Operating lease right-of-use assets - non-current*	Facility and equipment under lease	$	3,068	$	3,806

Operating lease liabilities - current	Accounts payable and other accrued liabilities	1,731		1,683
Operating lease liabilities - non-current	Other long-term liabilities	1,563		2,372
Total operating lease liabilities		$	3,294	$	4,055

* As of June 30, 2020 and December 31, 2019, our “facility and equipment under lease” consisted of office and research facilities of $2.7 million and $3.4 million, respectively, and office equipment of $0.4 million and $0.4 million, respectively.

Schedule of Accounts Payable and Other Accrued Liabilities

“Accounts payable and other accrued liabilities” consists of the following:


	June 30, 2020		December 31, 2019
Trade accounts payable and other	$	28,068	$	32,012
Lease liability - current portion	1,731		1,683
Accrued commercial/Medicaid rebates	2,661		2,925
Accrued product royalty due to licensors	—		66
Allowance for product returns	4,536		4,714
Accrued data and distribution fees	768		768
Accrued GPO administrative fees	6		6
Accrued inventory management fees	168		364
Allowance for government chargebacks	11,746		11,746
Accounts payable and other accrued liabilities	$	49,684	$	54,284

Schedule of Amounts Presented in Accounts Payable and Other Accrued Liabilities

Amounts presented within “accounts payable and other accrued liabilities” in the accompanying Condensed Consolidated Balance Sheets for our categories of GTN estimates (see Note 2(i)) were as follows:


	Commercial/Medicaid Rebates and Government Chargebacks		Distribution, Data, Inventory and GPO Administrative Fees		Product Return Allowances
Balance as of December 31, 2018	$	22,952	$	3,932	$	5,171
Add: GTN accruals recorded for product sales	7,702		1,209		167
(Less): Payments made and credits against GTN accruals	(15,983)		(4,003)		(624)
Balance as of December 31, 2019	$	14,671	$	1,138	$	4,714
Add: GTN accruals recorded for product sales	—		—		—
(Less): Payments made and credits against GTN accruals	(264)		(196)		(178)
Balance as of June 30, 2020	$	14,407	$	942	$	4,536