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Balance Sheet Account Detail
 12 Months Ended
Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Account Detail BALANCE SHEET ACCOUNT DETAIL
The composition of selected financial statement captions that comprise the accompanying Consolidated Balance Sheets are summarized below:
(a) Cash and Cash Equivalents and Marketable Securities
We maintain cash balances with select major financial institutions. The Federal Deposit Insurance Corporation (FDIC) and other third parties insure a fraction of these deposits. Accordingly, these cash deposits are not insured against the possibility of a substantial or complete loss of principal and are inherently subject to the credit risk of the corresponding financial institution.
Our investment policy requires that purchased investments may only be in highly-rated and liquid financial instruments and limits our holdings of any single issuer (excluding any debt or equity securities that may be received from our strategic partners in connection with an out-license arrangement).

The carrying amount of our equity securities, money market funds, and bank CDs approximates their fair value (utilizing “Level 1” or “Level 2” inputs because of our ability to immediately convert these instruments into cash with minimal expected change in value. There were no material unrealized losses on our investment securities at December 31, 2021 or 2020.
The following is a summary of our presented composition of “cash and cash equivalents” and “marketable securities”:
Historical or Amortized CostFair ValueCash and Cash
Equivalents		Marketable Securities
December 31, 2021
Money market funds$66,322 $66,322 $66,322 $— 
Equity securities(1)
3,512 5,718 — 5,718 
Mutual funds 5,218 6,390 — 6,390 
Bank deposits22,217 22,217 22,217 — 
Total cash and cash equivalents and marketable securities$97,269 $100,647 $88,539 $12,108 
December 31, 2020
Money market funds$40,560 $40,560 $40,560 $— 
Equity securities3,764 24,946 — 24,946 
Government-related debt securities92,881 92,928 — 92,928 
Corporate debt securities8,846 8,848 — 8,848 
Mutual funds4,497 5,573 — 5,573 
Bank CDs1,715 1,721 — 1,721 
Bank deposits5,449 5,449 5,449 — 
Total cash and cash equivalents and marketable securities$157,712 $180,025 $46,009 $134,016 
 (1)Our aggregate equity holdings consist of 5.1 million common shares of CASI Pharmaceuticals, Inc., a NASDAQ-listed biopharmaceutical company, with a fair market value of $4.0 million as of December 31, 2021. We completed the sale of 3.4 million shares of common stock and recognized a $5.7 million gain within “other expense, net” within the accompanying Consolidated Statements of Operations for the year ended December 31, 2021. Additionally, we hold 0.8 million common shares of Unicycive Therapeutics, Inc., a NASDAQ-listed biopharmaceutical company, with a fair market value of $1.7 million as of December 31, 2021.
(b) Other Receivables

“Other receivables” consists of the following:
December 31,
20212020
Other miscellaneous receivables$685 $901 
Employee receivable341 — 
Income tax receivable - current portion— 1,297 
Interest receivable from marketable securities2 196 
Other receivables$1,028 $2,394 

(c) Prepaid Expenses and Other Current Assets

“Prepaid expenses and other current assets” consists of the following:
December 31,
20212020
Prepaid expenses and deferred costs$1,550 $1,996 
Prepaid insurance727 2,165 
Prepaid expenses and other current assets$2,277 $4,161 
(d) Property and Equipment, net
“Property and equipment, net” consists of the following:
December 31,
20212020
Manufacturing equipment$— $3,245 
Computer hardware and software1,803 1,680 
Laboratory equipment5 5 
Office furniture317 248 
Leasehold improvements1,278 1,267 
Property and equipment, at cost3,403 6,445 
(Less): Accumulated depreciation(2,948)(2,868)
Property and equipment, net $455 $3,577 

Depreciation expense was immaterial for the years ended December 31, 2021 and 2020, respectively.
Manufacturing equipment was comprised of our owned eflapegrastim production equipment on location at our contract manufacturer. As of December 31, 2020, we determined that we would no longer proceed with the technology transfer and validation of a second manufacturing source for eflapegrastim and communicated this decision to the second source manufacturer. We had invested significant capital to prepare this facility for production. Due to the decision to halt this work, we determined that the value of certain eflapegrastim production equipment had a carrying amount in excess of the anticipated recoverable value as there would be no future cash flows from these assets other than through the sale of this equipment. We determined the fair value of these assets under an orderly liquidation value method, and based on the valuation performed we recorded an impairment of $19.7 million to our carrying value for this equipment, which was recorded as research and development expense for the year ended December 31, 2020 within the Consolidated Statements of Operations. During the year ended December 31, 2021, this equipment was surrendered in connection with the termination of our agreement with our second source manufacturer and we recorded incremental research and development expense of $2.9 million. Fair value was based on observable market data (“Level 2”). Due to the specialized nature of this production equipment, adjustments to observable market data were applied (“Level 3”).
(e) Accounts Payable and Other Accrued Liabilities
“Accounts payable and other accrued liabilities” consists of the following:
 December 31,
 20212020
Trade accounts payable and other$33,408 $34,385 
Lease liability - current portion1,282 1,544 
Commercial Product Portfolio accruals (Note 9)6,568 7,842 
Accounts payable and other accrued liabilities$41,258 $43,771 

Amounts presented within “accounts payable and other accrued liabilities” in the accompanying Consolidated Balance Sheets for our categories of gross-to-net (“GTN”) estimates related to the Commercial Product Portfolio accruals were as follows:
Commercial/Medicaid Rebates and Government ChargebacksDistribution,
Data, Inventory, and
GPO Administrative
Fees		Product Return AllowancesTotal
Balance as of December 31, 2019$14,671 $1,138 $4,714 $20,523 
(Less): Payments and credits against GTN accruals(12,070)(196)(415)(12,681)
Balance as of December 31, 20202,601 942 4,299 7,842 
(Less): Payments and credits against GTN accruals(1,159)— (115)(1,274)
Balance as of December 31, 2021$1,442 $942 $4,184 $6,568