Selected Balance Sheet Components

9 Months Ended

Sep. 30, 2023

Balance Sheet Related Disclosures [Abstract]

Selected Balance Sheet Components

Selected Balance Sheet Components

Inventory

Inventory consisted of the following:

(In thousands)	September 30, 2023		December 31, 2022
Raw materials	$	11,436	$	15,101
Work-in-process	967		832
Finished goods	218		53
Total inventory	$	12,621	$	15,986

Property and Equipment

Property and Equipment, net consisted of the following:

(In thousands)	September 30, 2023		December 31, 2022
Machinery and equipment	$	5,562	$	5,041
Furniture, fixtures and office equipment	1,710		1,710
Computer equipment and software	8,365		8,224
Leasehold improvements	14,901		13,689
Construction in process	20,883		5,438
Financing right-of-use lease	9		37
Total property and equipment, gross	51,430		34,139
Less accumulated depreciation	(21,214)		(18,302)
Total property and equipment, net	$	30,216	$	15,837

Depreciation expense for the three and nine months ended September 30, 2023 was $1.0 million and $3.0 million, respectively, and $1.0 million and $2.9 million, respectively, for the same periods in 2022.

Intangible Assets

Intangible assets, net consisted of the following:

			September 30, 2023						December 31, 2022
(In thousands)	Useful Life (in years)	Amortization Method	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
NexoBrid license	12	Straight-line	$	7,500	$	(469)	$	7,031	$	7,500	$	—	$	7,500

Amortization expense for the three and nine months ended September 30, 2023 was $0.2 million and $0.5 million, respectively.

Future amortization expense of intangible assets as of September 30, 2023 is estimated to be as follows:

(In thousands)	Amount
Remainder of 2023	$	156
2024	625
2025	625
2026	625
2027	625
Thereafter	4,375
Total	$	7,031

Accrued Expenses

Accrued Expenses consisted of the following:

(In thousands)	September 30, 2023		December 31, 2022
Bonus-related compensation	$	6,622	$	7,132
Employee-related accruals	2,629		3,101
Insurance reimbursement-related liabilities	3,949		5,030
Other accrued expenses	428		927
Total accrued expenses	$	13,628	$	16,190