Debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Debt

(7)Debt

Debt from Royalty-Bearing Instrument—December 2012 Financing

On December 6, 2012, the Company entered into a Purchase and Sale Agreement with BioPharma Secured Debt Fund II Holdings Cayman LP, or BioPharma. Under this agreement, the Company granted to BioPharma a security interest in future receivables associated with the VASCEPA patent rights, in exchange for $100.0 million received at the closing of the agreement which occurred in December 2012. In the agreement, the Company agreed to repay BioPharma up to $150.0 million with such repayment based on a portion of net revenues and receivables generated from VASCEPA. On December 20, 2017, BioPharma assigned all rights under this agreement to CPPIB Credit Europe S.à r.l., or CPPIB.

As of December 31, 2021, the Company has no outstanding debt as the $150.0 million was previously repaid in full to CPPIB with the final payment being made in November 2020. During the year ended December 31, 2020, the Company recorded $1.6 million and $0.6 million of cash and non-cash interest expense, respectively, in connection with the royalty-bearing instrument (none during 2021).