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Condensed Consolidated Financial Statement Details (Tables)
3 Months Ended
Mar. 31, 2024
Inventory Disclosure [Abstract]  
Schedule of Inventory

Inventory consists of the following (in thousands):

 

 

March 31, 2024

 

 

December 31, 2023

 

Raw materials

 

$

1,936

 

 

$

1,861

 

Work-in-process

 

 

9,962

 

 

 

12,880

 

Finished goods

 

 

4,340

 

 

 

1,360

 

Total inventory, net

 

$

16,238

 

 

$

16,101

 

Schedule of Other Current Assets

Other current assets consist of the following (in thousands):

 

 

 

March 31, 2024

 

 

December 31, 2023

 

Prepaid research and development expenses

 

$

4,767

 

 

$

4,325

 

Non-trade receivables and other

 

 

1,816

 

 

 

1,047

 

Other prepaid expenses

 

 

4,160

 

 

 

4,407

 

Total other current assets

 

$

10,743

 

 

$

9,779

 

Schedule of Accrued Expenses

Accrued expenses consist of the following (in thousands):

 

 

 

March 31, 2024

 

 

December 31, 2023

 

Accrued compensation

 

$

7,384

 

 

$

5,553

 

Accrued clinical trial expenses

 

 

4,233

 

 

 

4,321

 

Liability to collaboration partners

 

 

1,310

 

 

 

2,678

 

Accrued contract termination costs

 

 

3,043

 

 

 

3,020

 

Other accrued expenses

 

 

8,311

 

 

 

6,590

 

Total accrued expenses

 

$

24,281

 

 

$

22,162

 

Schedule of Liability Related to Sale of Potential Future Royalties

The following is a reconciliation of the changes in our liabilities related to the sales of future royalties for the three months ended March 31, 2024 (in thousands):

 

 

 

Three Months Ended March 31, 2024

 

 

 

2012 Purchase and Sale Agreement

 

 

2020 Purchase and Sale Agreement

 

 

Total

 

Liabilities related to the sales of future royalties, net – beginning balance

 

$

24,217

 

 

$

88,408

 

 

$

112,625

 

Non-cash royalty revenue

 

 

(6,944

)

 

 

(8,564

)

 

 

(15,508

)

Non-cash interest expense

 

 

1,831

 

 

 

3,700

 

 

 

5,531

 

Amortization of transaction costs

 

 

 

 

 

209

 

 

 

209

 

Proceeds from the Amendment

 

 

 

 

 

15,000

 

 

 

15,000

 

Liabilities related to the sales of future royalties, net – ending balance

 

$

19,104

 

 

$

98,753

 

 

$

117,857