Balance Sheet Components

3 Months Ended

Mar. 31, 2023

Balance Sheet Related Disclosures [Abstract]

8. Balance Sheet Components

Inventory

Inventory consisted of the following:


	March 31,		December 31,
(in thousands)	2023		2022
Raw materials	$	5,757	$	5,757
Work-in-progress		22,539		25,052
Finished goods		21,357		25,088
Total inventory	$	49,653	$	55,897

As of March 31, 2023, total inventory included net fair value adjustments resulting from the acquisition of La Jolla of approximately $42.7 million, which will be amortized and recognized as cost of products sold when sales occur in future periods. The fair value adjustments recorded as part of cost of products sold amounted to $6.8 million for the three months ended March 31, 2023.

Other Accrued Liabilities

Other accrued liabilities consisted of the following:


	March 31,		December 31,
(in thousands)	2023		2022
Accrued contract manufacturing expenses	$	5,357	$	8,382
Accrued clinical expenses		948		692
Accrued research expenses		317		349
Accrued professional services		5,863		3,977
Current portion of lease liabilities		1,266		1,316
Current portion of deferred royalty obligations		3,228		2,639
Accrued license fees and royalties		2,352		943
Other		5,569		2,909
Total other accrued liabilities	$	24,900	$	21,207

Amount in “Other” as of March 31, 2023 includes $3.8 million in ISP Fund LP’s liability for unsettled securities transactions.

Other Long-term Liabilities

Other long-term liabilities consisted of the following:


	March 31,		December 31,
(in thousands)	2023		2022
Long-term portion of deferred royalty obligation	$	67,130	$	67,947
Long-term portion of lease liabilities		2,101	$	2,376
Contingent value rights liability		595		595
Other		307		—
Total other long-term liabilities	$	70,133	$	70,918