Balance Sheet Components

9 Months Ended

Sep. 30, 2023

Balance Sheet Related Disclosures [Abstract]

8. Balance Sheet Components

Inventory

Inventory consisted of the following:


	September 30,		December 31,
(in thousands)	2023		2022
Raw materials	$	8,859	$	5,757
Work-in-progress		13,231		25,052
Finished goods		18,425		25,088
Total inventory	$	40,515	$	55,897

As of September 30, 2023 and December 31, 2022, total inventory included net fair value adjustments resulting from the acquisition of La Jolla of approximately $31.0 million and $49.5 million, respectively, 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 $5.4 million and $19.2 million for the three and nine months ended September 30, 2023, respectively. The fair value adjustments recorded as part of cost of products sold amounted to $2.7 million for the three and nine months ended September 30, 2022.

Other Accrued Liabilities

Other accrued liabilities consisted of the following:


	September 30,		December 31,
(in thousands)	2023		2022
Accrued contract manufacturing expenses	$	5,645	$	8,382
Accrued clinical expenses		712		692
Accrued research expenses		211		349
Accrued professional services		9,796		3,977
Current portion of lease liabilities		1,211		1,316
Current portion of deferred royalty obligations		3,976		2,639
Accrued license fees and royalties		730		943
Other		2,418		2,909
Total other accrued liabilities	$	24,699	$	21,207

Other Long-term Liabilities

Other long-term liabilities consisted of the following:


	September 30,		December 31,
(in thousands)	2023		2022
Long-term portion of deferred royalty obligation	$	66,142	$	67,947
Long-term portion of lease liabilities		1,953	$	2,376
Contingent value rights liability		595		595
Total other long-term liabilities	$	68,690	$	70,918