Certain Balance Sheet Accounts

3 Months Ended

Mar. 31, 2022

Certain Balance Sheet Accounts

Certain Balance Sheet Accounts

Note 5—Certain Balance Sheet Accounts

OMIDRIA Contract Royalty Asset

OMIDRIA contract royalty asset consists of the following:

	March 31,		December 31,
	2022		2021
	(In thousands)
Short-term contract royalty asset	$	44,110	$	44,319
Long-term contract royalty asset		133,625		140,251
Total OMIDRIA contract royalty asset	$	177,735	$	184,570

Receivables, net

Receivables, net consists of the following:

	March 31,		December 31,
	2022		2021
	(In thousands)
Royalty and trade receivables, net	$	15,847	$	36,505
Sublease and other receivables		408		1,650
Total receivables, net	$	16,255	$	38,155

Trade receivables are net of product return and chargeback allowances. Product returns and chargeback allowances were $2.0 million as of December 31, 2021.

Property and Equipment, Net

Property and equipment, net consists of the following:

	March 31,		December 31,
	2022		2021
	(In thousands)
Finance leases	$	5,979	$	5,979
Laboratory equipment		3,091		3,091
Computer equipment		1,069		1,069
Office equipment and furniture		625		625
Total cost		10,764		10,764
Less accumulated depreciation and amortization		(9,311)		(9,033)
Total property and equipment, net	$	1,453	$	1,731

For the three months ended March 31, 2022 and 2021, depreciation and amortization expense was $0.3 million and $0.4 million, respectively.

Accrued Expenses

Accrued expenses consists of the following:

	March 31,		December 31,
	2022		2021
	(In thousands)
Consulting and professional fees	$	6,555	$	7,455
Contract research and development		4,492		3,916
Interest payable		3,703		5,172
Clinical trials		3,408		2,430
Employee compensation		2,503		3,706
Sales rebates, fees and discounts		1,727		8,442
Other accrued expenses		1,408		2,013
Total accrued expenses	$	23,796	$	33,134