Financial Statement Details |
3. Financial Statement Details
Prepaid expenses and other current assets
As of March 31, 2020 and December 31, 2019, prepaid expenses and other current assets were made up of (in thousands):
|
|
March 31, 2020 |
|
|
December 31, 2019 |
|
|
|
(Unaudited) |
|
|
|
|
|
Prepaid preclinical and clinical trial services - with
related party (Note 9) |
|
$ |
1,249 |
|
|
$ |
1,021 |
|
Prepaid supplies - with related party (Note 9) |
|
|
410 |
|
|
|
467 |
|
Prepaid rent |
|
|
393 |
|
|
|
392 |
|
Insurance premium financing asset |
|
|
381 |
|
|
|
757 |
|
Prepaid services |
|
|
344 |
|
|
|
440 |
|
Prepaid insurance |
|
|
288 |
|
|
|
372 |
|
Prepaid equipment maintenance |
|
|
262 |
|
|
|
251 |
|
Interest receivable - marketable debt securities |
|
|
205 |
|
|
|
222 |
|
Prepaid license fees |
|
|
157 |
|
|
|
78 |
|
Due from related parties |
|
|
114 |
|
|
|
47 |
|
Insurance claim receivables |
|
|
29 |
|
|
|
34 |
|
Other |
|
|
78 |
|
|
|
24 |
|
|
|
$ |
3,910 |
|
|
$ |
4,105 |
|
Property, plant and equipment, net
As of March 31, 2020 and December 31, 2019, property, plant and equipment, net, was made up of (in thousands):
|
|
March 31, 2020 |
|
|
December 31, 2019 |
|
|
|
(Unaudited) |
|
|
|
|
|
Leasehold improvements |
|
$ |
33,430 |
|
|
$ |
33,406 |
|
Buildings |
|
|
22,690 |
|
|
|
22,690 |
|
Equipment |
|
|
21,640 |
|
|
|
21,434 |
|
Software |
|
|
1,195 |
|
|
|
1,195 |
|
Furniture & fixtures |
|
|
408 |
|
|
|
383 |
|
|
|
|
79,363 |
|
|
|
79,108 |
|
Accumulated depreciation |
|
|
(20,824 |
) |
|
|
(18,607 |
) |
|
|
$ |
58,539 |
|
|
$ |
60,501 |
|
Depreciation expense related to property, plant and equipment was $2.2 million and $1.8 million for the three months ended March 31, 2020 and 2019, respectively.
Other assets
As of March 31, 2020 and December 31, 2019, other assets were made up of (in thousands):
|
|
March 31, 2020 |
|
|
December 31, 2019 |
|
|
|
(Unaudited) |
|
|
|
|
|
Prepaid preclinical and clinical trial services - with
related party (Note 9) |
|
$ |
3,739 |
|
|
$ |
4,075 |
|
Restricted cash |
|
|
179 |
|
|
|
179 |
|
Security deposit |
|
|
113 |
|
|
|
113 |
|
Other |
|
|
20 |
|
|
|
19 |
|
|
|
$ |
4,051 |
|
|
$ |
4,386 |
|
Restricted cash is comprised of a certificate of deposit that serves as collateral for a letter of credit required by our landlord as a security deposit related to our facility in San Diego, California.
Accrued expenses
As of March 31, 2020 and December 31, 2019, accrued expenses were made up of (in thousands):
|
|
March 31, 2020 |
|
|
December 31, 2019 |
|
|
|
(Unaudited) |
|
|
|
|
|
Accrued bonus |
|
$ |
2,611 |
|
|
$ |
2,002 |
|
Accrued compensation |
|
|
1,631 |
|
|
|
1,064 |
|
Accrued professional and service fees |
|
|
1,097 |
|
|
|
975 |
|
Accrued laboratory equipment, supplies and related services |
|
|
559 |
|
|
|
640 |
|
Accrued preclinical and clinical trial costs |
|
|
511 |
|
|
|
281 |
|
Accrued franchise, sales/use and property taxes |
|
|
168 |
|
|
|
200 |
|
Other |
|
|
57 |
|
|
|
181 |
|
|
|
$ |
6,634 |
|
|
$ |
5,343 |
|
Other current liabilities
As of March 31, 2020 and December 31, 2019, other current liabilities were made up of (in thousands):
|
|
March 31, 2020 |
|
|
December 31, 2019 |
|
|
|
(Unaudited) |
|
|
|
|
|
Operating lease liability - current portion (including
amounts with related parties, Note 9) |
|
$ |
3,154 |
|
|
$ |
3,206 |
|
Financing obligation - current portion |
|
|
381 |
|
|
|
757 |
|
Other |
|
|
78 |
|
|
|
18 |
|
|
|
$ |
3,613 |
|
|
$ |
3,981 |
|
Investment income, net
Net investment income is as follows for the three months ended March 31, 2020 and 2019 (in thousands):
|
|
Three Months Ended March 31, |
|
|
|
2020 |
|
|
2019 |
|
|
|
(Unaudited) |
|
Interest income |
|
$ |
224 |
|
|
$ |
410 |
|
Investment amortization expense, net |
|
|
(45 |
) |
|
|
(40 |
) |
Net realized losses on investments |
|
|
(1 |
) |
|
|
— |
|
|
|
$ |
178 |
|
|
$ |
370 |
|
Interest income includes interest from marketable debt securities, notes receivable, other assets, and interest from bank deposits. We did not recognize an impairment loss on any investments during the three months ended March 31, 2020 and 2019.
|