XML 16 R10.htm IDEA: XBRL DOCUMENT v3.20.1
Financial Statement Details
3 Months Ended
Mar. 31, 2020
Financial Statement Details [Abstract]  
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.