Interest Expense, net |
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Interest Income (Expense), after Provision for Loan Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest Expense, net | 16. Interest Expense, net
Interest expense, net consists of the following:
Interest expense is comprised primarily of interest on our Loan and Security Agreement with MidCap Business Credit LLC.
Contract asset interest expense relates to the $1.7 million contract asset in connection with the $7.3 million start-up cost financing received from Maruho under the Cutanea acquisition share purchase agreement. The contract asset is amortized on a straight-line basis using a 6% interest rate over the financing arrangement contract term, which ends on December 31, 2023.
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