Other Long-Term Liabilities

6 Months Ended

Jun. 30, 2020

Other Long-Term Liabilities

Other Long-Term Liabilities

(7) Other Long-Term Liabilities

Other long-term liabilities include the following:

	June 30, 2020		December 31, 2019
	(In thousands)
Net Deferred Tax Liabilities Related to IPR&D (Note 12)	$	2,779	$	3,007
Deferred Income From Sale of Tax Benefits		1,831		1,831
Contingent Milestones (Note 3)		7,587		12,485
Deferred Revenue (Note 11)		303		254
Total		12,500		17,577
Less Current Portion		(2,104)		(2,026)
Long-Term Portion	$	10,396	$	15,551

In November 2015, the Company received approval from the New Jersey Economic Development Authority and agreed to sell New Jersey tax benefits of $9.8 million to an independent third party for $9.2 million. Under the agreement, the Company must maintain a base of operations in New Jersey for five years or the tax benefits must be paid back on a pro-rata basis based on the number of years completed. The Company recognized $0.0 million in other income related to the sale of these tax benefits during the three and six months ended June 30, 2020 and $0.0 million and $0.2 million during the three and six months ended June 30, 2019, respectively.