Other Long-Term Liabilities

12 Months Ended

Dec. 31, 2020

Other Long-Term Liabilities

Other Long-Term Liabilities

(10) Other Long‑Term Liabilities

Other long‑term liabilities include the following:

	December 31,		December 31,
	2020		2019
	(In thousands)
Net deferred tax liabilities related to IPR&D (Note 15)	$	1,840	$	3,007
Deferred income from sale of tax benefits		—		1,831
Contingent milestones (Note 4)		8,267		12,485
Deferred revenue (Note 13)		3,386		254
Total		13,493		17,577
Less current portion		(3,372)		(2,026)
Long-term portion	$	10,121	$	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. During the years ended December 31, 2020, 2019 and 2018, the Company recorded $1.8 million, $2.4 million and $2.5 million to other income related to the sale of these tax benefits, respectively.