Other Long-Term Liabilities

12 Months Ended

Dec. 31, 2021

Other Long-Term Liabilities

Other Long-Term Liabilities

(10) Other Long-Term Liabilities

Other long-term liabilities include the following:

	December 31,		December 31,
	2021		2020
	(In thousands)
Net deferred tax liabilities related to IPR&D (Note 15)	$	1,613	$	1,840
Contingent milestones (Note 4)		6,862		8,267
Deferred revenue (Note 13)		433		3,386
Total		8,908		13,493
Less current portion		(1,554)		(3,372)
Long-term portion	$	7,354	$	10,121

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. No revenue was recorded related to the sale of these tax benefits during the year ended December 31, 2021. During the years ended December 31, 2020 and 2019, the Company recorded $1.8 million and $2.4 million to other income related to the sale of these tax benefits, respectively.