Other Long-Term Liabilities

6 Months Ended

Jun. 30, 2022

Other Long-Term Liabilities

Other Long-Term Liabilities

(6) Other Long-Term Liabilities

Other long-term liabilities include the following:

	June 30,		December 31,
	2022		2021
	(In thousands)
Net deferred tax liabilities related to IPR&D (Note 11)	$	1,613	$	1,613
Deferred Income From Sale of Tax Benefits		4,650		—
Contingent milestones (Note 3 and Note 13)		—		6,862
Deferred revenue (Note 10)		463		433
Total		6,726		8,908
Less current portion		(1,393)		(1,554)
Long-term portion	$	5,333	$	7,354

In March 2022, the Company received approval from the New Jersey Economic Development Authority and agreed to sell New Jersey tax benefits of $5.0 million to an independent third party for $4.7 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.