Other Long-Term Liabilities

12 Months Ended

Dec. 31, 2022

Other Long-Term Liabilities

Other Long-Term Liabilities

(10) Other Long-Term Liabilities

Other long-term liabilities include the following:

	December 31,		December 31,
	2022		2021
	(In thousands)
Net deferred tax liabilities related to IPR&D (Note 15)	$	1,613	$	1,613
Deferred income from sale of tax benefits		4,650		—
Contingent milestones (Note 4)		—		6,862
Deferred revenue (Note 13)		60		433
Total		6,323		8,908
Less current portion		(990)		(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.

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. During the year ended December 31, 2020, the Company recorded $1.8 million to other income related to the sale of these tax benefits.