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ACCRUED EXPENSES (Tables)
12 Months Ended
Dec. 31, 2023
Payables and Accruals [Abstract]  
Summary of Accrued Expenses

The following table summarizes the Company’s accrued expenses for each of the periods indicated:

 

 

 

As of December 31,

 

 

 

2023

 

 

2022

 

 

 

(in thousands)

 

Product revenue related reserves

 

$

100,075

 

 

$

68,784

 

Accrued employee compensation costs

 

 

78,732

 

 

 

65,946

 

Accrued clinical and pre-clinical costs

 

 

34,669

 

 

 

28,884

 

Accrued contract manufacturing costs

 

 

33,024

 

 

 

202,173

 

Accrued professional fees

 

 

17,187

 

 

 

12,061

 

Accrued income taxes

 

 

13,766

 

 

 

12,521

 

Accrued royalties

 

 

12,070

 

 

 

8,636

 

Accrued milestone and license expense

 

 

11,375

 

 

 

7,702

 

Accrued interest expense

 

 

4,395

 

 

 

4,956

 

Accrued collaboration cost-sharing

 

 

1,076

 

 

 

2,019

 

Other

 

 

8,628

 

 

 

5,314

 

Total accrued expenses

 

$

314,997

 

 

$

418,996