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Facility financing agreement (Tables)
9 Months Ended
Sep. 30, 2013
Components of Facility Financing Agreement

The components of the facility financing agreement recorded as of September 30, 2013 consist of the following (in thousands):

 

     September 30,
2013
 

2019 notes

  

Principal amount

   $ 80,000   

Debt discount-net of amortization

     (6,798

Unaccreted debt issuance expense

     (269
  

 

 

 

Net carrying amount of facility financing obligation

   $ 72,933   
  

 

 

 

Milestone rights

  

Principal amount

   $ 16,276   

Debt discount-net of amortization

     (51

Unaccreted debt issuance expense

     (61

Less current portion of milestone rights included in other current liabilities

     (3,150
  

 

 

 

Net carrying amount included in other liabilities

   $ 13,013   
  

 

 

 

Commitment Asset

  

Initial commitment asset fair value

   $ 13,393   

Less Tranche 2 portion of commitment asset

     (3,656
  

 

 

 

Commitment asset value included in other assets

   $ 9,737   
  

 

 

 
Accretion of Debt Issuance Cost and Debt Discount

Accretion of debt issuance cost and debt discount in connection with the Deerfield financing during the three and nine months ended September 30, 2013 are as follows (in thousands).

 

     Three months ended
September 30,

2013
     Nine months ended
September 30,

2013
 

Accretion expense- debt issuance cost

   $ 8       $ 8   

Accretion expense- debt discount

   $ 190       $ 190