Certain Balance Sheet Items

6 Months Ended

Jun. 30, 2023

Balance Sheet Related Disclosures [Abstract]

Accounts receivable, net and contract assets consisted of the following (in thousands):


	June 30, 2023		December 31, 2022
Accounts receivable from product sales to partners	$	31,889	$	62,979
Accounts receivable from revenues under collaborative agreements	42,518		18,776
Accounts receivable from royalty payments	113,974		100,900
Accounts receivable from other product sales	39,711		6,229
Other receivable	243		—
Contract assets	24,490		44,102
Total accounts receivable and contract assets	$	252,825	$	232,986
Allowance for distribution fees and discounts	(6,646)		(1,914)
Total accounts receivable, net and contract assets	$	246,179	$	231,072

Inventories, net consisted of the following (in thousands):


	June 30, 2023		December 31, 2022
Raw materials	$	24,211	$	13,792
Work-in-process	50,336		40,361
Finished goods	57,859		45,970
Total inventories, net	$	132,406	$	100,123

Prepaid expenses and other assets consisted of the following (in thousands):


	June 30, 2023		December 31, 2022
Prepaid manufacturing expenses	$	41,614	$	51,694

Other prepaid expenses	9,855		4,647
Other assets	5,825		14,984
Total prepaid expenses and other assets	$	57,294	$	71,325
Less: Long-term portion	(18,409)		(26,301)
Total prepaid expenses and other assets, current	$	38,885	$	45,024

Prepaid manufacturing expenses include raw materials, slot reservation fees and other amounts paid to contract manufacturing organizations. Such amounts are reclassified to work-in-process inventory as materials are used or the contract manufacturing organization services are complete.

Property and equipment, net consisted of the following (in thousands):


	June 30, 2023		December 31, 2022
Research equipment	$	8,172	$	7,380
Manufacturing equipment	29,697		27,893
Computer and office equipment	8,151		7,855
Leasehold improvements	6,611		6,729
Subtotal	$	52,631	$	49,857
Accumulated depreciation and amortization	(16,581)		(14,756)
Subtotal	$	36,050	$	35,101
Right of use of assets	38,509		40,469
Property and equipment, net	$	74,559	$	75,570

Depreciation and amortization expense was approximately $2.8 million and $1.1 million, inclusive of ROU asset amortization of $1.4 million and $0.6 million for the three months ended June 30, 2023 and 2022, respectively.

Depreciation and amortization expense was approximately $5.4 million and $1.9 million inclusive of ROU asset amortization of $2.8 million and $1.0 million for the six months ended June 30, 2023 and 2022, respectively.

Accrued expenses consisted of the following (in thousands):


	June 30, 2023		December 31, 2022

Accrued compensation and payroll taxes	$	12,973	$	19,939
Accrued outsourced manufacturing expenses	23,914		12,190
Income taxes payable	7,940		—
Product returns and sales allowance	39,857		30,261
Other accrued expenses	18,028		29,771
Lease liability	33,594		34,788
Total accrued expenses	$	136,306	$	126,949
Less long-term portion	(30,875)		(30,433)
Total accrued expenses, current	$	105,431	$	96,516

Expense associated with the accretion of the lease liabilities was approximately $0.6 million and $0.1 million for the three months ended June 30, 2023 and 2022, respectively and $1.3 million and $0.2 million for the six months ended June 30, 2023 and 2022, respectively. Total lease expense for the three months ended June 30, 2023 and 2022 was $2.0 million and $0.6 million, respectively and $4.1 million and $1.1 million for the six months ended June 30, 2023 and 2022, respectively.

Cash paid for amounts related to leases for the three months ended June 30, 2023 and 2022 was $1.7 million and $0.9 million, respectively and $3.4 million and $1.6 million for the six months ended June 30, 2023, respectively.