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Development Liability (Tables) | 3 Months Ended
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Mar. 31, 2024
Research and Development [Abstract] |
Summary of Development Liability | The following table summarizes the development liability (in thousands):
|  | March 31, 2024 |  |  | December 31, 2023 |  |  | Effective Interest Rate |
Development liability |  | $ | 366,000 |  |  | $ | 366,000 |  |  |  | 7.91 | %
Less: Unamortized discount to development liability |  |  | (44,287 | ) |  |  | (50,353 | ) |  |  |
Less: Current portion of development liability, net of discount |  |  | (77,287 | ) |  |  | (75,830 | ) |  |  |
Total long-term development liability |  | $ | 244,426 |  |  | $ | 239,817 |  |  |  |
Schedule of Future Minimum SFJ Payments | Future minimum SFJ payments as of March 31, 2024 is as follows (in thousands):
2024 | $ |  | 98,750 |
2025 |  |  | 103,000 |
2026 |  |  | 109,000 |
2027 |  |  | 55,250 |
Total future minimum payments |  |  | 366,000 |

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- Definition Tabular disclosure of contractual obligation by timing of payment due. Includes, but is not limited to, long-term debt obligation, lease obligation, and purchase obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (S-X 210.12-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
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