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Other Long-Term Liabilities

9 Months Ended

Sep. 30, 2024

Other Long-Term Liabilities

Other Long-Term Liabilities

(7)  Other Long-Term Liabilities

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Other long-term liabilities include the following:

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​	​	​	​	​	​	​
​		September 30,			December 31,
​	​	2024		​	2023
​	​	(In thousands)
Net deferred tax liabilities related to IPR&D (Note 12)	​	$	1,613	​	$	1,613
Deferred income from sale of tax benefits	​		2,790	​	​	3,720
Deferred revenue (Note 11)	​		466	​	​	3,058
Total	​		4,869	​	​	8,391
Less current portion	​		(1,396)	​	​	(3,988)
Long-term portion	​	$	3,473	​	$	4,403

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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. The Company recognized $0.0 million and $0.9 million in other income related to the sale of these tax benefits for the three and nine months ended September 30, 2024, respectively, and $0.0 million and $0.9 million for the three and nine months ended September 30, 2023, respectively.

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- Definition

The entire disclosure for other liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(20))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(24))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 405
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/405/tableOfContent

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