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Balance Sheet Components | 12 Months Ended
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Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract] |
BALANCE SHEET COMPONENTS | 9. BALANCE SHEET COMPONENTS Inventory Inventory consisted of the following:
|  | December 31, |
(In thousands) |  | 2024 |  |  | 2023 |
Raw materials |  | $ | 11,113 |  |  | $ | 11,257 |
Work-in-process |  |  | 20,529 |  |  |  | 15,670 |
Finished goods |  |  | 2,083 |  |  |  | 13,810 |
Total inventory |  | $ | 33,725 |  |  | $ | 40,737 |
As of December 31, 2024 and 2023, total inventory included net fair value adjustments resulting from the acquisition of La Jolla of approximately $9.2 million and $23.0 million, respectively, which will be recognized as cost of products sold when sales occur in future periods. The fair value adjustments recorded as part of cost of products sold amounted to $13.8 million, $27.2 million and $10.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. Other Accrued Liabilities Other accrued liabilities consisted of the following:
|  | December 31, |
(In thousands) |  | 2024 |  |  | 2023 |
Accrued contract manufacturing expenses |  | $ | 1,071 |  |  | $ | 1,966 |
Accrued clinical and research expenses |  |  | 611 |  |  |  | 776 |
Accrued professional services |  |  | 8,682 |  |  |  | 8,876 |
Current portion of lease liabilities |  |  | 1,572 |  |  |  | 1,207 |
Royalty obligation payable |  |  | 2,951 |  |  |  | 1,928 |
Current portion of deferred royalty obligation |  |  | 6,438 |  |  |  | — |
Accrued license fees and royalties |  |  | 1,727 |  |  |  | 1,575 |
Other |  |  | 6,947 |  |  |  | 3,370 |
Total other accrued liabilities |  | $ | 29,999 |  |  | $ | 19,698 |
Amount in “Other” as of December 31, 2024 includes $5.3 million in consideration received under a letter agreement we have entered into with Zai Lab as discussed in Note 4, “License and Collaboration Arrangements”. Other Long-Term Liabilities Other long-term liabilities consisted of the following:
|  | December 31, |
(In thousands) |  | 2024 |  |  | 2023 |
Long-term portion of deferred royalty obligation |  | $ | 63,096 |  |  | $ | 69,876 |
Long-term portion of lease liabilities |  |  | 1,179 |  |  |  | 1,635 |
Contingent value rights liability |  |  | — |  |  |  | 359 |
Total other long-term liabilities |  | $ | 64,275 |  |  | $ | 71,870 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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