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Condensed Consolidated Financial Statement Details (Tables) | 6 Months Ended
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Jun. 30, 2024
Inventory Disclosure [Abstract] |
Schedule of Inventory | Inventory consists of the following (in thousands):
|  | June 30, 2024 |  |  | December 31, 2023 |
Raw materials |  | $ | 1,719 |  |  | $ | 1,861 |
Work-in-process |  |  | 10,590 |  |  |  | 12,880 |
Finished goods |  |  | 2,156 |  |  |  | 1,360 |
Total inventory, net |  | $ | 14,465 |  |  | $ | 16,101 |
Schedule of Other Current Assets | Other current assets consist of the following (in thousands):
|  | June 30, 2024 |  |  | December 31, 2023 |
Prepaid research and development expenses |  | $ | 4,214 |  |  | $ | 4,325 |
Interest and other non-trade receivables |  |  | 1,703 |  |  |  | 1,047 |
Other prepaid expenses |  |  | 2,375 |  |  |  | 4,407 |
Total other current assets |  | $ | 8,292 |  |  | $ | 9,779 |
Schedule of Property, Plant and Equipment | Property, plant and equipment consists of the following (in thousands):
|  | June 30, 2024 |  |  | December 31, 2023 |
Building and leasehold improvements |  | $ | 41,867 |  |  | $ | 43,184 |
Computer equipment and computer software |  |  | 22,118 |  |  |  | 22,438 |
Manufacturing equipment |  |  | 23,980 |  |  |  | 24,315 |
Laboratory equipment |  |  | 14,385 |  |  |  | 14,537 |
Furniture, fixtures and other |  |  | 541 |  |  |  | 541 |
Depreciable property, plant and equipment at cost |  |  | 102,891 |  |  |  | 105,015 |
Less: accumulated depreciation |  |  | (88,428 | ) |  |  | (86,898 | )
Depreciable property, plant and equipment, net |  |  | 14,463 |  |  |  | 18,117 |
Construction in process |  |  | 724 |  |  |  | 739 |
Property, plant and equipment, net |  | $ | 15,187 |  |  | $ | 18,856 |
Schedule of Accrued Expenses | Accrued expenses consist of the following (in thousands):
|  | June 30, 2024 |  |  | December 31, 2023 |
Accrued compensation |  | $ | 8,715 |  |  | $ | 5,553 |
Accrued research and development expenses |  |  | 11,060 |  |  |  | 10,118 |
Accrued contract termination costs |  |  | 3,357 |  |  |  | 3,020 |
Other accrued expenses |  |  | 6,382 |  |  |  | 3,471 |
Total accrued expenses |  | $ | 29,514 |  |  | $ | 22,162 |
Schedule of Liability Related to Sale of Potential Future Royalties | The following is a reconciliation of the changes in our liabilities related to the sales of future royalties for the six months ended June 30, 2024 (in thousands):
|  | Six Months Ended June 30, 2024 |
|  | 2012 Purchase and Sale Agreement |  |  | 2020 Purchase and Sale Agreement |  |  | Total |
Liabilities related to the sales of future royalties, net – beginning balance |  | $ | 24,217 |  |  | $ | 88,408 |  |  | $ | 112,625 |
Non-cash royalty revenue |  |  | (14,104 | ) |  |  | (18,194 | ) |  |  | (32,298 | )
Non-cash interest expense |  |  | 3,488 |  |  |  | 8,451 |  |  |  | 11,939 |
Amortization of transaction costs |  |  | — |  |  |  | 240 |  |  |  | 240 |
Proceeds from the Amendment |  |  | — |  |  |  | 15,000 |  |  |  | 15,000 |
Liabilities related to the sales of future royalties, net – ending balance |  | $ | 13,601 |  |  | $ | 93,905 |  |  | $ | 107,506 |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following table summarizes the changes in accumulated other comprehensive income (loss) by component (in thousands):
|  | Foreign currency translation |  |  | Available-for-sale securities |  |  | Accumulated Other Comprehensive Income |
Balance at December 31, 2023 |  | $ | 30 |  |  | $ | 50 |  |  | $ | 80 |
Foreign currency translation adjustments |  |  | (8 | ) |  |  | — |  |  |  | (8 | )
Unrealized gain on available-for-sale securities |  |  | — |  |  |  | (475 | ) |  |  | (475 | )
Balance at March 31, 2024 |  | $ | 22 |  |  | $ | (425 | ) |  | $ | (403 | )
Foreign currency translation adjustments |  |  | (1 | ) |  |  | — |  |  |  | (1 | )
Unrealized gain on available-for-sale securities |  |  | — |  |  |  | (90 | ) |  |  | (90 | )
Balance at June 30, 2024 |  | $ | 21 |  |  | $ | (515 | ) |  | $ | (494 | )
|  | Foreign currency translation |  |  | Available-for-sale securities |  |  | Accumulated Other Comprehensive Income |
Balance at December 31, 2022 |  | $ | (5,131 | ) |  | $ | (1,776 | ) |  | $ | (6,907 | )
Foreign currency translation adjustments |  |  | 139 |  |  |  | — |  |  |  | 139 |
Unrealized gain on available-for-sale securities |  |  | — |  |  |  | 1,087 |  |  |  | 1,087 |
Balance at March 31, 2023 |  | $ | (4,992 | ) |  | $ | (689 | ) |  | $ | (5,681 | )
Foreign currency translation adjustments |  |  | 13 |  |  |  | — |  |  |  | 13 |
Unrealized gain on available-for-sale securities |  |  | — |  |  |  | 244 |  |  |  | 244 |
Reclassification adjustments to income |  |  | (1,026 | ) |  |  | — |  |  |  | (1,026 | )
Balance at June 30, 2023 |  | $ | (6,005 | ) |  | $ | (445 | ) |  | $ | (6,450 | )

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