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Note 5 - Certain Balance Sheet Accounts

9 Months Ended

Sep. 30, 2024

Supplemental Balance Sheet Disclosures [Text Block]

Note 5 — Certain Balance Sheet Accounts

OMIDRIA Contract Royalty Asset

The OMIDRIA contract royalty asset consists of the following:

	September 30,		December 31,
	2024		2023
	(In thousands)
Short-term contract royalty asset	$	29,243	$	29,373
Long-term contract royalty asset		129,488		138,736
Total OMIDRIA contract royalty asset	$	158,731	$	168,109

See “Note 7 — Discontinued Operations – Sale of OMIDRIA” for discussion regarding the estimated fair value of our OMIDRIA contract royalty asset.

Receivables

Receivables consist of the following:

	September 30,		December 31,
	2024		2023
	(In thousands)
OMIDRIA royalty receivables	$	6,095	$	6,724
Other receivables		299		1,372
Total receivables	$	6,394	$	8,096

Property and Equipment, Net

Property and equipment, net consists of the following:

	September 30,			December 31,
	2024			2023
	(In thousands)
Equipment under finance lease obligations	$	7,309		$	6,929
Laboratory equipment		3,664			3,525
Computer equipment		1,113			1,113
Office equipment and furniture		624			624
Total cost		12,710			12,191
Less accumulated depreciation and amortization		(10,771	)		(10,241	)
Total property and equipment, net	$	1,939		$	1,950

For the three months ended September 30, 2024 and 2023, depreciation and amortization expense was $0.2 million for both periods. For the nine months ended September 30, 2024 and 2023, depreciation and amortization expense was $0.6 million and $0.7 million, respectively.

Accrued Expenses

Accrued expenses consists of the following:

	September 30,		December 31,
	2024		2023
	(In thousands)
Clinical trials	$	8,404	$	10,168
Employee compensation		6,930		7,380
Contract research and development		4,453		6,223
Interest payable		1,356		4,242
Consulting and professional fees		1,296		3,539
Other accrued expenses		807		316
Total accrued expenses	$	23,246	$	31,868