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Balance Sheet Components

12 Months Ended

Dec. 31, 2023

5.Balance Sheet Components

Property and Equipment, Net

Property and equipment, net consisted of the following:


	December 31,
(in thousands)	2023		2022
Machinery and equipment	$	13,124	$	12,944
Computer equipment and software		3,546		3,183
Furniture and fixtures		1,055		1,258
Leasehold improvements		5,751		6,198
Finance lease right of use assets		2,294		4,632
Construction in progress		—		696
Total property and equipment		25,770		28,911
Accumulated depreciation and amortization		(20,651)		(20,157)
Property and equipment, net	$	5,119	$	8,754

Depreciation and amortization expense related to property and equipment, net was $3.2 million, $3.6 million and $3.5 million in 2023, 2022 and 2021, respectively. There were no material impairments of property and equipment in 2023, 2022 and 2021.

As of December 31, 2023 and 2022, the net book value of software implementation costs related to hosting arrangements was $3.2 million and $3.5 million, respectively, and the amortization expense was immaterial for all periods presented.

Intangible Assets, Net

Goodwill and intangible assets, net consisted of the following:


	December 31,
(in thousands)	2023		2022
Finite-lived assets, net of accumulated amortization of $639 and $61, respectively	$	41,871	$	2,368
Indefinite-lived assets - IPR&D		28,859		2,620
Goodwill		943		943
Total Intangible assets, net	$	71,673	$	5,931

Amortization expense related to finite-lived intangible assets was immaterial in all periods presented. As of December 31, 2023, amortization expense related to finite-lived assets for each of the five succeeding fiscal years will be approximately $3.8 million. The weighted average remaining life of the finite-lived assets is 11.4 years on December 31, 2023. No impairment charges were recognized for goodwill or intangible assets during 2023, 2022 or 2021. During 2023, the Company’s intangible assets increased due to assets acquired in the Surface Acquisition (see Note 6. Surface Acquisition) and capitalized milestone payments, including $25.0 million to Junshi Biosciences (see Note 7. Collaborations and Other Arrangements).

Accrued and Other Current Liabilities

Accrued and other current liabilities consisted of the following:


	December 31,		December 31,
(in thousands)	2023		2022
Accrued commercial and research and development manufacturing	$	23,470	$	21,774
Accrued co-development costs and milestone payments		26,812		8,356
Accrued royalties		42,031		5,015
Accrued other		7,628		10,634
Lease liabilities, current		2,145		4,318
Contingent consideration, current		3,300		—
Total Accrued and other current liabilities	$	105,386	$	50,097

Other Liabilities, Non-current

Other liabilities, non-current consisted of the following:


	December 31,		December 31,
(in thousands)	2023		2022
Contingent consideration, non-current	$	1,172	$	102
Deferred tax liability		1,102		—
Other		10,287		3,365
Total Other liabilities, non-current	$	12,561	$	3,467