Quarterly report pursuant to Section 13 or 15(d)

Accrued Liabilities and other Long-Term Liabilities (Tables)

v3.20.2
Accrued Liabilities and other Long-Term Liabilities (Tables)
9 Months Ended
Sep. 30, 2020
Accrued Liabilities and other Long-Term Liabilities  
Schedule of accrued expenses and other long-term liabilities

Accrued expenses and other long-term liabilities consisted of the following:

September 30, 

December 31,

($ in thousands)

    

2020

    

2019

Accrued expenses:

 

  

 

  

Professional fees

$

1,672

$

1,153

Salaries, bonus and related benefits

 

5,677

 

6,683

Accrued expense - related party

 

19

 

Research and development

 

4,604

 

4,215

Research and development - manufacturing

 

 

1,017

Research and development - license maintenance fees

 

629

 

361

Research and development - milestones

 

600

 

Accrued royalties payable

 

1,908

 

2,320

Accrued coupon expense

 

5,476

 

8,391

Other

 

547

 

1,259

Total accrued expenses

$

21,132

$

25,399

Other long-term liabilities:

 

  

 

  

Deferred rent and long-term lease abandonment charge1

$

1,996

$

2,136

Long-term notes payable, net (Journey)

Ximino agreement2

3,456

4,990

Oral acne treatment agreement3

2,753

Total other long-term liabilities

$

8,205

$

7,126

Note 1:

As of September 30, 2020, and December 31, 2019, the balance consists of deferred charges related to build-out of the New York facility.

Note 2:

As of September 30, 2020, and December 31, 2019, the imputed interest discount was $1.5 million and $2.0 million, respectively, in connection with its acquisition of Ximino in July 2019. Amortization of interest discount was $0.5 million for the nine months ended September 30, 2020, and $0.1 million for the nine months ended September 30, 2019. As of September 30, 2020, $2.0 million of note payable was classified as short-term.

Note 3:

As of September 30, 2020, the imputed discount balance was $0.2 million.  The imputed interest discount was calculated utilizing a 4.00% effective rate, which represents the market rate for an asset-backed three year loan, secured by receivables. As of September 30, 2020, $1.0 million of note payable was classified as short-term.