Accrued Expenses and Other Current Liabilities
|3 Months Ended|
Mar. 31, 2021
|Accrued Liabilities and Other Liabilities [Abstract]|
|Accrued Expenses and Other Current Liabilities||Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities as of March 31, 2021 and December 31, 2020 consisted of the following (in thousands):
The $2.5 million increase in the research and development accrual as of March 31, 2021 was driven by an increase in manufacturing activities for CERC-002 to support the program’s clinical development.
During the first quarter of 2021, the Company’s inventory on hand became short-dated (which the Company considers inventory within six months of expiration) due to manufacturing delays. The Company records a full allowance for the returns on the sale of short-dated inventory given the high likelihood of return, which was the main driver of the increase in sales returns and allowances as of March 31, 2021.
The entire disclosure for accounts payable, accrued expenses, and other liabilities that are classified as current at the end of the reporting period.
No definition available.