Annual report pursuant to Section 13 and 15(d)

Accrued Expenses and Other Current Liabilities

v3.23.1
Accrued Expenses and Other Current Liabilities
 12 Months Ended
Dec. 31, 2022
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 December 31, 2022 and 2021 consisted of the following (in thousands):
 
  December 31,
  2022 2021
Research and development $ 6,293  $ 8,221 
Compensation and benefits 2,699  4,310 
Selling, general and administrative 1,008  1,386 
Commercial operations 1,694  1,733 
Royalty payment 508  375 
Lease liability, current 532  485 
Other 480  9 
Total accrued expenses and other current liabilities $ 13,214  $ 16,519 

Pursuant to the out-license of AVTX-007 to Apollo in 2022, Avalo and Apollo agreed to transition to Apollo responsibility for conducting the study of AVTX-007 for the treatment of adult-onset Still’s disease and certain manufacturing activities for the compound, with Avalo remaining responsible for continuing such activities at Apollo’s expense until such transition. The ‘Other’ line above includes $0.5 million of expense incurred by Apollo under specified third-party contracts that are in-process of being transitioned to Apollo. Apollo is contractually obligated to reimburse Avalo for these expenses and therefore we recognized a corresponding receivable within other receivables as of December 31, 2022.