Accrued expenses and other current liabilities consist of the following (in thousands):


	December 31, 2023		December 31, 2022
Accrued contingent obligation, refer to Note 10	$	43,280	$	—
Employee compensation and related benefits		21,774		19,122
Research costs		9,804		4,844
Process development and manufacturing costs		4,697		5,080
Professional fees		3,468		6,751
Equipment financing costs		484		1,853
Other		28,157		12,262
Total	$	111,664	$	49,912

The Company received correspondence from a research institution regarding a confidentiality agreement between such institution and the Company. The confidentiality agreement related to certain technology that the Company evaluated for development in connection with certain of its programs. The correspondence alleged that the Company breached the terms of the confidentiality agreement, misappropriated trade secrets and other confidential information of such institution, engaged in unfair and deceptive trade practices, and was unjustly enriched in connection with developing its therapeutics, including BEAM-302. The research institution claimed that it is entitled to monetary damages (including damages for the apportioned value of the Company and enhanced damages for an alleged willful violation) and certain ongoing royalty and/or milestone payments related to the technology that is the subject of the alleged breaches of contract, among other possible remedies. No complaint has been filed, and the Company continues to discuss the matter with the research institution. As of December 31, 2023, no amount of loss is determinable and the Company had a liability accrued of $21.3 million included within Other in the table above for the minimum amount in the range of loss based on its settlement offer. The ultimate resolution of this matter could require a cash payment, ongoing royalty and/or milestone payments and result in a material charge in excess of the amount accrued as of December 31, 2023.