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Leases (Tables)
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Schedule of Lease Costs Our operating and finance lease costs are summarized as follows:
 Three Months Ended March 31,
(in thousands)20242023
Finance lease:
Amortization of finance lease right-of-use asset (1)
$2,116 $2,318 
Interest on finance lease liability30 566 
Variable lease cost (2)
19 374 
Total finance lease costs2,165 3,258 
Operating leases:
Operating lease cost2,773 2,207 
Variable lease cost (3)
646 507 
Total operating lease costs3,419 2,714 
Total lease cost$5,584 $5,972 
(1)Amortization of the finance lease right-of-use asset started to be capitalized into inventories on the condensed consolidated balance sheets in the second quarter of 2023, as a result of the FDA approval of the PAS of the ABPS manufacturing facility.
(2)Variable finance lease cost includes validation, qualification, materials, and other related services which are not included in the lease liabilities and are expensed as incurred.
(3)Variable operating lease cost includes management fees, common area maintenance, property taxes, insurance and parking fees, which are not included in the lease liabilities and are expensed as incurred.
As of March 31, 2024, weighted-average remaining lease terms and discount rates are as follows:
ABPS Fill-and-Finish Line Lease
Other Operating Leases
All Operating Leases
Weighted-average remaining lease term (years)3.88.07.9
Weighted-average discount rate10.0 %10.0 %10.0 %
Schedule of Finance Lease, Liability Maturities
As of March 31, 2024, we have $0.4 million of accounts payable related to the fill-and-finish line lease under the ABPS Service Agreement. Additionally, we have maturities of our lease liabilities as follows:
(in thousands)
ABPS Fill-and-Finish Line Lease
Other Operating Leases
All Operating Leases
Year Ending December 31,
2024 remaining nine months$1,300 $7,063 $8,363 
2025— 10,854 10,854 
2026— 11,185 11,185 
2027— 4,536 4,536 
2028— 4,021 4,021 
2029 and thereafter— 24,565 24,565 
Total lease payments1,300 62,224 63,524 
Less imputed interest(21)(17,564)(17,585)
Present value of lease payments$1,279 $44,660 $45,939 
Schedule of Operating Lease, Liability Maturities
As of March 31, 2024, we have $0.4 million of accounts payable related to the fill-and-finish line lease under the ABPS Service Agreement. Additionally, we have maturities of our lease liabilities as follows:
(in thousands)
ABPS Fill-and-Finish Line Lease
Other Operating Leases
All Operating Leases
Year Ending December 31,
2024 remaining nine months$1,300 $7,063 $8,363 
2025— 10,854 10,854 
2026— 11,185 11,185 
2027— 4,536 4,536 
2028— 4,021 4,021 
2029 and thereafter— 24,565 24,565 
Total lease payments1,300 62,224 63,524 
Less imputed interest(21)(17,564)(17,585)
Present value of lease payments$1,279 $44,660 $45,939 
Schedule of Supplemental Cash Flow Information Supplemental cash flow information related to the leases was as follows:
Three Months Ended March 31,
(in thousands)20242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$2,555 $2,084 
Operating cash flows from finance lease$30 $566 
Financing cash flows from finance lease$4,227 $2,486 
Right-of-use assets obtained in exchange for lease liabilities
Finance lease$1,071 $23,735