Note 11 — Accrued expenses and other current liabilities

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

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In 2016, the Company entered into a supply agreement with ThermoFisher for the supply of the Dynabeads® CD3/CD28 technology. The supply agreement runs until December 31, 2025. Under the supply agreement, the Company is required to purchase its requirements for CD3/CD28 magnetic bead product exclusively from ThermoFisher for a period of 5 years. There are minimum purchasing obligations of $5.0 million payable in 2020, which have been recognized in research and development expense in the three months ended September 30, 2019.  The related per-share amount for both the three and nine months ended September 30, 2019 is $(0.01). Management regularly updates the assessment of the utility of the Dynabeads, and in the three months ended September 30, 2019, considers that there is sufficient uncertainty surrounding the utility of the Dynabeads, which is dependent upon current study trajectories, the Company’s clinical pipeline, manufacturing methods and undetermined future projects, to result in the $5.0 million purchase commitment being recognized in the period.