Quarterly report pursuant to Section 13 or 15(d)

Accrued expenses and other current liabilities

v3.20.2
Accrued expenses and other current liabilities
9 Months Ended
Sep. 30, 2020
Accrued expenses and other current liabilities  
Accrued expenses and other current liabilities

Note 8 Accrued expenses and other current liabilities

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

September 30, 

December 31, 

    

2020

    

2019

Accrued clinical and development expenditure

$

11,097

$

8,782

Accrued employee expenses

8,127

6,863

Other accrued expenditure

2,784

2,662

Accrued purchase commitments

2,500

5,000

Other

 

107

 

56

$

24,615

$

23,363

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. In the three months ended September 30, 2019, management considered that there was sufficient uncertainty surrounding the utility of the Dynabeads to result in $5.0 million of minimum purchasing obligations being recognized in in research and development expense in that period. The related per-share amount for both the three and nine months ended September 30, 2019 is $(0.01). Of the minimum purchasing obligations of $5.0 million, $2.5 million was paid during the nine-months ended September 30, 2020. The remaining minimum purchase obligations of $2.5 million are payable within the next year, and are included within accrued purchase commitments above.