Quarterly report pursuant to Section 13 or 15(d)

Accrued Expenses And Other Current Liabilities

v3.20.1
Accrued Expenses And Other Current Liabilities
3 Months Ended
Mar. 31, 2020
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 March 31, 2020 and December 31, 2019 consisted of the following: 
 
 
As of
 
 
March 31, 2020
 
December 31, 2019
Research and development expenses
 
$
1,873,361

 
$
920,901

Compensation and benefits
 
1,413,014

 
1,591,964

General and administrative
 
1,035,454

 
120,056

Sales and marketing
 
207,950

 
360,016

Sales returns and allowances
 
1,361,410

 
2,284,175

Medicaid rebates
 
95,410

 
118,271

Other
 
207,606

 
244,869

Total accrued expenses and other current liabilities
 
$
6,194,205

 
$
5,640,252



During the first quarter of 2020, the Company and an executive entered into a Separation Agreement (the "Separation Agreement") in which the executive resigned his employment at the Company, effective June 30, 2020 (the "Termination Date"). Following the Termination Date and subject to the executive entering into a release at that time, the executive will receive continued payments of his base salary for a total of nine months, which resulted in an accrual of $0.3 million recognized in accrued expenses and other current liabilities on the Company's accompanying condensed consolidated balance sheet as of March 31, 2020 and is shown within the compensation and benefits line above. Additionally, the executive's unvested stock options as of his Termination Date will immediately vest and be exercisable until 90 days following the Termination Date and his outstanding Restricted Stock Units will immediately vest.