Post-effective amendment to a registration statement that is not immediately effective upon filing

Accounts Payable and Accrued Liabilities

v3.23.3
Accounts Payable and Accrued Liabilities
12 Months Ended
May 31, 2023
Accounts Payable and Accrued Liabilities  
Accounts Payable and Accrued Liabilities

Note 5. Accounts Payable and Accrued Liabilities

As of May 31, 2023 and 2022, the accounts payable balance was approximately $62.7 million and $68.0 million, respectively. The Company had two vendors that together accounted for approximately 72% and 73% of the total balance of accounts payable as of each respective date.

The components of accrued liabilities were as follows:

(in thousands)

    

May 31, 2023

    

May 31, 2022

Compensation and related expense

$

335

$

1,522

Legal fees and settlement

168

2,006

Clinical expense

187

3,727

Accrued inventory charges and expenses

 

4,978

 

1,392

License fees

862

150

Lease payable

139

134

Other liabilities

64

Total accrued liabilities

$

6,669

$

8,995

As of May 31, 2023 and 2022, the accrued legal fees and settlement balance was primarily related to legal fees.