Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 20,489 $ 27,446
Short-term investments 43,834 53,898
Current portion of restricted cash 30  
Income taxes receivable 413  
Prepaid expenses and other current assets 1,886 1,922
Total current assets 66,652 83,266
Intangible asset, net 2,148 3,435
Property and equipment, net 34 91
Restricted cash, less current portion 34 64
Other assets 2,687 4,653
Total assets 71,555 91,509
Current liabilities:    
Accounts payable 1,229 878
Accrued expenses 3,732 1,165
Derivative liability 610 6,058
Current portion of long-term debt   1,627
Income taxes payable   221
Other current liabilities 1,938 2,992
Total current liabilities 7,509 12,941
Long-term debt, less current portion 9,298 6,930
Royalty-linked notes 20,917 17,968
Other liabilities 1,282 3,436
Total liabilities 39,006 41,275
Commitments and contingencies (Note 15)
Shareholders' equity    
Undesignated preferred shares, $0.01 par value per share: 100,000,000 shares authorized at September 30, 2022 and December 31, 2021; no shares issued at September 30, 2022 and December 31, 2021
Ordinary shares, $0.01 par value per share: 20,000,000 shares authorized at September 30, 2022 and 20,000,000 shares authorized at December 31, 2021, 12,233,374 shares issued at September 30, 2022; 12,185,018 shares issued at December 31, 2021 122 122
Additional paid-in capital 450,264 428,605
Accumulated deficit (417,837) (378,493)
Total shareholders' equity 32,549 50,234
Total liabilities and shareholders' equity $ 71,555 $ 91,509