Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 21,092 $ 27,446
Short-term investments 39,712 53,898
Prepaid expenses and other current assets 1,338 1,922
Income taxes receivable 302  
Total current assets 62,444 83,266
Intangible asset, net 1,719 3,435
Property and equipment, net 69 91
Restricted cash 34 64
Other assets 2,567 4,653
Total assets 66,833 91,509
Current liabilities:    
Accounts payable 2,774 878
Accrued expenses 4,346 1,165
Derivative liability 196 6,058
Current portion of long-term debt   1,627
Other current liabilities 1,748 2,992
Income taxes payable   221
Total current liabilities 9,064 12,941
Long-term debt, less current portion 10,094 6,930
Royalty-linked notes 18,372 17,968
Other liabilities 1,304 3,436
Total liabilities 38,834 41,275
Commitments and contingencies (Note 15)
Shareholders' equity    
Undesignated preferred shares, $0.01 par value per share: 100,000,000 shares authorized at December 31, 2022 and December 31, 2021; no shares issued at December 31, 2022 and December 31, 2021
Ordinary shares, $0.01 par value per share: 20,000,000 shares authorized at December 31, 2022 and December 31, 2021, 12,598,641 shares issued at December 31, 2022; 12,185,019 shares issued at December 31, 2021 126 122
Additional paid-in capital 451,150 428,605
Accumulated deficit (422,927) (378,493)
Accumulated other comprehensive loss (350)  
Total shareholders' equity 27,999 50,234
Total liabilities and shareholders' equity $ 66,833 $ 91,509