Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 16,831 $ 21,092
Short-term investments 34,992 39,712
Income taxes receivable 188 302
Prepaid expenses and other current assets 2,235 1,338
Total current assets 54,246 62,444
Intangible asset, net 1,290 1,719
Property and equipment, net 62 69
Restricted cash 34 34
Other assets 2,488 2,567
Total assets 58,120 66,833
Current liabilities:    
Accounts payable 2,235 2,774
Accrued expenses 3,599 4,346
Derivative liability 187 196
Other current liabilities 1,776 1,748
Total current liabilities 7,797 9,064
Long-term debt, less current portion 10,877 10,094
Royalty-linked notes 19,258 18,372
Other liabilities 1,231 1,304
Total liabilities 39,163 38,834
Commitments and contingencies (Note 15)
Shareholders' equity    
Undesignated preferred shares, $0.01 par value per share: 100,000,000 shares authorized at March 31, 2023 and December 31, 2022; no shares issued at March 31, 2023 and December 31, 2022
Ordinary shares, $0.01 par value per share: 20,000,000 shares authorized at March 31, 2023 and December 31, 2022, 12,805,833 shares issued at March 31, 2023; 12,598,641 shares issued at December 31, 2022 128 126
Additional paid-in capital 451,776 451,150
Accumulated deficit (432,816) (422,927)
Accumulated other comprehensive loss (131) (350)
Total shareholders' equity 18,957 27,999
Total liabilities and shareholders' equity $ 58,120 $ 66,833