Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.25.0.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 24,125,000 $ 6,071,000
Short-term investments 0 17,859,000
Prepaid expenses and other current assets 614,000 1,628,000
Income taxes receivable 48,000 38,000
Total current assets 24,787,000 25,596,000
Intangible asset, net 19,746,000  
Property and equipment, net 23,000 51,000
Restricted cash 34,000 34,000
Other assets 5,000 578,000
Total assets 44,595,000 26,259,000
Current liabilities:    
Accounts payable 251,000 4,996,000
Accrued expenses 2,651,000 7,761,000
Exchangeable notes 14,463,000  
Other current liabilities 240,000 761,000
Total current liabilities 17,605,000 13,518,000
Long-term debt - Exchangeable notes   11,453,000
Long-term debt - Pfizer Promissory Note 20,300,000  
Royalty-linked notes 10,771,000 7,503,000
Other liabilities 0 188,000
Total liabilities 48,676,000 32,662,000
Commitments and contingencies (Note 16)
Shareholders' deficit    
Undesignated preferred shares, $0.01 par value per share: 100,000,000 shares authorized at December 31, 2024 and December 31,2023; no shares issued at December 31, 2024 and December 31, 2023
Ordinary shares, $0.01 par value per share: 80,000,000 shares authorized at December 31, 2024 and December 31, 2023, 31,534,233 shares issued at December 31, 2024; 13,499,003 shares issued at December 31, 2023 315,000 135,000
Additional paid-in capital 481,676,000 454,759,000
Accumulated deficit (486,072,000) (461,298,000)
Accumulated other comprehensive gain 0 1,000
Total shareholders' deficit (4,081,000) (6,403,000)
Total liabilities and shareholders' deficit $ 44,595,000 $ 26,259,000