Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
Current assets:    
Cash and cash equivalents $ 51,241,000 $ 44,551,000
Short-term investments 0 40,000,000
Prepaid expenses and other current assets 7,953,000 8,390,000
Current portion of restricted cash 30,000 30,000
Total current assets 59,224,000 92,971,000
Property and equipment, net 648,000 700,000
Restricted cash, less current portion 60,000 90,000
Other assets 11,361,000 4,110,000
Total assets 71,293,000 97,871,000
Current liabilities:    
Accounts payable 10,160,000 4,041,000
Accrued expenses 13,956,000 7,046,000
Current portion of long-term debt 3,496,000 1,019,000
Income taxes payable 160,000 113,000
Other current liabilities 481,000  
Total current liabilities 28,253,000 12,219,000
Long-term debt, less current portion 10,771,000 13,079,000
Other liabilities 7,693,000 951,000
Total liabilities 46,717,000 26,249,000
Commitments and contingencies (Note 12)
Shareholders’ equity:    
Ordinary shares, $0.01 par value per share: 50,000,000 shares authorized at June 30, 2019 and December 31, 2018; 14,407,202 shares issued at June 30, 2019; 14,352,046 shares issued at December 31, 2018 144,000 144,000
Additional paid-in capital 204,443,000 203,271,000
Accumulated deficit (180,011,000) (131,793,000)
Total shareholders' equity 24,576,000 71,622,000
Total liabilities and shareholders’ equity $ 71,293,000 $ 97,871,000