Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 66,640 $ 14,508
Short-term investments 33,868 0
Prepaid expenses and other current assets 3,695 6,904
Current portion of restricted cash 30 60
Total current assets 104,233 21,472
Property and equipment, net 387 421
Restricted cash, less current portion 70 248
Other assets 10,475 10,651
Total assets 115,165 32,792
Current liabilities:    
Accounts payable 1,853 816
Accrued expenses 2,077 1,829
Derivative liability 28,868 28,865
Current portion of long-term debt 6,431 6,374
Current portion of royalty-linked notes 190 114
Income taxes payable 161 102
Other current liabilities 4,229 3,598
Total current liabilities 43,809 41,698
Long-term debt, less current portion 6,094 22,462
Royalty-linked notes, less current portion 28,798 13,389
Other liabilities 4,947 5,802
Total liabilities 83,648 83,351
Commitments and contingencies (Note 14)
Shareholders’ equity / (deficit):    
Undesignated preferred shares, $0.01 par value per share: 100,000,000 shares authorized at March 31, 2021 and December 31, 2020; no shares issued at March 31, 2021 and December 31, 2020
Ordinary shares, $0.01 par value per share: 300,000,000 shares authorized, 179,137,432 shares issued at March 31, 2021; 150,000,000 shares authorized, 49,431,028 shares issued at December 31, 2020 1,787 494
Additional paid-in capital 415,580 235,876
Accumulated deficit (385,850) (286,929)
Total shareholders' equity / (deficit) 31,517 (50,559)
Total liabilities and shareholders’ equity / (deficit) $ 115,165 $ 32,792