Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2021
Dec. 31, 2020
Current assets:    
Cash and cash equivalents $ 27,446 $ 14,508
Short-term investments 53,898 0
Prepaid expenses and other current assets 1,922 6,904
Current portion of restricted cash   60
Total current assets 83,266 21,472
Intangible asset, net 3,435  
Property and equipment, net 91 421
Restricted cash, less current portion 64 248
Other assets 4,653 10,651
Total assets 91,509 32,792
Current liabilities:    
Accounts payable 878 816
Accrued expenses 1,165 1,829
Derivative liability 6,058 28,865
Current portion of long-term debt 1,627 6,374
Current portion of royalty-linked notes   114
Other current liabilities 2,992 3,598
Income taxes payable 221 102
Total current liabilities 12,941 41,698
Long-term debt, less current portion 6,930 22,462
Royalty-linked notes, less current portion 17,968 13,389
Other liabilities 3,436 5,802
Total liabilities 41,275 83,351
Commitments and contingencies (Note 15)
Shareholders’ equity / (deficit):    
Undesignated preferred shares, $0.01 par value per share: 100,000,000 shares authorized at December 31, 2021 and December 31, 2020; no shares issued at December 31, 2021 and December 31, 2020
Ordinary shares, $0.01 par value per share: 300,000,000 shares authorized, 182,775,282 shares issued at December 31, 2021; 150,000,000 shares authorized, 49,431,028 shares issued at December 31, 2020 1,827 494
Additional paid-in capital 426,900 235,876
Accumulated deficit (378,493) (286,929)
Total shareholders' equity / (deficit) 50,234 (50,559)
Total liabilities and shareholders’ equity / (deficit) $ 91,509 $ 32,792