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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
[1]
Current assets:    
Cash $ 53,312 $ 56,688
Trade and other receivables, net 1,312 2,933
Income tax receivable 1,526  
Prepaid expenses and other current assets 205 352
Total current assets 56,355 59,973
Property and equipment, net 28 34
Operating lease right-of-use assets 473 510
Long-term royalty receivables 34,375 34,375
Equity securities 408 681
Other assets 151 151
Total assets 91,790 95,724
Current liabilities:    
Accounts payable 717 614
Accrued and other liabilities 709 945
Contingent consideration under royalty purchase agreements 75 75
Operating lease liabilities 167 163
Unearned revenue recognized under units-of-revenue method 1,267 1,096
Contract liabilities 798 798
Current portion of long-term debt 6,390 5,184
Total current liabilities 10,123 8,875
Unearned revenue recognized under units-of-revenue method – long-term 14,842 15,317
Long-term debt 25,141 27,093
Long-term operating lease liabilities 365 408
Other liabilities – long-term 200 43
Total liabilities 50,671 51,736
Commitments and Contingencies (Note 10)
Stockholders’ equity:    
Convertible preferred stock, $0.05 par value, 1,000,000 shares authorized, 6,256 shares issued and outstanding at March 31, 2020 and December 31, 2019
Common stock, $0.0075 par value, 277,333,332 shares authorized, 9,761,901 and 9,758,583 shares issued and outstanding at March 31, 2020 and December 31, 2019, respectively 73 73
Additional paid-in capital 1,240,188 1,238,299
Accumulated deficit (1,199,142) (1,194,384)
Total stockholders’ equity 41,119 43,988
Total liabilities and stockholders’ equity $ 91,790 $ 95,724
[1] The consolidated balance sheet as of December 31, 2019 has been derived from the audited consolidated financial statements as of that date included in the Company’s Annual Report on Form 10K for the year ended December 31, 2019.

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