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
Jun. 30, 2019
Dec. 31, 2018
 [1]
Current assets:    
Cash $ 42,327 $ 45,780
Trade and other receivables 2,577 1,468
Prepaid expenses and other current assets 619 378
Total current assets 45,523 47,626
Property and equipment, net 46 59
Operating lease right-of-use assets 6,417  
Long-term royalty receivables 24,375 15,000
Long-term equity securities 1,138 392
Other assets 835 708
Total assets 78,334 63,785
Current liabilities:    
Accounts payable 1,369 1,244
Accrued and other liabilities 615 2,382
Contingent consideration under royalty purchase agreements 3,075  
Operating lease liabilities 2,297  
Unearned revenue recognized under units-of-revenue method 851 490
Contract liabilities 798 798
Current portion of long-term debt 2,675 789
Total current liabilities 11,680 5,703
Unearned revenue recognized under units-of-revenue method – long-term 16,214 17,017
Long-term debt 23,348 21,690
Long-term operating lease liabilities 5,806  
Other liabilities – long-term 294 590
Total liabilities 57,342 45,000
Commitments and Contingencies (Note 11)
Stockholders’ equity:    
Convertible preferred stock, $0.05 par value, 1,000,000 shares authorized, 6,256 shares issued and outstanding at June 30, 2019 and December 31, 2018
Common stock, $0.0075 par value, 277,333,332 shares authorized, 8,727,617 and 8,690,723 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively 65 65
Additional paid-in capital 1,214,168 1,211,122
Accumulated deficit (1,193,241) (1,192,402)
Total stockholders’ equity 20,992 18,785
Total liabilities and stockholders’ equity $ 78,334 $ 63,785
[1] The condensed consolidated balance sheet as of December 31, 2018 has been derived from the audited consolidated financial statements as of that date included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018.