Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v3.24.1.u1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 136,225 $ 153,290
Short-term restricted cash 160 160
Short-term equity securities 413 161
Trade and other receivables, net 3 1,004
Short-term royalty and commercial payment receivables 9,819 14,215
Prepaid expenses and other current assets 270 483
Total current assets 146,890 169,313
Long-term restricted cash 6,016 6,100
Property and equipment, net 40 25
Operating lease right-of-use assets 364 378
Long-term royalty and commercial payment receivables 65,577 57,952
Other assets - long term 533 533
Total assets 219,420 234,301
Current liabilities:    
Accounts payable 1,515 653
Accrued and other liabilities 1,299 2,768
Contingent consideration under RPAs, AAAs and CPPAs 3,000 7,000
Operating lease liabilities 55 54
Unearned revenue recognized under units-of-revenue method 2,159 2,113
Preferred stock dividend accrual 1,368 1,368
Current portion of long-term debt 6,144 5,543
Total current liabilities 15,540 19,499
Unearned revenue recognized under units-of-revenue method - long-term 6,692 7,228
Long-term operating lease liabilities 319 335
Long-term debt 114,528 118,518
Total liabilities 137,079 145,580
Commitments and Contingencies (Note 10)
Stockholders' equity:    
Common stock, $0.0075 par value, 277,333,332 shares authorized, 11,636,355 and 11,495,492 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 87 86
Additional paid-in capital 1,314,036 1,311,809
Accumulated deficit (1,231,831) (1,223,223)
Total stockholders' equity 82,341 88,721
Total liabilities and stockholders' equity 219,420 234,301
8.625% Series A Cumulative, Perpetual Preferred Stock    
Stockholders' equity:    
Preferred Stock 49 49
8.375% Series B Cumulative, Perpetual Preferred Stock    
Stockholders' equity:    
Preferred Stock
Convertible preferred stock    
Stockholders' equity:    
Preferred Stock