XML 60 R40.htm IDEA: XBRL DOCUMENT v3.22.4
DEBT (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of debt
The following table reflects the Company’s debt as of December 31, 2022 and 2021 (in thousands):
December 31,
20222021
6.5% Senior Convertible Notes due 2027
$70,000 $— 
13.0% Senior Secured Notes due 2024
— 70,750 
Royalty Rights obligation470 2,743 
Total principal amount70,470 73,493 
Plus: derivative liability for embedded conversion feature252 — 
Less: unamortized debt issuance costs(3,849)— 
Carrying value66,873 73,493 
Less: current portion of long-term debt(470)(12,174)
Long-term debt, net$66,403 $61,319 
Schedule of carrying values convertible notes
The following table reflects the carrying balance of the 2027 Convertible Notes as of December 31, 2022 (in thousands):

December 31,
2022
Principal balance$70,000 
Derivative liability for embedded conversion feature252 
Unamortized debt issuance costs(3,849)
Carrying balance$66,403 
Schedule of interest expense The following table reflects debt related interest included in Interest expense in the Company’s Consolidated Statements of Comprehensive Income (Loss) as of December 31, 2022 and 2021 (in thousands):
Year ended December 31,
20222021
Interest on 2027 Convertible Notes$1,592 $— 
Interest on 2024 Secured Notes6,065 10,020 
Amortization of Royalty Rights (1)
68 185 
Amortization of debt issuance costs236 15 
Total interest expense$7,961 $10,220 

(1)As a result of the extinguishment of the Royalty Rights obligation, there will be no additional amortization expense recognized in future periods.