DEBT (Tables)

3 Months Ended

Mar. 31, 2023

Long-Term Debt, Unclassified [Abstract]

Schedule of Long-Term Debt

The following table reflects the Company’s debt as of March 31, 2023 and December 31, 2022 (in thousands):

	March 31, 2023		December 31, 2022
6.5% Convertible Senior Secured Notes due 2027	$	40,000	$	70,000
Royalty Rights obligation	470		470
Total principal amount	40,470		70,470
Plus: derivative liability for embedded conversion feature	252		252
Less: unamortized debt issuance costs	(2,101)		(3,849)
Carrying value	38,621		66,873
Less: current portion of long-term debt	(470)		(470)
Long-term debt, net	$	38,151	$	66,403

Schedule of Carrying Values Convertible Notes

The following table reflects the carrying balance of the 2027 Convertible Notes as of March 31, 2023 and December 31, 2022 (in thousands):

	March 31, 2023		December 31, 2022
Principal balance	$	40,000	$	70,000
Derivative liability for embedded conversion feature	252		252
Unamortized debt issuance costs	(2,101)		(3,849)
Carrying balance	$	38,151	$	66,403

Schedule of Debt Related Interest

The following table reflects debt-related interest included in Interest expense in the Company’s Condensed Consolidated Statements of Comprehensive (Loss) Income for the three months ended March 31, 2023 and 2022 (in thousands):

	Three Months Ended March 31,
	2023		2022
Interest on 2027 Convertible Notes	$	975	$	—
Interest on 2024 Secured Notes	—		2,299
Amortization of Royalty Rights(1)	—		28
Amortization of debt issuance costs	147		—
Total interest expense	$	1,122	$	2,327

(1)As a result of the extinguishment of the Royalty Rights obligation in the fourth quarter of 2022, there will be no additional amortization expense recognized in future periods.