Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Instrument [Line Items]

Schedule of Long-Term Debt and Unamortized Discount Balances

Borrowings of the Scilex Notes consisted of the following (in thousands):

	June 30, 2022		December 31, 2021
Principal	$	74,877	$	133,998
Unamortized debt discount		—		(30,601	)
Unamortized debt issuance costs		—		(2,235	)
Carrying value	$	74,877	$	101,162
Estimated fair value	$	39,500	$	115,400

Future Minimum Payments under Amended and Restated Loan and Security Agreement

Future minimum payments under the Scilex Notes, based on a percentage of projected net sales of ZTlido, are estimated as follows (in thousands):

Year Ending December 31,
2022 (Remaining six months)	$	4,413
2023		12,005
2024		13,637
2025		14,746
2026		30,076
Total future minimum payments		74,877
Current portion		(10,131	)
Long-term portion of Scilex Notes	$	64,746

ACEA Therapeutics, Inc

Debt Instrument [Line Items]

Schedule of Long-Term Debt and Unamortized Discount Balances

Borrowings under significant debt arrangements assumed in connection with the Company’s acquisition of ACEA consisted of the following (in thousands):

	June 30, 2022			December 31, 2021
Principal	$	27,555		$	29,048
Unamortized debt discount		(9,154	)		(10,642	)
Carrying value	$	18,401		$	18,406
Estimated fair value	$	14,200		$	17,100