CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents	$ 293,856	$ 176,225
Accounts receivable	35	7,500
Unbilled revenue	11	1,001
Contract assets		3,631
Non-cash royalty receivable	22,451	15,116
Prepaid and other current assets	7,901	5,425
Total current assets	324,254	208,898
Property and equipment, net of accumulated depreciation	5,760	6,993
Operating lease right-of-use assets	14,072	15,587
Other assets	10,986	3,784
Total assets	355,072	235,262
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
Accounts payable	9,538	9,933
Accrued compensation	4,620	8,991
Other accrued liabilities	29,320	13,932
Convertible 4.5% senior notes, net of deferred financing costs of $7	2,093
Current portion of liability related to the sale of future royalties, net of deferred financing costs of $319 and $635, respectively	44,357	41,274
Current portion of operating lease liability	3,146	2,971
Current portion of deferred revenue	29,249	309
Total current liabilities	122,323	77,410
Deferred revenue, net of current portion	80,860	127,123
Operating lease liability, net of current portion	18,651	21,798
Convertible 4.5% senior notes, net of deferred financing costs of $22		2,078
Liability related to the sale of future royalties, net of current portion and deferred financing costs of $584 and $859, respectively	41,082	82,267
Other long-term liabilities	2,586	707
Total liabilities	265,502	311,383
Commitments and contingencies (Note K)
Shareholders deficit:
Preferred stock, $.01 par value; authorized 5,000 shares; no shares issued and outstanding as of December 31, 2020 and December 31, 2019, respectively
Common stock, $.01 par value; authorized 300,000 and 200,000 shares; issued and outstanding 194,998 and 150,136 shares as of December 31, 2020 and December 31, 2019, respectively	1,950	1,501
Additional paid-in capital	1,419,460	1,209,846
Accumulated deficit	(1,331,840)	(1,287,468)
Total shareholders' equity (deficit)	89,570	(76,121)
Total liabilities and shareholders' equity (deficit)	$ 355,072	$ 235,262