Borrowings (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Summary of Carrying Amount of Borrowings

Carrying amount of borrowings consist of the following (in thousands):

	September 30, 2019		December 31, 2018
Deerfield Credit Facility	$	—	$	11,298
Senior convertible notes		9,957		19,099
Midcap Credit Facility		38,798		—
Mann Group promissory notes		70,019		72,089
Total debt - net carrying amount	$	118,774	$	102,486

Schedule of Line of Credit Agreement With a New Secured Lender

During the third quarter, the Company discharged its obligations to its former senior secured lender, entered into a credit agreement with a new senior secured lender and restructured the obligations owed to its other lenders, as summarized in the following table:

Obligation

As of June 30, 2019

As of September 30, 2019

Amount Due

Annual interest rate

Maturity date

Conversion price

Amount Due

Annual interest rate

Maturity date

Conversion price

Deerfield Credit Facility

$4.0 million

9.75

%

July 2019

N/A

—

—

—

—

$5.0 million

9.75

%

August 2019

N/A

—

—

—

—

MidCap Credit Facility

—

—

—

—

$40.0 million

one-month LIBOR (2% floor) plus 6.75%

August 2024

N/A

Senior convertible notes

$18.7 million

5.75

%

October 2021

$5.15 per share

$5.0 million

5.75%

November 2024

$3.00 per share

June 2020 note

$2.6 million

—

June 2020

N/A

December 2020 notes

$2.6 million

—

December 2020

N/A

Mann Group promissory    convertible note

$80.6 million (including accrued interest paid-in-kind)

5.84

%

July 2021

$4.00 per share

$35.0 million

7.00%

November 2024

$2.50 per share

Mann Group promissory    non-convertible note

$35.1 million

7.00%

November 2024

N/A

Schedule of Amortization of Premium and Accretion of Debt Issuance Costs

Amortization of the premium and accretion of debt issuance costs related to all borrowings for the three and nine months ended September 30, 2019 and 2018 are as follows (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Amortization of debt premium	$	858	$	94	$	1,049	$	244
Amortization of debt discount	$	8	$	375	$	149	$	1,072
Accretion expense - debt issuance cost	$	34	$	22	$	84	$	47