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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 1,521 $ 7,105
Short-term investments 121,636 164,743
OMIDRIA contract royalty asset, current 29,243 29,373
Receivables 6,394 8,096
Prepaid expense and other assets 6,127 8,581
Total current assets 164,921 217,898
OMIDRIA contract royalty asset, non-current 129,488 138,736
Right of use assets 15,933 18,631
Property and equipment, net 1,939 1,950
Restricted investments 1,054 1,054
Total assets 313,335 378,269
Current liabilities:    
Accounts payable 7,723 7,712
Accrued expenses 23,246 31,868
OMIDRIA royalty obligation, current 18,884 8,576
Lease liabilities, current 5,770 5,160
Total current liabilities 55,623 53,316
Convertible senior notes, net 97,032 213,155
Long-term debt, net 92,427 0
OMIDRIA royalty obligation, non-current 205,089 116,550
Lease liabilities, non-current 14,242 18,143
Other accrued liabilities, non-current 3,094 2,088
Commitments and Contingencies  
Shareholders’ equity (deficit):    
Preferred stock, par value $0.01 per share, 20,000,000 shares authorized; none issued and outstanding at September 30, 2024 and December 31, 2023. 0 0
Common stock, par value $0.01 per share, 150,000,000 shares authorized at September 30, 2024 and December 31, 2023; 57,949,760 and 61,128,597 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively. 579 611
Additional paid-in capital 724,236 727,936
Accumulated deficit (878,987) (753,530)
Total shareholders’ deficit (154,172) (24,983)
Total liabilities and shareholders’ equity (deficit) $ 313,335 $ 378,269