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DEBT (Tables) | 9 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Long-Term Debt | The following table reflects the Company’s debt as of September 30, 2023 and December 31, 2022 (in thousands):
| September 30, 2023 |  | December 31, 2022
6.5% Convertible Senior Secured Notes due 2027 | $ | 40,000 |  | $ | 70,000
Royalty Rights obligation | — |  | 470
Total principal amount | 40,000 |  | 70,470
Plus: derivative liability for embedded conversion feature | 764 |  | 252
Less: unamortized debt issuance costs | (1,898) |  | (3,849)
Carrying value | 38,866 |  | 66,873
Less: current portion of long-term debt | — |  | (470)
Long-term debt, net | $ | 38,866 |  |  | $ | 66,403
Schedule of Carrying Values Convertible Notes | The following table reflects the carrying balance of the 2027 Convertible Notes as of September 30, 2023 and December 31, 2022 (in thousands):
| September 30, 2023 |  | December 31, 2022
Principal balance | $ | 40,000 |  |  | $ | 70,000 |
Derivative liability for embedded conversion feature | 764 |  |  | 252 |
Unamortized debt issuance costs | (1,898) |  |  | (3,849) |
Carrying balance | $ | 38,866 |  |  | $ | 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 and nine months ended September 30, 2023 and 2022 (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Interest on 2027 Convertible Notes | $ | 650 |  | $ | 456 |  | $ | 2,275 |  | $ | 456
Interest on 2024 Secured Notes | — |  | 1,516 |  | — |  | 6,064
Amortization of Royalty Rights(1) | — |  | 80 |  | — |  | 128
Amortization of debt issuance costs | 102 |  | — |  | 350 |  | —
Total interest expense | $ | 752 |  | $ | 2,052 |  | $ | 2,625 |  | $ | 6,648
(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.

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