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DEBT (Tables)
 9 Months Ended
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, 2023December 31, 2022
6.5% Convertible Senior Secured Notes due 2027
$40,000$70,000
Royalty Rights obligation—470
Total principal amount40,00070,470
Plus: derivative liability for embedded conversion feature764252
Less: unamortized debt issuance costs(1,898)(3,849)
Carrying value38,86666,873
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, 2023December 31, 2022
Principal balance$40,000 $70,000 
Derivative liability for embedded conversion feature764 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,
2023202220232022
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 costs102—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.