RVL Pharmaceuticals (RVLPQ) 10-Q 15 Nov 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2021	Nov. 12, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Entity File Number	001-38709
Entity Registrant Name	Osmotica Pharmaceuticals plc
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	00-0000000
Entity Address, Address Line One	400 Crossing Boulevard
Entity Address, City or Town	Bridgewater
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	08807
City Area Code	908
Local Phone Number	809-1300
Title of 12(b) Security	Ordinary Shares
Trading Symbol	OSMT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		83,280,591
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001739426
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 8,352	$ 114,053
Accounts receivable, net	4,190	3,149
Inventories, net	824	1,831
Prepaid expenses and other current assets	10,019	12,592
Assets held for sale		41,529
Total current assets	23,385	173,154
Property, plant and equipment, net	851	2,391
Operating lease assets	1,651	1,953
Intangibles, net	27,210	35,090
Goodwill	55,847	55,847
Other non-current assets	603	373
Assets held for sale		102,141
Total assets	109,547	370,949
Current liabilities:
Trade accounts payable	4,449	3,128
Accrued liabilities	18,521	16,951
Current portion of debt, net of deferred financing costs	29,925
Current portion of obligation under finance leases	6	20
Current portion of lease liability	1,029	1,199
Income taxes payable - current portion		2
Liabilities held for sale		34,484
Total current liabilities	53,930	55,784
Long-term debt, net of non-current deferred financing costs		219,525
Long-term portion of lease liability	701	871
Income taxes payable - long term portion	1
Deferred taxes	165	345
Liabilities held for sale		568
Total liabilities	54,797	277,093
Commitments and contingencies (See Note 12)
Shareholders' equity:
Ordinary shares ($0.01 nominal value 400,000,000 shares authorized, 63,127,288 and 62,545,832 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively)	631	625
Preferred shares ($0.01 nominal value 40,000,000 shares authorized, no shares issued and outstanding)	0	0
Euro deferred shares (1.00 nominal value 25,000 shares authorized, no shares issued and outstanding)	0	0
Additional paid in capital	554,156	548,070
Accumulated deficit	(497,808)	(452,610)
Accumulated other comprehensive loss	(2,229)	(2,229)
Total shareholders' equity	54,750	93,856
Total liabilities and shareholders' equity	$ 109,547	$ 370,949

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals)	Sep. 30, 2021$ / sharesshares	Sep. 30, 2021€ / sharesshares	Dec. 31, 2020$ / sharesshares	Dec. 31, 2020€ / sharesshares
CONDENSED CONSOLIDATED BALANCE SHEETS
Ordinary shares, nominal value (in dollars per share) | $ / shares	$ 0.01		$ 0.01
Ordinary shares, number of shares authorized	400,000,000	400,000,000	400,000,000	400,000,000
Ordinary shares, number of shares issued	63,127,288	63,127,288	62,545,832	62,545,832
Ordinary shares, number of shares outstanding	63,127,288	63,127,288	62,545,832	62,545,832
Preferred shares, nominal value (in dollars per share) | $ / shares	$ 0.01		$ 0.01
Preferred shares, number of shares authorized	40,000,000	40,000,000	40,000,000	40,000,000
Preferred shares, number of shares issued	0	0	0	0
Preferred shares, number of shares outstanding	0	0	0	0
Euro deferred shares, nominal value (in euros per share) | € / shares		€ 1		€ 1
Euro deferred shares, number of shares authorized	25,000	25,000	25,000	25,000
Euro deferred shares, number of shares issued	0	0	0	0
Euro deferred shares, number of shares outstanding	0	0	0	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues	$ 2,196	$ 25,751	$ 14,641	$ 26,627
Cost of goods sold	1,147	1,185	2,535	1,794
Gross profit	1,049	24,566	12,106	24,833
Selling, general and administrative expenses	24,841	21,360	63,769	54,028
Research and development expenses	1,376	1,779	5,789	9,264
Impairment of intangibles			7,880
Total operating expenses	26,217	23,139	77,438	63,292
Operating income (loss)	(25,168)	1,427	(65,332)	(38,459)
Gain on sales of product rights, net			5,636
Operating income (loss)	(25,168)	1,427	(59,696)	(38,459)
Interest expense and amortization of debt discount	735	1,071	1,750	3,560
Other non-operating (gain) loss	120	(51)	1,312	246
Total other non-operating expense	(855)	(1,020)	(3,062)	(3,806)
Income (loss) before income taxes	(26,023)	407	(62,758)	(42,265)
Income tax expense (benefit)	324	(1,308)	415	(5,042)
Income (loss) from continuing operations	(26,347)	1,715	(63,173)	(37,223)
Gain on sales of discontinued operations, net	4,373		4,373
Income (loss) from discontinued operations before income tax expense	3,983	(10,171)	14,219	17,571
Income tax expense (benefit) - discontinued operations	(132)	177	617	5,063
Income (loss) from discontinued operations, net of tax	8,488	(10,348)	17,975	12,508
Net and other comprehensive loss	$ (17,859)	$ (8,633)	$ (45,198)	$ (24,715)
(Loss) income per share attributable to shareholders:
(Loss) income per share attributable to shareholders, Continuing operations, basic	$ (0.42)	$ 0.03	$ (1.01)	$ (0.62)
(Loss) income per share attributable to shareholders, Discontinued operations, Basic	0.13	(0.16)	0.29	0.21
(Loss) income per share attributable to shareholders, Continuing operations, Diluted	(0.42)	0.03	(1.01)	(0.62)
(Loss) income per share attributable to shareholders, Discontinued operations, Diluted	0.13	(0.16)	0.29	0.21
(Loss) income per share attributable to shareholders, basic	(0.28)	(0.14)	(0.72)	(0.41)
(Loss) income per share attributable to shareholders, diluted	$ (0.28)	$ (0.14)	$ (0.72)	$ (0.41)
Weighted average shares basic and diluted
Weighted average shares, basic	62,945,898	62,785,866	62,798,123	59,979,834
Weighted average shares, diluted	62,945,898	63,285,258	62,798,123	59,979,834
Product Revenue
Revenues	$ 2,196	$ 586	$ 4,451	$ 998
Royalty Revenue
Revenues		165	190	629
Licensing and Contract Revenue
Revenues		$ 25,000	$ 10,000	$ 25,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY - USD ($) $ in Thousands	Ordinary shares	Additional Paid-in Capital [Member]	Accumulated deficit	Accumulated other comprehensive loss	Total
Stockholders' equity, beginning balance at Dec. 31, 2019	$ 518	$ 489,440	$ (373,021)	$ (2,229)	$ 114,708
Shares, Outstanding, Beginning Balance at Dec. 31, 2019	51,845,742
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			(3,083)		(3,083)
Share compensation, value	$ 2	1,107			1,109
Share compensation, shares	181,966
Payments for taxes related to the net share settlement of equity awards		(616)			(616)
Issuance of ordinary shares, net of offering costs	$ 69	31,720			31,789
Issuance of ordinary shares in initial public offering and private placement, shares	6,900,000
Repurchase of ordinary shares, value		(167)			(167)
Repurchase of ordinary shares, shares	(29,000)
Stockholders' equity, ending balance at Mar. 31, 2020	$ 589	521,484	(376,104)	(2,229)	143,740
Shares, Outstanding, Ending Balance at Mar. 31, 2020	58,898,708
Stockholders' equity, beginning balance at Dec. 31, 2019	$ 518	489,440	(373,021)	(2,229)	114,708
Shares, Outstanding, Beginning Balance at Dec. 31, 2019	51,845,742
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(24,715)
Stockholders' equity, ending balance at Sep. 30, 2020	$ 631	550,020	(397,736)	(2,229)	150,686
Shares, Outstanding, Ending Balance at Sep. 30, 2020	63,105,832
Stockholders' equity, beginning balance at Mar. 31, 2020	$ 589	521,484	(376,104)	(2,229)	143,740
Shares, Outstanding, Beginning Balance at Mar. 31, 2020	58,898,708
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			(12,999)		(12,999)
Share compensation, value	$ 1	1,221			1,222
Share compensation, shares	31,295
Payments for taxes related to the net share settlement of equity awards		(133)			(133)
Repurchase of ordinary shares, value	$ (2)	(917)			(919)
Repurchase of ordinary shares, shares	(169,257)
Stockholders' equity, ending balance at Jun. 30, 2020	$ 588	521,655	(389,103)	(2,229)	130,911
Shares, Outstanding, Ending Balance at Jun. 30, 2020	58,760,746
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			(8,633)		(8,633)
Share compensation, value		1,508			1,508
Share compensation, shares	22,554
Issuance of ordinary shares, net of offering costs	$ 50	30,599			30,649
Issuance of ordinary shares in initial public offering and private placement, shares	5,000,000
Repurchase of ordinary shares, value	$ (7)	(3,742)			(3,749)
Repurchase of ordinary shares, shares	(677,468)
Stockholders' equity, ending balance at Sep. 30, 2020	$ 631	550,020	(397,736)	(2,229)	150,686
Shares, Outstanding, Ending Balance at Sep. 30, 2020	63,105,832
Stockholders' equity, beginning balance at Dec. 31, 2020	$ 625	548,070	(452,610)	(2,229)	93,856
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	62,545,832
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			(9,612)		(9,612)
Share compensation, value	$ 2	1,309			1,311
Share compensation, shares	173,299
Payments for taxes related to the net share settlement of equity awards		(358)			(358)
Stockholders' equity, ending balance at Mar. 31, 2021	$ 627	549,021	(462,222)	(2,229)	85,197
Shares, Outstanding, Ending Balance at Mar. 31, 2021	62,719,131
Stockholders' equity, beginning balance at Dec. 31, 2020	$ 625	548,070	(452,610)	(2,229)	93,856
Shares, Outstanding, Beginning Balance at Dec. 31, 2020	62,545,832
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					$ (45,198)
Repurchase of ordinary shares, shares					0
Stockholders' equity, ending balance at Sep. 30, 2021	$ 631	554,156	(497,808)	(2,229)	$ 54,750
Shares, Outstanding, Ending Balance at Sep. 30, 2021	63,127,288
Stockholders' equity, beginning balance at Mar. 31, 2021	$ 627	549,021	(462,222)	(2,229)	85,197
Shares, Outstanding, Beginning Balance at Mar. 31, 2021	62,719,131
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			(17,727)		(17,727)
Share compensation, value	$ 1	1,232			1,233
Share compensation, shares	128,931
Payments for taxes related to the net share settlement of equity awards		(249)			(249)
Stockholders' equity, ending balance at Jun. 30, 2021	$ 628	550,004	(479,949)	(2,229)	68,454
Shares, Outstanding, Ending Balance at Jun. 30, 2021	62,848,062
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			(17,859)		(17,859)
Share compensation, value	$ 2	4,277			4,279
Share compensation, shares	133,064
Payments for taxes related to the net share settlement of equity awards		(160)			(160)
Issuance of ordinary shares, net of offering costs	$ 1	35			36
Issuance of ordinary shares in initial public offering and private placement, shares	146,162
Stockholders' equity, ending balance at Sep. 30, 2021	$ 631	$ 554,156	$ (497,808)	$ (2,229)	$ 54,750
Shares, Outstanding, Ending Balance at Sep. 30, 2021	63,127,288

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities:
Net loss from continuing operations	$ (63,173)	$ (37,223)
Net income from discontinued operations	17,975	12,508
Net loss	(45,198)	(24,715)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	8,068	16,589
Share compensation	6,592	3,836
Impairment of intangibles	7,880
Impairment of intangibles		23,157
Deferred income tax benefit	(180)	(974)
Gain on sale of product rights, net	(5,636)
Gain on sale of discontinued operations, net	(4,373)
Loss on sale of fixed and leased assets	1,229	281
Bad debt provision		6
Amortization of deferred financing and loan origination fees	746	985
Write off of deferred financing and loan origination fees in connection with prepayment	1,387	496
Change in operating assets and liabilities:
Accounts receivable, net	4,643	22,339
Inventories, net	2,256	(398)
Prepaid expenses and other current assets	(3,316)	4,741
Other non-current assets	(603)
Trade accounts payable	515	(586)
Accrued and other current liabilities	(4,347)	(19,915)
Net cash provided by (used in) operating activities	(30,337)	25,842
Cash Flows from Investing Activities:
Proceeds from sale of fixed and leased assets	40	50
Payments on disposal of leased assets		(209)
Proceeds from product rights disposal	7,300
Proceeds from discontinued operations	110,845
Purchase of property, plant and equipment	(1,657)	(2,213)
Net cash provided by (used in) investing activities	116,528	(2,372)
Cash flows from Financing Activities:
Payments on finance lease obligations	(35)	(98)
Proceeds from public offering, net of issuance costs	36	62,440
Proceeds from purchases of stock under ESPP	234
Debt repayment	(191,360)	(50,000)
Repurchases of ordinary shares		(4,835)
Payments for taxes related to net share settlement of equity awards	(767)	(749)
Net cash provided by (used in) financing activities	(191,892)	6,758
Net change in cash and cash equivalents	(105,701)	30,228
Cash and cash equivalents, beginning of period	114,053	95,865
Cash and cash equivalents, end of period	8,352	126,093
Supplemental disclosure of cash and non-cash transactions:
Cash paid for interest	7,166	12,014
Cash paid for taxes	$ 2,060	$ 1,439

Organization and Nature of Oper

Organization and Nature of Operations	9 Months Ended
	Sep. 30, 2021
Organization and Nature of Operations
Organization and Nature of Operations	Note 1. Organization and Nature of Operations Osmotica Pharmaceuticals plc, an Irish public limited company (the “Company”), together with its subsidiaries, is a specialty pharmaceutical company focused on the commercialization and development of products that target markets with underserved patient populations. In July 2020, the Company received regulatory approval from the FDA for RVL-1201, or Upneeq, (oxymetazoline hydrocholoride ophthalmic solution, 0.1%), for the treatment of acquired blepharoptosis, or droopy eyelid, in adults. Upneeq was commercially launched September 2020 to a limited number of eye care professionals with commercialization operations expanded in 2021 among ophthalmology, optometry and oculoplastic specialties. On August 27, 2021, the Company closed the divestiture of its portfolio of branded and non-promoted products and its Marietta, Georgia manufacturing facility, (the “Legacy Business”) to certain affiliates of Alora Pharmaceuticals, or Alora, for $111 million in cash upon closing, subject to certain adjustments, and up to $60 million in contingent milestone payments. Pursuant to the agreement the Company post-closing retained the rights to Upneeq and to arbaclofen extended release tablets which is under development for the treatment of spasticity in multiple sclerosis. With the divestiture of the Legacy Business the primary focus of the Company will be on the commercialization and development of specialty pharmaceuticals in the ocular and medical aesthetics therapeutic areas. With the divestiture of the Legacy Business the Company’s commercial operations would be conducted by its wholly-owned subsidiaries, RVL Pharmaceuticals, Inc. and RVL Pharmacy, LLC, or RVL. RVL operates pharmacy operations dedicated to the processing and fulfillment of prescriptions for Upneeq. Unless otherwise indicated or required by the context, references throughout to “Osmotica,” or the “Company”, refer to our continuing operations following the sale or the Legacy Business to Alora. A description of our business prior to the consummation of the transaction is included in Item 1. “Business”, in Part I of the Annual Report on Form 10-K for the year ended December 31, 2020 that was previously filed with the Securities and Exchange Commission (“SEC”) on March 30, 2021. ​

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2021
Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation and Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies Going Concern Evaluation As of September 30, 2021, the Company’s cash and cash equivalents totaled $8.4 million. For the fiscal year ended December 31, 2020 and the three and nine months ended September 30, 2021 the Company incurred net losses of $79.6 million, $17.9 million and $45.2 million, respectively. On August 27, 2021, the Company announced the closing of the divestiture of the Company’s portfolio of branded and non-promoted products and its Marietta, Georgia manufacturing facility, or the Legacy Business, to certain affiliates of Alora Pharmaceuticals for $111 million in cash upon closing, subject to certain post-closing adjustments, and up to $60 million in contingent milestone payments, or the Transaction. Pursuant to the Transaction the Company retained the rights to Upneeq and to arbaclofen extended release tablets, which is under development for the treatment of spasticity in multiple sclerosis. Proceeds from the divestiture of the Legacy business, together with cash on hand were used to repay $186.1 million of debt. As of September 30, 2021, the Company had interest bearing debt of $29.9 million, net of deferred financing fees, with a maturity date of November 21, 2021. On October 12, 2021 the Company issued $55.0 million of senior secured notes to a lender, a portion of the proceeds of which, together with the proceeds from the underwritten offering described below, were used to repay $30.7 million of outstanding term loans, accrued interest and related fees and expenses. Also on October 12, 2021 the Company issued 14,000,000 ordinary shares and warrants to purchase 16,100,000 shares in an underwritten offering, raising net proceeds of approximately $32.5 million. The remaining net proceeds from the issuance of the senior notes and ordinary shares is being used for general corporate purposes. The divestiture of the Legacy Business resulted in the loss of substantially all the Company’s revenue generating assets and the Company’s business plan is focused on the launch of its commercial product, Upneeq, which diminished the Company’s cash flows in at least the near term, in particular cash inflows from product sales. The Company will require additional capital to fund its operating needs, including the commercialization of Upneeq and other activities. Accordingly, the Company expects to incur significant expenditures and increasing operating losses in the future. As a result, the Company’s current sources of liquidity will not be sufficient to meet its obligations for the 12 months following the date the unaudited condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q are issued. These conditions give rise to substantial doubt as to our ability to operate as a going concern. Our ability to continue as a going concern will require us to obtain additional funding, generate positive cash flow from operations and/or enter into strategic alliances or sell assets. The Company’s plans to address these conditions include pursuing one or more of the following options to secure additional funding, none of which can be guaranteed or are entirely within our control: • raise funds through additional sales of our ordinary shares, through equity sales agreements with broker/dealers or other public or private equity financings. • • There can be no assurance the Company will receive cash proceeds from any of these potential resources or, to the extent cash proceeds are received, such proceeds would be sufficient to support the Company’s current operating plan for at least the next 12 months from the date the condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q are issued. The sale of additional equity or convertible debt securities may result in additional dilution to the Company’s stockholders. If we raise additional funds through the issuance of debt securities or preferred stock or through additional credit facilities, these securities and/or the loans under credit facilities could provide for rights senior to those of the Company’s ordinary shares and could contain covenants that would restrict the Company’s operations. Additional funds may not be available when needed, on terms that are acceptable to the Company, or at all. The unaudited condensed consolidated financial statements have been prepared on a going concern basis, which assumes the realization of assets and settlement of liabilities in the normal course of business. The Company’s ability to continue as a going concern is dependent on the Company’s ability to obtain the necessary financing to meet its obligations and repay liabilities arising from the normal business operations when they become due. The outcome of these matters cannot be predicted with any certainty at this time and raise substantial doubt that the Company will be able to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments to the amount and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern. Basis of Presentation nine months ended September 30, 2021, are not necessarily indicative of the results that may be expected for any future period or for the year ending December 31, 2021 or any period thereafter. The accompanying Condensed Consolidated Balance Sheet data as of December 31, 2020 was derived from the audited consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2020. The Company accounted for the sale of the Legacy Business in accordance with Accounting Standards Codification, ASC, 205 Discontinued Operations and Accounting Standards Update, ASU, No. 2014-08, Reporting of Discontinued Operations and Disclosures of Disposals of Components of an Entity. The Company followed the held-for-sale criteria as defined in ASC 360 and ASC 205. ASC 205 requires that a component of an entity that has been disposed of or is classified as held for sale and has operations and cash flows that can be clearly distinguished from the rest of the entity be reported as assets held for sale and discontinued operations. In the period a component of an entity has been disposed of or classified as held for sale, the results of operations for the periods presented are reclassified into separate line items, net of tax, in the unaudited condensed consolidated statements of operations. Assets and liabilities are also reclassified into separate line items on the related condensed consolidated balance sheets for the periods presented. The statements of cash flows for the periods presented are also reclassified to reflect the results of discontinued operations as separate line items. ASU 2014-08 requires that only a disposal of a component of an entity, or a group of components of an entity, that represents a strategic shift that has, or will have, a major effect on the reporting entity’s operations and financial results be reported in the financial statements as discontinued operations. ASU 2014-08 also provides guidance on the financial statement presentations and disclosures of discontinued operations. Due to the sale of the Legacy Business during the third quarter of 2021, in accordance with ASC 205, Discontinued Operations, the Company has classified the results of the Legacy Business as discontinued operations in our unaudited condensed consolidated statements of operations and cash flows for all periods presented. All assets and liabilities associated with our Legacy Business were therefore classified as assets and liabilities of discontinued operations in our condensed consolidated balance sheets as of December 31, 2020. All amounts included in the notes to the unaudited condensed consolidated financial statements relate to continuing operations unless otherwise noted. For additional information, see Note 3, Discontinued Operations. Basic and Diluted Loss per Share The following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding as they would be anti-dilutive as of September 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 ​ Performance and restricted stock units ​ 1,456,910 ​ 2,092,419 ​ 1,456,910 ​ 2,591,811 ​ Options to purchase ordinary shares ​ 2,650,946 ​ 2,772,805 ​ 2,650,946 ​ 2,772,805 ​ Shares to be purchased through employee stock purchase plan ​ 79,919 ​ — ​ 79,919 ​ — ​ ​ Fair Value of Financial Instrument receivable, accounts payable and debt approximate book value because of the short maturity of these financial instruments. The valuation hierarchy is composed of three levels. The classification within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The levels within the valuation hierarchy are described below: Level 1 — Assets and liabilities with unadjusted, quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 — Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 — Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities. Segment Reporting

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2021
Discontinued Operations
Discontinued Operations	Note 3. Discontinued Operations On August 27, 2021, we closed the divestiture of the Company’s Legacy Business, to certain affiliates of Alora Pharmaceuticals for $111 million in cash upon closing, subject to certain post-closing adjustments, and up to $60 million in contingent milestone payments. We have determined the divestiture of the Legacy Business represents a Discontinued Operations The following table presents the results of the discontinued operations for the three- and nine -month periods ended September 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ Nine months ended ​ ​ September 30, ​ ​ September 30, ​ ​ 2021 2020 ​ 2021 ​ 2020 Total revenues ​ $ 15,551 $ 31,421 ​ $ 61,785 $ 116,726 Cost of goods sold (exclusive of depreciation and amortization shown separately below) ​ 4,973 ​ 10,938 ​ 23,435 ​ 41,583 Selling, general and administrative expense ​ 740 ​ 2,185 ​ 4,209 ​ 7,247 Depreciation and amortization ​ — ​ 4,592 ​ 6,583 ​ 13,925 Impairment of intangibles ​ — ​ 19,539 ​ — ​ 23,157 Research and development expenses ​ ​ 3,189 ​ ​ 1,947 ​ ​ 5,882 ​ ​ 5,921 Income (loss) from operations ​ 6,649 ​ (7,780) ​ 21,676 ​ 24,893 Interest expense ​ 1,495 ​ 2,493 ​ 6,399 ​ 7,808 Other income (loss), net ​ 1,171 ​ (102) ​ 1,058 ​ (486) Income (loss) from discontinued operations before costs of disposal and provision for income taxes ​ 3,983 ​ (10,171) ​ 14,219 ​ 17,571 Income tax expense (benefit) ​ (132) ​ 177 ​ 617 ​ 5,063 Income (loss) from discontinued operations before gain on disposal ​ ​ 4,115 ​ ​ (10,348) ​ ​ 13,602 ​ ​ 12,508 Gain on sales of discontinued operations ​ ​ 4,373 ​ ​ — ​ ​ 4,373 ​ ​ — Income (loss) from discontinued operations, net of tax ​ $ 8,488 ​ $ (10,348) ​ $ 17,975 ​ $ 12,508 ​ ​ The following table presents the significant non-cash items and purchases of property, plant and equipment for the discontinued operations for the Legacy Business that are included in the accompanying consolidated statements of cash flows. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ September 30, Cash flows from operating activities: ​ 2021 2020 Depreciation and amortization ​ $ 6,583 ​ $ 13,925 Share compensation ​ ​ 619 ​ ​ 260 Impairment of intangibles ​ ​ — ​ ​ 23,157 ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities: ​ ​ ​ ​ ​ ​ Purchase of property, plant and equipment ​ $ (1,335) ​ $ (1,707) ​ ​ The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations as of December 31, 2020. ​ ​ ​ ​ ​ ​ December 31, 2020 Cash and cash equivalents ​ $ — Accounts receivable, net ​ ​ 23,263 Inventories ​ 16,103 Prepaid expenses and other current assets ​ 2,163 Total current assets of discontinued operations ​ 41,529 Property, plant and equipment, net ​ 25,663 Operating lease right-of-use assets ​ 803 Goodwill ​ 45,008 Intangible assets, net ​ 30,667 Total non-current assets of discontinued operations ​ 102,141 Total assets of discontinued operations ​ $ 143,670 ​ ​ ​ ​ Accounts payable ​ $ 3,640 Accrued liabilities ​ 30,566 Current portion of operating lease liabilities ​ 278 Total current liabilities of discontinued operations ​ 34,484 Operating lease liabilities, net of current portion ​ 568 Total non-current liabilities of discontinued operations ​ 568 Total liabilities of discontinued operations ​ 35,052 Net assets of discontinued operations ​ $ 108,618 ​ The following table presents the gain on the sale for the quarter ended September 30, 2021: ​ ​ ​ ​ ​ ​ ​ September 30, 2021 Cash proceeds ​ $ 111,848 Less: transaction costs ​ ​ (6,335) Less: net assets transferred ​ ​ (101,140) Gain on sale, pre-tax ​ $ 4,373 ​

Revenues

Revenues	9 Months Ended
	Sep. 30, 2021
Revenues
Revenues	Note 4. Revenues The Company’s performance obligations are to provide its pharmaceutical products based upon purchase orders from customers. The performance obligation is satisfied at a point in time, typically upon delivery, when the customer obtains control of the pharmaceutical product. The Company collects payments in advance from its customers. The following table disaggregates revenue with customers by pharmaceutical products (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ Pharmaceutical Products 2021 2020 2021 2020 Upneeq ​ $ 2,196 ​ $ 52 ​ $ 4,451 ​ $ 52 ​ Osmolex ​ — ​ 534 ​ — ​ ​ 946 ​ Net product sales ​ 2,196 ​ 586 ​ 4,451 ​ 998 ​ Royalty revenue ​ — ​ 165 ​ 190 ​ ​ 629 ​ Licensing revenue ​ — ​ 25,000 ​ 10,000 ​ ​ 25,000 ​ Total revenues ​ $ 2,196 ​ $ 25,751 ​ $ 14,641 ​ $ 26,627 ​ ​ On July 28, 2020, the Company entered into a License Agreement with Santen Pharmaceutical Co. Ltd, granting Santen exclusive development, registration, and commercialization rights to RVL-1201 in Japan, China, and other Asian countries as well as Europe, the Middle East and Africa (“EMEA”) countries. Under the agreement the Company is entitled to certain development and regulatory milestone payments. The Company is also entitled to royalty payments on net sales of RVL-1201 in Santen commercialization territories. During the three and nine months ended September 30, 2021, the Company received $0.0 million and $10.0 million, respectively, which were recognized as license revenue in the periods as all performance obligations were met. When the Company receives consideration from a customer, or such consideration is unconditionally due from a customer prior to the transfer of products to the customer under the terms of a contract, the Company records a contract liability. The Company classifies contract liabilities as deferred revenue. The Company had deferred revenue of $0.2 million for the nine months ended September 30, 2021. Contract assets primarily relate to rights to consideration for goods or services transferred to the customer when the right is conditional on something other than the passage of time. Contract assets are transferred to accounts receivable when the rights become unconditional. The Company had no contract assets as of September 30, 2021. The Company has no costs to obtain or fulfill contracts meeting the capitalization criteria under ASC Topic 340, Other Assets and Deferred Costs.

Accounts Receivable

Accounts Receivable	9 Months Ended
	Sep. 30, 2021
Accounts Receivable
Accounts Receivable	Note 5. Accounts Receivable Accounts receivable result primarily from amounts due under revenue sharing, license and royalty arrangements. Trade accounts receivable, net consisted of the following (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 Gross accounts receivable: ​ ​ Accounts receivable ​ $ — ​ $ 196 Royalty accounts receivable ​ ​ — ​ ​ 55 Other receivable ​ 4,190 ​ 2,903 Less reserves for: ​ ​ ​ ​ Commercial rebates ​ — ​ (4) Discounts and allowances ​ — ​ (1) Total accounts receivable, net ​ $ 4,190 ​ $ 3,149 ​ The Company recorded the following adjustments to gross product sales (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 2020 2021 2020 Gross product sales ​ $ 2,355 ​ $ 647 ​ $ 4,611 ​ $ 1,497 ​ Less provisions for: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Chargebacks ​ (1) ​ — ​ (2) ​ ​ — ​ Government and managed care rebates ​ — ​ (57) ​ — ​ ​ (96) ​ Commercial rebates ​ — ​ 2 ​ — ​ ​ (50) ​ Product returns ​ — ​ (3) ​ — ​ ​ (67) ​ Discounts and allowances ​ (158) ​ (1) ​ (158) ​ ​ (12) ​ Advertising and promotions ​ — ​ (2) ​ — ​ ​ (274) ​ Net product sales ​ $ 2,196 ​ $ 586 ​ $ 4,451 ​ $ 998 ​ ​ The activity in the Company’s allowance for customer deductions against trade accounts receivable was as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Discounts ​ ​ ​ ​ Commercial ​ and ​ ​ ​ ​ ​ Rebates ​ Allowances ​ Total Balance at January 1, 2020 ​ $ 7 ​ $ 2 ​ $ 9 Provision ​ ​ 56 ​ ​ 14 ​ ​ 70 Charges processed ​ ​ (59) ​ ​ (15) ​ ​ (74) Balance at December 31, 2020 ​ $ 4 ​ $ 1 ​ $ 5 Provision ​ ​ — ​ ​ 158 ​ ​ 158 Charges processed ​ ​ (4) ​ ​ (159) ​ ​ (163) Balance at September 30, 2021 ​ $ — ​ $ — ​ $ — ​

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventories
Inventories	Note 6. Inventories The components of inventories, net of allowances, were as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 Finished goods ​ $ 824 ​ $ 1,593 Work in process ​ — ​ 90 Raw materials and supplies ​ — ​ 148 ​ ​ $ 824 ​ $ 1,831 ​ The Company maintains an allowance for excess and obsolete inventory, as well as inventory where its cost is in excess of its net realizable value. There was no allowance for excess, obsolete, and net realizable value inventory in the nine months ended September 30, 2021 or year ended December 31, 2020.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	Note 7. Goodwill and Other Intangible Assets The Company tests goodwill and indefinite-lived intangible assets for impairment annually as of October 1 st were no indications that the fair value of goodwill was less than its carrying value. The following table sets forth the carrying value of goodwill as of September 30, 2021 and December 31, 2020. ​ ​ ​ ​ ​ ​ Goodwill January 1, 2020 ​ $ 55,847 Impairments ​ ​ — December 31, 2020 ​ ​ 55,847 Impairments ​ ​ — September 30, 2021 ​ $ 55,847 ​ Impairments of indefinite-lived In-Process R&D assets for the nine months ended September 30, 2021 and year ended December 31, 2020, were $7.9 million and $28.9 million, respectively, related to arbaclofen ER due to delay in anticipated commercialization of the product candidate, if approved. ​ As part of the Company’s intangible asset impairment assessment, the Company estimates the fair value of the intangible asset using an income approach that utilizes a discounted cash flow model, or, where appropriate, a market approach. The discounted cash flow models are dependent upon our estimates of future cash flows and other factors. These estimates of future cash flows involve assumptions concerning (i) future operating performance, including future sales, long-term growth rates, operating margins, variations in the amounts, allocation and timing of cash flows and the probability of achieving the estimated cash flows and (ii) future economic conditions. These assumptions are based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value hierarchy. Indefinite-lived intangible assets classified as in-process research and development, or IPRD, are subject to adjustments reducing their anticipated revenues and costs by a probability of success, or POS, factor based upon empirical research of probabilities a new drug candidate would be approved based on the candidate’s stage of clinical development. The POS factor applied to the IPRD asset on the impairment assessment for the nine months ended September 30, 2021 and for the year ended December 31, 2020 was 69.6% and the discount rate was 12.5%. The Company believes the discount rates and other inputs and assumptions are consistent with those that a market participant would use. ​ The following table sets forth the major categories of the Company’s intangible assets and the weighted-average remaining amortization period for those assets that were not already fully amortized (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Net ​ Amortization ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Carrying ​ Period ​ ​ Amount ​ Amortization ​ Impairment ​ Amount ​ (Years) IPR&D $ 35,090 $ — $ (7,880) $ 27,210 Indefinite Lived ​ ​ $ 35,090 ​ $ — ​ $ (7,880) ​ $ 27,210 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Net ​ Remaining ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Carrying ​ Amortization ​ ​ Amount ​ Amortization ​ Impairment ​ Amount ​ Period (Years) IPR&D ​ $ 64,000 ​ $ — ​ $ (28,910) ​ $ 35,090 Indefinite Lived ​ ​ $ 64,000 ​ $ — ​ $ (28,910) ​ $ 35,090 ​ Changes in the net carrying amount of intangible assets were as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Intangible Assets Total January 1, 2020 ​ $ 64,000 ​ $ 64,000 Amortization ​ ​ — ​ ​ — Impairments ​ ​ (28,910) ​ ​ (28,910) December 31, 2020 ​ ​ 35,090 ​ ​ 35,090 Amortization ​ ​ — ​ ​ — Impairments ​ ​ (7,880) ​ ​ (7,880) September 30, 2021 ​ $ 27,210 ​ $ 27,210 ​ There was no amortization expense for the nine months ended September 30, 2021 or 2020.

Accrued Liabilities

Accrued Liabilities	9 Months Ended
	Sep. 30, 2021
Accrued Liabilities
Accrued Liabilities	Note 8. Accrued Liabilities Accrued liabilities consist of the following (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 Accrued chargeback ​ $ — ​ $ 1,376 Accrued product returns ​ ​ — ​ ​ 88 Accrued royalties ​ ​ 144 ​ ​ 29 Accrued compensation ​ 6,570 ​ 6,232 Accrued government and managed care rebates ​ — ​ 46 Accrued research and development ​ ​ 312 ​ ​ 721 Accrued expenses and other liabilities ​ 11,289 ​ 8,455 Customer coupons ​ — ​ 4 Deferred revenue ​ 206 ​ — Total ​ $ 18,521 ​ $ 16,951 ​

Financing Arrangements

Financing Arrangements	9 Months Ended
	Sep. 30, 2021
Financing Arrangements
Financing Arrangements	Note 9. Financing Arrangements The composition of the Company’s debt and financing obligations were as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 CIT Bank, N.A. Term Loan, net of deferred financing costs of $0.1 million and $1.8 million as of September 30, 2021 and December 31, 2020, respectively ​ $ 29,925 ​ $ 219,525 Total debt ​ 29,925 ​ 219,525 Less: current portion ​ (29,925) ​ — Long-term debt ​ $ — ​ $ 219,525 ​ Term Loan As of September 30, 2021, the interest rate was 4.75% for the Company’s Term A Loan and 5.25% for the Term B Loan. As of December 31, 2020, the interest rate was 4.75% for the Term A Loan and 5.25% for the Term B Loan. The Company was in compliance with all covenants of the Term Loan Agreement as of September 30, 2021. Revolving Facility In connection with the Fifth Amendment to the credit agreement with CIT Bank, N.A. which became effective on August 27, 2021 the Company terminated its revolving credit facility. Additionally, the Company prepaid $186.1 million in aggregate of the outstanding principal amount of its term loans. The prepayments consisted of $157.4 million of Term A Loan outstanding principal and $28.7 million of Term B Loan outstanding principal. The prepayments were made on a pro-rata basis between the Term A Loan and the Term B Loan. ​ In accordance with ASC 470, when debt is prepaid within its contractual terms and the terms of the remaining debt are not modified, the prepayment should be treated as a partial extinguishment rather than a modification. During the second quarter, pursuant to the terms of Fourth Amendment to the Credit Agreement, the Company exercised its right to cure a shortfall in the financial covenants which resulted in the mandatory prepayment of $5.3 million of term loans. ​ As a result of the partial extinguishment, the Company has elected, as an accounting policy in accordance with ASC 470-50-40-2, to write off a proportionate amount of the unamortized fees at the time that the financing was partially settled in accordance with the terms of the Third Amendment. The unamortized debt issuance costs are allocated between the remaining original loan balance and the portion of the loan paid down on a pro-rata basis. During the three and nine months ended September 30, 2021, the Company wrote off $1.4 million and $1.4 million of debt issuance costs, respectively, relating to the prepayments and recorded the expense in the accompanying Condensed Consolidated Statement of Operations and Comprehensive Loss. ​ On October 12, 2021 the Company issued $55 million of senior secured notes and completed an equity follow-on offering of 14,000,000 ordinary shares and warrants to purchase 16,100,000 shares. A portion of the proceeds from these transactions was used to fully repay term loans outstanding under the credit agreement as of September 30, 2021, see Note 17, Subsequent Events.

Concentrations and Credit Risk

Concentrations and Credit Risk	9 Months Ended
	Sep. 30, 2021
Concentrations and Credit Risk
Concentrations and Credit Risk	Note 10. Concentrations and Credit Risk The Company does not have significant concentrations of credit risk with its customers. ​ Purchasing The Company does not have significant purchase agreements with third parties.

Incentive Plans

Incentive Plans	9 Months Ended
	Sep. 30, 2021
Incentive Plans
Incentive Plans	Note 11. Incentive Plans The Company recognized share-based compensation expense of $5.9 million and $3.3 million during the nine months ended September 30, 2021 and 2020, respectively. In connection with the divestiture of the Company’s Legacy Business, we accelerated the vesting of certain options, restricted stock units and performance stock units under our incentive plans during the quarter. As of September 30, 2021, the total remaining unrecognized compensation cost related to non-vested share-based compensation awards, amounted to ​

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies
Commitments and Contingencies	Note 12. Commitments and Contingencies Contingent Milestone Payments Upon closing of the Legacy Business divestiture, the only strategic business agreements remaining with the Company are those related to the acquisition of Upneeq and its related intellectual property. The amount of future contingent milestone payments under the intellectual property license agreement, based on certain levels of US and ex-US sales of Upneeq, was $1.3 million in the aggregate as of September 30, 2021, in addition to royalties paid to the licensor on net sales of Upneeq. The Company is also obligated to pay earn out payments pursuant to the acquisition of RevtitaLid, Inc., the original owner of Upneeq, as a percentage of US and ex-US sales of Upneeq. The Company believes the earn-out payments are currently immaterial to its financial statements. ​ Supply Agreement Obligations The only supply agreement remaining with the Company after the divestiture of the Legacy Business is that related to the supply of Upneeq, which contains no minimum purchase obligations. Legal Proceedings The Company is a party in legal proceedings and potential claims arising from time to time in the ordinary course of its business. The amount, if any, of ultimate liability with respect to such matters cannot be determined. Despite the inherent uncertainties of litigation, management of the Company believes that the ultimate disposition of such proceedings and exposures will not have a material adverse impact on the financial condition, results of operations, or cash flows of the Company. On February 16, 2018, the Company received FDA approval for its amantadine extended release tablets under the trade name Osmolex ER. On that same date the Company filed in the Federal District Court for the District of Delaware a Complaint for Declaratory Judgment of Noninfringement of certain patents owned by Adamas Pharmaceuticals, Inc. (Osmotica Pharmaceutical US LLC and Vertical Pharmaceuticals, LLC vs. Adamas Pharmaceuticals, Inc. and Adamas Pharma, LLC). Adamas was served with the Complaint on February 21, 2018. Adamas filed an answer on April 13, 2018 denying the allegations in the Complaint and reserving the ability to raise counterclaims as the litigation progresses. On September 20, 2018, Adamas filed an amended answer to the Company’s Complaint for Declaratory Judgment of Noninfringement, with counterclaims alleging infringement of certain patents included in the Company’s Complaint and requesting that the court grant Adamas damages, injunctive relief and attorneys’ fees. On December 2, 2020, we entered into an agreement to settle the litigation with Adamas. Under the terms of the agreement, both parties agreed to drop their respective claims relating to the patent litigation, and Adamas agreed to acquire the global rights to Osmolex ER from the Company for $7.5 million. The sale of the global rights to Osmolex ER closed in January 2021 at which time the related gain was recorded. The sale of the global rights to Osmolex ER closed in January 2021 and a gain of $5.6 million was recorded in the condensed consolidated statements of operations and comprehensive loss under gain on sale of product rights, net. Additionally, in connection with the settlement and the sale of the global rights to Osmolex ER, the parties entered into a supply agreement pursuant to which the Company agreed to supply Adamas with amantadine extended release tablets for a six-year term, subject to possible two-year extensions and customary closing conditions at market rates. The supply agreement transferred to Alora as part of the divestiture of the Legacy Business. On April 30, 2019, the Company was served with a complaint in an action entitled Leo Shumacher, et al., v. Osmotica Pharmaceuticals plc, et al., Superior Court of New Jersey, Somerset County No. SOM-L-000540-19. On May 10, 2019, a Complaint entitled Jeffrey Tello, et al., v. Osmotica Pharmaceuticals plc, et al., Superior Court of New Jersey, Somerset County No. SOM-L-000617-19 was filed in the same court as the Shumacher action. The complaints named the Company, certain of the Company’s directors and officers and the underwriters of the Company’s initial public offering as defendants in putative class actions alleging violations of Sections 11 and 15 of the Securities Act of 1933 related to the disclosures contained in the registration statement and prospectus used for the Company’s initial public offering of ordinary shares. On July 22, 2019, the plaintiffs filed an amended complaint consolidating the two actions, reiterating the previously pled allegations and adding an additional individual defendant. The parties participated in a mediation and reached an agreement in principle to settle the litigation on December 15, 2020. The parties subsequently negotiated a settlement agreement setting forth the terms of the settlement. On May 18, 2021, plaintiffs filed an unopposed motion for preliminary approval of the settlement and notice to the proposed settlement class, which motion was granted by the court on June 11, 2021. The settlement, which was finally approved by the Court on November 10, 2021, calls for a payment by the Company of $5.25 million (a portion of which was covered by applicable insurance) and which fully resolves all claims asserted in the litigation against all defendants named in the litigation, including the Company. No party admitted any wrongdoing as part of the settlement, which was reached to avoid the further cost and distraction of litigation. ​ On April 19, 2021, Vertical Pharmaceuticals, LLC (“Vertical”) was served with a complaint in an action entitled United States ex rel. Lupinetti, et al. v. Exeltis USA, Inc., et al., Northern District of Illinois, No. 1:19-cv-00825. The complaint named Vertical and four other pharmaceutical manufacturers as defendants in a suit alleging violations of the federal False Claims Act and state corollary statutory schemes related to the labelling, marketing, and reimbursement of several prenatal vitamins. The United States government declined to intervene in the action and the plaintiff has chosen to proceed with the litigation as a qui tam relator on behalf of the federal government and 29 individual states seeking monetary damages, statutory civil penalties, and costs and fees. We have retained outside counsel to defend us against the claims. On June 18, 2021, we and the other defendants in the action filed a Joint Motion to Dismiss, and on August 2, 2021, Plaintiff filed an Opposition to the Joint Motion to Dismiss. The Company disputes the allegations in the complaint and intends to vigorously defend against the action. However, this litigation matter is still in an early stage and there is no assurance that the Company will be successful in its defense or that insurance will be available or adequate to fund any settlement or judgment or the litigation costs of the action, which could adversely affect the Company’s results of operations and financial condition. There was not a loss that is probable or reasonably estimatable as of September 30, 2021. ​

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Taxes
Income Taxes	Note 13. Income Taxes During the nine months ended September 30, 2021, the Company recognized an income tax expense on continuing operations of $0.4 million on $62.8 million of loss before income tax, compared to $5.0 million of income tax benefit on $42.3 million of loss before income tax during the comparable 2020 period. Income taxes for the interim periods have been based on an estimated annual worldwide effective tax rate. Income tax (expense) benefit differs from the statutory income tax rate primarily due to the occurrence of orphan drug and research development credits, movement in a valuation allowance and the addition of state and foreign taxes. The Company provides reserves for potential payments of income tax to various tax authorities or does not recognize income tax benefits related to uncertain tax positions and other issues. Tax benefits for uncertain tax positions are based on a determination of whether a tax benefit taken by the Company in its tax filings or positions is more likely than not to be realized, assuming that the matter in question will be decided based on its technical merits. The Company’s policy is to record interest and penalties in the provision for income taxes. Valuation Allowance Net deferred tax assets arise due to the recognition of income and expense items for tax purposes, which differ from those used for financial statement purposes. ASC 740, Income Taxes, provides for the recognition of deferred tax assets if the realization of such assets is more likely than not. In assessing the need for a valuation allowance in the nine months ended September 30, 2021, the Company considered all available objective and verifiable evidence both positive and negative, including historical levels of pre-tax income (loss) both on a consolidated basis and tax reporting entity basis, legislative developments, expectations and risks associated with estimates of future pre-tax income, and prudent and feasible tax planning strategies. The Company assesses the realizability of the deferred tax assets at each balance sheet date based on actuals and forecasted operating results in order to determine the proper amount, if any, of a valuation allowance. As a result of this analysis, the Company determined that it is more likely than not that it will not realize the benefits of its net deferred tax assets and therefore has recorded a valuation allowance to reduce the carrying value of its net deferred tax assets. The Company continues to maintain valuation allowances on deferred tax assets applicable to entities in foreign jurisdictions for which separate income tax returns are filed, where realization of the related deferred tax assets from future profitable operations is not reasonably assured.

Related Parties

Related Parties	9 Months Ended
	Sep. 30, 2021
Related Parties
Related Parties	Note 14. Related Parties There were no related party transactions during the three months ended September 30, 2021 and had recognized no related expenses for the nine months ended September 30, 2021.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity
Shareholders' Equity	Note 15. Shareholders’ Equity Ordinary Share Repurchase Program In September 2019, the Company’s Board of Directors authorized the repurchase of up to 5,251,892 ordinary shares pursuant to a share repurchase program. Purchases under the ordinary share repurchase program can be made on the open market or in privately negotiated transactions, with the size and timing of these purchases based on a number of factors, including the price and business and market conditions. The Company expects to retire ordinary shares acquired under the repurchase program. In the nine months ended September 30, 2021, the Company did not repurchase ordinary shares. 2019 Employee Share Purchase Plan In September 2019, the Company’s board of directors adopted and approved, the Employee Share Purchase Plan (the “ESPP”). The ESPP allows each eligible employee who is participating in the plan to purchase shares by authorizing payroll deductions of up to $2,000 per payroll period. Unless the participating employee has previously withdrawn from the offering, accumulated payroll deductions will be used to purchase shares on the last business day of the offering period at a price equal to 85 percent of the fair market value of the shares on the first business day or the last business day of the offering period, whichever is lower. Under applicable tax rules, an employee may purchase no more than $25,000 worth of ordinary shares, valued at the start of the purchase period, under the ESPP in any calendar year. There is no minimum holding period associated with shares purchased pursuant to this plan. An employee’s purchase rights terminate immediately upon termination of employment. The Company accounts for employee stock purchases made under its ESPP using the estimate grant date fair value of accounting in accordance with ASC 718, Stock Compensation. The purchase price discount and the look-back feature cause the ESPP to be compensatory and the Company to recognize compensation expense. The compensation cost is recognized on a straight-line basis over the requisite service period. The Company recognized less than $0.1 million of compensation expense for the nine months ended September 30, 2021. The Company values ESPP shares using the Black-Scholes model. As of September 30, 2021, there was less than $0.1 million of unrecognized ordinary share compensation expense related to the ESPP, which is expected to be recognized over a weighted-average period of 0.50 years. On July 2, 2021, the Company issued 37,111 ordinary shares to the employees who participated in the ESPP during the offering period ended September 30, 2021. 2020 Equity Offering On January 13, 2020 we completed an equity offering and allotted 6.9 million ordinary shares at a public offering price of $5.00 per share. The number of shares issued in this offering reflected the exercise in full of the underwriters option to purchase 900,000 ordinary shares. The aggregate proceeds from the follow-on offering were approximately $31.8 million after deducting underwriter discounts and commissions and offering expenses. ​ On July 16, 2020 we completed a follow-on equity offering and allotted 5.0 million ordinary shares. The aggregate proceeds from the follow-on offering were approximately $30.6 million after deducting offering expenses.

Restructuring Expenses

Restructuring Expenses	9 Months Ended
	Sep. 30, 2021
Restructuring Expenses
Restructuring Expenses	Note 16. Restructuring Expenses In April 2021, the Company curtailed operations and implemented workforce reductions in its research and development subsidiary in Buenos Aires, Argentina. These restructuring activities were associated with the Company’s plans to reduce expenses and better align business activities with the Company’s corporate strategy. As a result, the Company recognized $4.5 million of restructuring expenses in operating expenses which were incurred in the nine month period ending on September 30, 2021. The restructuring expenses consisted of $3.2 million one-time employee related termination benefits, and $1.3 million of asset disposal costs related to leasehold improvements at the Buenos Aires location. Of the $4.5 million of restructuring expenses, $2.0 million were recognized in Selling, General and Administrative expenses, $1.2 million were recognized in Research and Development expenses, and $1.3 million of asset disposal costs were recognized in non-operating expenses.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2021
Subsequent Events.
Subsequent Events	Note 17. Subsequent Events On October 1, 2021, the Company entered into a Note Purchase Agreement (the “Note Purchase Agreement”) with, among others, Athyrium Opportunities IV Acquisition LP, as administrative agent, and certain purchasers party thereto from time to time (the “Purchaser”). The Note Purchase Agreement provides for the issuance of senior secured notes (the “Notes”) to Purchaser in an aggregate principal amount of up to $100 million in three separate tranches. The first tranche of Notes was issued in an aggregate principle amount equal to $55,000,000 on October 12, 2021. At any time after October 12, 2021 but prior to the first anniversary thereof, upon the satisfaction of certain conditions, including a minimum net product sales target for Upneeq over a specified period of time, the Company may request the issuance of second tranche Notes in an aggregate principal amount of up to $20,000,000. At any time after October 12, 2021 but prior to the second anniversary thereof, the Company may request the issuance of third tranche Notes in an aggregate principal amount of up to $25,000,000, which shall be funded in the sole discretion of the Purchasers. ​ The Notes are guaranteed on a senior secured basis by certain of the Company’s subsidiaries. The Notes and guarantees are secured by substantially all of the assets of the Company and its U.S. subsidiaries, including a security interest in substantially all of the tangible and intangible assets of the Issuer and each guarantor, including intellectual property rights and personal property consisting of inventory, related accounts, cash and deposit accounts. The Notes bear interest at a rate of 9.0% plus adjusted three-month LIBOR, with a LIBOR floor of 1.50% and LIBOR cap of 3.00%, payable in cash quarterly arrears, and will mature five ​ The Notes may be voluntarily prepaid upon the satisfaction of certain conditions and with each such prepayment being accompanied by, as applicable, (1) a make-whole premium, (2) an exit fee of 2.0% of the principal amount of the Notes prepaid, (3) certain other fees, indemnities and expenses and (4) all accrued interest on the principal amount of the Notes being so prepaid. The exit fee described in (2) above is payable on the principal amount of all Notes prepaid or repaid, including upon the repayment of the Notes upon maturity. ​ Subject to certain exceptions and qualifications, the Note Purchase Agreement contains covenants that, among other things, limit the Issuer’s ability and the ability of its restricted subsidiaries, including the guarantors, to: · · · · · engage in consolidations, amalgamations or mergers, or sell, transfer or otherwise dispose of all or substantially all of their assets; and · ​ The Note Purchase Agreement also provides for events of default which, if any of them occurs and is continuing, would require or permit (x) the principal of, premium, if any, exit fee and accrued interest on the Notes to become or to be declared due and payable and (y) the termination of the commitments (if any) of each purchaser to purchase Notes. ​ As a condition to the effectiveness of the Note Purchase Agreement, on October 1, 2021, the Company entered into a share subscription agreement with the Purchaser for the issuance and sale of 6,148,832 ordinary shares for a price of $0.01 per share. The Company issued the shares to the Purchaser on October 12, 2021. ​ On October 12, 2021,a portion of the proceeds of the first tranche notes, together with the proceeds from the underwritten offering described below, were used to repay in full the $29.9 million, net of deferred financing fees, outstanding under the Credit Agreement dated as of February 3, 2016 (as amended) between the Company, CIT Bank, N.A., and the other parties thereto (the “Credit Agreement”) together with $0.7 million in fees and accrued interest. The remainder of the proceeds from the first tranche notes and the issuance of ordinary shares will be used for working capital and general corporate purposes, including the launch of Upneeq. ​ Further, on October 12, 2021 the Company completed a follow-on offering and issued and allotted 14,000,000 ordinary shares of the Company and warrants to purchase up to 14,000,000 ordinary shares, at a public offering price of $2.50 per share and accompanying warrant. In addition, the Company granted the underwriter a 30-day option to purchase up to an additional 2,100,000 ordinary shares and/or warrants to purchase additional 2,100,000 ordinary shares at the public offering price, less the underwriting discounts and commissions. On October 11, 2021 the underwriter exercised its option to purchase additional warrants to purchase up to 2,100,000 ordinary shares. The warrants have an exercise price of $3.10 per share, were immediately exercisable and will expire 3.5 years from the date of issuance. The aggregate net proceeds from the follow-on offering were approximately $32.5 million after deducting underwriting commissions and offering expenses. ​

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2021
Basis of Presentation and Summary of Significant Accounting Policies
Going Concern	Going Concern Evaluation As of September 30, 2021, the Company’s cash and cash equivalents totaled $8.4 million. For the fiscal year ended December 31, 2020 and the three and nine months ended September 30, 2021 the Company incurred net losses of $79.6 million, $17.9 million and $45.2 million, respectively. On August 27, 2021, the Company announced the closing of the divestiture of the Company’s portfolio of branded and non-promoted products and its Marietta, Georgia manufacturing facility, or the Legacy Business, to certain affiliates of Alora Pharmaceuticals for $111 million in cash upon closing, subject to certain post-closing adjustments, and up to $60 million in contingent milestone payments, or the Transaction. Pursuant to the Transaction the Company retained the rights to Upneeq and to arbaclofen extended release tablets, which is under development for the treatment of spasticity in multiple sclerosis. Proceeds from the divestiture of the Legacy business, together with cash on hand were used to repay $186.1 million of debt. As of September 30, 2021, the Company had interest bearing debt of $29.9 million, net of deferred financing fees, with a maturity date of November 21, 2021. On October 12, 2021 the Company issued $55.0 million of senior secured notes to a lender, a portion of the proceeds of which, together with the proceeds from the underwritten offering described below, were used to repay $30.7 million of outstanding term loans, accrued interest and related fees and expenses. Also on October 12, 2021 the Company issued 14,000,000 ordinary shares and warrants to purchase 16,100,000 shares in an underwritten offering, raising net proceeds of approximately $32.5 million. The remaining net proceeds from the issuance of the senior notes and ordinary shares is being used for general corporate purposes. The divestiture of the Legacy Business resulted in the loss of substantially all the Company’s revenue generating assets and the Company’s business plan is focused on the launch of its commercial product, Upneeq, which diminished the Company’s cash flows in at least the near term, in particular cash inflows from product sales. The Company will require additional capital to fund its operating needs, including the commercialization of Upneeq and other activities. Accordingly, the Company expects to incur significant expenditures and increasing operating losses in the future. As a result, the Company’s current sources of liquidity will not be sufficient to meet its obligations for the 12 months following the date the unaudited condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q are issued. These conditions give rise to substantial doubt as to our ability to operate as a going concern. Our ability to continue as a going concern will require us to obtain additional funding, generate positive cash flow from operations and/or enter into strategic alliances or sell assets. The Company’s plans to address these conditions include pursuing one or more of the following options to secure additional funding, none of which can be guaranteed or are entirely within our control: • raise funds through additional sales of our ordinary shares, through equity sales agreements with broker/dealers or other public or private equity financings. • • There can be no assurance the Company will receive cash proceeds from any of these potential resources or, to the extent cash proceeds are received, such proceeds would be sufficient to support the Company’s current operating plan for at least the next 12 months from the date the condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q are issued. The sale of additional equity or convertible debt securities may result in additional dilution to the Company’s stockholders. If we raise additional funds through the issuance of debt securities or preferred stock or through additional credit facilities, these securities and/or the loans under credit facilities could provide for rights senior to those of the Company’s ordinary shares and could contain covenants that would restrict the Company’s operations. Additional funds may not be available when needed, on terms that are acceptable to the Company, or at all. The unaudited condensed consolidated financial statements have been prepared on a going concern basis, which assumes the realization of assets and settlement of liabilities in the normal course of business. The Company’s ability to continue as a going concern is dependent on the Company’s ability to obtain the necessary financing to meet its obligations and repay liabilities arising from the normal business operations when they become due. The outcome of these matters cannot be predicted with any certainty at this time and raise substantial doubt that the Company will be able to continue as a going concern. The unaudited condensed consolidated financial statements do not include any adjustments to the amount and classification of assets and liabilities that may be necessary should the Company be unable to continue as a going concern.
Basis of Presentation	Basis of Presentation nine months ended September 30, 2021, are not necessarily indicative of the results that may be expected for any future period or for the year ending December 31, 2021 or any period thereafter. The accompanying Condensed Consolidated Balance Sheet data as of December 31, 2020 was derived from the audited consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2020. The Company accounted for the sale of the Legacy Business in accordance with Accounting Standards Codification, ASC, 205 Discontinued Operations and Accounting Standards Update, ASU, No. 2014-08, Reporting of Discontinued Operations and Disclosures of Disposals of Components of an Entity. The Company followed the held-for-sale criteria as defined in ASC 360 and ASC 205. ASC 205 requires that a component of an entity that has been disposed of or is classified as held for sale and has operations and cash flows that can be clearly distinguished from the rest of the entity be reported as assets held for sale and discontinued operations. In the period a component of an entity has been disposed of or classified as held for sale, the results of operations for the periods presented are reclassified into separate line items, net of tax, in the unaudited condensed consolidated statements of operations. Assets and liabilities are also reclassified into separate line items on the related condensed consolidated balance sheets for the periods presented. The statements of cash flows for the periods presented are also reclassified to reflect the results of discontinued operations as separate line items. ASU 2014-08 requires that only a disposal of a component of an entity, or a group of components of an entity, that represents a strategic shift that has, or will have, a major effect on the reporting entity’s operations and financial results be reported in the financial statements as discontinued operations. ASU 2014-08 also provides guidance on the financial statement presentations and disclosures of discontinued operations. Due to the sale of the Legacy Business during the third quarter of 2021, in accordance with ASC 205, Discontinued Operations, the Company has classified the results of the Legacy Business as discontinued operations in our unaudited condensed consolidated statements of operations and cash flows for all periods presented. All assets and liabilities associated with our Legacy Business were therefore classified as assets and liabilities of discontinued operations in our condensed consolidated balance sheets as of December 31, 2020. All amounts included in the notes to the unaudited condensed consolidated financial statements relate to continuing operations unless otherwise noted. For additional information, see Note 3, Discontinued Operations.
Basic and Diluted Loss per Share	Basic and Diluted Loss per Share The following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding as they would be anti-dilutive as of September 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 ​ Performance and restricted stock units ​ 1,456,910 ​ 2,092,419 ​ 1,456,910 ​ 2,591,811 ​ Options to purchase ordinary shares ​ 2,650,946 ​ 2,772,805 ​ 2,650,946 ​ 2,772,805 ​ Shares to be purchased through employee stock purchase plan ​ 79,919 ​ — ​ 79,919 ​ — ​ ​
Fair Value of Financial Instruments	Fair Value of Financial Instrument receivable, accounts payable and debt approximate book value because of the short maturity of these financial instruments. The valuation hierarchy is composed of three levels. The classification within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The levels within the valuation hierarchy are described below: Level 1 — Assets and liabilities with unadjusted, quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 — Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 — Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities.
Segment Reporting	Segment Reporting

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2021
Basis of Presentation and Summary of Significant Accounting Policies
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Nine Months Ended ​ ​ ​ September 30, ​ September 30, ​ ​ 2021 2020 2021 2020 ​ Performance and restricted stock units ​ 1,456,910 ​ 2,092,419 ​ 1,456,910 ​ 2,591,811 ​ Options to purchase ordinary shares ​ 2,650,946 ​ 2,772,805 ​ 2,650,946 ​ 2,772,805 ​ Shares to be purchased through employee stock purchase plan ​ 79,919 ​ — ​ 79,919 ​ — ​

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2021
Legacy Products And Manufacturing Facility [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Schedule of results of operations and carrying amounts of assets and liabilities of discontinued operations	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ Nine months ended ​ ​ September 30, ​ ​ September 30, ​ ​ 2021 2020 ​ 2021 ​ 2020 Total revenues ​ $ 15,551 $ 31,421 ​ $ 61,785 $ 116,726 Cost of goods sold (exclusive of depreciation and amortization shown separately below) ​ 4,973 ​ 10,938 ​ 23,435 ​ 41,583 Selling, general and administrative expense ​ 740 ​ 2,185 ​ 4,209 ​ 7,247 Depreciation and amortization ​ — ​ 4,592 ​ 6,583 ​ 13,925 Impairment of intangibles ​ — ​ 19,539 ​ — ​ 23,157 Research and development expenses ​ ​ 3,189 ​ ​ 1,947 ​ ​ 5,882 ​ ​ 5,921 Income (loss) from operations ​ 6,649 ​ (7,780) ​ 21,676 ​ 24,893 Interest expense ​ 1,495 ​ 2,493 ​ 6,399 ​ 7,808 Other income (loss), net ​ 1,171 ​ (102) ​ 1,058 ​ (486) Income (loss) from discontinued operations before costs of disposal and provision for income taxes ​ 3,983 ​ (10,171) ​ 14,219 ​ 17,571 Income tax expense (benefit) ​ (132) ​ 177 ​ 617 ​ 5,063 Income (loss) from discontinued operations before gain on disposal ​ ​ 4,115 ​ ​ (10,348) ​ ​ 13,602 ​ ​ 12,508 Gain on sales of discontinued operations ​ ​ 4,373 ​ ​ — ​ ​ 4,373 ​ ​ — Income (loss) from discontinued operations, net of tax ​ $ 8,488 ​ $ (10,348) ​ $ 17,975 ​ $ 12,508 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended ​ ​ September 30, Cash flows from operating activities: ​ 2021 2020 Depreciation and amortization ​ $ 6,583 ​ $ 13,925 Share compensation ​ ​ 619 ​ ​ 260 Impairment of intangibles ​ ​ — ​ ​ 23,157 ​ ​ ​ ​ ​ ​ ​ Cash flows from investing activities: ​ ​ ​ ​ ​ ​ Purchase of property, plant and equipment ​ $ (1,335) ​ $ (1,707) ​ ​ ​ ​ ​ ​ December 31, 2020 Cash and cash equivalents ​ $ — Accounts receivable, net ​ ​ 23,263 Inventories ​ 16,103 Prepaid expenses and other current assets ​ 2,163 Total current assets of discontinued operations ​ 41,529 Property, plant and equipment, net ​ 25,663 Operating lease right-of-use assets ​ 803 Goodwill ​ 45,008 Intangible assets, net ​ 30,667 Total non-current assets of discontinued operations ​ 102,141 Total assets of discontinued operations ​ $ 143,670 ​ ​ ​ ​ Accounts payable ​ $ 3,640 Accrued liabilities ​ 30,566 Current portion of operating lease liabilities ​ 278 Total current liabilities of discontinued operations ​ 34,484 Operating lease liabilities, net of current portion ​ 568 Total non-current liabilities of discontinued operations ​ 568 Total liabilities of discontinued operations ​ 35,052 Net assets of discontinued operations ​ $ 108,618 ​ ​ ​ ​ ​ ​ ​ September 30, 2021 Cash proceeds ​ $ 111,848 Less: transaction costs ​ ​ (6,335) Less: net assets transferred ​ ​ (101,140) Gain on sale, pre-tax ​ $ 4,373

Revenues (Tables)

Revenues (Tables)	9 Months Ended
	Sep. 30, 2021
Revenues
Schedule of disaggregation of revenue from contracts with customers	The following table disaggregates revenue with customers by pharmaceutical products (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ Pharmaceutical Products 2021 2020 2021 2020 Upneeq ​ $ 2,196 ​ $ 52 ​ $ 4,451 ​ $ 52 ​ Osmolex ​ — ​ 534 ​ — ​ ​ 946 ​ Net product sales ​ 2,196 ​ 586 ​ 4,451 ​ 998 ​ Royalty revenue ​ — ​ 165 ​ 190 ​ ​ 629 ​ Licensing revenue ​ — ​ 25,000 ​ 10,000 ​ ​ 25,000 ​ Total revenues ​ $ 2,196 ​ $ 25,751 ​ $ 14,641 ​ $ 26,627 ​

Accounts Receivable (Tables)

Accounts Receivable (Tables)	9 Months Ended
	Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of components of accounts receivable	Trade accounts receivable, net consisted of the following (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 Gross accounts receivable: ​ ​ Accounts receivable ​ $ — ​ $ 196 Royalty accounts receivable ​ ​ — ​ ​ 55 Other receivable ​ 4,190 ​ 2,903 Less reserves for: ​ ​ ​ ​ Commercial rebates ​ — ​ (4) Discounts and allowances ​ — ​ (1) Total accounts receivable, net ​ $ 4,190 ​ $ 3,149
Schedule of adjustments to gross product sales	The Company recorded the following adjustments to gross product sales (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended September 30, ​ Nine Months Ended September 30, ​ ​ 2021 2020 2021 2020 Gross product sales ​ $ 2,355 ​ $ 647 ​ $ 4,611 ​ $ 1,497 ​ Less provisions for: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Chargebacks ​ (1) ​ — ​ (2) ​ ​ — ​ Government and managed care rebates ​ — ​ (57) ​ — ​ ​ (96) ​ Commercial rebates ​ — ​ 2 ​ — ​ ​ (50) ​ Product returns ​ — ​ (3) ​ — ​ ​ (67) ​ Discounts and allowances ​ (158) ​ (1) ​ (158) ​ ​ (12) ​ Advertising and promotions ​ — ​ (2) ​ — ​ ​ (274) ​ Net product sales ​ $ 2,196 ​ $ 586 ​ $ 4,451 ​ $ 998 ​
Trade accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of activity in allowance/liability for customer deductions	The activity in the Company’s allowance for customer deductions against trade accounts receivable was as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Discounts ​ ​ ​ ​ Commercial ​ and ​ ​ ​ ​ ​ Rebates ​ Allowances ​ Total Balance at January 1, 2020 ​ $ 7 ​ $ 2 ​ $ 9 Provision ​ ​ 56 ​ ​ 14 ​ ​ 70 Charges processed ​ ​ (59) ​ ​ (15) ​ ​ (74) Balance at December 31, 2020 ​ $ 4 ​ $ 1 ​ $ 5 Provision ​ ​ — ​ ​ 158 ​ ​ 158 Charges processed ​ ​ (4) ​ ​ (159) ​ ​ (163) Balance at September 30, 2021 ​ $ — ​ $ — ​ $ —

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventories
Summary of components of inventories, net of allowances	The components of inventories, net of allowances, were as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 Finished goods ​ $ 824 ​ $ 1,593 Work in process ​ — ​ 90 Raw materials and supplies ​ — ​ 148 ​ ​ $ 824 ​ $ 1,831

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Other Intangible Assets
Schedule of carrying value of goodwill	​ ​ ​ ​ ​ ​ Goodwill January 1, 2020 ​ $ 55,847 Impairments ​ ​ — December 31, 2020 ​ ​ 55,847 Impairments ​ ​ — September 30, 2021 ​ $ 55,847
Schedule of major categories of the Company's intangible assets and the weighted average remaining amortization period	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Remaining ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Net ​ Amortization ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Carrying ​ Period ​ ​ Amount ​ Amortization ​ Impairment ​ Amount ​ (Years) IPR&D $ 35,090 $ — $ (7,880) $ 27,210 Indefinite Lived ​ ​ $ 35,090 ​ $ — ​ $ (7,880) ​ $ 27,210 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ Gross ​ ​ ​ ​ ​ ​ ​ Net ​ Remaining ​ ​ Carrying ​ Accumulated ​ ​ ​ ​ Carrying ​ Amortization ​ ​ Amount ​ Amortization ​ Impairment ​ Amount ​ Period (Years) IPR&D ​ $ 64,000 ​ $ — ​ $ (28,910) ​ $ 35,090 Indefinite Lived ​ ​ $ 64,000 ​ $ — ​ $ (28,910) ​ $ 35,090
Schedule of changes in the net carrying amount of intangible assets	Changes in the net carrying amount of intangible assets were as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ Intangible Assets Total January 1, 2020 ​ $ 64,000 ​ $ 64,000 Amortization ​ ​ — ​ ​ — Impairments ​ ​ (28,910) ​ ​ (28,910) December 31, 2020 ​ ​ 35,090 ​ ​ 35,090 Amortization ​ ​ — ​ ​ — Impairments ​ ​ (7,880) ​ ​ (7,880) September 30, 2021 ​ $ 27,210 ​ $ 27,210

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2021
Accrued Liabilities
Schedule of accrued liabilities	Accrued liabilities consist of the following (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 Accrued chargeback ​ $ — ​ $ 1,376 Accrued product returns ​ ​ — ​ ​ 88 Accrued royalties ​ ​ 144 ​ ​ 29 Accrued compensation ​ 6,570 ​ 6,232 Accrued government and managed care rebates ​ — ​ 46 Accrued research and development ​ ​ 312 ​ ​ 721 Accrued expenses and other liabilities ​ 11,289 ​ 8,455 Customer coupons ​ — ​ 4 Deferred revenue ​ 206 ​ — Total ​ $ 18,521 ​ $ 16,951

Financing Arrangements (Tables)

Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2021
Financing Arrangements
Schedule of Composition of Company's Debt and Financing Obligations	The composition of the Company’s debt and financing obligations were as follows (dollars in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ September 30, December 31, ​ ​ 2021 ​ 2020 CIT Bank, N.A. Term Loan, net of deferred financing costs of $0.1 million and $1.8 million as of September 30, 2021 and December 31, 2020, respectively ​ $ 29,925 ​ $ 219,525 Total debt ​ 29,925 ​ 219,525 Less: current portion ​ (29,925) ​ — Long-term debt ​ $ — ​ $ 219,525

Organization and Nature of Op_2

Organization and Nature of Operations (Details) $ in Millions	Aug. 27, 2021USD ($)
Stock transactions
Consideration	$ 111
Additional milestone payments	60
Legacy Products And Manufacturing Facility [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Stock transactions
Consideration	111
Additional milestone payments	$ 60

Basis of Presentation - Going C

Basis of Presentation - Going Concern Evaluation (Details) - USD ($) $ in Thousands, shares in Millions	Oct. 12, 2021	Aug. 27, 2021	Jul. 16, 2020	Jan. 13, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Cash and cash equivalents					$ 8,352	$ 126,093		$ 8,352	$ 126,093	$ 114,053	$ 95,865
Net losses					17,859	8,633		45,198	$ 24,715	$ 79,600
Consideration		$ 111,000
Additional milestone payments		60,000
Debt reduction		$ 186,100
Current portion of debt, net of deferred financing costs					29,925			$ 29,925
Number of ordinary shares issued			5	6.9
Issuance of ordinary shares, net of offering costs			$ 30,600	$ 31,800	$ 36	$ 30,649	$ 31,789
Subsequent Events
Debt Instrument [Line Items]
Debt reduction	$ 30,700
Face amount of debt	$ 55,000
Number of ordinary shares issued	14
Number of shares attributable to warrants	16.1
Issuance of ordinary shares, net of offering costs	$ 32,500

Basis of Presentation - Anti-di

Basis of Presentation - Anti-dilutive shares (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	1,456,910	2,092,419	1,456,910	2,591,811
Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	2,650,946	2,772,805	2,650,946	2,772,805
Shares to be purchased through employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	79,919		79,919

Basis of Presentation - Segment

Basis of Presentation - Segments (Details)	9 Months Ended
	Sep. 30, 2021segment
Basis of Presentation and Summary of Significant Accounting Policies
Number of operating segments	1
Number of reportable operating segments	1

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Aug. 27, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration					$ 111,000
Additional milestone payments					60,000
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Impairment of intangibles				$ 23,157
Gain on sales of discontinued operations, net	$ 4,373		$ 4,373
Income (loss) from discontinued operations, net of tax	8,488	$ (10,348)	17,975	12,508
Legacy Products And Manufacturing Facility [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration					111,000
Additional milestone payments					$ 60,000
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Total revenues	15,551	31,421	61,785	116,726
Cost of goods sold (exclusive of depreciation and amortization shown separately below)	4,973	10,938	23,435	41,583
Selling, general and administrative expenses	740	2,185	4,209	7,247
Depreciation and amortization		4,592	6,583	13,925
Impairment of intangibles		19,539		23,157
Research and development expenses	3,189	1,947	5,882	5,921
Income (loss) from operations	6,649	(7,780)	21,676	24,893
Interest expense	1,495	2,493	6,399	7,808
Other income (loss), net	1,171	(102)	1,058	(486)
Income (loss) from discontinued operations before costs of disposal and provision for income taxes	3,983	(10,171)	14,219	17,571
Income tax expense (benefit)	(132)	177	617	5,063
Income (loss) from discontinued operations before gain on disposal	4,115	(10,348)	13,602	12,508
Gain on sales of discontinued operations, net	4,373		4,373
Income (loss) from discontinued operations, net of tax	$ 8,488	$ (10,348)	$ 17,975	$ 12,508

Discontinued Operations - Cash

Discontinued Operations - Cash flows (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities:
Impairment of intangibles			$ 23,157
Legacy Products And Manufacturing Facility [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Cash Flows from Operating Activities:
Depreciation and amortization	$ 4,592	$ 6,583	13,925
Share compensation		619	260
Impairment of intangibles	$ 19,539		23,157
Cash flows from Financing Activities:
Purchase of property, plant and equipment		$ (1,335)	$ (1,707)

Discontinued Operations - Balan

Discontinued Operations - Balance Sheet (Details) $ in Thousands	Dec. 31, 2020USD ($)
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Total current assets of discontinued operations	$ 41,529
Total non-current assets of discontinued operations	102,141
Total current liabilities of discontinued operations	34,484
Total non-current liabilities of discontinued operations	568
Legacy Products And Manufacturing Facility [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Disposal Group, Including Discontinued Operation, Balance Sheet Disclosures [Abstract]
Accounts receivable, net	23,263
Inventories	16,103
Prepaid expenses and other current assets	2,163
Total current assets of discontinued operations	41,529
Property, plant and equipment, net	25,663
Operating lease right-of-use assets	803
Goodwill	45,008
Intangible assets, net	30,667
Total non-current assets of discontinued operations	102,141
Total assets of discontinued operations	143,670
Accounts payable	3,640
Accrued liabilities	30,566
Current portion of operating lease liabilities	278
Total current liabilities of discontinued operations	34,484
Operating lease liabilities, net of current portion	568
Total non-current liabilities of discontinued operations	568
Total liabilities of discontinued operations	35,052
Net assets of discontinued operations	$ 108,618

Discontinued Operations - Gain

Discontinued Operations - Gain on Sale (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from discontinued operations		$ 110,845
Gain on sale, pre-tax	$ 4,373	4,373
Legacy Products And Manufacturing Facility [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from discontinued operations	111,848
Less: Transaction costs	(6,335)
Less: Net assets transferred	(101,140)
Gain on sale, pre-tax	$ 4,373	$ 4,373

Revenues (Details)

Revenues (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 2,196,000	$ 25,751,000	$ 14,641,000	$ 26,627,000
Contract with customer, asset and liability
Deferred revenue	200,000		200,000
Contract assets	0		0
Cost to obtain or fulfill contracts	0		0
Product Revenue
Disaggregation of Revenue [Line Items]
Revenues	2,196,000	586,000	4,451,000	998,000
Osmolex [Member]
Disaggregation of Revenue [Line Items]
Revenues		534,000		946,000
Upneeq
Disaggregation of Revenue [Line Items]
Revenues	2,196,000	52,000	4,451,000	52,000
Royalty Revenue
Disaggregation of Revenue [Line Items]
Revenues		165,000	190,000	629,000
License and contract revenue
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 25,000,000	$ 10,000,000	$ 25,000,000

Accounts Receivable - Trade acc

Accounts Receivable - Trade accounts receivable, net (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves		$ (5)	$ (9)
Total trade accounts receivable, net	$ 4,190	3,149
Commercial rebates
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves		(4)	(7)
Discounts and allowances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves		(1)	$ (2)
Trade accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross trade accounts receivable		196
Royalty accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross trade accounts receivable		55
Other receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross trade accounts receivable	$ 4,190	$ 2,903

Accounts Receivable - Adjustmen

Accounts Receivable - Adjustment to gross product sales (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues	$ 2,196	$ 25,751	$ 14,641	$ 26,627
Product Revenue
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross product sales	2,355	647	4,611	1,497
Revenues	2,196	586	4,451	998
Product Revenue | Chargebacks
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales	(1)		(2)
Product Revenue | Government And Managed Care Rebates [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales		(57)		(96)
Product Revenue | Commercial rebates
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales		2		(50)
Product Revenue | Product returns
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales		(3)		(67)
Product Revenue | Discounts and allowances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales	$ (158)	$ (1)	$ (158)	$ (12)

Accounts Receivable - Allowance

Accounts Receivable - Allowance for customer deduction (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 5	$ 9
Provision	158	70
Charges processed	(163)	(74)
Balance at end of period		5
Commercial rebates
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	4	7
Provision		56
Charges processed	(4)	(59)
Balance at end of period		4
Discounts and allowances
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	1	2
Provision	158	14
Charges processed	$ (159)	(15)
Balance at end of period		$ 1

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Inventories
Finished goods	$ 824	$ 1,593
Work in process		90
Raw materials and supplies		148
Total	824	1,831
Summary of activity in the allowance for excess, obsolete, and net realizable value inventory account
Balance at beginning of period	5	9
Provision	158	70
Charges processed	(163)	(74)
Balance at end of period		5
Allowance for excess and obsolete inventory
Summary of activity in the allowance for excess, obsolete, and net realizable value inventory account
Provision	0	0
Charges processed	$ 0	$ 0

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 55,847	$ 55,847
Goodwill impairment	0	0
Goodwill, Ending Balance	$ 55,847	$ 55,847

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Major Categories (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Schedule of major categories of the Company's intangible assets and the weighted average remaining amortization period
Impairment of intangibles	$ 7,880	$ 28,910
Impairment	(7,880)	(28,910)
Gross carrying amount	35,090	64,000
Net carrying amount	27,210	35,090	$ 64,000
IPR&D
Schedule of major categories of the Company's intangible assets and the weighted average remaining amortization period
Impairment of intangibles	7,880	28,910
Gross carrying amount, Indefinite-lived	35,090	64,000
Impairment	(7,880)	(28,910)
Indefinite-lived intangible assets	27,210	35,090
Net carrying amount	$ 27,210	$ 35,090	$ 64,000
IPR&D | Measurement Input, Discount Rate [Member]
Schedule of major categories of the Company's intangible assets and the weighted average remaining amortization period
Intangible Asset Measurement Input	0.125	0.125
IPR&D | Measurement Input, Discount for Lack of Marketability [Member]
Schedule of major categories of the Company's intangible assets and the weighted average remaining amortization period
Intangible Asset Measurement Input	0.696	0.696

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Changes in Net Carrying Amount of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Schedule of major categories of the Company's intangible assets and the weighted average remaining amortization period
Balance at the beginning of the period	$ 35,090	$ 64,000	$ 64,000
Amortization	0	0
Impairments	(7,880)		(28,910)
Balance at the end of the period	27,210		35,090
Amortization expense	0	0
IPR&D
Schedule of major categories of the Company's intangible assets and the weighted average remaining amortization period
Balance at the beginning of the period	35,090	$ 64,000	64,000
Impairments	(7,880)		(28,910)
Balance at the end of the period	$ 27,210		$ 35,090

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accrued Liabilities
Accrued Chargeback		$ 1,376
Accrued product returns		88
Accrued royalties	$ 144	29
Accrued compensation	6,570	6,232
Accrued government and managed care rebates		46
Accrued research and development	312	721
Accrued expenses and other liabilities	11,289	8,455
Customer coupons		4
Deferred revenue	206
Accrued Liabilities	$ 18,521	$ 16,951

Financing Arrangements - Compon

Financing Arrangements - Components (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Financing Arrangements
Long-term debt	$ 29,925	$ 219,525
Less current portion	(29,925)
Long-term debt, net of non-current deferred financing costs		219,525
Deferred financing costs	100	1,800
CIT Bank, N.A. Term Loan
Financing Arrangements
Long-term debt	$ 29,925	$ 219,525

Financing Arrangements - Term l

Financing Arrangements - Term loan (Details)	Sep. 30, 2021	Dec. 31, 2020
Term A Loan
Financing Arrangements
Effective interest rate (as percent)	4.75%	4.75%
Term B Loan
Financing Arrangements
Effective interest rate (as percent)	5.25%	5.25%

Financing Arrangements - Revolv

Financing Arrangements - Revolving credit facility (Details) - USD ($) $ in Thousands, shares in Millions	Oct. 12, 2021	Aug. 27, 2021	Jul. 16, 2020	Jan. 13, 2020	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Financing Arrangements
Debt issuance costs written off					$ 1,400		$ 1,387	$ 496
Number of ordinary shares issued			5	6.9
Subsequent Events
Financing Arrangements
Face amount of debt	$ 55,000
Number of ordinary shares issued	14
Number of shares attributable to warrants	16.1
CIT Bank, N.A. Term Loan
Financing Arrangements
Repayment Of Debt, Principal Portion		$ 186,100				$ 5,300
CIT Bank, N.A. Term Loan | Subsequent Events
Financing Arrangements
Repayment Of Debt, Principal Portion	$ 29,900
Term A Loan
Financing Arrangements
Repayment Of Debt, Principal Portion		157,400
Term B Loan
Financing Arrangements
Repayment Of Debt, Principal Portion		$ 28,700

Incentive Plans - (Details)

Incentive Plans - (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 5.9	$ 3.3
Unrecognized compensation cost	$ 5.4
Unrecognized compensation cost, recognition period	6 months
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted	150,188	1,644,778
Outstanding at end of period, shares	1,456,910
Number of shares that vested during the period	451,061	280,381
Options outstanding, weighted average contractual term	1 year 18 days
Remaining contractual term	2 years 3 months 25 days

Commitments and Contingencies -

Commitments and Contingencies - Legal (Details) $ in Thousands	Jun. 11, 2021USD ($)	Apr. 19, 2021item	Jan. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Jul. 22, 2019item
Commitments and Contingencies
Aggregate milestones payable				$ 1,300
Proceeds from product rights disposal			$ 7,500	7,300
Gain on sales of product rights, net			$ 5,600	$ 5,636
Agreement Term			6 years
Agreement Extension Period			2 years
Number of claims | item					2
Settlement to be paid	$ 5,250
Number of defendants | item		4
Number of states seeking damages | item		29

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Taxes
Income tax expense (benefit)	$ 324	$ (1,308)	$ 415	$ (5,042)
Loss before income tax	$ 26,023	$ (407)	$ 62,758	$ 42,265

Related Parties (Details)

Related Parties (Details) - Avista	9 Months Ended
	Sep. 30, 2021USD ($)
Related Party Transaction [Line Items]
Accrued liability	$ 0
Related party expenses	$ 0

Shareholders' Equity - Share re

Shareholders' Equity - Share repurchase program, ESPP, SBC (Details) - USD ($)	Jul. 02, 2021	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Equity, Class of Treasury Stock [Line Items]
Repurchase authorization, number of shares				5,251,892
Shares repurchased, in shares		0
Maximum deduction per pay period		$ 2,000
Share price, as percentage of fair market value		85.00%
Unrecognized compensation cost		$ 5,400,000
ESPP, shares issued during the period	37,111
Share-based compensation expense		$ 5,900,000	$ 3,300,000
Unrecognized compensation cost, recognition period		6 months
Maximum
Equity, Class of Treasury Stock [Line Items]
ESPP expense recognized		$ 100,000
Employee Share Purchase Plan 2019 [Member] | Maximum
Equity, Class of Treasury Stock [Line Items]
Unrecognized compensation cost		$ 100,000

Shareholders' Equity - Equity o

Shareholders' Equity - Equity offering (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	Jul. 16, 2020	Jan. 13, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Number of ordinary shares issued	5,000	6,900
Sale of Stock, Price Per Share		$ 5
Issuance of ordinary shares, net of offering costs	$ 30,600	$ 31,800	$ 36	$ 30,649	$ 31,789
Over-Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Number of ordinary shares issued		900

Restructuring Expenses (Details

Restructuring Expenses (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 4.5
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	2
Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1.2
Nonoperating Income (Expense) [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	1.3
Special Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	3.2
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses	$ 1.3

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 12, 2021	Oct. 11, 2021	Oct. 01, 2021	Aug. 27, 2021	Jul. 16, 2020	Jan. 13, 2020	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Subsequent Events
Number of ordinary shares issued					5,000,000	6,900,000
Proceeds from public offering, net of issuance costs								$ 36	$ 62,440
Over-Allotment Option [Member]
Subsequent Events
Number of ordinary shares issued						900,000
CIT Bank, N.A. Term Loan
Subsequent Events
Repayment of principal				$ 186,100			$ 5,300
Term A Loan
Subsequent Events
Repayment of principal				157,400
Term B Loan
Subsequent Events
Repayment of principal				$ 28,700
Subsequent Events
Subsequent Events
Face amount of debt	$ 55,000
Number of ordinary shares issued	14,000,000
Number of shares attributable to warrants	16,100,000
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 3.10
Warrants and Rights Outstanding, Term		3 years 6 months
Proceeds from public offering, net of issuance costs		$ 32,500
Subsequent Events | Share subscription agreement
Subsequent Events
Number of ordinary shares issued	6,148,832
Share Price	$ 0.01
Subsequent Events | Over-Allotment Option [Member]
Subsequent Events
Number of ordinary shares issued	2,100,000	2,100,000
Number of shares attributable to warrants	2,100,000
Subsequent Events | Follow On Offering [Member]
Subsequent Events
Number of ordinary shares issued	14,000,000
Share Price	$ 2.50
Number of shares attributable to warrants	14,000,000
Subsequent Events | Senior Secured Notes Under Note Purchase Agreement [Member]
Subsequent Events
Interest rate			9.00%
Debt instrument term			5 years
Exit fee (as a percent)			2.00%
Subsequent Events | Senior Secured Notes Under Note Purchase Agreement [Member] | Minimum
Subsequent Events
Margin rate, as a percent			1.50%
Subsequent Events | Senior Secured Notes Under Note Purchase Agreement [Member] | Maximum
Subsequent Events
Margin rate, as a percent			3.00%
Subsequent Events | Senior Secured Notes Under Note Purchase Agreement, Tranche One [Member]
Subsequent Events
Face amount of debt	$ 55,000
Subsequent Events | CIT Bank, N.A. Term Loan
Subsequent Events
Repayment of principal	29,900
Repayment of accrued interest	$ 700
Subsequent Events | Scenario, Plan [Member] | Senior Secured Notes Under Note Purchase Agreement [Member]
Subsequent Events
Face amount of debt			$ 100,000
Subsequent Events | Scenario, Plan [Member] | Senior Secured Notes Under Note Purchase Agreement, Tranche Two [Member]
Subsequent Events
Face amount of debt			20,000
Subsequent Events | Scenario, Plan [Member] | Senior Secured Notes Under Note Purchase Agreement, Tranche Three [Member]
Subsequent Events
Face amount of debt			$ 25,000