RVL Pharmaceuticals (RVLPQ) 10-Q11 Aug 222022 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2022	Aug. 10, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Current Fiscal Year End Date	--12-31
Entity File Number	001-38709
Entity Registrant Name	RVL 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, $0.01 nominal value per share
Trading Symbol	RVLP
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		99,149,955
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001739426
Amendment Flag	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 27,413	$ 40,444
Other receivables	1,833	2,133
Inventories, net	528	838
Prepaid expenses and other current assets	9,287	12,901
Financial commitment asset	1,128	3,063
Total current assets	40,189	59,379
Property, plant and equipment, net	713	866
Operating lease assets	871	1,368
Indefinite-lived intangible assets	27,210	27,210
Goodwill	55,847	55,847
Total assets	124,830	144,670
Current liabilities:
Trade accounts payable	5,437	3,777
Accrued liabilities	11,947	13,077
Current portion of debt	607	2,409
Current portion of obligations under finance leases	1	5
Current portion of lease liability	552	839
Income taxes payable - current portion	11	1
Total current liabilities	18,555	20,108
Long-term debt (measured at fair value and representing $55,000 of aggregate unpaid principal)	42,900	43,800
Warrant liability	4,273	3,220
Long-term portion of lease liability	349	592
Income taxes payable - long term portion	68	66
Deferred taxes	174	151
Total liabilities	66,319	67,937
Commitments and contingencies (See Note 11)
Shareholders' equity:
Ordinary shares ($0.01 nominal value, 400,000,000 shares authorized, 83,617,567 and 83,297,567 shares issued and outstanding at June 30, 2022 and December 31, 2021, respectively)	836	833
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	594,132	591,730
Accumulated deficit	(536,457)	(517,530)
Accumulated other comprehensive income		1,700
Total shareholders' equity	58,511	76,733
Total liabilities and shareholders' equity	$ 124,830	$ 144,670

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Unaudited Condensed Consolidated Balance Sheets
Fair value long-term debt	$ 55,000	$ 55,000
Ordinary shares, nominal value (in dollars per share)	$ 0.01	$ 0.01
Ordinary shares, number of shares authorized	400,000,000	400,000,000
Ordinary shares, number of shares issued	83,617,567	83,297,567
Ordinary shares, number of shares outstanding	83,617,567	83,297,567
Preferred shares, nominal value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares, number of shares authorized	40,000,000	40,000,000
Preferred shares, number of shares issued	0	0
Preferred shares, number of shares outstanding	0	0
Euro deferred shares, nominal value (in euros per share)	$ 1	$ 1
Euro deferred shares, number of shares authorized	25,000	25,000
Euro deferred shares, number of shares issued	0	0
Euro deferred shares, number of shares outstanding	0	0

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Total revenues	$ 8,448	$ 11,510	$ 29,892	$ 12,445
Cost of goods sold	2,227	709	4,371	1,388
Gross profit	6,221	10,801	25,521	11,057
Selling, general and administrative expenses	20,169	21,047	44,003	37,999
Research and development expenses	1,176	2,052	2,038	4,256
Impairment of intangible assets		7,880		7,880
Total operating expenses	21,345	30,979	46,041	50,135
Operating loss before gain on sales of product rights, net	(15,124)	(20,178)	(20,520)	(39,078)
Gain on sales of product rights, net				5,636
Operating loss	(15,124)	(20,178)	(20,520)	(33,442)
Interest expense and amortization of debt discount	978	494	1,963	1,015
Change in fair value of debt and interest expense	(740)		304
Change in fair value of warrants	(3,455)		1,053
Other non-operating (income) expense, net	(78)	1,202	(5,115)	1,193
Total other non-operating (income) expense	3,295	(1,696)	1,795	(2,208)
Loss before income taxes	(11,829)	(21,874)	(18,725)	(35,650)
Income tax expense, continuing operations	277	94	202	90
Loss from continuing operations	(12,106)	(21,968)	(18,927)	(35,740)
Income from discontinued operations before income taxes		4,454		9,153
Income tax expense, discontinued operations		213		752
Income from discontinued operations, net of tax		4,241		8,401
Net loss	(12,106)	(17,727)	(18,927)	(27,339)
Change in fair value of debt due to change in credit risk, net of tax			(1,700)
Comprehensive loss	$ (12,106)	$ (17,727)	$ (20,627)	$ (27,339)
(Loss) earnings per ordinary share:
(Loss) earnings per ordinary share, Continuing operations, basic	$ (0.14)	$ (0.35)	$ (0.23)	$ (0.57)
(Loss) earnings per ordinary share, Continuing operations, diluted	(0.14)	(0.35)	(0.23)	(0.57)
(Loss) earnings per ordinary share, Discontinued operations, basic		0.07		0.13
(Loss) earnings per ordinary share, Discontinued operations, diluted		0.07		0.13
(Loss) earnings per ordinary share, basic	(0.14)	(0.28)	(0.23)	(0.44)
(Loss) earnings per ordinary share, diluted	$ (0.14)	$ (0.28)	$ (0.23)	$ (0.44)
Weighted average ordinary shares outstanding:
Weighted average ordinary shares outstanding, basic	83,580,906	62,767,400	83,535,655	62,723,011
Weighted average ordinary shares outstanding, diluted	83,580,906	62,767,400	83,535,655	62,723,011
Net product sales
Total revenues	$ 8,448	$ 1,482	$ 14,392	$ 2,255
Royalty Revenue
Total revenues		28		190
Royalty and licensing revenue
Total revenues		$ 10,000	$ 15,500	$ 10,000

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Ordinary shares	Additional Paid-in Capital [Member]	Accumulated deficit	Accumulated other comprehensive income (loss)	Total
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]
Share compensation, value	$ 2	1,309			1,311
Share compensation, shares	173,299
Net loss			(9,612)		(9,612)
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					(27,339)
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
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]
Share compensation, value	$ 1	1,232			1,233
Share compensation, shares	128,931
Net loss			(17,727)		(17,727)
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
Stockholders' equity, beginning balance at Dec. 31, 2021	$ 833	591,730	(517,530)	1,700	76,733
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	83,297,567
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share compensation, value	$ 2	1,326			1,328
Share compensation, shares	217,844
Net loss			(6,821)		(6,821)
Payments for taxes related to the net share settlement of equity awards		(57)			(57)
Change in credit risk associated with fair value of debt				(1,700)	(1,700)
Stockholders' equity, ending balance at Mar. 31, 2022	$ 835	592,999	(524,351)		69,483
Shares, Outstanding, Ending Balance at Mar. 31, 2022	83,515,411
Stockholders' equity, beginning balance at Dec. 31, 2021	$ 833	591,730	(517,530)	$ 1,700	76,733
Shares, Outstanding, Beginning Balance at Dec. 31, 2021	83,297,567
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss					(18,927)
Stockholders' equity, ending balance at Jun. 30, 2022	$ 836	594,132	(536,457)		58,511
Shares, Outstanding, Ending Balance at Jun. 30, 2022	83,617,567
Stockholders' equity, beginning balance at Mar. 31, 2022	$ 835	592,999	(524,351)		69,483
Shares, Outstanding, Beginning Balance at Mar. 31, 2022	83,515,411
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share compensation, value	$ 1	1,207			1,208
Share compensation, shares	102,156
Net loss			(12,106)		(12,106)
Payments for taxes related to the net share settlement of equity awards		(74)			(74)
Stockholders' equity, ending balance at Jun. 30, 2022	$ 836	$ 594,132	$ (536,457)		$ 58,511
Shares, Outstanding, Ending Balance at Jun. 30, 2022	83,617,567

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Operating Activities:
Net loss from continuing operations	$ (18,927)	$ (35,740)
Net income from discontinued operations		8,401
Net loss	(18,927)	(27,339)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	180	7,914
Share compensation	2,418	2,409
Change in fair value of debt	(2,600)
Change in fair value of warrants	1,053
Impairment of intangible assets		7,880
Deferred income tax benefit	23	267
(Gain) loss on sale of fixed and leased assets	(94)	1,244
Gain on sale of product rights, net		(5,636)
Amortization of deferred financing and loan origination fees	1,935	552
Write off of deferred financing and loan origination fees		37
Change in operating assets and liabilities:
Other receivables	300	3,875
Inventories, net	310	1,606
Prepaid expenses and other current assets	3,614	(1,004)
Trade accounts payable	1,659	(1,004)
Accrued and other current liabilities	(1,151)	(5,209)
Net cash used in operating activities	(11,280)	(14,408)
Cash Flows from Investing Activities:
Proceeds from product rights disposal		7,300
Proceeds from sale of fixed and leased assets	94	25
Purchases of property, plant and equipment	(27)	(1,398)
Net cash provided by investing activities	67	5,927
Cash Flows from Financing Activities:
Payments on finance lease obligations	(4)	(27)
Payments on insurance financing loan	(1,802)
Payments for taxes related to net share settlement of share-based awards	(131)	(607)
Proceeds from issuance of ordinary shares under ESPP	119	139
Debt repayments		(5,300)
Net cash used in financing activities	(1,818)	(5,795)
Net change in cash and cash equivalents	(13,031)	(14,276)
Cash and cash equivalents, beginning of period	40,444	114,053
Cash and cash equivalents, end of period	$ 27,413	$ 99,777

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
Organization and Nature of Operations	Jun. 30, 2022
Organization and Nature of Operations
Organization and Nature of Operations	Note 1. Organization and Nature of Operations RVL Pharmaceuticals plc, an Irish public limited company, together with its subsidiaries (the “Company”), is a specialty pharmaceutical company focused on the development and commercialization 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 hydrochloride ophthalmic solution), 0.1%, for the treatment of acquired blepharoptosis, or droopy or low-lying eyelids in adults. Upneeq was commercially launched in September 2020 to a limited number of eye care professionals with commercial operations expanded in 2021 among ophthalmology, optometry and oculoplastic specialties. In February 2022, Upneeq was commercially expanded into the medical aesthetics market. 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 (“Alora”) for $111 million in cash upon closing, subject to certain adjustments, and up to $60 million in additional contingent milestone payments. Pursuant to the agreement the Company retained the rights to Upneeq and to arbaclofen extended release (“ER”) tablets which is under development for the treatment of spasticity in multiple sclerosis. With the divestiture of the Legacy Business the Company’s commercial operations are conducted by its wholly-owned subsidiaries, RVL Pharmaceuticals, Inc. (“RVL Pharmaceuticals”) and RVL Pharmacy, LLC, (“RVL Pharmacy”). RVL Pharmacy operates pharmacy operations dedicated to the processing and fulfillment of prescriptions for Upneeq. Unless otherwise indicated or required by the context, references throughout to “RVL,” or the “Company,” refer to the Company’s continuing operations following the sale of the Legacy Business to Alora.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
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 Basis of Presentation 31, 2022 or any period thereafter. The accompanying condensed consolidated balance sheet data as of December 31, 2021 was derived from the audited consolidated financial statements. Management believes that the disclosures included herein are adequate to make the information presented not misleading in any material respect when read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021. Those audited consolidated financial statements include a summary of our significant accounting policies, updates to which are included in this Note 2. Discontinued Operations The divestiture of the Legacy Business qualifies as a discontinued operation and therefore has been presented as such. See Note 4, Discontinued Operations, for more information. Use of Estimates Supplemental Cash Flow Disclosures Six Months Ended June 30, 2022 2021 Cash paid for: Interest $ 2,931 $ 5,349 Income taxes $ 142 $ 1,913 Recently Issued Accounting Standards In August 2020, the FASB issued Accounting Standards Update 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity There are no other recently issued accounting standards that are expected to have a material impact to the Company’s financial position or results of operations upon adoption.

Liquidity

Liquidity	6 Months Ended
Liquidity	Jun. 30, 2022
Liquidity
Liquidity	Note 3. Liquidity At June 30, 2022, the Company had cash and cash equivalents of $27.4 million, an accumulated deficit of $536.5 million, and total long-term debt with aggregate principal maturities of $55.0 million, with such maturities commencing in March 2024 and extending through October 2026 (see Note 8). In addition, the Company’s primary indebtedness contains various restrictive covenants including minimum liquidity and minimum quarterly product sales requirements. For the six months ended June 30, 2022 and 2021, the Company incurred net losses from continuing operations of million, respectively, in cash for operating activities. The divestiture of the Legacy Business in 2021 resulted in the loss of substantially all the Company’s revenue generating assets. The Company’s current business plan is focused on the continued launch and commercialization of Upneeq, which has and will continue to diminish the Company’s cash flows in at least the near term. The Company will require additional capital to fund its operating needs, including the expanded commercialization of Upneeq and other activities. The Company expects to continue to incur significant expenditures and sustained operating losses in the future. Management of the Company does not believe that current sources of liquidity will be sufficient to fund the Company’s planned expenditures and meet its obligations for at least 12 months following the date the accompanying unaudited condensed consolidated financial statements are issued without raising additional funding. As a result, there is a substantial doubt as to the Company’s ability to operate as a going concern. The Company’s ability to continue as a going concern will require it to obtain additional funding, generate positive cash flow from operations and/or enter into strategic alliances or sell assets. Management’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 is entirely within its control, (i) raise funds through additional sales of ordinary shares, through equity sales agreements with brokers/dealers or other public or private equity financings, (ii) raise funds through borrowings under existing debt facilities and/or convertible debt, and/or (iii) raise non-dilutive funds through product collaborations and/or to partner or sell a portion or all rights to any of the Company’s assets. In August 2022, the Company raised an aggregate of $43.9 million, comprised of $23.9 million in aggregate gross proceeds from the private placement of ordinary shares and, concurrently, $20.0 million from the issuance of second tranche Senior Secured Notes (see Note 16), to enhance liquidity in furtherance of certain of management’s plans as described above. There can be no assurance that the Company will receive cash proceeds from any of these potential sources or, to the extent cash proceeds are received, such proceeds would be sufficient to support its current operating plan for at least the next 12 months from the date the accompanying unaudited condensed consolidated financial statements are issued. The sale of additional equity or convertible debt securities may result in dilution to the Company’s shareholders. If the Company raises additional funds through the issuance of debt securities or preferred shares, these securities could provide for rights senior to those of its ordinary shares and could contain covenants that would further restrict its operations. Additional funds may not be available when the Company needs them, on terms that are acceptable to it, or at all. The accompanying 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, and therefore 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.

Discontinued Operations

Discontinued Operations	6 Months Ended
Discontinued Operations	Jun. 30, 2022
Discontinued Operations
Discontinued Operations	Note 4. Discontinued Operations On August 27, 2021, the Company announced the closing of the divestiture of its Legacy Business to certain affiliates of Alora for $111 million in cash upon closing, subject to certain adjustments, and up to $60 million in additional contingent milestone payments. During the six months ended June 30, 2022, the Company received an aggregate of $5.0 million in cash from Alora related to contingent milestone payments earned in connection with the sale of the Legacy Business, such income was recognized and classified within other non-operating income, net in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss. The Company has determined the divestiture of the Legacy Business represents a Discontinued Operations The following table presents the results of discontinued operations (in thousands): Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 Total revenues $ 23,289 $ 46,234 Cost of goods sold (inclusive of depreciation and amortization) 12,235 25,045 Selling, general and administrative expenses 2,426 4,396 Research and development expenses 1,744 2,850 Income from operations 6,884 13,943 Interest expense and amortization of debt discount 2,465 4,904 Other non-operating income, net (35) (114) Income from discontinued operations before provision for income taxes 4,454 9,153 Income tax expense 213 752 Income from discontinued operations, net of tax $ 4,241 $ 8,401 The following table presents the significant non-cash items and purchase of property, plant and equipment for the discontinued operations that are included in the accompanying unaudited condensed consolidated statements of cash flows (in thousands): Three Months Ended Six Months Ended Cash flows from operating activities: June 30, 2021 June 30, 2021 Depreciation and amortization $ 3,274 $ 6,583 Share compensation 101 204 Cash flows from investing activities: Purchases of property, plant and equipment $ 912 $ 1,226

Revenues

Revenues	6 Months Ended
Revenues	Jun. 30, 2022
Revenues
Revenues	Note 5. 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 presents disaggregated revenues from contracts with customers (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net product sales - Upneeq $ 8,448 $ 1,482 $ 14,392 $ 2,255 Royalty revenue — 28 — 190 Licensing revenue — 10,000 15,500 10,000 Total revenues $ 8,448 $ 11,510 $ 29,892 $ 12,445 On July 28, 2020, the Company entered into a License Agreement with Santen Pharmaceutical Co. Ltd (“Santen”), 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 (the “License Agreement”). Under the License 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 six months ended June 30, 2021, the Company received a $10.0 million milestone payment from Santen which was recognized as license revenue as all performance obligations were met. On March 29, 2022, RVL Pharmaceuticals entered into the First Amendment to License Agreement (the “Amendment”) with Santen, amending the License Agreement. Under the terms of the Amendment, effective March 31, 2022, RVL Pharmaceuticals became entitled to receive an upfront cash payment of $15.5 million, and the remaining developmental and regulatory cash milestone payments, were removed. Pursuant to the terms of the Amendment, new developmental and regulatory cash milestone payments with an aggregate value of up to $1.0 million will be payable to RVL Pharmaceuticals. In addition, the territories were expanded to include additional EMEA countries and Canada, and during the first five years following the effective date of the Amendment, Santen was granted an option to expand the territories to include Russia, subject to additional upfront and milestone payments of $2.0 million and $1.0 million, respectively. Further, under the terms of the Amendment, if RVL Pharmaceuticals desires to enter into an agreement to license certain rights related to the License Agreement to a third party in Russia, then Santen will have a right to exercise an option to expand the territories to include Russia or to match the terms of the agreement with the third party. During the six months ended June 30, 2022, the Company recognized $15.5 million in license revenue from Santen under the Amendment 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 $0.9 million at June 30, 2022 and an immaterial amount at December 31, 2021 (see Note 7). 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 generally does not incur costs to obtain or fulfill contracts meeting the capitalization criteria under ASC Topic 340, Other Assets and Deferred Costs. The following table presents the various adjustments recognized against gross product sales (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Gross product sales $ 8,538 $ 1,483 $ 14,565 $ 2,256 Less provisions for: Chargebacks (2) (1) (3) (1) Discounts and allowances (88) — (170) — Net product sales $ 8,448 $ 1,482 $ 14,392 $ 2,255

Other Receivables

Other Receivables	6 Months Ended
Other Receivables	Jun. 30, 2022
Other Receivables
Other Receivables	Note 6. Other Receivables Other receivables result primarily from payroll retention credits and other miscellaneous activities.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
Accrued Liabilities	Jun. 30, 2022
Accrued Liabilities
Accrued Liabilities	Note 7. Accrued Liabilities The following table presents the components of accrued liabilities (in thousands): June 30, December 31, 2022 2021 Accrued expenses and other liabilities $ 5,313 $ 7,897 Accrued compensation 4,101 4,504 Accrued royalties 1,079 200 Deferred revenue 931 67 Accrued research and development 523 409 Total accrued liabilities $ 11,947 $ 13,077

Financing Arrangements

Financing Arrangements	6 Months Ended
Financing Arrangements	Jun. 30, 2022
Financing Arrangements
Financing Arrangements	Note 8. Financing Arrangements The following table presents the components of long-term debt and financing obligations (in thousands): June 30, December 31, 2022 2021 Senior Secured Notes (measured at fair value) $ 42,900 $ 43,800 Note payable — insurance financing 607 2,409 Total debt and financing obligations 43,507 46,209 Less: current portion of debt (607) (2,409) Long-term debt $ 42,900 $ 43,800 The following table presents the aggregation of principal maturities of long-term debt and financing obligations (in thousands): Year Ending December 31, Debt Obligations Remainder of 2022 $ 607 2023 — 2024 11,000 2025 11,000 2026 33,000 Total future minimum payments 55,607 Less: current portion of debt principal (607) Non-current portion of debt principal $ 55,000 Senior Secured Notes On October 1, 2021, the Company entered into a note purchase agreement (the “Note Purchase Agreement”) with, among others, Athyrium Opportunities IV Acquisition 2 LP (“Purchaser”) providing for the issuance of senior secured notes in three separate tranches (the “Senior Secured Notes”). On October 12, 2021, the Company issued $55.0 million first tranche notes, a portion of the proceeds of which, together with the proceeds from a concurrent underwritten equity offering, were used to repay in full the obligations under a prior credit agreement. Prior to October 12, 2022, upon satisfaction of certain conditions, including a minimum net product sales target for Upneeq over a specified period of time, the Company may request second tranche notes of up to $20.0 million. Prior to October 12, 2023, the Company may request third tranche notes of up to $25.0 million, in the sole discretion of the Purchaser. The Senior Secured Notes bear interest at an annual 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 in arrears. At June 30, 2022, the interest rate applicable to the Senior Secured Notes was 10.5% . Effective July 1, 2022, the interest rate applicable to the Senior Secured Notes was approximately In addition, the restrictive covenants in the Note Purchase Agreement require the Company to comply with certain minimum liquidity requirements and minimum quarterly product sales requirements. At any time, the Company is required to maintain unrestricted cash and cash equivalents greater than or equal to $15.0 million, and, as of the end of each fiscal quarter, it is required to maintain consolidated Upneeq net product sales greater than or equal to specified quarterly thresholds (currently at $4.0 million for the quarter ending June 30, 2022, and increasing in $1.0 million increments each quarter thereafter until the quarter ending June 30, 2024, for which quarter and all subsequent quarters the threshold is $12.0 million). At June 30, 2022, the Company was in compliance with all conditions of the Note Purchase Agreement. During the year ended December 31, 2021, the Company incurred aggregate debt issuance costs of $2.1 million related to the Senior Secured Notes, $1.5 million and $0.6 million of which were recognized as financial commitment assets underlying the first and second tranche notes, respectively. The Company elected the fair value option of accounting on the Senior Secured Notes upon issuance and, accordingly, a proportionate amount of related debt issuance costs were immediately written off. The Company’s residual financial commitment asset related to the undrawn second tranche notes, is being amortized over the relevant one-year commitment period. During the three and six months ended June 30, 2022, the Company recognized $0.9 million and $1.9 million, respectively, of amortization expense from the second tranche financial commitment asset with such expense being recorded within interest expense and amortization of debt discount in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss. At June 30, 2022 and December 31, 2021, the second tranche financial commitment asset had a carrying value of $1.1 million and $3.1 million, respectively, and was recorded within current assets in the accompanying unaudited condensed consolidated balance sheets. If the second tranche notes are drawn within the one-year commitment period, the Company will expense the remaining balance under the fair value option of accounting. On a recurring basis, changes in fair value of Senior Secured Notes will be presented in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss at each reporting period (see Note 13). In the six months ended June 30, 2022, the Company obtained waivers from the Purchaser of mandatory repayments of an aggregate of $5.0 million in principal of the Senior Secured Notes as otherwise required under the Note Purchase Agreement, in exchange for a consent fee of $0.2 million, resulting in net retained proceeds of $4.8 million. In August 2022, the Company entered into an amendment to the Note Purchase Agreement (Note 16). Prior Credit Agreement Prior to October 12, 2021, the Company was party to a Credit Agreement, dated February 3, 2016 and as amended from time-to-time, under which an aggregate principal amount of $327.5 million of secured term loans were previously issued (the “Prior Term Loans”) and that provided for revolving credit commitments up to $50.0 million (the “Prior Revolving Facility,” and together with the Prior Term Loans, the “Prior Credit Agreement”). During the three and six months ended June 30, 2021, pursuant to the terms of the Prior Credit Agreement, the Company exercised its right to cure a shortfall in certain financial covenants which resulted in the mandatory prepayment of $5.3 million against the Prior Term Loans. During the three and six months ended June 30, 2021, the Company wrote off an immaterial amount of debt issuance costs relating to such prepayment, with the related expense classified within other non-operating gain or loss in the unaudited condensed consolidated statements of operations and comprehensive loss.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
Share-Based Compensation	Jun. 30, 2022
Share-Based Compensation.
Share-Based Compensation	Note 9. Share-Based Compensation The following table presents the components of share-based compensation expense (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Share options $ 442 $ 122 $ 992 $ 223 Performance stock units — 228 — 453 Restricted stock units 723 763 1,339 1,492 Employee share purchase plan 44 18 87 37 Total share-based compensation expense $ 1,209 $ 1,131 $ 2,418 $ 2,205 At June 30, 2022, aggregate unrecognized share compensation expense related to unvested awards was $5.4 million which is expected to be recognized over a weighted-average remaining service period of 1.59 years.

Earnings (Loss) Per Ordinary Sh

Earnings (Loss) Per Ordinary Share	6 Months Ended
Earnings (Loss) Per Ordinary Share	Jun. 30, 2022
Earnings (Loss) Per Ordinary Share
Earnings (Loss) Per Ordinary Share	Note 10. Earnings (Loss) Per Ordinary Share The following potentially dilutive securities have been excluded from the weighted average ordinary shares outstanding in the computation of diluted earnings (loss) per share because the impact of including them would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Performance and restricted stock units 1,057,158 2,149,329 1,057,158 2,149,329 Share options to purchase ordinary shares 5,414,496 2,666,696 5,414,496 2,666,446 Warrants to purchase ordinary shares 16,100,000 — 16,100,000 — Ordinary shares to be purchased through employee stock purchase plan 271,571 23,322 271,571 23,322

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2022
Commitments and Contingencies
Commitments and Contingencies	Note 11. Commitments and Contingencies 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 and filed a Complaint for Declaratory Judgment of Noninfringement of certain patents owned by Adamas Pharmaceuticals, Inc., who filed counterclaims against the Company. On December 2, 2020, the Company entered into an agreement to settle the litigation with Adamas, under which 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 and a gain of $5.6 million was recorded in the unaudited condensed consolidated statements of operations and comprehensive loss under gain on sale of product rights, net.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2022
Income Taxes
Income Taxes	Note 12. Income Taxes The following table presents the relationship between income tax expense or benefit from continuing operations and income or loss before income taxes from continuing operations (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Loss before income taxes, continuing operations $ (11,829) $ (21,874) $ (18,725) $ (35,650) Income tax expense, continuing operations 277 94 202 90 Effective income tax rate (2.34) % (0.43) % (1.08) % (0.25) % Income tax expense or benefit in the quarterly periods is based upon the estimated income or loss for the full year. The composition of the income or loss in different jurisdictions and adjustments, if any, in the applicable quarterly periods influences the periodic expense or benefit. The relationship between pre-tax income or loss and income tax expense or benefit is greatly affected by the impact of losses for which management cannot claim a tax benefit, non-deductible expenses, and other items that increase tax expense without a relationship to income, such as withholding taxes and changes with respect to uncertain tax positions. The change in the effective income tax rate in the three and six months ended June 30, 2022 when compared to the three and six months ended June 30, 2021, is primarily related to our recognition of individually minor tax expenses during the respective periods.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
Financial Instruments and Fair Value Measurements	Jun. 30, 2022
Financial Instruments and Fair Value Measurements
Financial Instruments and Fair Value Measurements	Note 13. Financial Instruments and Fair Value Measurements The Company’s financial instruments subject to fair value measurements include cash and cash equivalents, other receivables, trade accounts payable, accrued liabilities, long-term debt and warrant liabilities. Assets and Liabilities Measured at Fair Value on a Recurring Basis Financial Assets Financial Liabilities The Company uses a discounted cash flow technique, an income-based approach, to determine the fair value of the Senior Secured Notes. This technique relies upon an assumption of pricing the Senior Secured Notes to their maturity (without mandatory or voluntary prepayments) and incorporates inputs such as contractual repayment terms, maturity, and discount rate. The most significant unobservable input for the Senior Secured Notes is the discount rate which is estimated by performing a yield analysis that relies upon the discount rate observed in the initial issuance of the Senior Secured Notes as well as certain benchmark debt instruments with observable pricing from which conclusions are drawn on the change in the discount rate from period to period. The Company uses the Black-Scholes Merton option-pricing model to value the warrants. This model incorporates transaction details such as the Company’s stock price, contractual terms, maturity, risk free rates, and volatility. The most significant unobservable input for the warrant liabilities is volatility. Given the limited trading volume and period of time the Company’s stock has been traded in an active market, the expected volatility is estimated by taking the average historical price volatility for industry peers, consisting of several public companies in the Company’s industry that are similar in size, stage, or financial leverage, over a period of time commensurate to the expected term of the warrants. The following tables show financial liabilities subject to fair value measurement on a recurring basis and related information on fair values, valuation techniques and unobservable inputs (dollars in thousands): At June 30, 2022 Financial Instrument Fair Value Valuation Technique Unobservable Inputs Senior Secured Notes $ (42,900) Income Approach - DCF Discount rate 21.0 % Term (in years) 4.3 Warrants $ (4,273) Black-Scholes Merton Equity volatility 62.5 % Term (in years) 2.8 At December 31, 2021 Financial Instrument Fair Value Valuation Technique Unobservable Inputs Senior Secured Notes $ (43,800) Income Approach - DCF Discount rate 17.9 % Term (in years) 4.8 Warrants $ (3,220) Black-Scholes Merton Equity volatility 65.0 % Term (in years) 3.3 The following table shows changes in the fair value of financial liabilities subject to Level 3 fair value measurements on a recurring basis (in thousands): Senior Secured Notes Warrants Balance, At December 31, 2021 $ (43,800) $ (3,220) Cash payments for interest 2,904 - Fair value adjustments through earnings (inclusive of related accrued interest expense) (304) (1,053) Fair value adjustments through accumulated other comprehensive income or loss (1,700) - Balance, At June 30, 2022 $ (42,900) $ (4,273) Changes in the fair value of debt that is accounted for at fair value, inclusive of related accrued interest expense, are presented as gains or losses in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss under change in fair value of debt and interest expense. The portion of total changes in fair value of debt attributable to changes in instrument-specific credit risk are determined through specific measurement of periodic changes in the discount rate assumption exclusive of base market changes and are presented as a component of comprehensive income or loss in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss. No financial liabilities were subject to fair value measurements on a recurring basis prior to October 2021. Assets and Liabilities for Which Fair Value is Only Disclosed The carrying amounts for other receivables, trade accounts payable, accrued liabilities and the residual amounts of long-term debt not otherwise measured at fair value on a recurring basis approximate their relative fair values due to their short-term nature with relevant inputs considered Level 2 measurements within the fair value hierarchy.

Restructuring Expenses

Restructuring Expenses	6 Months Ended
Restructuring Expenses	Jun. 30, 2022
Restructuring Expenses
Restructuring Expenses	Note 14. Restructuring Expenses In April 2022, as part of an initiative to refine the Company’s go to market strategy, the Company recognized an aggregate of $1.9 million in expenses primarily associated with employee severance benefits that were classified in selling, general and administrative expenses in the accompanying unaudited condensed consolidated statements of operations and comprehensive loss. 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 then-current corporate strategy. As a result, the Company recognized $4.5 million of restructuring expenses in the three and six months ended June 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.

Indefinite-Lived Intangible Ass

Indefinite-Lived Intangible Assets	6 Months Ended
Indefinite-Lived Intangible Assets	Jun. 30, 2022
Indefinite-Lived Intangible Assets
Indefinite-Lived Intangible Assets	Note 15. Indefinite-Lived Intangible Assets Subsequent to the divestiture of the Legacy Business in 2021, the Company retained the rights to arbaclofen ER tablets (see Note 1) which is under development for the alleviation of signs and symptoms of spasticity resulting from multiple sclerosis for which the Company has completed Phase III clinical trials and for which the Company is exploring opportunities to divest, out-license or otherwise partner with a third party to monetize its net investment (see Note 3). At June 30, 2022 and December 31, 2021, the Company held indefinite-lived intangible assets for the right to develop and sell arbaclofen ER that had a gross carrying value of $64.0 million, aggregate impairment losses of $36.8 million and a net carrying amount of $27.2 million. Based on the results of quantitative impairment assessments performed relative to arbaclofen ER, an In-Process Research and Development project-based intangible asset, we recognized an impairment charge of $7.9 million during the three and six months ended June 30, 2021, related to delays in anticipated commercialization of the product candidate, if approved. No such impairments were recognized in the three or six months ended June 30, 2022.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2022
Subsequent Events.
Subsequent Events	Note 16. Subsequent Events Debt Financing On August 4, 2022, (the “Effective Date”), the Company entered into an amendment to the Note Purchase Agreement (the “Amendment”) with, among others, certain purchasers party thereto, including Athyrium Opportunities IV Co-Invest 1 LP (“New Purchaser”) and Athyrium Opportunities IV Acquisition LP, as administrative agent, which Amendment amends the Note Purchase Agreement, dated October 1, 2021 (see Note 8). The Amendment provides, among other things, for the waiver of the second tranche minimum net product sales target condition and, upon the satisfaction of certain other funding conditions, the issuance of the second tranche notes in an aggregate principal amount equal to $20.0 million, which occurred on August 8, 2022. Furthermore, the New Purchaser committed to purchase certain third tranche notes in an aggregate principal amount of up to $25.0 million at any time after the Effective Date but prior to April 15, 2023, upon the satisfaction of certain conditions, including a minimum net product sales target for Upneeq over a specified period of time. Under the Amendment, the Company will continue to have the option to voluntarily prepay the Senior Secured Notes upon the satisfaction of certain conditions and with each such prepayment being accompanied by, as applicable, (i) a make-whole premium, (ii) an exit fee of 2% of the principal amount of the notes prepaid, (iii) certain other fees, indemnities and expenses and (iv) all accrued interest on the principal amount of the notes being so prepaid. Further, the Amendment provides for the reset of the date from which the make-whole premium is applicable with respect to the first tranche notes. Specifically, the make-whole premium start date with respect to the first tranche notes will change from October 12, 2021, to either (A) March 1, 2022, if the third tranche notes are not issued or (B) the date on which the second tranche notes were issued (i.e., August 8, 2022), if the third tranche notes are issued. The make-whole premium with respect to (x) the second tranche notes, will continue to apply from the second tranche notes issuance date (i.e., August 8, 2022) and (y) the third tranche notes, will continue to apply from the third tranche notes issuance date, if issued. Additionally, the Amendment provides for the replacement of a LIBOR-based interest rate under the existing Note Purchase Agreement with a Term SOFR-based interest rate. After September 30, 2022 with respect to the first tranche notes, and on or after August 8, 2022 with respect to the second tranche notes with a floor payable in cash Equity Financing As a condition to the effectiveness of the Amendment, on August 4, 2022, the Company entered into a series of share subscription agreements (collectively, the “Share Subscription Agreements”) with Athyrium Opportunities IV Co-Invest 2 LP (“Athyrium”), Avista Healthcare Partners, L.P. (“Avista”), Brian Markison, Chief Executive Officer, and James Schaub, Executive Vice President and Chief Operating Officer, (together, the “Equity Purchasers”) pursuant to which the Company sold and issued to the Equity Purchasers, in a private placement (the “Private Placement”), an aggregate of 15,451,612 ordinary shares of the Company, nominal value $0.01 per share (the “Ordinary Shares”), at a purchase price of $1.55 per Ordinary Share, the closing market trading price on August 4, 2022. Pursuant to the Share Subscription Agreements, the closing of the Private Placement occurred on August 8, 2022. The Company issued and allotted (i) 6,451,612 Ordinary Shares to Athyrium; (ii) 8,000,000 Ordinary Shares to Avista; (iii) 850,000 Ordinary Shares to Brian Markison; and (iv) 150,000 Ordinary Shares to James Schaub, for aggregate gross proceeds to the Company of approximately $23.9 million, before deducting offering expenses payable by the Company. The Share Subscription Agreements also provide the Equity Purchasers with certain registration rights.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation 31, 2022 or any period thereafter. The accompanying condensed consolidated balance sheet data as of December 31, 2021 was derived from the audited consolidated financial statements. Management believes that the disclosures included herein are adequate to make the information presented not misleading in any material respect when read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021. Those audited consolidated financial statements include a summary of our significant accounting policies, updates to which are included in this Note 2.
Discontinued Operations	Discontinued Operations The divestiture of the Legacy Business qualifies as a discontinued operation and therefore has been presented as such. See Note 4, Discontinued Operations, for more information.
Use of Estimates	Use of Estimates
Supplemental Cash Flow Disclosures	Supplemental Cash Flow Disclosures Six Months Ended June 30, 2022 2021 Cash paid for: Interest $ 2,931 $ 5,349 Income taxes $ 142 $ 1,913
Recently Issued Accounting Standards	Recently Issued Accounting Standards In August 2020, the FASB issued Accounting Standards Update 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity There are no other recently issued accounting standards that are expected to have a material impact to the Company’s financial position or results of operations upon adoption.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2022
Basis of Presentation and Summary of Significant Accounting Policies
Schedule of supplemental cash flow disclosures	Supplemental cash flow disclosures are as follows (in thousands): Six Months Ended June 30, 2022 2021 Cash paid for: Interest $ 2,931 $ 5,349 Income taxes $ 142 $ 1,913

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
Discontinued Operations (Tables)	Jun. 30, 2022
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	The following table presents the results of discontinued operations (in thousands): Three Months Ended Six Months Ended June 30, 2021 June 30, 2021 Total revenues $ 23,289 $ 46,234 Cost of goods sold (inclusive of depreciation and amortization) 12,235 25,045 Selling, general and administrative expenses 2,426 4,396 Research and development expenses 1,744 2,850 Income from operations 6,884 13,943 Interest expense and amortization of debt discount 2,465 4,904 Other non-operating income, net (35) (114) Income from discontinued operations before provision for income taxes 4,454 9,153 Income tax expense 213 752 Income from discontinued operations, net of tax $ 4,241 $ 8,401 The following table presents the significant non-cash items and purchase of property, plant and equipment for the discontinued operations that are included in the accompanying unaudited condensed consolidated statements of cash flows (in thousands): Three Months Ended Six Months Ended Cash flows from operating activities: June 30, 2021 June 30, 2021 Depreciation and amortization $ 3,274 $ 6,583 Share compensation 101 204 Cash flows from investing activities: Purchases of property, plant and equipment $ 912 $ 1,226

Revenues (Tables)

Revenues (Tables)	6 Months Ended
Revenues (Tables)	Jun. 30, 2022
Revenues
Schedule of disaggregation of revenue from contracts with customers	The following table presents disaggregated revenues from contracts with customers (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Net product sales - Upneeq $ 8,448 $ 1,482 $ 14,392 $ 2,255 Royalty revenue — 28 — 190 Licensing revenue — 10,000 15,500 10,000 Total revenues $ 8,448 $ 11,510 $ 29,892 $ 12,445
Schedule of adjustments to gross product sales	The following table presents the various adjustments recognized against gross product sales (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Gross product sales $ 8,538 $ 1,483 $ 14,565 $ 2,256 Less provisions for: Chargebacks (2) (1) (3) (1) Discounts and allowances (88) — (170) — Net product sales $ 8,448 $ 1,482 $ 14,392 $ 2,255

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
Accrued Liabilities (Tables)	Jun. 30, 2022
Accrued Liabilities
Schedule of accrued liabilities	The following table presents the components of accrued liabilities (in thousands): June 30, December 31, 2022 2021 Accrued expenses and other liabilities $ 5,313 $ 7,897 Accrued compensation 4,101 4,504 Accrued royalties 1,079 200 Deferred revenue 931 67 Accrued research and development 523 409 Total accrued liabilities $ 11,947 $ 13,077

Financing Arrangements (Tables)

Financing Arrangements (Tables)	6 Months Ended
Financing Arrangements (Tables)	Jun. 30, 2022
Financing Arrangements
Schedule of Composition of Company's Debt and Financing Obligations	The following table presents the components of long-term debt and financing obligations (in thousands): June 30, December 31, 2022 2021 Senior Secured Notes (measured at fair value) $ 42,900 $ 43,800 Note payable — insurance financing 607 2,409 Total debt and financing obligations 43,507 46,209 Less: current portion of debt (607) (2,409) Long-term debt $ 42,900 $ 43,800
Schedule of Maturities of Long-Term Debt	The following table presents the aggregation of principal maturities of long-term debt and financing obligations (in thousands): Year Ending December 31, Debt Obligations Remainder of 2022 $ 607 2023 — 2024 11,000 2025 11,000 2026 33,000 Total future minimum payments 55,607 Less: current portion of debt principal (607) Non-current portion of debt principal $ 55,000

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
Share-Based Compensation (Tables)	Jun. 30, 2022
Share-Based Compensation.
Schedule of share-based compensation expense	The following table presents the components of share-based compensation expense (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Share options $ 442 $ 122 $ 992 $ 223 Performance stock units — 228 — 453 Restricted stock units 723 763 1,339 1,492 Employee share purchase plan 44 18 87 37 Total share-based compensation expense $ 1,209 $ 1,131 $ 2,418 $ 2,205

Earnings (Loss) Per Ordinary _2

Earnings (Loss) Per Ordinary Share (Tables)	6 Months Ended
Earnings (Loss) Per Ordinary Share (Tables)	Jun. 30, 2022
Earnings (Loss) Per Ordinary Share
Schedule of potentially dilutive securities excluded from computation of diluted weighted average shares	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Performance and restricted stock units 1,057,158 2,149,329 1,057,158 2,149,329 Share options to purchase ordinary shares 5,414,496 2,666,696 5,414,496 2,666,446 Warrants to purchase ordinary shares 16,100,000 — 16,100,000 — Ordinary shares to be purchased through employee stock purchase plan 271,571 23,322 271,571 23,322

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
Income Taxes (Tables)	Jun. 30, 2022
Income Taxes
Schedule of Income Tax Expense	The following table presents the relationship between income tax expense or benefit from continuing operations and income or loss before income taxes from continuing operations (dollars in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Loss before income taxes, continuing operations $ (11,829) $ (21,874) $ (18,725) $ (35,650) Income tax expense, continuing operations 277 94 202 90 Effective income tax rate (2.34) % (0.43) % (1.08) % (0.25) %

Financial Instruments and Fai_2

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
Financial Instruments and Fair Value Measurements (Tables)	Jun. 30, 2022
Financial Instruments and Fair Value Measurements
Schedule of valuation techniques and unobservable inputs	The following tables show financial liabilities subject to fair value measurement on a recurring basis and related information on fair values, valuation techniques and unobservable inputs (dollars in thousands): At June 30, 2022 Financial Instrument Fair Value Valuation Technique Unobservable Inputs Senior Secured Notes $ (42,900) Income Approach - DCF Discount rate 21.0 % Term (in years) 4.3 Warrants $ (4,273) Black-Scholes Merton Equity volatility 62.5 % Term (in years) 2.8 At December 31, 2021 Financial Instrument Fair Value Valuation Technique Unobservable Inputs Senior Secured Notes $ (43,800) Income Approach - DCF Discount rate 17.9 % Term (in years) 4.8 Warrants $ (3,220) Black-Scholes Merton Equity volatility 65.0 % Term (in years) 3.3
Schedule of financial liabilities subject to Level 3 fair value measurements on a recurring basis	The following table shows changes in the fair value of financial liabilities subject to Level 3 fair value measurements on a recurring basis (in thousands): Senior Secured Notes Warrants Balance, At December 31, 2021 $ (43,800) $ (3,220) Cash payments for interest 2,904 - Fair value adjustments through earnings (inclusive of related accrued interest expense) (304) (1,053) Fair value adjustments through accumulated other comprehensive income or loss (1,700) - Balance, At June 30, 2022 $ (42,900) $ (4,273)

Organization and Nature of Op_2

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

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash paid for:
Interest	$ 2,931	$ 5,349
Income taxes	$ 142	$ 1,913

Liquidity (Details)

Liquidity (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
Liquidity (Details) - USD ($) $ in Thousands	Aug. 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Oct. 12, 2021	Oct. 01, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Cash and cash equivalents		$ 27,413	$ 99,777	$ 27,413	$ 99,777	$ 40,444			$ 114,053
Accumulated deficit		(536,457)		(536,457)		$ (517,530)
Long-term Debt, Gross		55,000		55,000
Net loss from continuing operations		(12,106)	$ (21,968)	(18,927)	(35,740)
Cash used from operating activities				11,280	$ 14,408
Total debt and financing obligations		$ 55,607		$ 55,607
Proceeds from secured debt	$ 23,900
Senior Secured Notes Under Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Face amount of debt	43,900
Senior Secured Notes Under Note Purchase Agreement, Tranche One [Member]
Debt Instrument [Line Items]
Face amount of debt							$ 55,000
Senior Secured Notes Under Note Purchase Agreement, Tranche Two [Member]
Debt Instrument [Line Items]
Face amount of debt	$ 20,000							$ 20,000
Senior Secured Notes Under Note Purchase Agreement, Tranche Three [Member]
Debt Instrument [Line Items]
Face amount of debt								$ 25,000
Prior term loans
Debt Instrument [Line Items]
Face amount of debt							$ 327,500

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
Discontinued Operations (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Aug. 27, 2021
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract]
Income from discontinued operations, net of tax	$ 4,241		$ 8,401
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	23,289		46,234
Cost of goods sold (inclusive of depreciation and amortization)	12,235		25,045
Selling, general and administrative expenses	2,426		4,396
Research and development expenses	1,744		2,850
Income from operations	6,884		13,943
Interest expense and amortization of debt discount	2,465		4,904
Other non-operating income, net	(35)		(114)
Income from discontinued operations before provision for income taxes	4,454		9,153
Income tax expense	213		752
Income from discontinued operations, net of tax	$ 4,241		$ 8,401
Alora Pharmaceuticals, Llc \| 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]
Contingent milestone payments earned		$ 5,000

Discontinued Operations - Cash

Discontinued Operations - Cash flows (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Investing Activities:
Purchase of property, plant and equipment		$ 27	$ 1,398
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	$ 3,274		6,583
Share compensation	101		204
Cash Flows from Investing Activities:
Purchase of property, plant and equipment	$ 912		$ 1,226

Revenues (Details)

Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Revenues (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenues	$ 8,448	$ 11,510	$ 29,892	$ 12,445
Contract with customer, asset and liability
Deferred revenue	900		900
Contract assets	0		0		$ 0
Upneeq
Disaggregation of Revenue [Line Items]
Total revenues	$ 8,448	1,482	14,392	2,255
Royalty Revenue
Disaggregation of Revenue [Line Items]
Total revenues		28		190
License and contract revenue
Disaggregation of Revenue [Line Items]
Total revenues		$ 10,000	$ 15,500	$ 10,000

Revenues - Adjustment to gross

Revenues - Adjustment to gross product sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Gross product sales	$ 8,538	$ 1,483	$ 14,565	$ 2,256
Revenues	8,448	11,510	29,892	12,445
Chargebacks
Disaggregation of Revenue [Line Items]
Adjustments to gross products sales	(2)	(1)	(3)	(1)
Discounts and allowances
Disaggregation of Revenue [Line Items]
Adjustments to gross products sales	(88)		(170)
Net product sales
Disaggregation of Revenue [Line Items]
Revenues	$ 8,448	$ 1,482	$ 14,392	$ 2,255

Revenues - Narrative (Details)

Revenues - Narrative (Details) - Santen Pharmaceutical Co. Ltd. $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Exercise of option to expand the territories to include Russia
Disaggregation of Revenue [Line Items]
Upfront cash payment	$ 2
Developmental and regulatory cash milestone payments	1
Maximum
Disaggregation of Revenue [Line Items]
Developmental and regulatory cash milestone payments	1
License Agreement
Disaggregation of Revenue [Line Items]
Upfront cash payment	$ 15.5
Period of option to expand territories following amendment date	5 years

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Accrued Liabilities
Accrued expenses and other liabilities	$ 5,313	$ 7,897
Accrued compensation	4,101	4,504
Accrued royalties	1,079	200
Deferred revenue	931	67
Accrued research and development	523	409
Total accrued Liabilities	$ 11,947	$ 13,077

Financing Arrangements - Compon

Financing Arrangements - Components (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Financing Arrangements
Total debt and financing obligations (at fair value)	$ 43,507	$ 46,209
Less: current portion of debt principal	(607)	(2,409)
Long-term debt	42,900	43,800
Senior secured notes
Financing Arrangements
Total debt and financing obligations (at fair value)	42,900	43,800
Note payable - insurance financing
Financing Arrangements
Total debt and financing obligations (at fair value)	$ 607	$ 2,409

Financing Arrangements - Maturi

Financing Arrangements - Maturities of long-term debt and financing obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Long-term Debt, Fiscal Year Maturity [Abstract]
Remainder of 2022	$ 607
2023	0
2024	11,000
2025	11,000
2026	33,000
Total future minimum payments	55,607
Less: current portion of debt principal	(607)	$ (2,409)
Non-current portion of debt principal	$ 55,000

Financing Arrangements (Details

Financing Arrangements (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
Financing Arrangements (Details) - USD ($) $ in Thousands	Oct. 01, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Aug. 31, 2022	Oct. 12, 2021	Jul. 01, 2021
Financing Arrangements
Minimum Restricted Cash and Cash Equivalent to be Maintained		$ 15,000		$ 15,000
Financial Commitment Asset		1,128		1,128		$ 3,063
Write off of deferred financing and loan origination fees					$ 37
Debt repayment					5,300
Upneeq
Financing Arrangements
Quarterly Increment in Revenue		1,000
Quarter ending March 31, 2022 \| Upneeq
Financing Arrangements
Minimum Quarterly Revenue Threshold Limit		4,000
Quarter ending June 30, 2024 and thereafter \| Upneeq
Financing Arrangements
Minimum Quarterly Revenue Threshold Limit		$ 12,000
Alora Pharmaceuticals, Llc \| Disposal Group, Not Discontinued Operations [Member]
Financing Arrangements
Waiver of principal				5,000
Consent fee				200
Net proceeds				$ 4,800
Senior Secured Notes Under Note Purchase Agreement [Member]
Financing Arrangements
Face amount of debt							$ 43,900
Interest rate	9%								11.30%
Effective interest rate (as percent)		10.50%		10.50%
Debt issuance costs						2,100
Senior Secured Notes Under Note Purchase Agreement [Member] \| LIBOR floor
Financing Arrangements
Margin rate, as a percent	1.50%
Senior Secured Notes Under Note Purchase Agreement [Member] \| LIBOR cap
Financing Arrangements
Margin rate, as a percent	3%
Senior Secured Notes Under Note Purchase Agreement, Tranche One [Member]
Financing Arrangements
Face amount of debt								$ 55,000
Debt issuance costs						1,500
Senior Secured Notes Under Note Purchase Agreement, Tranche Two [Member]
Financing Arrangements
Face amount of debt	$ 20,000						$ 20,000
Debt issuance costs						600
Financial Commitment Asset, Amortization Period				1 year
Financial Commitment Asset, Amortization Expense		$ 900		$ 1,900
Financial Commitment Asset		$ 1,100		$ 1,100		$ 3,100
Senior Secured Notes Under Note Purchase Agreement, Tranche Three [Member]
Financing Arrangements
Face amount of debt	$ 25,000
Prior term loans
Financing Arrangements
Face amount of debt								327,500
Amount outstanding								$ 50,000
Debt repayment			$ 5,300		$ 5,300

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Share-Based Compensation (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity, Class of Treasury Stock [Line Items]
Share-based compensation expense	$ 1,209	$ 1,131	$ 2,418	$ 2,205
Unrecognized compensation expense	5,400		$ 5,400
Unrecognized compensation cost, recognition period			1 year 7 months 2 days
Share options to purchase ordinary shares
Equity, Class of Treasury Stock [Line Items]
Share-based compensation expense	442	122	$ 992	223
Performance stock units
Equity, Class of Treasury Stock [Line Items]
Share-based compensation expense		228		453
Restricted stock units
Equity, Class of Treasury Stock [Line Items]
Share-based compensation expense	723	763	1,339	1,492
Employee share purchase plan
Equity, Class of Treasury Stock [Line Items]
Share-based compensation expense	$ 44	$ 18	$ 87	$ 37

Earnings (Loss) Per Ordinary _3

Earnings (Loss) Per Ordinary Share (Details) - shares	3 Months Ended		6 Months Ended
Earnings (Loss) Per Ordinary Share (Details) - shares	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Performance and restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	1,057,158	2,149,329	1,057,158	2,149,329
Share options to purchase ordinary shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	5,414,496	2,666,696	5,414,496	2,666,446
Warrants to purchase ordinary shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	16,100,000		16,100,000
Ordinary shares to be purchased through employee stock purchase plan
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities	271,571	23,322	271,571	23,322

Commitments and Contingencies -

Commitments and Contingencies - Legal (Details) - USD ($) $ in Thousands		1 Months Ended	6 Months Ended
	Dec. 02, 2020	Jan. 31, 2021	Jun. 30, 2021
Commitments and Contingencies
Proceeds from product rights disposal	$ 7,500		$ 7,300
Gain on sales of product rights, net		$ 5,600	$ 5,636

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Taxes
Effective income tax rate	(2.34%)	(0.43%)	(1.08%)	(0.25%)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
Loss before income taxes, continuing operations	$ (11,829)	$ (21,874)	$ (18,725)	$ (35,650)
Current income tax expense (benefit) - continuing operations
Income tax expense, continuing operations	$ 277	$ 94	$ 202	$ 90

Financial Instruments and Fai_3

Financial Instruments and Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Financial Instruments and Fair Value Measurements
Fair value of cash and cash equivalents	$ 27.4	$ 40.4

Financial Instruments and Fai_4

Financial Instruments and Fair Value Measurements - Schedule of valuation techniques and unobservable inputs (Details)	Jun. 30, 2022 $ / shares	Dec. 31, 2021 $ / shares
Income Approach - DCF
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	(42,900)	(43,800)
Income Approach - DCF \| Term (in years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	4.3	4.8
Income Approach - DCF \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	21	17.9
Black-Scholes Merton
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value	(4,273)	(3,220)
Black-Scholes Merton \| Term (in years)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	2.8	3.3
Black-Scholes Merton \| Equity volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Unobservable Inputs	62.5	65

Financial Instruments and Fai_5

Financial Instruments and Fair Value Measurements -Schedule of financial liabilities subject to Level 3 fair value measurements on a recurring basis (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Senior secured notes
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, At December 31, 2021	$ (43,800)
Cash payments for interest	2,904
Fair value adjustments through earnings (inclusive of related accrued interest expense)	(304)
Fair value adjustments through accumulated other comprehensive income or loss	(1,700)
Balance, At June 30, 2022	(42,900)
Warrants
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance, At December 31, 2021	(3,220)
Fair value adjustments through earnings (inclusive of related accrued interest expense)	(1,053)
Balance, At June 30, 2022	$ (4,273)

Restructuring Expenses (Details

Restructuring Expenses (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
Restructuring Expenses (Details) - USD ($) $ in Millions	Apr. 30, 2022	Jun. 30, 2021	Jun. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		$ 4.5	$ 4.5
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		2	2
Severance benefits	$ 1.9
Research and development
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		1.2	1.2
Non-operating expenses
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		1.3	1.3
Special Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		3.2	3.2
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		$ 1.3	$ 1.3

Indefinite-Lived Intangible A_2

Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Indefinite-lived Intangible Assets [Line Items]
Impairment of intangible assets				$ 7,880
In-Process Research and Development project
Indefinite-lived Intangible Assets [Line Items]
Carrying value	$ 64,000		$ 64,000		$ 64,000
Aggregate impairment losses	36,800		36,800		36,800
Net carrying amounts	27,200		27,200		$ 27,200
Impairment of intangible assets	$ 0	$ 7,900	$ 0	$ 7,900

Subsequent Events - Narratives

Subsequent Events - Narratives (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 08, 2022	Aug. 04, 2022	Oct. 01, 2021	Aug. 31, 2022	Oct. 12, 2021	Jul. 01, 2021
Senior Secured Notes Under Note Purchase Agreement [Member]
Subsequent Event [Line Items]
Face amount of debt				$ 43.9
Interest rate			9%			11.30%
Senior Secured Notes Under Note Purchase Agreement [Member] \| LIBOR floor
Subsequent Event [Line Items]
Margin rate, as a percent			1.50%
Senior Secured Notes Under Note Purchase Agreement [Member] \| LIBOR cap
Subsequent Event [Line Items]
Margin rate, as a percent			3%
Senior Secured Notes Under Note Purchase Agreement, Tranche One [Member]
Subsequent Event [Line Items]
Face amount of debt					$ 55
Senior Secured Notes Under Note Purchase Agreement, Tranche Two [Member]
Subsequent Event [Line Items]
Face amount of debt			$ 20	$ 20
Senior Secured Notes Under Note Purchase Agreement, Tranche Three [Member]
Subsequent Event [Line Items]
Face amount of debt			$ 25
Prior term loans
Subsequent Event [Line Items]
Face amount of debt					$ 327.5
Subsequent Events
Subsequent Event [Line Items]
Number of ordinary shares issued		15,451,612
Share Price		$ 0.01
Share Issued And Allotted, Price Per Share		1.55
Subsequent Events \| Avista Health Care (Member)
Subsequent Event [Line Items]
Number of ordinary shares issued	8,000,000
Subsequent Events \| Athyrium (Member)
Subsequent Event [Line Items]
Number of ordinary shares issued	6,451,612
Subsequent Events \| Brian Markison (Member)
Subsequent Event [Line Items]
Number of ordinary shares issued	850,000
Subsequent Events \| James Schaub (Member)
Subsequent Event [Line Items]
Number of ordinary shares issued	150,000
Subsequent Events \| Senior Secured Notes Under Note Purchase Agreement [Member]
Subsequent Event [Line Items]
Exit fee (as a percent)		2%
Subsequent Events \| Senior Secured Notes Under Note Purchase Agreement [Member] \| LIBOR floor
Subsequent Event [Line Items]
Margin rate, as a percent		1.50%
Subsequent Events \| Senior Secured Notes Under Note Purchase Agreement, Tranche One [Member]
Subsequent Event [Line Items]
Interest rate		9%
Subsequent Events \| Senior Secured Notes Under Note Purchase Agreement, Tranche One [Member] \| LIBOR cap
Subsequent Event [Line Items]
Margin rate, as a percent		3%
Subsequent Events \| Senior Secured Notes Under Note Purchase Agreement, Tranche Two [Member]
Subsequent Event [Line Items]
Face amount of debt	$ 20
Interest rate		9%
Subsequent Events \| Senior Secured Notes Under Note Purchase Agreement, Tranche Two [Member] \| LIBOR floor
Subsequent Event [Line Items]
Margin rate, as a percent		1.50%
Subsequent Events \| Senior Secured Notes Under Note Purchase Agreement, Tranche Two [Member] \| LIBOR cap
Subsequent Event [Line Items]
Margin rate, as a percent		3%
Subsequent Events \| Senior Secured Notes Under Note Purchase Agreement, Tranche Three [Member]
Subsequent Event [Line Items]
Face amount of debt		$ 25