Debt

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Debt Obligations

Debt  

In December 2017, the Company used a portion of the proceeds from the Company’s October 2017 common stock offering (see Note 9) and paid off its term loan with an outstanding principal balance of $20.0 million, plus accrued interest. The Company recognized a $1.5 million loss on early extinguishment of debt consisting of a noncash charge to write off the remaining unamortized debt issuance costs and debt discount. The Company also incurred $1.9 million in additional fees related to early extinguishment of the term loan, which had a scheduled maturity date of July 1, 2020.

In May 2014, the Company was provided with an interest-free working capital note payable of $7.0 million from Endo in connection with the Supply Agreement (See Note 3). The working capital advance note payable matured upon the termination of the Supply Agreement. The working capital advance note payable was initially recorded on the consolidated balance sheet net of a $4.7 million debt discount related to imputed interest. In September 2017, the Company and Endo terminated the Supply Agreement and the working capital advance note payable became due and payable in accordance with its terms. Pursuant to the termination agreement, the $7.0 million promissory note was extinguished to settle amounts owed to the Company for accounts receivable and purchased raw materials (See Note 5). In connection with the extinguishment, the Company recognized a non-cash charge upon debt extinguishment of $3.4 million to write off the remaining unamortized debt discount related to imputed interest. As of December 31, 2018 and 2017, the Company had no debt outstanding.