XML 63 R51.htm IDEA: XBRL DOCUMENT v3.21.2
Debt - Additional Information (Details)
1 Months Ended 3 Months Ended 7 Months Ended 9 Months Ended
Jan. 28, 2021
USD ($)
TradingDay
shares
$ / shares
Jan. 25, 2021
USD ($)
$ / shares
shares
Mar. 09, 2020
USD ($)
TradingDay
shares
$ / shares
Mar. 04, 2020
USD ($)
$ / shares
shares
Nov. 30, 2019
USD ($)
Apr. 30, 2021
USD ($)
Apr. 30, 2020
USD ($)
Sep. 30, 2021
USD ($)
Mar. 31, 2021
USD ($)
Sep. 30, 2020
USD ($)
Sep. 30, 2020
USD ($)
Sep. 30, 2021
USD ($)
Sep. 30, 2020
USD ($)
Jan. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
May 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Jun. 30, 2018
USD ($)
Debt Instrument [Line Items]                                    
Purchase of capped calls                       $ 61,295,000 $ 49,280,000          
Repurchase of common stock                       198,458,000 75,000,000          
Interest expense               $ 8,514,000     $ 18,429,000 $ 24,124,000            
Hercules Capital, Inc                                    
Debt Instrument [Line Items]                                    
Debt instrument, frequency of interest payment           payable monthly                        
Stated interest rate           7.65%   7.65%       7.65%            
Gains or losses on debt modification             $ 0                      
Debt instrument interest only extension date           Jun. 01, 2024                        
Debt instrument interest only extension date, one           Jun. 01, 2025                        
Debt instrument maturity date extension           May 01, 2025                        
Debt instrument amended maturity extended date           May 01, 2026                        
Debt instrument, additional available in loan facilities           $ 185,000.0   $ 185,000.0       $ 185,000.0            
Debt instrument, additional increase available in loan facilities no later than June 15, 2022           70,000.0                        
Debt Instrument additional increase available in loan facilities upon achievement of certain performance milestones           40,000.0                        
Debt instrument, additional increase available in loan facilities no later than December 15, 2023           $ 75,000.0                        
Interest expense               2,500,000   $ 2,000,000.0   6,800,000 5,400,000          
Amortization of debt discount and issuance costs               500,000   300,000   1,400,000 $ 1,000,000.0          
Hercules Capital, Inc | Prime Rate                                    
Debt Instrument [Line Items]                                    
Interest rate           4.40%                        
2029 Notes                                    
Debt Instrument [Line Items]                                    
Debt Instrument face amount $ 717,500,000             747,500,000       $ 747,500,000            
Proceeds from exercise of option to purchase additional notes 67,500,000                                  
Debt instrument option to purchase additional notes 97,500,000                                  
Proceeds from exercise of remaining portion of option to purchase additional notes $ 30,000,000.0                                  
Debt instrument issuance date Jan. 28, 2021                                  
Maturity year 2029                                  
Debt instrument, frequency of interest payment semiannually                                  
Interest payable beginning date Aug. 01, 2021                                  
Stated interest rate 2.25%                                  
Maturity date Feb. 01, 2029                                  
Description of payment terms of notes                       The 2029 Notes will accrue interest payable semiannually in arrears on February 1 and August 1 of each year, beginning on August 1, 2021, at a rate of 2.25% per year. The 2029 Notes will mature on February 1, 2029, unless earlier converted, redeemed or repurchased.            
Proceeds from issuance of notes after deducting discount and offering expenses $ 731,400,000                                  
Direct offering expense 0                                  
Purchase of capped calls 61,300,000                                  
Repurchase of common stock 50,000,000.0                                  
Denomination of the principal amount of debt in consideration conversion of the notes $ 1,000                                  
Debt instrument, convertible, threshold trading days | TradingDay 20                                  
Debt instrument, convertible, threshold consecutive trading days | TradingDay 30                                  
Debt instrument, convertible, threshold percentage of stock price trigger 130.00%                                  
Number of consecutive trading day period (Measurement period) for conversion of notes 5 days                                  
Number of business days in consideration of conversion of notes 5 days                                  
Threshold percentage of stock price trigger in measurement period 98.00%                                  
Conversion rate 10.3050                                  
Initial conversion price per share | $ / shares $ 97.04                                  
Debt instrument, conversion, equivalent shares of common stock | shares 7,702,988                                  
Percentage of principal amount to be repurchased in fundamental change 100.00%                                  
Minimum threshold percentage of aggregate principal by trustee or holders 25.00%                                  
Debt issuance costs including initial purchasers discounts, legal and other professional fees $ 16,100,000                                  
Expected life of notes 8 years                                  
Interest expense               4,662,000       $ 12,575,000            
2029 Notes | Maximum                                    
Debt Instrument [Line Items]                                    
Debt instrument, increase in conversion rate, number of shares issuable | shares 11,361,851                                  
2027 Notes                                    
Debt Instrument [Line Items]                                    
Debt Instrument face amount     $ 550,000,000.0         550,000,000.0       $ 550,000,000.0            
Proceeds from exercise of option to purchase additional notes     $ 75,000,000.0                              
Debt instrument issuance date     Mar. 09, 2020                              
Maturity year     2027                              
Debt instrument, frequency of interest payment     semiannually                              
Interest payable beginning date     Sep. 15, 2020                              
Stated interest rate     2.50%                              
Maturity date     Mar. 15, 2027                              
Description of payment terms of notes                       The 2027 Notes will accrue interest payable semiannually in arrears on March 15 and September 15 of each year, beginning on September 15, 2020, at a rate of 2.50% per year. The 2027 Notes will mature on March 15, 2027, unless earlier converted or repurchased            
Proceeds from issuance of notes after deducting discount and offering expenses     $ 537,000,000.0                              
Purchase of capped calls     49,300,000                              
Repurchase of common stock     75,000,000.0                              
Denomination of the principal amount of debt in consideration conversion of the notes     $ 1,000                              
Debt instrument, convertible, threshold trading days | TradingDay     20                              
Debt instrument, convertible, threshold consecutive trading days | TradingDay     30                              
Debt instrument, convertible, threshold percentage of stock price trigger     130.00%                              
Number of consecutive trading day period (Measurement period) for conversion of notes     5 days                              
Number of business days in consideration of conversion of notes     5 days                              
Threshold percentage of stock price trigger in measurement period     98.00%                              
Conversion rate     23.4151                              
Initial conversion price per share | $ / shares     $ 42.71                              
Debt instrument, conversion, equivalent shares of common stock | shares     12,878,305                              
Percentage of principal amount to be repurchased in fundamental change     100.00%                              
Minimum threshold percentage of aggregate principal by trustee or holders     25.00%                              
Debt issuance costs including initial purchasers discounts, legal and other professional fees     $ 13,000,000.0         519,000       $ 519,000     $ 8,160,000      
Expected life of notes     7 years                              
Debt instrument, convertible, if-converted value of notes in excess of principal amount                       53,600,000            
Debt issuance costs allocated to equity component     $ 4,100,000                              
Debt issuance costs allocated to liability component     $ 8,900,000                              
Interest expense               $ 3,852,000   $ 8,212,000   $ 11,549,000            
2027 Notes | Maximum                                    
Debt Instrument [Line Items]                                    
Debt instrument, increase in conversion rate, number of shares issuable | shares     17,707,635                              
2021 Capped Call Transactions                                    
Debt Instrument [Line Items]                                    
Purchase of capped calls   $ 61,300,000                                
Initial conversion price per share | $ / shares   $ 97.04                                
Capped call transaction, cap price per share | $ / shares   $ 131.58                                
Premium over last reported sale price percentage   100.00%                                
Number of shares covered by capped calls | shares   7,702,988                                
Adjustments to additional paid in capital related to premium payments                 $ 61,300,000                  
2021 Capped Call Transactions | Share Repurchase Transactions                                    
Debt Instrument [Line Items]                                    
Repurchase of common stock   $ 50,000,000.0                                
Stock repurchased during period, shares | shares   759,993                                
Repurchase of common stock price per share | $ / shares   $ 65.79                                
2020 Capped Call Transactions                                    
Debt Instrument [Line Items]                                    
Purchase of capped calls       $ 49,300,000                            
Initial conversion price per share | $ / shares       $ 42.71                            
Capped call transaction, cap price per share | $ / shares       $ 62.12                            
Premium over last reported sale price percentage       100.00%                            
Number of shares covered by capped calls | shares       12,878,305                            
Adjustments to additional paid in capital related to premium payments       $ (49,300,000)                            
2020 Capped Call Transactions | Share Repurchase Transactions                                    
Debt Instrument [Line Items]                                    
Repurchase of common stock       $ 75,000,000.0                            
Stock repurchased during period, shares | shares       2,414,681                            
Repurchase of common stock price per share | $ / shares       $ 31.06                            
Tranche I | Hercules Capital, Inc                                    
Debt Instrument [Line Items]                                    
Debt Instrument face amount                                   $ 35,000,000.0
Tranche II | Hercules Capital, Inc                                    
Debt Instrument [Line Items]                                    
Debt Instrument face amount                                 $ 20,000,000.0  
Tranche III | Hercules Capital, Inc                                    
Debt Instrument [Line Items]                                    
Debt Instrument face amount                               $ 20,000,000.0    
Tranche IV                                    
Debt Instrument [Line Items]                                    
Debt Instrument face amount                           $ 25,000,000.0        
Tranche IV | Hercules Capital, Inc                                    
Debt Instrument [Line Items]                                    
Debt instrument additional principal borrowing amount           $ 25,000,000.0                        
Tranche A Loan | Silicon Valley Bank and Hercules Loan Agreement                                    
Debt Instrument [Line Items]                                    
Interest rate                       8.50%            
Debt instrument drawn amount         $ 17,500,000                          
Tranche A Loan | Silicon Valley Bank and Hercules Loan Agreement | Eidos                                    
Debt Instrument [Line Items]                                    
Stated interest rate         8.50%                          
Maturity date         Oct. 02, 2023                          
Final payment charge percentage         5.95%                          
Tranche A Loan | Silicon Valley Bank and Hercules Loan Agreement | Prime Rate | Eidos                                    
Debt Instrument [Line Items]                                    
Interest rate         3.25%                          
Tranche A Loan | Maximum | Silicon Valley Bank and Hercules Loan Agreement | Eidos                                    
Debt Instrument [Line Items]                                    
Percentage of prepayment fee         2.50%                          
Tranche A Loan | Minimum | Silicon Valley Bank and Hercules Loan Agreement | Eidos                                    
Debt Instrument [Line Items]                                    
Percentage of prepayment fee         0.75%