XML 50 R33.htm IDEA: XBRL DOCUMENT
v3.22.4

Assets and Liabilities Measured at Fair Value (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Fair Value Disclosures [Abstract] |
Summary of Assets and Liabilities Subject to Fair Value Measurements | A summary of the fair value of the Company's recurring assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of December 31, 2022 are identified in the following tables:
(in thousands) |  | Level 2 |  | Total
Assets: |  |  |  |
Commercial paper |  | $ | 144,381 |  |  | $ | 144,381 |
Money market |  | 5,808 |  |  | 5,808 |
|  | $ | 150,189 |  |  | $ | 150,189 |
(in thousands) |  | Level 2 |  | Level 3 |  | Total
Liabilities: |  |  |  |  |  |
Contingent consideration payable |  | $ | — |  |  | $ | 21,417 |  |  | $ | 21,417 |
Deferred compensation plan liability |  | 5,458 |  |  | — |  |  | 5,458 |
|  | $ | 5,458 |  |  | $ | 21,417 |  |  | $ | 26,875 |
A summary of the fair value of the Company's recurring assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of December 31, 2021 are identified in the following tables:
(in thousands) |  | Level 2 |  | Total
Assets: |  |  |  |
Commercial paper |  | $ | 174,531 |  |  | $ | 174,531 |
Corporate debt securities |  | 32,311 |  |  | 32,311 |
Asset-backed securities |  | 30,056 |  |  | 30,056 |
Money market |  | 5,150 |  |  | 5,150 |
|  | $ | 242,048 |  |  | $ | 242,048 |
(in thousands) |  | Level 2 |  | Level 3 |  | Total
Liabilities: |  |  |  |  |  |
Contingent consideration payable |  | $ | — |  |  | $ | 20,339 |  |  | $ | 20,339 |
Deferred compensation plan liability |  | 4,800 |  |  | — |  |  | 4,800 |
|  | $ | 4,800 |  |  | $ | 20,339 |  |  | $ | 25,139 |
Schedule of Significant Unobservable Inputs Used in the Valuation of the Contingent Consideration Payable | The following significant unobservable inputs were used in the valuation of the contingent consideration payable of Callidus for the ATB200 Pompe disease program:
Contingent Consideration Liability |  | Fair Value as of December 31, 2022 |  | Valuation Technique |  | Unobservable Input |  | Range
|  | (in thousands) |  |  |  |  |  |
|  |  |  |  |  | Discount rate |  | 10.2%
Clinical and regulatory milestones |  | $ | 21,417 |  |  | Probability weighted discounted cash flow |  | Probability of achievement of milestones |  | 88%-98%
|  |  |  |  |  | Projected year of payments |  | 2023
Schedule of Changes in Contingent Consideration Payable | The following table shows the change in the balance of contingent consideration payable for the year ended December 31, 2022 and 2021, respectively:
|  | Years ended December 31,
(in thousands) |  | 2022 |  | 2021
Balance, beginning of the period |  | $ | 20,339 |  |  | $ | 25,825 |
Changes in fair value during the period, included in the Consolidated Statements of Operations |  | 1,078 |  |  | 6,514 |
Payment of contingent consideration in cash |  | — |  |  | (12,000) |
Balance, end of the period(1) |  | $ | 21,417 |  |  | $ | 20,339 |
______________________________ (1) As certain milestones are expected to be reached within the next twelve months, the December 31, 2022 balance was recorded as a current liability in the Consolidated Balance Sheets.

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI https://asc.fasb.org/extlink&oid=126976982&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionContingentConsiderationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration