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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value of Financial Instruments

The following tables set forth the fair value of the Company’s financial instruments (in millions):

		As of December 31, 2016
		Carrying Value				Level 1				Level 2				Level 3				Total
Financial liabilities:
Senior convertible notes		$	27.6			$	—			$	—			$	22.9			$	22.9
Facility Financing Obligation			71.3				—				—				74.5				74.5
Milestone Rights			8.9				—				—				18.4				18.4
Warrant liability (at recurring fair values)			7.4				—				—				7.4				7.4
Total financial liabilities		$	115.2			$	—			$	—			$	123.2			$	123.2

		As of December 31, 2015
		Carrying Value				Level 1				Level 2				Level 3				Total
Financial liabilities:
Senior convertible notes		$	27.6			$	—			$	—			$	21.3			$	21.3
Facility Financing Obligation			74.6				—				—				78.4				78.4
Milestone Rights			8.9				—				—				14.4				14.4
Sanofi Loan Facility			44.5				—				—				36.5				36.5
Total financial liabilities		$	155.6			$	—			$	—			$	150.6			$	150.6

Fair Values of Financial Liabilities which Include Level 3 Instruments

The following table provides a roll forward of the fair values of financial assets and liabilities that are carried at fair value (in millions):

		Warrants				Assets Held for Sale
Fair value, January 1, 2015		$	—			$	—
Additions			—				—
Changes in fair value			—				—
Payments			—				—
Fair value, December 31, 2015		$	—			$	—
Additions			12.8				17.3
Changes in fair value			(5.4	)			(0.6	)
Payments			—				—
Fair value, December 31, 2016		$	7.4			$	16.7

X

- Definition

Tabular disclosure of quantitative information about the inputs used in the fair value measurement of liabilities. This disclosure may include, but is not limited to, the fair value of the liability, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

+ Details

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