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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2020
Fair Value Disclosures [Abstract] |
Fair Value Measurement of Debt Instruments Based on Discounted Cash Flow Model and Sensitive to Change in Yield | The fair value measurement of debt instruments is based on a discounted cash flow model and is sensitive to the change in yield (Level 3 in the fair value hierarchy):
|  |  |  |  |  | Hypothetical Change in Yield |  |  |  |  |  |  | Hypothetical Change in Notes Payable |
|  | Yield |  |  | % Change |  |  | Hypothetical Yield |  |  | FV of Notes |  |  | FV |  |  | $ Change |  |  | % Change |
|  |  |  |  |  |  |  |  |  |  |  |  |  | (in millions) |  |  |  |  |
Mann Group promissory notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(with conversion feature) |  |  | 31.5 | % |  |  | 1 | % |  |  | 32.5 | % |  | $ | 53.5 |  |  | $ | 52.5 |  |  | $ | (1.0 | ) |  |  | -1.9 | %
|  |  | 31.5 | % |  |  | -1 | % |  |  | 30.5 | % |  | $ | 53.5 |  |  | $ | 54.6 |  |  | $ | 1.1 |  |  |  | 2.1 | %
|  |  | 31.5 | % |  |  | 2 | % |  |  | 33.5 | % |  | $ | 53.5 |  |  | $ | 51.6 |  |  | $ | (1.9 | ) |  |  | -3.6 | %
|  |  | 31.5 | % |  |  | -2 | % |  |  | 29.5 | % |  | $ | 53.5 |  |  | $ | 55.6 |  |  | $ | 2.1 |  |  |  | 3.9 | %
Senior notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(with conversion feature) |  |  | 31.5 | % |  |  | 1 | % |  |  | 32.5 | % |  | $ | 6.4 |  |  | $ | 6.3 |  |  | $ | (0.1 | ) |  |  | -1.6 | %
|  |  | 31.5 | % |  |  | -1 | % |  |  | 30.5 | % |  | $ | 6.4 |  |  | $ | 6.5 |  |  | $ | 0.1 |  |  |  | 1.6 | %
|  |  | 31.5 | % |  |  | 2 | % |  |  | 33.5 | % |  | $ | 6.4 |  |  | $ | 6.3 |  |  | $ | (0.1 | ) |  |  | -1.6 | %
|  |  | 31.5 | % |  |  | -2 | % |  |  | 29.5 | % |  | $ | 6.4 |  |  | $ | 6.6 |  |  | $ | 0.2 |  |  |  | 3.1 | %
MidCap Credit Facility |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | 13.5 | % |  |  | 1 | % |  |  | 14.5 | % |  | $ | 39.0 |  |  | $ | 38.2 |  |  | $ | (0.8 | ) |  |  | -2.1 | %
|  |  | 13.5 | % |  |  | -1 | % |  |  | 12.5 | % |  | $ | 39.0 |  |  | $ | 39.9 |  |  | $ | 0.9 |  |  |  | 2.3 | %
|  |  | 13.5 | % |  |  | 2 | % |  |  | 15.5 | % |  | $ | 39.0 |  |  | $ | 37.5 |  |  | $ | (1.5 | ) |  |  | -3.8 | %
|  |  | 13.5 | % |  |  | -2 | % |  |  | 11.5 | % |  | $ | 39.0 |  |  | $ | 40.7 |  |  | $ | 1.7 |  |  |  | 4.4 | %
PPP Loan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | 13.5 | % |  |  | 1 | % |  |  | 14.5 | % |  | $ | 4.4 |  |  | $ | 4.4 |  |  | $ | - |  |  |  | 0.0 | %
|  |  | 13.5 | % |  |  | -1 | % |  |  | 12.5 | % |  | $ | 4.4 |  |  | $ | 4.4 |  |  | $ | - |  |  |  | 0.0 | %
|  |  | 13.5 | % |  |  | 2 | % |  |  | 15.5 | % |  | $ | 4.4 |  |  | $ | 4.3 |  |  | $ | (0.1 | ) |  |  | -2.3 | %
|  |  | 13.5 | % |  |  | -2 | % |  |  | 11.5 | % |  | $ | 4.4 |  |  | $ | 4.5 |  |  | $ | 0.1 |  |  |  | 2.3 | %
Fair Value of Financial Instruments | The following tables set forth the fair value of the Company’s financial instruments (in millions):
|  | June 30, 2020 |
|  | Carrying Value |  |  | Significant Unobservable Inputs (Level 3) |  |  | Fair Value |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |
MidCap Credit Facility |  | $ | 39.3 |  |  | $ | 39.0 |  |  | $ | 39.0 |
2024 convertible notes |  |  | 5.0 |  |  |  | 4.1 |  |  |  | 4.1 |
December 2020 note |  |  | 2.5 |  |  |  | 2.3 |  |  |  | 2.3 |
Mann Group promissory notes |  |  | 70.0 |  |  |  | 53.5 |  |  |  | 53.5 |
PPP Loan |  |  | 4.9 |  |  |  | 4.4 |  |  |  | 4.4 |
Milestone rights |  |  | 7.3 |  |  |  | 14.9 |  |  |  | 14.9 |
Total financial liabilities |  | $ | 129.0 |  |  | $ | 118.2 |  |  | $ | 118.2 |
|  | December 31, 2019 |
|  | Carrying Value |  |  | Significant Unobservable Inputs (Level 3) |  |  | Fair Value |
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |
MidCap Credit Facility |  | $ | 38.9 |  |  | $ | 40.0 |  |  | $ | 40.0 |
2024 convertible notes |  |  | 5.0 |  |  |  | 3.7 |  |  |  | 3.7 |
June 2020 note |  |  | 2.5 |  |  |  | 2.3 |  |  |  | 2.3 |
December 2020 note |  |  | 2.5 |  |  |  | 2.0 |  |  |  | 2.0 |
Mann Group promissory notes |  |  | 70.0 |  |  |  | 46.2 |  |  |  | 46.2 |
Milestone rights |  |  | 7.3 |  |  |  | 16.4 |  |  |  | 16.4 |
Total financial liabilities |  | $ | 126.2 |  |  | $ | 110.6 |  |  | $ | 110.6 |

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- 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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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