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Financial Instruments and Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
Schedule of Available-for-Sale Securities Measured at Fair Value on a Recurring Basis | Our equity and long-term investments are measured at fair value on a recurring basis and our debt is carried at amortized cost basis. Equity investments accounted for using the measurement alternative are valued using Level 3 inputs.
|  | Estimated Fair Value Measurements as of June 30, 2022 Using: |
|  | Quoted Price in Active Markets for |  |  | Significant Other |  |  | Significant |  |  |  |
|  | Identical |  |  | Observable |  |  | Unobservable |  |  |  |
Types of Instruments |  | Assets |  |  | Inputs |  |  | Inputs |  |  |  |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 156,460 |  |  | $ | — |  |  | $ | — |  |  | $ | 156,460 |
Investments held by ISP Fund LP (1) |  |  | 304,810 |  |  |  | — |  |  |  | 2,053 |  |  |  | 306,863 |
Equity investment - Armata Common Stock |  |  | 97,549 |  |  |  | — |  |  |  | — |  |  |  | 97,549 |
Equity investment - Armata Warrants |  |  | — |  |  |  | 47,148 |  |  |  | — |  |  |  | 47,148 |
Equity investment - InCarda Series C Preferred Stock |  |  |  |  |  |  |  |  | 6,808 |  |  |  | 6,808 |
Equity investment - InCarda Preferred Stock Warrants |  |  |  |  |  |  |  |  | 342 |  |  |  | 342 |
Convertible debt investment - Gate Note |  |  | — |  |  |  | — |  |  |  | 15,200 |  |  |  | 15,200 |
Total assets measured at estimated fair value |  | $ | 558,819 |  |  | $ | 47,148 |  |  | $ | 24,403 |  |  | $ | 630,370 |
Debt |  |  |  |  |  |  |  |  |  |  |  |
2023 Notes |  | $ | — |  |  | $ | 95,606 |  |  | $ | — |  |  | $ | 95,606 |
2025 Notes |  |  | — |  |  |  | 214,443 |  |  |  | — |  |  |  | 214,443 |
2028 Notes |  |  | — |  |  |  | 225,530 |  |  |  | — |  |  |  | 225,530 |
Total fair value of debt |  | $ | — |  |  | $ | 535,579 |  |  | $ | — |  |  | $ | 535,579 |
(1) The investments held by ISP Fund LP, consisted of $201.6 million in equity investments, which included a private placement position of $2.1 million, $35.3 million in money market funds and $70.0 million in cash. Our total capital contribution of $300.0 million is subject to a 36-month lock-up period from the date of such capital contributions.
|  | Estimated Fair Value Measurements as of December 31, 2021 Using: |
|  | Quoted Price |  |  |  |  |  |  |  |  |  |
|  | in Active |  |  | Significant |  |  |  |  |  |  |
|  | Markets for |  |  | Other |  |  | Significant |  |  |  |
|  | Identical |  |  | Observable |  |  | Unobservable |  |  |  |
Types of Instruments |  | Assets |  |  | Inputs |  |  | Inputs |  |  |  |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 145,132 |  |  | $ | — |  |  | $ | — |  |  | $ | 145,132 |
Investments held by ISP Fund LP (1) |  |  | 193,677 |  |  |  | — |  |  |  | 2,068 |  |  |  | 195,745 |
Equity investment - Armata Common Stock |  |  | 88,101 |  |  |  | — |  |  |  | — |  |  |  | 88,101 |
Equity investment - Armata Warrants |  |  | — |  |  |  | 58,595 |  |  |  | — |  |  |  | 58,595 |
Equity investment - Entasis Common Stock |  |  | 62,794 |  |  |  | — |  |  |  | — |  |  |  | 62,794 |
Equity investment - Entasis Warrants |  |  | — |  |  |  | 40,914 |  |  |  | — |  |  |  | 40,914 |
Equity investment - InCarda Warrants |  |  | — |  |  |  | — |  |  |  | 411 |  |  |  | 411 |
Convertible debt investment - Gate Note |  |  | — |  |  |  | — |  |  |  | 15,100 |  |  |  | 15,100 |
Total assets measured at estimated fair value |  | $ | 489,704 |  |  | $ | 99,509 |  |  | $ | 17,579 |  |  | $ | 606,792 |
Debt |  |  |  |  |  |  |  |  |  |  |  |
2023 Notes |  | $ | — |  |  | $ | 261,769 |  |  | $ | — |  |  | $ | 261,769 |
2025 Notes |  |  | — |  |  |  | 234,498 |  |  |  | — |  |  |  | 234,498 |
Total fair value of debt |  | $ | — |  |  | $ | 496,267 |  |  | $ | — |  |  | $ | 496,267 |
(1) The investments held by ISP Fund LP, consisted of $192.2 million equity investments and $3.5 million money market funds, are subject to a 36-month lock-up period from our initial contribution date, December 11, 2020.
Armata |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] |
Schedule of Income Statement Information | The summarized financial information, including the portion we do not own, is presented for Armata on a one quarter lag regardless of the date of our investments as follows: Income Statement Information
|  | Three Months Ended March 31, |  |  | Six Months Ended March 31, |
(In thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenue |  | $ | 1,236 |  |  | $ | 1,066 |  |  | $ | 2,225 |  |  | $ | 1,570 |
Loss from operations |  | $ | (8,775 | ) |  | $ | (5,435 | ) |  | $ | (14,823 | ) |  | $ | (11,888 | )
Net loss |  | $ | (8,774 | ) |  | $ | (5,495 | ) |  | $ | (14,821 | ) |  | $ | (12,119 | )

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