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Fair value measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy of Assets and Liabilities

The table below presents information about the Company’s assets and liabilities that are regularly measured and carried at fair value and indicates the level within the fair value hierarchy of the valuation techniques the Company utilized to determine fair value:

			September 30, 2024															December 31, 2023
			Total			Level 1			Level 2			Level 3						Total			Level 1			Level 2			Level 3
Assets:
Money market accounts			$	75.4		$	75.4		$	—		$	—					$	40.5		$	40.5		$	—		$	—
Total			$	75.4		$	75.4		$	—		$	—					$	40.5		$	40.5		$	—		$	—
Liabilities:
Contingent consideration			$	—		$	—		$	—		$	—					$	5.6		$	—		$	—		$	5.6
Warrant liability			13.9			—			—			13.9						—			—			—			—
Total			$	13.9		$	—		$	—		$	13.9					$	5.6		$	—		$	—		$	5.6

Schedule of Contingent Consideration Roll Forward

The table below is a reconciliation of the beginning and ending balance of the Company’s Level 3 warrant liability:

						Warrant Liability
Balance at June 30, 2024						$	—
Issuance of Warrants						13.4
Change in fair value						0.5
Balance at September 30, 2024						$	13.9

The table below is a reconciliation of the beginning and ending balance of the Company’s Level 3 contingent consideration liability:

						Contingent Consideration
Balance at December 31, 2023						$	5.6
Change in fair value						0.5
Settlements						(0.6)
Balance at March 31, 2024						$	5.5
Change in fair value						0.1
Settlements						(1.3)
Balance at June 30, 2024						$	4.3
Change in fair value						—
Settlements						(0.4)
Sales(1)						(3.9)
Balance at September 30, 2024						$	—
(1) On July 31, 2024, the Company sold the worldwide rights to RSDL® to SERB. In connection with the RSDL® Transaction, the Company conveyed the contingent consideration liability related to RSDL® to SERB. See Note 3, “Divestitures” for more information regarding the RSDL® Transaction.

						Contingent Consideration
Balance at December 31, 2022						$	8.0
Change in fair value						0.3
Settlements						(0.7)
Balance at March 31, 2023						$	7.6
Change in fair value						0.4
Settlements						(0.6)
Balance at June 30, 2023						$	7.4
Change in fair value						(1.1)
Settlements						(0.9)
Balance at September 30, 2023						$	5.4

Schedule of Fair Value Level 3 of Significant Unobservable Inputs

The recurring Level 3 fair value measurement for the Company's warrant liability used the following significant unobservable inputs:

Warrant Liability			Valuation Technique			Unobservable Input			Range
2024 Warrants			Black-Scholes Method			Term (in years)			4.9
						Risk free interest rate			3.5%
						Volatility			95%

X

- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

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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://www.xbrl.org/2003/role/exampleRef
-Topic 820
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-Name Accounting Standards Codification
-Section 55
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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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