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Equity Method Investment | 12 Months Ended
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Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Equity Method Investment | 15. Equity Method Investment The Company holds a 10% equity interest in the common stock of Telomeron, Inc., which it acquired in 2016 for $10.0 million. The Company determined it has the ability to exercise influence over Telomeron and, therefore, uses the equity method of accounting to account for its equity interest. Telomeron holds certain contributed technology from its parent that does not have a recognized carrying value and, as such, the Company’s cost of the investment exceeds its proportionate share of the net assets by $10.0 million. The Company’s excess basis allocated to amortizable assets is recognized on a straight-line basis over the life of the contributed technology, which is estimated to be 20 years. Amortization expense for the years ended December 31, 2023 and 2022 amounted to $0.5 million, and was recorded within interest and other expense, net in the consolidated statements of operations. Telomeron has not recorded any other activity, including declaring any dividends; therefore, no other earnings, losses or adjustments to the carrying value of the investment have been recorded to date. The carrying value of the Telomeron investment as of December 31, 2023 and 2022 was $6.4 million and $6.9 million, respectively, as a result of the amortization of the basis difference.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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