Subsequent Events

3 Months Ended

Mar. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

In April 2017, the Company entered into a land lease agreement to commence in October 2017 to be used for the Company's Arctic apples. The initial term is through September 2037, and future minimum lease payments under this leasing arrangement total approximately $4,100. The Company has the right to terminate the lease with six months' advance written notice under certain circumstances as defined in the lease agreement.

In April 2017, the Company provided a commitment letter for an unsecured $2,400 loan to Oragenics that will mature two years after issuance of the loan, bears interest at 12% per annum, and is conditional on Oragenics raising at least an additional $2,700 in gross proceeds from an equity financing.

In January 2017, the Company entered into a definitive agreement to acquire GenVec, Inc. ("GenVec"), a clinical-stage company and pioneer in the development of AdenoVerse™ gene delivery technology. Upon closing of the transaction, GenVec stockholders will receive 0.297 of a share of the Company's common stock in exchange for each share of GenVec common stock. This exchange ratio represents $7.00 per share of GenVec's common stock divided by the Company's five-day volume weighted average price as of January 23, 2017. GenVec stockholders may also receive contingent consideration equal to 50% of any milestone or royalty payments received under one of GenVec's collaboration agreements, provided such payments are received within three years after the closing of the transaction.  Consummation of the transaction, anticipated in the second or third quarter of 2017, is subject to customary closing conditions, including GenVec stockholder approval.