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Equity Investment in PACT Pharma
12 Months Ended
Dec. 31, 2021
Equity Method Investment [Abstract]  
Equity Investment in PACT Pharma

Note 5: Equity Investment in PACT Pharma

The Company owns approximately 3.6 million shares of common stock, 1.0 million shares of Series A preferred stock, and warrants to purchase additional stock of PACT Pharma, Inc. (PACT Pharma), a privately-held clinical-stage biopharmaceutical company. This interest in PACT Pharma is accounted for as an equity method investment, and as a result the Company records its share of PACT Pharma’s operating results in interest and other income, net, in its consolidated statements of operations and comprehensive income (loss). The investment balance was zero at December 31, 2021 and 2020 and the Company is not required to record losses beyond the carrying amount of the investment as it has no obligation to provide further cash financing to PACT Pharma. The investment and related warrants had an immaterial impact on the consolidated financial statements, for each of the years ended December 31, 2021, 2020 and 2019.