Equity Investment	9 Months Ended
Sep. 30, 2020
Equity Method Investment [Abstract]
Equity Investment	Note 5. Equity Investment 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 funded, early-stage biopharmaceutical company focused on adoptive cell therapy. 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 condensed consolidated statements of operations and comprehensive income (loss). The investment balance was zero at September 30, 2020 and December 31, 2019. Since the Company has no obligation to provide cash financing to PACT Pharma, the Company is not required to record losses beyond the carrying amount of the investment. In January and June 2020, PACT Pharma issued shares in its Series C and Series C-1 preferred stock financings. The Company did not participate in these financings. The decrease in the Company’s equity ownership percentage and an increase in PACT Pharma’s estimated fair value per share resulted in gains on dilution totaling an immaterial amount and $1.5 million during the three and nine months ended September 30, 2020. After applying an immaterial amount and $0.9 million in losses accumulated in prior periods when the equity investment balance was zero, the Company recorded a gain of zero and $0.6 million for the three and nine months ended September 30, 2020, respectively. The Company’s share of PACT Pharma’s losses for the for the three and nine months ended September 30, 2020 exceeded gains for the same period. The Company recorded zero and $0.6 million for its share of PACT Pharma’s operating losses for the three and nine months ended September 30, 2020, respectively. The unrecognized equity method losses in excess of the Company’s investment was $1.2 million as of September 30, 2020. At September 30, 2020 and December 31, 2019, the Company determined the fair value of the warrants to be insignificant to the condensed consolidated financial statements.

Equity Investment

9 Months Ended

Sep. 30, 2020

Note 5. Equity Investment

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 funded, early-stage biopharmaceutical company focused on adoptive cell therapy. 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 condensed consolidated statements of operations and comprehensive income (loss). The investment balance was zero at September 30, 2020 and December 31, 2019. Since the Company has no obligation to provide cash financing to PACT Pharma, the Company is not required to record losses beyond the carrying amount of the investment.

In January and June 2020, PACT Pharma issued shares in its Series C and Series C-1 preferred stock financings. The Company did not participate in these financings. The decrease in the Company’s equity ownership percentage and an increase in PACT Pharma’s estimated fair value per share resulted in gains on dilution totaling an immaterial amount and $1.5 million during the three and nine months ended September 30, 2020. After applying an immaterial amount and $0.9 million in losses accumulated in prior periods when the equity investment balance was zero, the Company recorded a gain of zero and $0.6 million for the three and nine months ended September 30, 2020, respectively.

The Company’s share of PACT Pharma’s losses for the for the three and nine months ended September 30, 2020 exceeded gains for the same period. The Company recorded zero and $0.6 million for its share of PACT Pharma’s operating losses for the three and nine months ended September 30, 2020, respectively. The unrecognized equity method losses in excess of the Company’s investment was $1.2 million as of September 30, 2020.

At September 30, 2020 and December 31, 2019, the Company determined the fair value of the warrants to be insignificant to the condensed consolidated financial statements.