Equity Investment in PACT Pharma	3 Months Ended
Mar. 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 clinical-stage biopharmaceutical company focused on pioneering individualized, non-viral precision genome engineered, tumor-specific T cell therapies for the treatment of patients with solid tumors. 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 loss. The investment balance was zero at March 31, 2021 and December 31, 2020. 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 increase in PACT Pharma’s estimated fair value per share resulted in gains on dilution totaling $1.3 million during the three months ended March 31, 2020. After applying $0.8 million in losses accumulated in prior periods when the equity investment balance was zero, the Company recorded a gain of $0.5 million for the three months ended March 31, 2020. There was no similar gain on dilution in the quarter ended March 31, 2021. For the three months ended March 31, 2021, the Company accounted for its $0.8 million share of PACT Pharma’s losses as unrecognized equity method losses. The Company’s share of PACT Pharma’s losses for the three months ended March 31, 2021 and 2020 exceeded gains for the same periods. The Company recorded zero and $0.5 million for its share of PACT Pharma’s operating losses for the three months ended March 31, 2021 and 2020, respectively. The unrecognized equity method losses in excess of the Company’s investment was $2.1 million as of March 31, 2021. At March 31, 2021 and December 31, 2020, the Company determined the fair value of the warrants to be insignificant to the condensed consolidated financial statements.

Equity Investment in PACT Pharma

3 Months Ended

Mar. 31, 2021

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 clinical-stage biopharmaceutical company focused on pioneering individualized, non-viral precision genome engineered, tumor-specific T cell therapies for the treatment of patients with solid tumors. 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 loss. The investment balance was zero at March 31, 2021 and December 31, 2020. 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 increase in PACT Pharma’s estimated fair value per share resulted in gains on dilution totaling $1.3 million during the three months ended March 31, 2020. After applying $0.8 million in losses accumulated in prior periods when the equity investment balance was zero, the Company recorded a gain of $0.5 million for the three months ended March 31, 2020. There was no similar gain on dilution in the quarter ended March 31, 2021. For the three months ended March 31, 2021, the Company accounted for its $0.8 million share of PACT Pharma’s losses as unrecognized equity method losses.

The Company’s share of PACT Pharma’s losses for the three months ended March 31, 2021 and 2020 exceeded gains for the same periods. The Company recorded zero and $0.5 million for its share of PACT Pharma’s operating losses for the three months ended March 31, 2021 and 2020, respectively. The unrecognized equity method losses in excess of the Company’s investment was $2.1 million as of March 31, 2021.

At March 31, 2021 and December 31, 2020, the Company determined the fair value of the warrants to be insignificant to the condensed consolidated financial statements.