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Fair Value of Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments

The following tables set forth the fair value of the Company’s financial instruments (in millions):

 

 

As of March 31, 2018

 

 

 

Carrying Amount

 

 

Significant Unobservable Inputs         (Level 3)

 

 

Fair Value

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Senior convertible notes (2021 notes)

 

$

24.4

 

 

$

19.9

 

 

$

19.9

 

Facility financing obligation

 

 

43.7

 

 

 

50.1

 

 

 

50.1

 

Note payable to related party

 

 

72.2

 

 

 

68.8

 

 

 

68.8

 

Milestone rights

 

 

8.9

 

 

 

17.8

 

 

 

17.8

 

Total financial liabilities

 

$

149.2

 

 

$

156.6

 

 

$

156.6

 

 

 

 

As of December 31, 2017

 

 

 

Carrying Value

 

 

Significant Unobservable Inputs         (Level 3)

 

 

Fair Value

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Senior convertible notes (2021 notes)

 

$

24.4

 

 

$

19.8

 

 

$

19.8

 

Facility financing obligation

 

 

52.7

 

 

 

54.6

 

 

 

54.6

 

Milestone rights

 

 

8.9

 

 

 

19.1

 

 

 

19.1

 

Total financial liabilities

 

$

86.0

 

 

$

93.5

 

 

$

93.5