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Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2018
Fair Value Disclosures [Abstract]  
Fair Value of Financial Instruments

The following tables set forth the fair value of the Company’s financial instruments as of September 30, 2018 and December 31, 2017 (in millions):

 

 

 

 

 

 

Fair Value

 

September 30, 2018

 

Carrying Value

 

 

Significant

Unobservable

Inputs (Level 3)

 

 

Total Fair Value

 

Financial liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Senior convertible notes (2021 notes)

 

$

19.1

 

 

$

19.7

 

 

$

19.7

 

Facility financing obligation

 

 

14.2

 

 

 

11.4

 

 

 

11.4

 

Note payable to related party

 

 

72.1

 

 

 

80.7

 

 

 

80.7

 

Milestone rights

 

 

8.8

 

 

 

19.0

 

 

 

19.0

 

Total financial liabilities

 

$

114.2

 

 

$

130.8

 

 

$

130.8

 

 

 

 

 

 

 

 

Fair Value

 

December 31, 2017

 

Carrying Value

 

 

Significant

Unobservable

Inputs (Level 3)

 

 

Total 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

 

 

8.8

 

 

 

19.1

 

 

 

19.1

 

Total financial liabilities

 

$

85.9

 

 

$

93.5

 

 

$

93.5