Acquisitions and Investments (Tables)

3 Months Ended

Mar. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Preliminary Purchase Price Allocation and Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary purchase price allocation and the estimated fair value of the net assets acquired and liabilities assumed at the date of acquisition. The purchase price allocation for the ModeX transaction is preliminary pending completion of the fair value analysis of acquired assets and liabilities:

(in thousands)	ModeX
Cash and cash equivalents	$	228
Other assets	727
Property, plant and equipment	1,046
IPR&D assets	195,000
Goodwill	80,260
Accounts payable	(287)
Deferred tax liability	(55,312)
Total purchase price	$	221,662

Schedule of Accounting Method, Carrying Value and Underlying Equity in Net Assets of Unconsolidated Investments

The following table reflects the accounting method, carrying value and underlying equity in net assets of our unconsolidated investments as of March 31, 2023 and December 31, 2022:

(in thousands)	As of March 31, 2023				As of December 31, 2022
Investment type	Investment Carrying Value		Underlying Equity in Net Assets		Investment Carrying Value		Underlying Equity in Net Assets
Equity method investments	$	69	$	3,340	$	103	$	4,120
Variable interest entity, equity method	798		1,368		800		1,370
Equity method investments - FV option	34,414				21,120
Equity securities	543				648
Equity securities with no readily determinable fair value	5,381				5,381
Warrants and options	26				28
Total carrying value of investments	$	41,231			$	28,080

Schedule of Net Gains and Losses on Equity Securities

Net gains and losses on our equity securities for the three months ended March 31, 2023 and 2022 were as follows:

	For the three months ended March 31
(in thousands)	2023		2022
Equity Securities:
Net gains and losses recognized during the period on equity securities	$	(105)	$	(1,162)
Unrealized net losses recognized during the period on equity securities still held at the reporting date	$	(105)	$	(1,162)