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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Financial liabilities measured at fair value on recurring basis
The following tables provide a summary of the financial liabilities measured at fair value on a recurring basis (in thousands): 
 
March 31, 2018
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 Balance
Liabilities:
 

 
 

 
 

 
 

Compound embedded derivative with the 2013 8.00% Notes
—

 
—

 
(5
)
 
(5
)
Compound embedded derivative with the Loan Agreement with Thermo
—

 
—

 
(119,036
)
 
(119,036
)
Total liabilities measured at fair value
$
—

 
$
—

 
$
(119,041
)
 
$
(119,041
)
 
 
December 31, 2017
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 Balance
Liabilities:
 

 
 

 
 

 
 

Compound embedded derivative with the 2013 8.00% Notes
—

 
—

 
(1,326
)
 
(1,326
)
Compound embedded derivative with the Loan Agreement with Thermo
—

 
—

 
(226,659
)
 
(226,659
)
Total liabilities measured at fair value
$
—

 
$
—

 
$
(227,985
)
 
$
(227,985
)
Schedule of significant quantitative level 3 inputs utilized
The significant quantitative Level 3 inputs utilized in the valuation models are shown in the tables below: 
 
March 31, 2018
 
Stock Price
Volatility
 
Risk-Free
Interest
Rate
 
Note
Conversion
Price
 
Discount Rate
 
Market Price of Common Stock
Compound embedded derivative with the 2013 8.00% Notes
95%
 
1.6
%
 
$
0.73

 
27
%
 
$
0.69

Compound embedded derivative with the Loan Agreement with Thermo
40% - 95%
 
2.6
%
 
$
0.73

 
27
%
 
$
0.69

 
 
December 31, 2017
 
Stock Price
Volatility
 
Risk-Free
Interest
Rate
 
Note
Conversion
Price
 
Discount Rate
 
Market Price of Common Stock
Compound embedded derivative with the 2013 8.00% Notes
78
%
 
1.4
%
 
$
0.73

 
27
%
 
$
1.31

Compound embedded derivative with the Loan Agreement with Thermo
40% - 77%

 
2.2
%
 
$
0.73

 
27
%
 
$
1.31
Rollforward of liabilities measured at fair value
The following table presents a rollforward for all liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in thousands):
 
Three Months Ended March 31,
 
2018
 
2017
Balance at beginning of period
$
(227,985
)
 
$
(281,171
)
Unrealized gain, included in derivative gain
108,944

 
3,225

Balance at end of period
$
(119,041
)
 
$
(277,946
)
Schedule of carrying values and estimated fair values of debt instruments
The following table sets forth the carrying values and estimated fair values of the Company's other debt instruments, which are classified as Level 3 financial instruments (in thousands):
 
March 31, 2018
 
December 31, 2017
 
Carrying Value
 
Estimated Fair Value
 
Carrying Value
 
Estimated Fair Value
Loan Agreement with Thermo
$
83,801

 
$
58,316

 
$
79,721

 
$
54,936

2013 8.00% Notes
1,348

 
1,347

 
1,348

 
1,295