Fair Value (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Measurements Disclosure [Line Items]

Summary of Assets Measured at Fair Value on Recurring Basis

The following are the major categories of assets measured at fair value on a recurring basis as of June 30, 2018 and December 31, 2017, using quoted prices in active markets for identical assets (Level 1); significant other observable inputs (Level 2); and significant unobservable inputs (Level 3):

	June 30, 2018
	(In thousands)
	(unaudited)
Description	QuotedPrices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets measured at fair value
Cash and cash equivalents	$	97,743	$	—	$	—	$	97,743
Restricted cash		750		—		—		750
Total Assets measured at fair value	$	98,493	$	—	$	—	$	98,493
Liabilities measured at fair value
Contingent consideration	$	—	$	—	$	13,462	$	13,462
Warrant liabilities		—		—		22,708		22,708
Total liabilities measured at fair value	$	—	$	—	$	36,170	$	36,170

	December 31, 2017
	(In thousands)
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets measured at fair value
Cash and cash equivalents	$	91,217	$	—	$	—	$	91,217
Restricted cash		6,389		—		—		6,389
Total Assets measured at fair value	$	97,606	$	—	$	—	$	97,606
Liabilities measured at fair value
Contingent consideration	$	—	$	—	$	12,418	$	12,418
Warrant liabilities		—		—		14,090		14,090
Total liabilities measured at fair value	$	—	$	—	$	26,508	$	26,508

Change in Fair Value for All Assets and Liabilities Using Unobservable Level 3 Inputs As Determined By Level 3 Inputs

The following table summarizes the change in fair value, as determined by Level 3 inputs, for all assets and liabilities using unobservable Level 3 inputs for the six months ended June 30, 2018:

	Fair Value Measurementat Reporting Date (Level 3)
	(In thousands)
	(unaudited)
	Common stock			Contingent
	warrants			consideration
Balance at December 31, 2017	$	14,090		$	12,418
Exercise of warrants		(7,060	)		—
Change in fair value		15,678			1,439
Payment for contingent consideration		—			(395	)
Balance at June 30, 2018	$	22,708		$	13,462
Current portion		—			547
Long-term portion		22,708			12,915
Balance at June 30, 2018	$	22,708		$	13,462

Level 3 [Member]

Fair Value Measurements Disclosure [Line Items]

Quantitative Information about Inputs and Valuation Methodologies Used for Fair Value Measurements Classification

The following table presents quantitative information about the inputs and valuation methodologies used for the Company’s fair value measurements classified in Level 3, with the exception of the warrant liability, which is explained above as of June 30, 2018 and December 31, 2017:

	Valuation Methodology	Significant Unobservable Input	WeightedAverage (range, if applicable)
Contingent  consideration	Probabilityweighted income approach	Milestone dates	2018 to2020
		Discount rate Probabilityofoccurrence	7.5% to 12% 100%

Series B Warrant [Member]

Fair Value Measurements Disclosure [Line Items]

Quantitative Information about Inputs and Valuation Methodologies Used for Fair Value Measurements Classification

The following table presents the inputs and valuation methodologies used for the Company’s fair value of the Series B warrants:

					April 28, 2017
Series B	June 30, 2018		December 31, 2017		(date of issuance)
Fair value	$22.7 million		$14.1 million		$6.2 million
Valuation methodology	Monte Carlo		Monte Carlo		Black-Scholes Merton
Term	3.83 years		4.33 years		5 years
Risk free rate	2.67%		2.13%		1.81%
Dividends		—		—		—
Volatility	88.50%		80.60%		73.14%
Share price	$	4.36	$	1.93	$	0.65
Probability of additional financing	50% in 2018 and 50% in 2019		25% in 2018 and 75% in 2019		Not Applicable