0001564590-22-006702 | 10-K | XBRL Viewer

Debt issuance amount

$ 230.0

0.98%

^[1]

0.98%

Debt instrument , forgiveness amount received

^[1]

2022-04

$ 4.9

2024 Convertible Notes

^[2]

5.75%

Conversion of debt shares issued

^[2]

2024-11

Debt issuance amount

$ 5.0

1,666,667

Prepayment of principal balance

$ 10.0

MidCap Credit Facility | Prior To Midcap Credit Facility Amendment

^[3]

2025-08

LIBOR | MidCap Credit Facility

2024-08

^[3]

6.25%

LIBOR | MidCap Credit Facility | Prior To Midcap Credit Facility Amendment

^[3]

1.00%

2.00%

The Mann Group L L C | Non Convertible Promissory Note

6.75%

Prepayment of principal balance

$ 35.1

7.00%

The Mann Group L L C | Non Convertible Promissory Note | Prior to First Amendment

2024-11

7.00%

Schedule of Fair Value of Assets and Financing Liability on Total Investments

2024-11

[1]	In July 2021, the Company received full forgiveness from the SBA for the $4.9 million principal balance of the PPP loan and recognized a gain on extinguishment of debt for the full principal balance and a de minimis amount of accrued but unpaid interest.
[2]	In February 2021, the $5.0 million principal balance was converted into 1,666,667 shares of the Company’s common stock.
[3]	In April 2021, the Company prepaid $10.0 million principal balance and amended the MidCap credit facility. The interest rate prior to the amendment was one-month LIBOR (2% floor) plus 6.75% and the maturity date was in August 2024.

Fair Value of Financial Instruments - Fair Value of Financial Instruments (Parenthetical) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Fair Value Of Financial Instruments [Line Items]
Loss on extinguishment of debt	$ (17,200)	$ (264)
MidCap Credit Facility
Fair Value Of Financial Instruments [Line Items]
Note payable, percentage of hypothetical yield	10
Note payable, percentage of interest rate increases (decreases)	2.00%
Financial liabilities fair value	$ 40,800	55,400
MidCap Credit Facility \| Carrying Value
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value	38,800	49,300
MidCap Credit Facility \| Minimum
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value	39,100
MidCap Credit Facility \| Maximum
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value	$ 42,700
Mann Group Convertible Notes
Fair Value Of Financial Instruments [Line Items]
Note payable, percentage of hypothetical yield	12
Note payable, percentage of interest rate increases (decreases)	2.00%
Loss on extinguishment of debt	$ (22,100)
Substantial premium based on fair value post modification recognized as additional paid-in capital	$ 22,100
Mann Group Convertible Notes \| Volatility
Fair Value Of Financial Instruments [Line Items]
Note payable, percentage of volatility	85
Mann Group Convertible Notes \| Minimum
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value	$ 36,900
Mann Group Convertible Notes \| Maximum
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value	$ 38,800
Senior Convertible Notes
Fair Value Of Financial Instruments [Line Items]
Note payable, percentage of hypothetical yield	12
Note payable, percentage of interest rate increases (decreases)	2.00%
Financial liabilities fair value	$ 237,500
Senior Convertible Notes \| Carrying Value
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value	$ 223,900
Senior Convertible Notes \| Volatility
Fair Value Of Financial Instruments [Line Items]
Note payable, percentage of volatility	90
Senior Convertible Notes \| Minimum
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value	$ 226,600
Senior Convertible Notes \| Maximum
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value	249,400
Mann Group Convertible Notes
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value	37,800	52,200
Mann Group Convertible Notes \| Carrying Value
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value	$ 18,400	28,000
Mann Group Non Convertible Notes
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value		26,700
Mann Group Non Convertible Notes \| Carrying Value
Fair Value Of Financial Instruments [Line Items]
Financial liabilities fair value		$ 35,100

Commitments and Contingencies - Summary of Financing Liability Costs (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Interest expense on financing liability	$ 1,373

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

The fair value of the cash equivalents, long- and short-term investments, MidCap credit facility, Mann Group promissory notes, 2024 convertible notes, Senior convertible notes, Milestone Rights liabilities and Financing liability are disclosed below (amounts in millions).

	December 31, 2021
	Investment Level	Amortized Cost (Carrying Value)			Gross Unrealized Holding Losses		Estimated Fair Value
Commercial bonds and paper	Level 2	$	115.2		$	0.2	$	115.0
Money market funds	Level 1		21.3			—		21.3
U.S. Treasuries	Level 2		23.9			0.1		23.8
Total cash equivalents and investments		$	160.4		$	0.3	$	160.1
Less cash equivalents			(23.8	)		—		(23.8	)
Total Investments		$	136.6		$	0.3	$	136.3

December 31, 2020

Investment Level

Amortized Cost

(Carrying Value)

Gross Unrealized

Holding Losses

Estimated

Fair Value

Cash equivalents - U.S. Treasuries

Level 2

59.5

—

59.5

Fair Value of Financial Instruments

The following tables set forth the fair value of the Company’s financial instruments (Level 3 in the fair value hierarchy) (in millions):

	December 31, 2021
			Fair Value
	Carrying Amount		Significant Unobservable Inputs (Level 3)		Total Fair Value
Financial liabilities:
Senior convertible notes⁽¹⁾	$	223.9	$	237.5	$	237.5
MidCap credit facility⁽²⁾		38.8		40.8		40.8
Mann Group convertible notes⁽³⁾		18.4		37.8		37.8
Milestone rights⁽⁴⁾		5.9		18.1		18.1

(1)

Fair value determined by applying a discounted cash flow analysis to the straight note with a hypothetical yield of 12%, volatility of 90% and a Monte Carlo simulation for the value of the conversion feature. A change in yield of + or – 2% would result in a fair value of $226.6 million and $249.4 million, respectively.

(2)	Fair value determined by applying a discounted cash flow analysis with a hypothetical yield of 10%. A change in yield of + or – 2% would result in a fair value of $39.1 million and $42.7 million, respectively.

(3)

The April 2021 amendment to the Mann Group convertible note resulted in a substantial premium of $22.1 million based on the fair value post modification which was recognized as additional paid-in capital in the consolidated balance sheet as of December 31, 2021. The accounting for the $22.1 million loss on extinguishment did not result in a change in the financial position of the Company. The fair value assessed as of December 31, 2021 was determined by applying a discounted cash flow analysis with a hypothetical yield of 12% and volatility of 85% to the straight note and a binomial option pricing model for the value of the conversion feature. A change in yield of + or – 2% would result in a fair value of $36.9 million and $38.8 million, respectively.

(4)	Fair value determined by applying a Monte Carlo simulation.

	December 31, 2020
			Fair Value
	Carrying Value		Significant Unobservable Inputs (Level 3)		Total Fair Value
Financial liabilities:⁽¹⁾
MidCap credit facility	$	49.3	$	55.4	$	55.4
Mann Group promissory notes⁽²⁾		63.0		78.9		78.9
2024 convertible notes		5.0		7.0		7.0
PPP loan		4.9		4.7		4.7
Milestone Rights		7.3		19.8		19.8

(1)	Fair value measurements were based on a discounted cash flow model, except for the Milestone rights for which a Monte Carlo simulation was applied.

(2)	Mann Group promissory notes consisted of the following carrying values and fair values:

Mann Group convertible notes carrying value of $28.0 million and fair value of $52.2 million.

Mann Group non-convertible notes carrying value of $35.1 million and fair value of $26.7 million.

Schedule of Accounts Receivable, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts Receivable [Line Items]
Allowance for credit losses	$ (800)
Accounts receivable – other	255
Total accounts receivable, net	4,994	$ 4,218
Commercial product sales
Accounts Receivable [Line Items]
Accounts receivable, gross	7,939	8,090
Wholesaler distribution fees and prompt pay discounts	(1,696)	(1,205)
Reserve for returns	(2,797)	(2,667)
Total accounts receivable, net	3,446	4,218
Collaborations and services
Accounts Receivable [Line Items]
Accounts receivable, gross	2,060
Allowance for credit losses	(767)
Total accounts receivable, net	$ 1,293	$ 4,218

Fair Value of Financial Instruments - Schedule of Fair Value of Assets and Financing Liability on Total Investments (Detail) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Amortized Cost (Carrying Value)
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	$ 160,400
Less cash equivalents	(23,800)
Total Investments	136,600
Amortized Cost (Carrying Value) \| Commercial Bonds and Paper \| Fair Value, Inputs, Level 2
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	115,200
Amortized Cost (Carrying Value) \| Money Market Funds \| Fair Value, Inputs, Level 1
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	21,300
Amortized Cost (Carrying Value) \| U.S. Treasuries \| Fair Value, Inputs, Level 2
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	23,900
Amortized Cost (Carrying Value) \| U.S. Treasuries \| Fair Value, Inputs, Level 2 \| Cash Equivalents
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments		$ 59,500
Gross Unrealized Holding Losses
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	300
Total Investments	300
Gross Unrealized Holding Losses \| Commercial Bonds and Paper \| Fair Value, Inputs, Level 2
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	200
Gross Unrealized Holding Losses \| U.S. Treasuries \| Fair Value, Inputs, Level 2
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	100
Estimated Fair Value
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	160,100
Less cash equivalents	(23,800)
Total Investments	136,300
Estimated Fair Value \| Commercial Bonds and Paper \| Fair Value, Inputs, Level 2
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	115,000.0
Estimated Fair Value \| Money Market Funds \| Fair Value, Inputs, Level 1
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	21,300
Estimated Fair Value \| U.S. Treasuries \| Fair Value, Inputs, Level 2
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments	$ 23,800
Estimated Fair Value \| U.S. Treasuries \| Fair Value, Inputs, Level 2 \| Cash Equivalents
Fair Value Of Financial Instruments [Line Items]
Total cash equivalents and investments		$ 59,500

Stock Award Plans - Fair Value of Employee Stock Options Assumptions (Detail)	12 Months Ended
	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk free interest rate, minimum	0.39%
Risk free interest rate, maximum	1.52%
Volatility, minimum	93.83%
Volatility, maximum	94.25%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected lives	5 years 8 months 1 day
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected lives	7 years

Effective Tax Rate (Detail)	12 Months Ended
Effective Tax Rate (Detail)	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal tax benefit rate	21.00%	21.00%
Permanent items	(4.40%)	(6.10%)
Stock based compensation	0.30%	(0.50%)
Tax attribute expirations	(5.90%)	(6.60%)
Foreign withholding tax	0.00%	0.40%
Valuation allowance	(11.20%)	(7.80%)
Other	0.20%	0.00%
Effective income tax rate	0.00%	0.40%

Inventories (Tables)

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Components of Inventory

Inventories consist of the following (in thousands):

	December 31,
	2021		2020
Raw materials	$	2,703	$	1,393
Work-in-process		2,522		2,484
Finished goods		1,927		1,096
Total inventory	$	7,152	$	4,973

Summary of Significant Accounting Policies - Schedule of Contractual Maturities of Held to Maturity Investments (Detail) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Held To Maturity Securities Debt Maturities [Abstract]

Amortized cost basis, due in one year or less

^[1]

$ 103,733

$ 59,495

Amortized cost basis due after one year through five years

56,619

Amortized cost basis, total

160,352

59,495

Aggregate fair value, due in one year or less

^[1]

103,669

59,495

Aggregate fair value, due after one year through five years

56,433

Aggregate fair value, total

$ 160,102

$ 59,495

[1]	The investments due in one year or less include cash equivalents of $23.8 million as of December 31, 2021 and $59.5 million as of December 31, 2020.

Summary of Significant Accounting Policies - Additional Information (Detail)			3 Months Ended	12 Months Ended
	Jan. 01, 2022 USD ($)	Apr. 10, 2020 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2021 USD ($) Distributor Contract	Dec. 31, 2020 USD ($)	Aug. 31, 2019 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Proceeds from loans					$ 4,873,000
Accretion or amortization				$ 500,000	$ 0
Allowance for credit losses on held-to-maturity securities				$ 0
Number of wholesale distributors \| Distributor				3
Percentage of gross sales from major wholesale distributors				80.00%	86.00%
Allowance for accounts receivable				$ 800,000
Percentage of sales from major customers collaborations and services				95.00%
Asset impairment				$ 100,000
ASU 2020-06
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle accounting standards update adopted				true
Change in accounting principle accounting standards update adoption date				Jan. 01, 2021
Change in accounting principle accounting standards update immaterial effect				true
Commitment Asset \| Other Expense
Summary Of Significant Accounting Policies [Line Items]
Asset impairment			$ 1,900,000
MidCap Credit Facility
Summary Of Significant Accounting Policies [Line Items]
Commitment asset						$ 1,500,000
Other asset						$ 400,000
Milestone Rights Liability
Summary Of Significant Accounting Policies [Line Items]
Contingent liability remain payable				$ 65,000,000.0
Vertice Pharma LLC
Summary Of Significant Accounting Policies [Line Items]
Allowance for accounts receivable				$ 800,000
United Therapeutics Corporation
Summary Of Significant Accounting Policies [Line Items]
Percentage of collaborations and services accounts receivables				100.00%
Paycheck Protection Program Loan, CARES Act
Summary Of Significant Accounting Policies [Line Items]
Proceeds from loans		$ 4,900,000
Convertible Promissory Note \| Thirona Bio, Inc.
Summary Of Significant Accounting Policies [Line Items]
Investment securities				$ 3,000,000.0
Proceeds from investment securities				$ 3,000,000.0
Maturity date				Dec. 31, 2023
Interest rate				6.00%
Convertible Promissory Note \| Subsequent Event \| Thirona Bio, Inc.
Summary Of Significant Accounting Policies [Line Items]
Investment securities	$ 5,000,000.0
Proceeds from investment securities	$ 5,000,000.0
AFREZZA product sales
Summary Of Significant Accounting Policies [Line Items]
Percentage of accounts receivable from major wholesale distributors				79.00%	90.00%
Insulin
Summary Of Significant Accounting Policies [Line Items]
Loss on purchase commitments				$ 82,800,000	$ 95,300,000
Loss on purchase commitments, number of new contracts recognized \| Contract				0
Minimum \| AFREZZA product sales
Summary Of Significant Accounting Policies [Line Items]
Sales return right following product expiration in months				6 months
Maximum \| AFREZZA product sales
Summary Of Significant Accounting Policies [Line Items]
Sales return right following product expiration in months				12 months

Commitments and Contingencies - Additional Information (Detail)		1 Months Ended		12 Months Ended
	Nov. 08, 2021 USD ($)	Nov. 30, 2017 USD ($)	May 31, 2017 USD ($)	Dec. 31, 2021 USD ($) Vehicle	Dec. 31, 2020 USD ($)	Nov. 30, 2021 USD ($)	Jul. 01, 2013 USD ($)
Commitments And Contingencies [Line Items]
Operating lease costs				$ 863,000	$ 1,403,000
Financing liability				100,500,000
Financing liability, long term				93,525,000		$ 93,500,000
Financing liability, short term				6,977,000		$ 7,000,000.0
Payment of long term purchase commitment, amendment fees				$ 2,000,000.0
Supply Agreement expiration period				Dec. 31, 2027
Supply Agreement renewal period				2 years
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]				Other asset
Office Lease
Commitments And Contingencies [Line Items]
Lease renewal option		5 years	5 years
Operating lease rent expenses		$ 35,969	$ 40,951
Percentage of annual increase in lease payment		3.00%	3.00%
Lease expiration		2023-01	2023-01
Reimbursement amount received for tenant improvements		$ 56,325
Master Lease Agreement with Enterprise \| Vehicle Leases
Commitments And Contingencies [Line Items]
Number of vehicle leases retired \| Vehicle				85
Number of vehicle leases replaced \| Vehicle				85
Number of vehicle leases \| Vehicle				89
Operating lease rent expenses				$ 100,000
Gain or loss recorded for leases removed				500,000
Operating lease, right-of-use asset				1,400,000
Operating lease, liability				1,400,000
Casper L L C
Commitments And Contingencies [Line Items]
Sale price	$ 102,300,000
Lease initial term	20 years
Lease renewal option	4 years
Lease renewal options	renewal options of five years
Lessee,option to extend [true false]	true
Operating lease costs	$ 9,500,000
Lease, description	The total annual rent under the Lease starts at approximately $9.5 million per year, subject to a 50% rent abatement during the first year of the Lease, and will increase annually by (i) 2.5% in the second through fifth year of the Lease and (ii) 3% in the sixth and each subsequent year of the Lease, including any renewal term.
Security deposit	$ 2,000,000.0
Lease repurchase description	the Company has four options to repurchase the Property, in 2026, 2031, 2036 and 2041, for the greater of (i) $102.3 million and (ii) the fair market value of the Property.
Minimum \| Casper L L C
Commitments And Contingencies [Line Items]
Lease repurchase, amount	$ 102,300,000
Milestone Rights Liability
Commitments And Contingencies [Line Items]
Contingent liability remain payable				65,000,000.0
Accrued expenses and other current liabilities				1,100,000
Milestone rights liability				$ 4,800,000
Milestone Rights Liability \| Maximum
Commitments And Contingencies [Line Items]
Contingent liability for milestone payments							$ 90,000,000.0

Inventories

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventories

4. Inventories

Inventories consist of the following (in thousands):

	December 31,
	2021		2020
Raw materials	$	2,703	$	1,393
Work-in-process		2,522		2,484
Finished goods		1,927		1,096
Total inventory	$	7,152	$	4,973

Work-in-process and finished goods as of December 31, 2021 and 2020 include conversion costs and exclude the cost of insulin. All insulin inventory on hand was written off and the projected loss on the purchase commitment contract to purchase future insulin was accrued as of the end of 2015. Raw materials inventory included $0.8 million of pre-launch inventory as of December 31, 2021 and 2020, which consisted of FDKP received in November 2019 that will be used to manufacture Afrezza under an enhanced manufacturing process for FDKP. The Company expects to receive FDA approval of the new source of FDKP in 2023.

The Company analyzed its inventory levels to identify inventory that may expire or has a cost basis in excess of its estimated realizable value. The Company also performed an assessment of projected sales and evaluated the lower of cost or net realizable value and the potential excess inventory on hand at December 31, 2021 and 2020. Inventory that was forecasted to become obsolete due to expiration as well as inventory that does not meet acceptable standards is recorded in costs of goods sold in the accompanying consolidated statements of operations. For the year ended December 31, 2021, there was an inventory write-off of $1.9 million as a result of this assessment, including $0.7 million related to the start of an agreement with a retail pharmacy. There was an inventory write-off of $0.5 million for the year ended December 31, 2020.

Commitments and Contingencies - Schedule of Future Minimum Office And Vehicle Lease Payments (Detail) - office and vehicle - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Commitments And Contingencies [Line Items]
Year 1		$ 1,494
Year 2	$ 1,444	1,239
Year 3	497	88
Year 4	409
Year 5	311
Total	$ 2,661	$ 2,821

Borrowings - Summary of Carrying Amount of Borrowings (Detail) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Mann Group promissory notes

Senior convertible notes

$ 223,944

^[1]

18,425

$ 63,027

Total debt — net carrying amount

281,202

122,235

2024 Convertible Notes

Senior convertible notes

5,000

4,873

Credit Facility

$ 38,833

$ 49,335

[1]

The amendment to the Mann Group convertible note in the second quarter of 2021 resulted in a substantial premium of $22.1 million based on the fair value post modification, which contributed to the loss on extinguishment in the consolidated statement of operations for the year ended December 31, 2021 and was recognized as additional paid-in capital in the consolidated balance sheet as of December 31, 2021. The accounting for the $22.1 million loss on extinguishment did not result in a change in the financial position of the Company.

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

Commitments and Contingencies - Summary of Lease Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Operating lease costs	$ 863	$ 1,403
Variable lease costs	515	394
Cash paid	$ 1,867	$ 1,797

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (80,926)	$ (57,240)
Other comprehensive loss:
Cumulative translation loss		(19)
Comprehensive loss	$ (80,926)	$ (57,259)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]

Description of Business - Additional Information (Detail) - USD ($)
$ in Thousands

1 Months Ended

Mar. 31, 2021

Dec. 31, 2021

Dec. 31, 2020

Nov. 30, 2020

Dec. 31, 2019

Aug. 31, 2019

Accumulated deficit

$ (3,130,069)

$ (3,049,143)

Cash and cash equivalents

288,400

124,184

67,005

Short-term investments

79,932

Long-term investments

56,619

Debt issuance amount

$ 230,000

Debt issuance percentage

2.50%

Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]

^[1]

$ 40,000

$ 50,000

$ 100,000

Amount outstanding

$ 40,000

Minimum cash covenant

$ 30,000

$ 90,000

[1]	In April 2021, the Company prepaid $10.0 million principal balance and amended the MidCap credit facility. The interest rate prior to the amendment was one-month LIBOR (2% floor) plus 6.75% and the maturity date was in August 2024.

Borrowings - PPP Loan - Additional Information (Detail) - USD ($)
$ in Thousands

1 Months Ended

12 Months Ended

Apr. 22, 2021

Apr. 10, 2020

Aug. 31, 2019

Dec. 31, 2021

Dec. 31, 2020

Proceeds from Issuance of Long-term Debt

$ 4,873

Loss on extinguishment of debt

Dec. 31, 2025

Nov. 03, 2024

$ (17,200)

$ (264)

Proceeds from Issuance of Long-term Debt

$ 4,900

Apr. 09, 2022

Loss on extinguishment of debt

0.98%

^[1]

$ 4,900

[1]	In July 2021, the Company received full forgiveness from the SBA for the $4.9 million principal balance of the PPP loan and recognized a gain on extinguishment of debt for the full principal balance and a de minimis amount of accrued but unpaid interest.

Borrowings (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Summary of Carrying Amount of Borrowings

Carrying amount of borrowings consist of the following (in thousands):

	December 31,
	2021		2020
Senior convertible notes	$	223,944	$	—
Mann Group promissory notes⁽¹⁾		18,425		63,027
MidCap credit facility		38,833		49,335
2024 convertible notes		—		5,000
PPP Loan		—		4,873
Total debt — net carrying amount	$	281,202	$	122,235

Schedule of Line of Credit Facility Debt and Key Terms

The following table provides a summary of the Company’s debt and key terms:

Amount Due

Terms

December 31, 2021

December 31,

2020

Annual Interest Rate

Maturity Date

Conversion Price

Senior convertible notes

$230.0 million

—

2.50%

March 2026

$5.21

per share

MidCap credit facility⁽¹⁾

$40.0 million

$50.0 million

one-month

LIBOR (1% floor)

plus 6.25%

(1)

August 2025

(1)

N/A

Mann Group convertible note

$18.4 million (plus $0.4 million accrued interest paid-in-kind)

$28.0 million (plus $0.6 million accrued interest paid-in-kind)

2.50%

(2)

December 2025

(2)

$2.50

per share

Mann Group non-convertible note⁽³⁾

—

$35.1 million (plus $3.6 million accrued interest paid-in-kind)

7.00%

November 2024

N/A

PPP loan⁽⁴⁾

—

$4.9 million

0.98%

April 2022

N/A

2024 convertible notes⁽⁵⁾

—

$5.0 million

5.75%

November 2024

$3.00

per share

Schedule of Maturities of Our Borrowings

The maturities of our borrowings as of December 31, 2021 are as follows (in thousands):

	Amounts
2022	$	—
2023		6,667
2024		20,000
2025		31,758
Thereafter		230,000
Total principal payments		288,425
Unamortized discount		(1,167	)
Debt issuance costs		(6,056	)
Total debt	$	281,202

Schedule of Amortization of Premium and Accretion of Debt Issuance Costs

Amortization of the premium and accretion of debt issuance costs related to all borrowings for the years ended December 31, 2021 and 2020 are as follows (in thousands):

	Year Ended December 31,

	2021		2020
Amortization of debt discount		377		268
Amortization of debt issuance cost		1,215		101

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported on the consolidated balance sheets that sum to amounts reported on the consolidated statement of cash flows (in thousands):

	December 31,
	2021		2020
Cash and cash equivalents	$	124,184	$	67,005
Restricted cash		—		158
Total cash, cash equivalents, and restricted cash	$	124,184	$	67,163

Schedule of Contractual Maturities of Held to Maturity Investments

The contractual maturities of our held to maturity investments as of December 31, 2021 and 2020 are summarized below (in thousands):

	December 31, 2021				December 31, 2020
	Amortized Cost Basis		Aggregate Fair Value		Amortized Cost Basis		Aggregate Fair Value
Due in one year or less⁽¹⁾	$	103,733	$	103,669	$	59,495	$	59,495
Due after one year through five years		56,619		56,433		—		—
Total	$	160,352	$	160,102	$	59,495	$	59,495

____________________________

(1)	The investments due in one year or less include cash equivalents of $23.8 million as of December 31, 2021 and $59.5 million as of December 31, 2020.

Schedule of Accounts Receivable, Net

Accounts receivable, net consists of the following (in thousands):

	December 31,
	2021			2020
Accounts receivable – commercial
Accounts receivable, gross	$	7,939		$	8,090
Wholesaler distribution fees and prompt pay discounts		(1,696	)		(1,205	)
Reserve for returns		(2,797	)		(2,667	)
Total accounts receivable – commercial, net		3,446			4,218
Accounts receivable – collaborations and services
Accounts receivable, gross		2,060			—
Allowance for credit losses		(767	)		—
Total accounts receivable – collaborations and services, net		1,293			4,218
Accounts receivable – other		255			—
Total accounts receivable, net	$	4,994		$	4,218

Commitments and Contingencies - Schedule of Lease Term and Discount Rate (Detail)	Dec. 31, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Weighted average remaining lease term (in years)	2 years 7 months 6 days	1 year 10 months 24 days
Weighted average discount rate	7.30%	7.50%

Property and Equipment, Net (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Property Plant And Equipment [Line Items]
Proceeds from related party	$ 5.0
U T Equipment
Property Plant And Equipment [Line Items]
Construction in Progress, Gross	4.7
Proceeds from related party	$ 5.0

Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 124,184	$ 67,005
Restricted cash		158
Total cash, cash equivalents, and restricted cash	$ 124,184	$ 67,163	$ 30,222

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer matching contribution deferral rate	50.00%	50.00%
Total discretionary matching contributions	$ 1.5	$ 0.9
One Year Service
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Employers matching contribution vesting percentage		50.00%
Two Year Service
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Employers matching contribution vesting percentage	100.00%	100.00%
Maximum
Defined Benefit Plans And Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer matching contribution, percent of employees' compensation	10.00%	6.00%

Amount of contribution received by defined benefit plan from employer which increases plan assets.

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies

13. Commitments and Contingencies

Guarantees and Indemnifications — In the ordinary course of its business, the Company makes certain indemnities, commitments and guarantees under which it may be required to make payments in relation to certain transactions. The Company, as permitted under Delaware law and in accordance with its Bylaws, indemnifies its officers and directors for certain events or occurrences, subject to certain limits, while the officer or director is or was serving at the Company’s request in such capacity. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum amount of potential future indemnification is unlimited; however, the Company has a director and officer insurance policy that may enable it to recover a portion of any future amounts paid. The Company believes the fair value of these indemnification agreements is minimal. The Company has not recorded any liability for these indemnities in the accompanying consolidated balance sheets. However, the Company accrues for losses for any known contingent liability, including those that may arise from indemnification provisions, when future payment is probable and the amount can be reasonably estimated. No such losses have been recorded to date.

Litigation — The Company is subject to legal proceedings and claims which arise in the ordinary course of its business. As of December 31, 2021, the Company believes that the final disposition of such matters will not have a material adverse effect on the financial position, results of operations or cash flows of the Company and no accrual has been recorded. The Company maintains liability insurance coverage to protect the Company’s assets from losses arising out of or involving activities associated with ongoing and normal business operations. The Company records a provision for a liability when it is both probable that a liability has been incurred and the amount of the loss can be

reasonably estimated. The Company’s policy is to accrue for legal expenses in connection with legal proceedings and claims as they are incurred.

Contingencies — In July 2013, the Company entered into an agreement with the Original Milestone Purchasers, pursuant to which the Company granted the Milestone Rights to receive payments up to $90.0 million upon the occurrence of specified strategic and sales milestones, $65.0 million of which remains payable to Barings upon achievement of such milestones (see Note 7 — Borrowings). The fair value of the Milestone Rights is recorded in the consolidated balance sheet, including $1.1 million in accrued expenses and other current liabilities and $4.8 million in milestone rights liability.

Sale lease-back — On November 8, 2021, the Company sold the Property to the Purchaser for a sales price of $102.3 million, subject to terms and the conditions contained in a purchase and sale agreement.

Effective with the closing of the Sale-Leaseback Transaction, the Company and the Purchaser entered into a lease agreement (the “Lease”), pursuant to which the Company leased the Property from the Purchaser for an initial term of 20 years, with four renewal options of five years each. The total annual rent under the Lease starts at approximately $9.5 million per year, subject to a 50% rent abatement during the first year of the Lease, and will increase annually by (i) 2.5% in the second through fifth year of the Lease and (ii) 3% in the sixth and each subsequent year of the Lease, including any renewal term. The Company is responsible for payment of operating expenses, property taxes and insurance for the Property. The Purchaser will hold a security deposit of $2.0 million during the Lease term. Pursuant to the terms of the Lease, the Company has four options to repurchase the Property, in 2026, 2031, 2036 and 2041, for the greater of (i) $102.3 million and (ii) the fair market value of the Property.

Effective with the closing of the Sale-Leaseback Transaction, the Company and the Purchaser also entered into a right of first refusal agreement (the “ROFR”), pursuant to which the Company has a right to re-purchase the Property from the Purchaser in accordance with terms and conditions set forth in the ROFR. Specifically, if the Purchaser receives, and is willing to accept, a bona fide purchase offer for the Property from a third-party purchaser, the Company has certain rights of first refusal to purchase the Property on the same material terms as proposed in such bona fide purchase offer.

As of December 31, 2021, the related financing liability was $100.5 million, which was recognized in our consolidated balance sheet as $93.5 million of financing liability — long-term and $7.0 million of financing liability — short-term.

Financing liability information is as follows (in thousands):

	December 31, 2021
Weighted average remaining lease term (in years)		19.8
Weighted average discount rate		9.0	%

		December 31, 2021
Interest expense on financing liability		$	1,373

Financing liability payments as of December 31, 2021 was as follows (in thousands):

	December 31, 2021
2022⁽¹⁾	$	6,373
2023		9,778
2024		10,023
2025		10,274
2026		10,539
Thereafter		199,091
Total		246,078
Interest payments		(142,485	)
Debt issuance costs		(3,091	)
Total financing liability	$	100,502

⁽¹⁾	2022 includes the amortization of the rent abatement.

Commitments — In July 2014, the Company entered into the Insulin Supply Agreement with Amphastar pursuant to which Amphastar manufactures for and supplies to the Company certain quantities of recombinant human insulin for use in Afrezza. Under the terms of the Insulin Supply Agreement, Amphastar is responsible for manufacturing the insulin in accordance with the Company’s specifications and agreed-upon quality standards.

In May 2021, the Company and Amphastar France Pharmaceuticals S.A.S. (“Amphastar”) amended the Insulin Supply Agreement to extend the term and restructure the annual purchase commitments. In connection with the amendment, the Company agreed to pay $2.0 million of amendment fees, which were recognized in cost of goods sold for the year ended December 31, 2021. The remaining purchase commitments as of December 31, 2021 and March 31, 2021 (pre-amendment) were as follows:

	December 31, 2021		March 31, 2021
2022	€	5.4 million	€	7.0 million
2023	€	8.8 million	€	8.5 million
2024	€	14.6 million	€	10.9 million
2025	€	15.5 million	€	14.6 million
2026	€	19.4 million	€	15.5 million
2027	€	9.2 million	€	19.4 million

Pursuant to the amendment, the term of the Insulin Supply Agreement expires on December 31, 2027, unless terminated earlier, and can be renewed for additional, successive two-year terms upon 12 months’ written notice given prior to the end of the initial term or any additional two-year term. The Company and Amphastar each have normal and customary termination rights, including termination for a material breach that is not cured within a specific time frame or in the event of liquidation, bankruptcy or insolvency of the other party. In addition, the Company may terminate the Insulin Supply Agreement upon two years’ prior written notice to Amphastar without cause or upon 30 days’ prior written notice to Amphastar if a controlling regulatory authority withdraws approval for Afrezza, provided, however, in the event of a termination pursuant to either of the latter two scenarios, the provisions of the Insulin Supply Agreement require the Company to pay the full amount of all unpaid purchase commitments due over the initial term within 60 calendar days of the effective date of such termination.

Vehicle Leases – During the second quarter of 2018, the Company entered into a lease agreement with Enterprise Fleet Management Inc. During 2021, 85 vehicles were retired and all of those vehicles were replaced, resulting in a fleet size of 89 vehicles. The Company received proceeds for the gain on the retired vehicles residual value in the amount of $0.5, which is included as a reduction to our lease expense. The revised monthly payment inclusive of maintenance fees, insurance and taxes is approximately $0.1 million and the additional right of use asset and lease obligation is approximately $1.4 million in the consolidated balance sheets. The lease expense is included in selling, general and administrative expenses in the consolidated statements of operations.

Office Leases — In May 2017, the Company executed an office lease with Russell Ranch Road II LLC for the Company’s corporate offices in Westlake Village, California. The office lease commenced in August 2017. The Company agreed to pay initial monthly lease payments of $40,951, subject to 3% annual increases, plus the estimated cost of maintaining the property and common areas by the landlord, with a five-month concession from October 2017 through February 2018. The lease also provides for allowances for tenant alterations and maintenance. The lease expires in January 2023 and provides the Company with a five-year renewal option. The lease expense is included in selling, general and administrative expenses in the accompanying consolidated statement of operations.

In November 2017, the Company executed an office lease with Russell Ranch Road II LLC to expand the office space for the Company’s corporate offices in Westlake Village, California. The office lease commenced in October 2018. The Company agreed to pay initial monthly lease payments of $35,969, subject to a 3% annual increase, plus the estimated operating cost of maintaining the property by the landlord, which are allocable based an annual assessment made by the landlord. In addition, the Company received reimbursement from the landlord of $56,325 for tenant improvements and was not required to pay a first-year common area maintenance fee. The lease expires in January 2023 and provides the Company with a five-year renewal option.

Lease information is as follows (in thousands):

	December 31, 2021			December 31, 2020
Weighted average remaining lease term (in years)		2.6			1.9
Weighted average discount rate		7.3	%		7.5	%

	December 31,
	2021		2020
Operating lease costs	$	863	$	1,403
Variable lease costs		515		394
Cash paid		1,867		1,797

Future minimum office and vehicle lease payments as of December 31, 2021 and 2020 were as follows (in thousands):

	December 31,
	2021		2020
2021	$	—	$	1,494
2022		1,444		1,239
2023		497		88
2024		409		—
2025		311		—
Total	$	2,661	$	2,821

Collaboration, Licensing and Other Arrangements - Additional Information (Detail) - USD ($)

1 Months Ended

12 Months Ended

20 Months Ended

Oct. 16, 2021

Jul. 01, 2021

May 31, 2018

Dec. 31, 2021

Dec. 31, 2020

Nov. 30, 2020

Aug. 31, 2021

Aug. 12, 2021

Dec. 31, 2019

Oct. 31, 2018

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Proceeds from related party

$ 50,900,000

5,000,000.0

Deferred revenue - current

20,370,000

$ 34,937,000

$ 40,847,000

827,000

33,275,000

Deferred revenue - non-current

19,543,000

1,662,000

75,442,000

65,144,000

Deferred revenue — current

20,370,000

34,937,000

$ 40,847,000

827,000

33,275,000

Deferred revenue — long term

19,543,000

1,662,000

Collaborations and services

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

36,274,000

32,820,000

AFREZZA product sales

Collaboration and License Agreement | United Therapeutics Corporation

39,168,000

32,324,000

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Upfront payment received

$ 45,000,000.0

Milestone Payment Received

$ 12,500,000

50,900,000

^[1]

$ 463,500,000

Deferred revenue - current

18,600,000

600,000

Deferred revenue - non-current

18,000,000.0

Deferred revenue — current

18,600,000

600,000

Deferred revenue — long term

18,000,000.0

Collaboration and License Agreement | United Therapeutics Corporation | Clinical Supplies

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Collaboration and License Agreement | United Therapeutics Corporation | Maximum

105,800,000

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Additional option exercise and development milestone payments to be receive

40,000,000.0

Collaboration and License Agreement | United Therapeutics Corporation | Manufacturing Services

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Allocated transaction price

144,500,000

Revenue recognized during period

$ 0

Collaboration and License Agreement | United Therapeutics Corporation | Manufacturing Services | Transaction Price For The Contractual Obligations

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Collaboration and License Agreement | United Therapeutics Corporation | Next-Gen R&D Services | Transaction Price For The Performance Obligations

64,300,000

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Collaboration and License Agreement | Tyvaso DPI

$ 399,200,000

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Commercial Supply Agreement

$ 221,500,000

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Amendment description

Commercial Supply Agreement | United Therapeutics Corporation | Collaborations and services

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

$ 267,000

Co-Promotion Agreement

Impairment on contract assets related to variable consideration

100,000

Co-Promotion Agreement | Collaborations and services

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Reserve for allowance for doubtful accounts

800,000

Co-Promotion Agreement | Vertice Pharma LLC

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Amendment to Co Promotion Agreement | Vertice Pharma LLC

6,300,000

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Percentage of modification of previously fixed consideration

50.00%

Supply and Distribution Agreement | AFREZZA product sales | Biomm

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

License and Distribution Agreement | Cipla Ltd

200,000

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Deferred revenue - current

1,700,000

100,000

Deferred revenue - non-current

1,600,000

Marketing and distribution agreement date

2018-05

Deferred revenue — current

1,700,000

100,000

Deferred revenue — long term

1,600,000

License and Distribution Agreement | Collaborations and services | Cipla Ltd

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

$ 147,000

[1]	The total anticipated cash flow includes a transaction price of $64.3 million for the contractual obligations under the CSA for the Manufacturing Services and the Next-Gen R&D Services performance obligations and $399.2 million for future supply of Tyvaso DPI over the remaining term of the CSA.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2021

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Financial Statement Estimates — The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates or assumptions. Management considers many factors in selecting appropriate financial accounting policies, and in developing the estimates and assumptions that are used in the preparation of the financial statements. Management must apply significant judgment in this process and the COVID-19 pandemic has increased the level of judgment used by management in developing these estimates and assumptions. The COVID-19 pandemic continues to rapidly evolve and the ultimate impact of the COVID-19 pandemic is highly uncertain and subject to change. These effects could have a material impact on the estimates and assumptions used in the preparation of the accompanying consolidated financial statements. The more significant estimates include revenue recognition, including gross-to-net adjustments, stand-alone selling price considerations for recognition of collaboration revenue assessing long-lived assets for impairment, clinical trial expenses, inventory costing and recoverability, recognized loss on purchase commitment, milestone rights liability, stock-based compensation and the determination of the provision for income taxes and corresponding deferred tax assets and liabilities, and the valuation allowance recorded against net deferred tax assets.

Revenue Recognition — The Company recognizes revenue when its customers obtain control of promised goods or services, in an amount that reflects the consideration which the Company expects to be entitled in exchange for those goods or services. The Company recognizes revenue on product sales to a retail pharmacy as the product is dispensed to patients.

To determine revenue recognition for arrangements that are within the scope of Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”), the Company performs the following five steps: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to arrangements that meet the definition of a contract under ASC 606, including when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer.

At contract inception, once the contract is determined to be within the scope of ASC 606, the Company assesses the goods or services promised within each contract, determines those that are performance obligations, and assesses whether each promised good or service is distinct. The Company has two types of contracts with customers: (i) contracts for commercial product sales with wholesale distributors, specialty and retail pharmacies and (ii) collaboration arrangements.

Revenue Recognition – Net Revenue – Commercial Product Sales – The Company sells Afrezza to a limited number of wholesale distributors and specialty and retail pharmacies in the U.S. (collectively, its “Customers”). Wholesale distributors subsequently resell the Company’s products to retail pharmacies and certain medical centers or hospitals. Specialty and retail pharmacies sell directly to patients. In addition to distribution agreements with Customers, the Company enters into arrangements with payers that provide for government mandated and/or privately negotiated rebates, chargebacks, and discounts with respect to the purchase of the Company’s products.

The Company recognizes revenue on product sales when the Customer obtains control of the Company's product, which occurs at delivery for wholesale distributors and generally at delivery for specialty pharmacies. The Company recognizes revenue on product sales to a retail pharmacy as the product is dispensed to patients. Product revenues are recorded net of applicable reserves, including discounts, allowances, rebates, returns and other incentives. See Reserves for Variable Consideration below.

Free Goods Program – From time to time, the Company offers programs to potential new patients that allow them to obtain free goods (prescription fills) from a pharmacy. The Company excludes such amounts related to these programs from both gross and net revenue. The cost of product associated with the free goods program is recognized as cost of goods sold in the consolidated statements of operations.

Reserves for Variable Consideration — Revenues from product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established. Components of variable consideration include trade discounts and allowances, product returns, provider chargebacks and discounts, government rebates, payer rebates, and other incentives, such as voluntary patient assistance, and other allowances that are offered within contracts between the Company and its Customers, payers, and other indirect customers relating to the Company’s sale of its products. These reserves, as further detailed below, are based on the amounts earned, or to be claimed on the related sales, and result in a reduction of accounts receivable or establishment of a current liability. Significant judgments are required in making these estimates.

Where appropriate, these estimates take into consideration a range of possible outcomes, which are probability-weighted in accordance with the expected value method in ASC 606 for relevant factors such as current contractual and statutory requirements, specific known market events and trends, industry data, and forecasted customer buying and payment patterns. Overall, these reserves reduce recognized revenue to the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the respective underlying contracts.

The amount of variable consideration that is included in the transaction price may be constrained, and is included in the net sales price only to the extent that it is probable that a significant reversal in the amount of the cumulative revenue recognized under the contract will not occur in a future period. The Company’s analysis also contemplates application of the constraint in accordance with the guidance, under which it determined a material reversal of revenue would not occur in a future period for the estimates detailed below as of December 31, 2021 and, therefore, the transaction price was not reduced further during the year ended December 31, 2021. Actual amounts of consideration ultimately received may differ from the Company’s estimates. If actual results in the future vary from the Company’s estimates, the Company will adjust these estimates, which would affect net revenue — commercial product sales and earnings in the period such variances become known.

Significant judgment is required in estimating gross-to-net adjustments considering legal interpretations of applicable laws and regulations, historical experience, payer channel mix, current contract prices under applicable programs, unbilled claims, processing time lags and inventory levels in the distribution channel.

Trade Discounts and Allowances — The Company generally provides Customers with discounts which include incentives, such as prompt pay discounts, that are explicitly stated in the Company’s contracts and are recorded as a reduction of revenue in the period the related product revenue is recognized. In addition, the Company compensates (through trade discounts and allowances) its Customers for sales order management, data, and distribution services. However, the Company has determined such services received to date are not distinct from the Company’s sale of products to the Customer and, therefore, these payments have been recorded as a reduction of revenue and as a reduction to accounts receivable, net.

Product Returns — Consistent with industry practice, the Company generally offers Customers a right of return for unopened product that has been purchased from the Company for a period beginning six months prior to and ending 12 months after its expiration date, which lapses upon shipment to a patient. The Company estimates the amount of its product sales that may be returned by its Customers and records this estimate as a reduction of revenue in the period the related product revenue is recognized, as well as reductions to accounts receivable, net. The Company currently estimates product returns using available industry data and its own sales information, including its visibility into the inventory remaining in the distribution channel. The Company’s current return reserve percentage is estimated to be in the single-digits. Adjustments to the returns reserve have been made in the past and may be necessary in the future based on revised estimates to our assumptions.

Provider Chargebacks and Discounts — Chargebacks for fees and discounts to providers represent the estimated obligations resulting from contractual commitments to sell products to qualified healthcare providers at prices lower than the list prices charged to Customers who directly purchase the product from the Company. Customers charge the Company for the difference between what they pay for the product and the ultimate selling price to the qualified healthcare providers. These reserves are established in the same period that the related revenue is recognized, resulting in a reduction of product revenue and the establishment of a current liability that is recorded in accrued expenses and other current liabilities. Chargeback amounts are generally determined at the time of resale to the qualified healthcare provider by Customers, and the Company generally issues credits for such amounts within a few weeks of the Customer’s notification to the Company of the resale. Reserves for chargebacks consist of credits that the Company expects to issue for units that remain in the distribution channel inventories at each reporting period-end that the Company expects will be sold to qualified healthcare providers, and chargebacks that Customers have claimed, but for which the Company has not yet issued a credit.

Government Rebates — The Company is subject to discount obligations under Medicare and state Medicaid programs. These reserves are recorded in the same period the related revenue is recognized, resulting in a reduction of product revenue and the establishment of a current liability that is included in accrued expenses and other current liabilities. Estimates around Medicaid have historically required significant judgment due to timing lags in receiving invoices for claims from states. For Medicare, the Company also estimates the number of patients in the prescription drug coverage gap for whom the Company will owe an additional liability under the Medicare Part D program. The Company’s liability for these rebates consists of invoices received for claims from prior quarters that have not been paid or for which an invoice has not yet been received, estimates of claims for the current quarter, and estimated future claims that will be made for product that has been recognized as revenue, but which remains in the distribution channel inventories at the end of each reporting period. The Company’s estimates include consideration of historical claims experience, payer channel mix, current contract prices, unbilled claims, claim submission time lags and inventory in the distribution channel.

Payer Rebates — The Company contracts with certain private payer organizations, primarily insurance companies and pharmacy benefit managers, for the payment of rebates with respect to utilization of its products. The Company estimates these rebates, including estimates for product that has been recognized as revenue, but which remains in the distribution channel, and records such estimates in the same period the related revenue is recognized, resulting in a reduction of product revenue and the establishment of a current liability which is included in accrued expenses and other current liabilities. The Company’s estimates include consideration of historical claims experience, payer channel mix, current contract prices, unbilled claims, claim submission time lags and inventory in the distribution channel.

Other Incentives — Other incentives which the Company offers include voluntary patient support programs, such as the Company's co-pay assistance program, which are intended to provide financial assistance to qualified commercially-insured patients with prescription drug co-payments required by payers. The calculation of the accrual for co-pay assistance is based on an estimate of claims and the cost per claim that the Company expects to receive associated with the product that has been recognized as revenue, but remains in the distribution channel inventories at the end of each reporting period. The adjustments are recorded in the same period the related revenue is recognized, resulting in a reduction of product revenue and the establishment of a current liability that is included in accrued expenses and other current liabilities.

Revenue Recognition — Revenue — Collaborations and Services — The Company enters into licensing, research or other agreements under which the Company licenses certain rights to its product candidates to third parties, or conducts research or provides other services to third parties. The terms of these arrangements may include, but are not limited to payment to the Company of one or more of the following: up-front license fees; development, regulatory, and commercial milestone payments; payments for manufacturing commercial and clinical supply services the Company provides; and royalties on net sales of licensed products and sublicenses of the rights. As part of the accounting for these arrangements, the Company must develop assumptions that require judgment such as determining the performance obligation in the contract and determining the stand-alone selling price for each performance obligation identified in the contract. With respect to our significant collaboration and service agreement with UT that includes a long-term customer supply agreement (“CSA”), we have identified three distinct performance obligations: (1) R&D Services and License; (2) Next-Gen R&D Services; and (3) a material right for manufacturing services (“Manufacturing Services”). Pre-production activities under the CSA, such as facility expansion services and other administrative services, were considered bundled services under the Manufacturing Services performance obligation as required by ASC 606. See Note 8 – Collaboration, Licensing and Other Arrangements of the Notes to Consolidated Financial Statements included in Part II, Item 8 — Financial Statements and Supplementary Data.

If an arrangement has multiple performance obligations, the allocation of the transaction price is determined from observable market inputs, and the Company uses key assumptions to determine the stand-alone selling price, which may include development timelines, reimbursement rates for personnel costs, discount rates, and probabilities of technical and regulatory success. Revenue is recognized based on the measurement of progress as the performance obligation is satisfied and consideration received that does not meet the requirements to satisfy the revenue recognition criteria is recorded as deferred revenue. Current deferred revenue consists of amounts that are expected to be recognized as revenue in the next 12 months. Amounts that the Company expects will not be recognized within the next 12 months are classified as long-term deferred revenue. For further information, see Note 8 – Collaboration, Licensing and Other Arrangements.

The Company recognizes upfront license payments as revenue upon delivery of the license only if the license is determined to be a separate unit of accounting from the other undelivered performance obligations. The undelivered performance obligations typically include

manufacturing or development services or research and/or steering committee services. If the license is not considered as a distinct performance obligation, then the license and other undelivered performance obligations would be evaluated to determine if such should be accounted for as a single unit of accounting. If concluded to be a single performance obligation, the transaction price for the single performance obligation is recognized as revenue over the estimated period of when the performance obligation is satisfied. If the license is considered to be a distinct performance obligation, then the estimated revenue is included in the transaction price for the contract, which is then allocated to each performance obligation based on the respective standalone selling prices. If the revenue for a sales-based or usage-based royalty is promised in exchange for an intellectual property license, the Company recognizes revenue as the latter of the subsequent sale or usage occurs or the performance obligation to which the royalty has been allocated has been satisfied or partially satisfied.

Whenever the Company determines that an arrangement should be accounted for over time, the Company determines the period over which the performance obligations will be performed, and revenue will be recognized over the period the Company is expected to complete its performance obligations. Significant management judgment is required in determining the level of effort required under an arrangement and the period over which the Company is expected to complete its performance obligations under an arrangement.

The Company’s collaboration agreements typically entitle the Company to additional payments upon the achievement of development, regulatory and sales milestones. If the achievement of a milestone is considered probable at the inception of the collaboration, the related milestone payment is included with other collaboration consideration, such as upfront fees and research funding, in the Company’s revenue calculation. If these milestones are not considered probable at the inception of the collaboration, the milestones will typically be recognized in one of two ways depending on the timing of when the milestone is achieved. If the milestone is improbable at inception and subsequently deemed probable of achievement, such will be added to the transaction price, resulting in a cumulative adjustment to revenue. If the milestone is achieved after the performance period has been completed and all performance obligations have been delivered, the Company will recognize the milestone payment as revenue in its entirety in the period the milestone was achieved.

The Company’s collaborative agreements, for accounting purposes, represent contracts with customers and therefore are not subject to accounting literature on collaborative agreements. The Company grants licenses to its intellectual property, supplies raw materials, semi-finished goods or finished goods, provides research and development services and offers sales support for the co-promotion of products, all of which are outputs of the Company’s ongoing activities, in exchange for consideration. Accordingly, the Company concluded that its collaborative agreements must generally be accounted for pursuant to ASC 606.

For collaboration agreements that allow collaboration partners to select additional optioned products or services, the Company evaluates whether such options contain material rights (i.e., have exercise prices that are discounted compared to what the Company would charge for a similar product or service to a new collaboration partner). The exercise price of these options includes a combination of licensing fees, event-based milestone payments and royalties. When these amounts in aggregate are not offered at a discount that exceeds discounts available to other customers, the Company concludes the option does not contain a material right, and therefore is not included in the transaction price at contract inception. The Company assessed the CSA agreement with UT and determined that a material right existed for the manufacturing services performance obligation. The transaction price is allocated to the material right as well as the remaining performance obligations in accordance with ASC 606. The Company also evaluates grants of additional licensing rights upon option exercises to determine whether such should be accounted for as separate contracts.

The Company follows detailed accounting guidance in measuring revenue and certain judgments affect the application of its revenue policy. For example, in connection with its existing collaboration agreements, the Company has recorded on its consolidated balance sheets short-term and long-term deferred revenue based on its best estimate of when such revenue will be recognized. Short-term deferred revenue consists of amounts that are expected to be recognized as revenue in the next 12 months. Amounts that the Company expects will not be recognized within the next 12 months are classified as long-term deferred revenue. However, this estimate is based on the Company’s current project development plan and, if the development plan should change in the future, the Company may recognize a different amount of deferred revenue over the next 12-month period.

Milestone Payments — At the inception of each arrangement that includes development milestone payments, the Company evaluates whether the milestones are considered probable of being reached and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the control of the Company or the customer, such as regulatory approvals, are not considered probable of being achieved until those approvals are received. The transaction price is then allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue as, or when, the performance obligations under the contract are satisfied. At the end of each subsequent reporting period, the Company will re-evaluate the probability of achievement of such development milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis, which would affect license, collaboration, other revenue, and earnings in the period of adjustment.

Paycheck Protection Program Loan — On April 10, 2020, the Company received the proceeds from a loan in the amount of approximately $4.9 million (the “PPP Loan”) from JPMorgan Chase Bank, N.A., as lender, pursuant to the Paycheck Protection Program (“PPP”) of the CARES Act. The Company accounted for the PPP Loan as a financial liability in accordance with ASC Topic 470, Debt. Accordingly, the PPP Loan was recognized as current and long-term debt in the Company’s consolidated balance sheets and is included as Paycheck Protection Program loan — current and Paycheck Protection Program loan — long term. In addition, a de minimis amount of accrued interest is included in accrued expenses and other current liabilities. On July 28, 2021, the Company received notification from the U.S. Small Business Administration (“SBA”) that the full principal amount of the PPP loan was forgiven. See Note 7 – Borrowings for additional information.

Cost of Goods Sold — Cost of goods sold includes material, labor costs and manufacturing overhead. Cost of goods sold also includes a significant component of current period manufacturing costs in excess of costs capitalized into inventory (“excess capacity costs”). These costs, in addition to the impact of the annual revaluation of inventory for standard costing, and write-offs of inventory are recorded as expenses in the period in which they are incurred, rather than as a portion of inventory costs. Cost of goods sold excludes the cost of insulin purchased under our supply agreement with Amphastar (“Insulin Supply Agreement”). All insulin inventory on hand was written off and the full purchase commitment contract to purchase future insulin was accrued as a recognized loss on purchase commitments as of the end of 2015.

Cost of Revenues – Collaborations and Services — Cost of revenues – collaborations and services includes material, labor costs, manufacturing overhead, and excess capacity costs. These costs, in addition to the write-offs of inventory are recorded as expenses in the period in which they are incurred, rather than as a portion of inventory costs. Cost of revenues – collaborations and services also includes the cost of product development and the allocation of selling expenses related to a co-promotion collaboration agreement.

Cash and Cash Equivalents and Restricted Cash — The Company considers all highly liquid investments with original or remaining maturities of 90 days or less at the time of purchase, that are readily convertible into cash to be cash equivalents. As of December 31, 2021 and 2020, cash equivalents were comprised of money market, corporate bonds and commercial paper accounts with original maturities less than 90 days from the date of purchase.

The Company records restricted cash when cash and cash equivalents are restricted as to withdrawal or usage. The Company presents amounts of restricted cash that will be available for use within 12 months of the reporting date as restricted cash in current assets.

	December 31,
	2021		2020
Cash and cash equivalents	$	124,184	$	67,005
Restricted cash		—		158
Total cash, cash equivalents, and restricted cash	$	124,184	$	67,163

Held-to-Maturity Investments — The Company’s investments generally consist of commercial paper, corporate notes or bonds and U.S. Treasury securities. For the year ended December 31, 2021, the Company held short-term and long-term investments of debt securities, including commercial paper and bonds. The Company assesses whether it has any intention to sell the investment before maturity, whether any declines in fair value are the result of credit losses, as well as whether there were other-than-temporary impairments associated with the available for sale investment. The Company intends to hold its investments until maturity; therefore, these investments are stated at amortized cost. The investments with maturities less than 12 months are included in short-term investments and investments with maturities in excess of twelve months are included in long-term investments in the consolidated balance sheets. The amortization or accretion of the Company’s investments is recognized as interest income in the consolidated statements of operations and was approximately $0.5 million for the year ended December 31, 2021. There was no such amortization or accretion for the year ended December 31, 2020. No allowance for credit losses on held-to-maturity securities was required as of December 31, 2021.

The contractual maturities of our held to maturity investments as of December 31, 2021 and 2020 are summarized below (in thousands):

	December 31, 2021				December 31, 2020
	Amortized Cost Basis		Aggregate Fair Value		Amortized Cost Basis		Aggregate Fair Value
Due in one year or less⁽¹⁾	$	103,733	$	103,669	$	59,495	$	59,495
Due after one year through five years		56,619		56,433		—		—
Total	$	160,352	$	160,102	$	59,495	$	59,495

____________________________

(1)	The investments due in one year or less include cash equivalents of $23.8 million as of December 31, 2021 and $59.5 million as of December 31, 2020.

Available-for-Sale Investment — In June 2021, the Company invested $3.0 million in Thirona Bio, Inc. (“Thirona”) and received a $3.0 million convertible promissory note (as amended, the “Thirona convertible note”). Unless earlier converted into conversion shares pursuant to the note purchase agreement, the principal and accrued interest shall be due and payable by Thirona on demand by the Company at any time after the maturity date of December 31, 2023. Interest shall accrue at a rate of 6% per annum. The Thirona convertible note is a general unsecured obligation of Thirona. The Thirona convertible note is classified as an available-for-sale security and is included in other assets in the consolidated balance sheet. Available-for-sale investments are subsequently measured at fair value. Unrealized holding gains and losses are excluded from earnings and reported in other comprehensive income until realized. The Company assesses whether it has any intention to sell the investment, determines fair value of its available-for-sale investments using level 3 inputs as well as assesses whether there were other-than-temporary impairments associated with the available for sale investment. As of December 31, 2021, the Company evaluated the fair value of its investment in Thirona and determined that the fair value approximates the carrying value of $3.0 million and determined that there were no other-than-temporary impairments. In June 2021, the Company and Thirona also entered into a collaboration agreement to develop a compound for the treatment of fibrotic lung diseases. See Note 8 – Collaboration, Licensing and Other Arrangements for additional information. Subsequent to December 31, 2021, the Company invested an additional $5.0 million in Thirona and received a $5.0 million convertible promissory note.

Concentration of Credit Risk — Financial instruments that potentially subject the Company to concentration of credit risk consist of cash and cash equivalents and investments. Cash and cash equivalents are held in high credit quality institutions. Cash equivalents consist of interest-bearing money market accounts and U.S. Treasury securities with maturities less than 90 days. Investments generally consist of commercial paper, corporate notes or bonds and U.S. Treasury securities. The cash equivalents and investments are regularly monitored by management.

Accounts Receivable and Allowance for Credit Losses — Accounts receivable are recorded at the invoiced amount and are not interest bearing. Accounts receivable are presented net of an allowance for credit losses if there are estimated losses resulting from the inability of its customers to make required payments. The Company makes ongoing assumptions relating to the collectability of its accounts receivable in its calculation of the allowance for credit losses. The allowance for expected credit losses is based primarily on past collections experience relative to the length of time receivables are past due. However, when available evidence reasonably supports an assumption that future economic conditions will differ from current and historical payment collections, an adjustment is reflected in the allowance for expected credit losses. Accounts receivable are also presented net of an allowance for product returns and trade discounts and allowances because the Company’s customers have the right of setoff for these amounts against the related accounts receivable.

Accounts receivable, net consists of the following (in thousands):

	December 31,
	2021			2020
Accounts receivable – commercial
Accounts receivable, gross	$	7,939		$	8,090
Wholesaler distribution fees and prompt pay discounts		(1,696	)		(1,205	)
Reserve for returns		(2,797	)		(2,667	)
Total accounts receivable – commercial, net		3,446			4,218
Accounts receivable – collaborations and services
Accounts receivable, gross		2,060			—
Allowance for credit losses		(767	)		—
Total accounts receivable – collaborations and services, net		1,293			4,218
Accounts receivable – other		255			—
Total accounts receivable, net	$	4,994		$	4,218

As of December 31, 2021 and December 31, 2020, the allowance for credit losses was de minimis. As of December 31, 2021 and December 31, 2020, the Company had three wholesale distributors representing approximately 80% and 86% of gross sales and 79% and 90% of accounts receivable, respectively.

As of December 31, 2021, the allowance for accounts receivable – collaborations and services of $0.8 million was related to $0.8 million of accounts receivable for Vertice Pharma, a collaboration partner for the co-promotion of Thyquidity. The Company had one collaboration partner, United Therapeutics, that comprised 100% of the collaboration and services net accounts receivable as of December 31, 2021 and approximately 95% of gross revenue from collaborations and services for the year ended December 31, 2021.

Pre-Launch Inventory — An improvement to the manufacturing process for the Company’s primary excipient fumaryl diketopiperazine (“FDKP”) was demonstrated to be viable and management expects to realize an economic benefit in the future as a result of such process improvement. Accordingly, the Company is required to assess whether to capitalize inventory costs related to such excipient prior to regulatory approval of the new supplier and the improved manufacturing process. In doing so, management must consider a number of factors in order to determine the amount of inventory to be capitalized, including the historical experience of achieving regulatory approvals for the Company’s manufacturing process, feedback from regulatory agencies on the changes being effected and the amount of inventory that is likely to be used in commercial production. The shelf life of the excipient will be determined as part of the regulatory approval process; in the interim, the Company must assess the available stability data to determine whether there is likely to be adequate shelf life to support anticipated future sales occurring beyond the expected approval date of the new raw material. If management is aware of any specific material risks or contingencies other than the normal regulatory review and approval process, or if the criteria for capitalizing inventory produced prior to regulatory approval

are otherwise not met, the Company would not capitalize such inventory costs, choosing instead to recognize such costs as a research and development expense in the period incurred.

Inventories — Inventories are stated at the lower of cost or net realizable value. The Company determines the cost of inventory using the first-in, first-out, or FIFO, method. The Company capitalizes inventory costs associated with the Company’s products based on management’s judgment that future economic benefits are expected to be realized; otherwise, such costs are expensed as incurred as cost of goods sold. The Company periodically analyzes its inventory levels to identify inventory that may expire or has a cost basis in excess of its estimated realizable value and writes down such inventories, as appropriate. In addition, the Company’s products are subject to strict quality control and monitoring which the Company performs throughout the manufacturing process. If certain batches or units of product no longer meet quality specifications or may become obsolete or are forecasted to become obsolete due to expiration, the Company will record a charge to write down such unmarketable inventory to its estimated net realizable value.

The Company analyzes its inventory levels to identify inventory that may expire or has a cost basis in excess of its estimated realizable value. The Company performs an assessment of projected sales and evaluates the lower of cost or net realizable value and the potential excess inventory on hand at the end of each reporting period.

Impairment of Long-Lived Assets — The Company evaluates long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Assets are considered to be impaired if the carrying value is considered to be unrecoverable.

If the Company believes an asset to be impaired, the impairment recognized is the amount by which the carrying value of the asset exceeds the fair value of the asset. Fair value is determined using the market, income or cost approaches as appropriate for the asset. Any write-downs are treated as permanent reductions in the carrying amount of the asset and recognized as an operating loss.

In August 2019, the Company recorded a $1.5 million commitment asset and a $0.4 million other asset for deferred debt issuance costs related to the future funding commitments of the MidCap Credit Facility. A quarterly assessment was performed during the second quarter of 2020 to determine if the Company was on target to achieve certain required milestone conditions in order for the Company to access further borrowings under the MidCap Credit Facility. The Company determined that such milestone conditions related to Afrezza trailing net revenue were unlikely to be achieved. As a result, an asset impairment of $1.9 million was recognized during the second quarter of 2020 and is reflected in the Company’s consolidated statement of operations. See Note 7 – Borrowings for further information on the MidCap Credit Facility.

The Company recorded $0.1 million of asset impairments for the year ended December 31, 2021.

Recognized Loss on Purchase Commitments — The Company assesses whether losses on long-term purchase commitments should be accrued. Losses that are expected to arise from firm, non-cancellable, commitments for the future purchases are recognized unless recoverable. When making the assessment, the Company also considers whether it is able to renegotiate with its vendors. The recognized loss on purchase commitments is reduced as inventory items are received. If, subsequent to an accrual, a purchase commitment is successfully renegotiated, the gain is recognized in the Company’s consolidated statements of operations. The liability balance of the recognized loss on insulin purchase commitments as of December 31, 2021 and 2020 was $82.8 million and $95.3 million, respectively. No new contracts were identified in 2021 that required a new loss on purchase commitment accrual.

Milestone Rights Liability — In July 2013, in conjunction with the execution of a (now repaid) loan agreement with Deerfield Private Design Fund II, L.P. and Deerfield Private Design International II, L.P. (collectively, “Deerfield”), we issued the Milestone Rights to Deerfield Private Design Fund II, L.P. and Horizon Santé FLML SÀRL, (the “Milestone Purchasers”). In December 2021, the Milestone Rights were purchased by Barings Global Special Situations Credit Fund 4 (Delaware), L.P. and Barings Global Special Situations Credit 4 (LUX) S.ar.l. (together “Barings”). As a result, Barings has assumed the obligations of the Original Milestone Purchasers and is now entitled to all rights under the Milestone Agreement. As of December 31, 2021, $65.0 million remained payable pursuant to the Milestone Agreement upon achievement of sales milestones.

The initial fair value estimate of the Milestone Rights was calculated using the income approach in which the cash flows associated with the specified contractual payments were adjusted for both the expected timing and the probability of achieving the milestones and discounted to present value using a selected market discount rate. The expected timing and probability of achieving the milestones was developed with consideration given to both internal data, such as progress made to date and assessment of criteria required for achievement, and external data, such as market research studies. The discount rate was selected based on an estimation of required rate of returns for similar investment opportunities using available market data. The Milestone Rights liability will be remeasured as the specified milestone events are achieved. Specifically, as each milestone event is achieved, the portion of the initially recorded Milestone Rights liability that pertains to the milestone event being achieved, will be remeasured to the amount of the specified related milestone payment. The resulting change in the balance of the Milestone Rights liability due to remeasurement will be recorded in the Company’s consolidated statements of operations as interest expense. Furthermore, the Milestone Rights liability will be reduced upon the settlement of each milestone payment. As a result, each milestone payment would be effectively allocated between a reduction of the recorded Milestone Rights liability and an expense representing a return on a portion of the Milestone Rights liability paid to the investor for the achievement of the related milestone event (see Note 7 — Borrowings).

Fair Value of Financial Instruments —The Company applies various valuation approaches in determining the fair value of its financial assets and liabilities within a hierarchy that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the inputs that market participants would use in pricing the asset or liability and are developed based on the best information available in the circumstances. The fair value hierarchy is broken down into three levels based on the source of inputs as follows:

Level 1 — Quoted prices for identical instruments in active markets.

Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

Level 3 — Significant inputs to the valuation model are unobservable.

Income Taxes — The provisions for federal, foreign, state and local income taxes are calculated on pre-tax income based on current tax law and include the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which the temporary differences are expected to be recovered or settled. A valuation allowance is recorded to reduce net deferred income tax assets to amounts that are more likely than not to be realized.

For uncertain tax positions, the Company determines whether it is “more likely than not” that a tax position will be sustained upon examination by the appropriate taxing authorities before any part of the benefit can be recorded in the financial statements. For those tax positions where it is “not more likely than not” that a tax benefit will be sustained, no tax benefit is recognized. Penalties, if probable and reasonably estimable, are recognized as a component of income tax expense. The Company has reduced its deferred tax assets for uncertain tax positions but has not recorded liabilities for income tax expense, penalties, or interest.

Contingencies — The Company records a loss contingency for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These accruals represent management’s best estimate of probable loss. Disclosure also is provided when it is reasonably possible that a loss will be incurred or when it is reasonably possible that the amount of a loss will exceed the recorded provision. On a quarterly basis, the Company reviews the status of each significant matter and assesses its potential financial exposure. Significant judgment is required in both the determination of probability and the determination as to whether an exposure is reasonably estimable. Because of uncertainties related to these matters, accruals are based only on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability related to pending claims and litigation and may revise its estimates.

Stock-Based Compensation — Share-based payments to employees, including grants of stock options, RSUs, performance-based non-qualified stock options awards (“PNQs”), restricted stock units with market conditions (“Market RSUs”) and the compensatory elements of employee stock purchase plans, are recognized in the consolidated statements of operations based upon the fair value of the awards at the grant date. The Company uses the Black-Scholes option valuation model to estimate the grant date fair value of employee stock options and the compensatory elements of employee stock purchase plans. RSUs are valued based on the market price on the grant date. Market RSUs are valued using a Monte Carlo valuation model and RSUs with performance conditions are evaluated for the probability that the performance conditions will be met and estimates the date at which the performance conditions will be met in order to properly recognize stock-based compensation expense over the requisite service period.

Clinical Trial Expenses — Clinical trial expenses, which are primarily reflected in research and development expenses in the accompanying consolidated statements of operations, result from obligations under contracts with vendors, consultants and clinical site agreements in addition to internal costs associated with conducting clinical trials.

Net Income (Loss) Per Share of Common Stock — Basic net income or loss per share excludes dilution for potentially dilutive securities and is computed by dividing net income or loss by the weighted average number of common shares outstanding during the period. Diluted net income or loss per share reflects the potential dilution under the treasury method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For periods where the Company has presented a net loss, potentially dilutive securities are excluded from the computation of diluted net loss per share as they would be anti-dilutive.

Recently Adopted Accounting Standards — In August 2020, the FASB issued ASU 2020-06, Issuer’s Accounting for Convertible Instruments and Contracts on an Entity’s Own Equity, which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The Company adopted this standard as of January 1, 2021. The adoption of this standard did not have a material impact on the Company's consolidated financial statements.

Recently Issued Accounting Standards — From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies that are adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on the Company’s consolidated financial position or results of operations upon adoption.

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property Plant And Equipment [Abstract]

Property and Equipment, Net

Property and equipment consist of the following (in thousands):

	Estimated Useful		December 31,
	Life (Years)		2021				2020
Land		—	$	875			$	875
Buildings	39-40			17,389				17,389
Building improvements	5-40			38,651				37,543
Machinery and equipment	3-15			55,334				55,054
Furniture, fixtures and office equipment	5-10			2,969				3,004
Computer equipment and software		3		8,163				8,319
Construction in progress		—		10,892		⁽¹⁾		503
				134,273				122,687
Less accumulated depreciation				(97,661	)			(96,820	)
Total property and equipment, net			$	36,612			$	25,867

_________________________

⁽¹⁾

Construction in progress includes $4.7 million of equipment under construction for the manufacturing expansion for UT (the “UT Equipment”). The Company acts as agent on behalf of UT for the procurement of the UT Equipment. The Company has received $5.0 million in deposit for this service, which was recognized as deposit from customer in the consolidated balance sheet as of December 31, 2021. See Note 8 – Collaboration, Licensing and Other Arrangements.

Borrowings - MidCap Credit Facility - Additional Information (Detail)

1 Months Ended

12 Months Ended

Apr. 22, 2021

USD ($)

Installment

Aug. 06, 2019

Apr. 30, 2021

USD ($)

Dec. 31, 2020

Installment

$ / shares

Nov. 30, 2020

USD ($)

Installment

Dec. 31, 2019

Aug. 31, 2019

USD ($)

Installment

$ / shares

Dec. 31, 2021

USD ($)

Dec. 31, 2020

USD ($)

$ / shares

Oct. 31, 2021

Mar. 31, 2021

USD ($)

Aug. 31, 2020

USD ($)

Loss on extinguishment of debt, net

$ 17,200,000

$ 264,000

Debt instrument payment term description

Dec. 31, 2025

Nov. 03, 2024

Principal on each term loan advance under Tranche 1, Tranche 2 and, if applicable, Tranche 3 is payable in 24 equal monthly installments beginning September 1, 2023, until paid in full on August 1, 2025.

Unamortized debt discount

$ 1,167,000

On or After April 23, 2022 Through and Including April 22, 2023

Early Termination Fees Percentage

2.00%

On or Prior to April 22, 2022

Early Termination Fees Percentage

3.00%

On or After April 23, 2023 Through Maturity Date

Early Termination Fees Percentage

1.00%

Debt payable number of equal monthly installments | Installment

Prepaid of borrowing

$ 10,000,000.0

Minimum cash covenant

$ 30,000,000.0

$ 90,000,000.0

24,000,000

Debt instrument minimum unrestricted cash and short-term investments

$ 10,000,000.0

Principal prepayment against outstanding term loans

$ 10,000,000.0

Original exit fee and prepayment penalties

$ 1,000,000.0

1,000,000.0

Unamortized debt discount

400,000

Debt Instrument unamortized prepayment penalty.

$ 800,000

Interest on loans increased, percentage

2.00%

Term loan advance percentage of amount drawdown

3.25%

MidCap Credit Facility | LIBOR

MidCap Credit Facility | Minimum

^[1]

1.00%

Debt Instrument Exit Fee Percentage

6.00%

MidCap Credit Facility | Maximum

Debt Instrument Exit Fee Percentage

7.00%

Tranche 1

Debt payable number of equal monthly installments | Installment

Debt Instrument, Interest Rate, Effective Percentage

Aug. 01, 2025

8.25%

Line Of Credit Facility Principal Payment Start Date

Sep. 01, 2023

Tranche 1 | LIBOR

Debt Instrument, Basis Spread on Variable Rate

6.25%

Tranche 1 | MidCap Credit Facility

1.00%

Loss on extinguishment of debt, net

Advance of borrowing

$ 40,000,000.0

Minimum cash covenant

$ 40,000,000.0

$ 200,000

Warrants to purchase of common stock | shares

1,171,614

Exercise price of warrants | $ / shares

$ 1.11

Tranche 2

Debt payable number of equal monthly installments | Installment

Debt Instrument, Interest Rate, Effective Percentage

Aug. 01, 2025

8.25%

Line Of Credit Facility Principal Payment Start Date

Sep. 01, 2023

Tranche 2 | LIBOR

Debt Instrument, Basis Spread on Variable Rate

6.25%

Tranche 2 | MidCap Credit Facility

1.00%

Amount available under credit facility

Advance of borrowing

$ 10,000,000.0

$ 10,000,000.0

Debt discount and a de minimis amount of debt issuance costs

$ 300,000

Warrants to purchase of common stock | shares

111,853

Exercise price of warrants | $ / shares

$ 2.91

Tranche 3

Debt payable number of equal monthly installments | Installment

Debt Instrument, Interest Rate, Effective Percentage

Aug. 01, 2025

8.25%

Line Of Credit Facility Principal Payment Start Date

Sep. 01, 2023

Tranche 3 | LIBOR

Debt Instrument, Basis Spread on Variable Rate

6.25%

Tranche 3 | MidCap Credit Facility

1.00%

Amount available under credit facility

$ 60,000,000.0

$ 25,000,000.0

Debt instrument advance available date

Jun. 30, 2022

Debt instrument extended interest-only date

Sep. 01, 2023

Debt instrument payment term description

Aug. 01, 2025

On April 22, 2021, the Company entered into the seventh amendment of the MidCap credit facility, pursuant to which the parties agreed to, among other things, (i) increase the amount available under the third advance from $25.0 million to $60.0 million and extend the date through which the third advance is available to June 30, 2022, (ii) amend the conditions to the third advance of $60.0 million being available to draw, including certain milestone conditions associated with Tyvaso DPI, (iii) remove the Company’s obligation to issue a warrant to purchase shares of the Company’s common stock upon drawing down the third advance, (iv) extend the interest-only period until September 1, 2023 and extend the maturity date until August 1, 2025, (v) amend the financial covenant relating to trailing 12 month minimum Afrezza net revenue, (vi) decrease the minimum cash covenant, (vii) decrease the interest rate on any amounts outstanding, now or in the future, under the MidCap credit facility, (viii) permit the Company to make certain acquisitions, subject to requirements, and (ix) permit the Company to make investments of up to an additional $9.0 million so long as the Company has $90.0 million or more of unrestricted cash and short-term investments following such investment.

Maximum value of additional investment limit

$ 9,000,000.0

Debt instrument minimum unrestricted cash and short-term investments

$ 90,000,000.0

[1]	In April 2021, the Company prepaid $10.0 million principal balance and amended the MidCap credit facility. The interest rate prior to the amendment was one-month LIBOR (2% floor) plus 6.75% and the maturity date was in August 2024.

Stock Award Plans (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Based Award Plans

The following table summarizes information about the Company’s stock-based award plans as of December 31, 2021:

	Outstanding Options		Outstanding Restricted Stock Units		Shares Available for Future Issuance
2004 Equity Incentive Plan		206,358		—		—
2013 Equity Incentive Plan		3,639,936		2,600		—
2018 Equity Incentive Plan		6,800,852		7,606,425		5,344,810
2004 Non-Employee Directors’ Stock Option Plan		8,000		—		—
Total		10,655,146		7,609,025		5,344,810

Stock Based Compensation Expense Recognized in Accompanying Consolidated Statements of Operations by Category

Total stock-based compensation expense recognized in the accompanying consolidated statements of operations is included in the following categories (in thousands):

	Year Ended December 31,
	2021		2020
Cost of goods sold	$	407	$	446
Cost of revenue — collaborations and services		1,708		626
Research and development		614		338
Selling, general and administrative		9,471		5,101
Total	$	12,200	$	6,511

Assumptions Used to Calculate Fair Value of Employee Stock Options

The Company calculated the fair value of employee stock options granted during the year ended December 31, 2020 using the following assumptions:

	Year Ended December 31,
	2020
Risk-free interest rate	0.39% — 1.52%
Expected lives	5.67 — 7.0 years
Volatility	93.83% — 94.25%
Dividends		—

Summary of Stock Options Outstanding

The following table summarizes information relating to stock options:

	Number of Shares			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value ($000)
Outstanding at January 1, 2021		12,264,616		$	3.41		6.45	$	15,414
Granted		—			—
Exercised		(586,572	)		1.72
Forfeited		(258,410	)		1.59
Expired		(764,488	)		11.57
Outstanding at December 31, 2021		10,655,146		$	2.96		5.82	$	25,458
Exercisable at December 31, 2021		8,009,961		$	3.40		5.58	$	18,436

Summary of Restricted Stock Unit Activity

The following table summarizes information relating to restricted stock units:

	Number of Shares			Weighted Average Grant Date Fair Value per Share
Outstanding at January 1, 2021		6,037,542		$	2.20
Granted		3,326,798			5.82
Vested		(1,516,065	)		2.22
Forfeited		(239,250	)		2.58
Outstanding at December 31, 2021		7,609,025			3.77

Borrowings - Schedule of Line of Credit Facility Debt and Key Terms (Detail) - USD ($)
$ / shares in Units, $ in Millions

12 Months Ended

Dec. 31, 2021

Mar. 04, 2021

Dec. 31, 2020

Apr. 10, 2020

$ 288.4

Senior Convertible Notes

$ 230.0

2.50%

2026-03

$ 5.21

^[1]

$ 40.0

$ 50.0

MidCap Credit Facility | LIBOR

^[1]

2025-08

^[1]

6.25%

^[1]

1.00%

^[2]

4.9

0.98%

^[2]

0.98%

^[2]

2022-04

2024 Convertible Notes

^[3]

5.0

^[3]

5.75%

^[3]

2024-11

The Mann Group L L C | Convertible Promissory Note

^[3]

$ 3.00

Accrued interest paid-in-kind

$ 18.4

28.0

$ 0.4

0.6

2.50%

2025-12

The Mann Group L L C | Non Convertible Promissory Note

$ 2.50

Accrued interest paid-in-kind

35.1

$ 3.6

7.00%

2024-11

[1]	In April 2021, the Company prepaid $10.0 million principal balance and amended the MidCap credit facility. The interest rate prior to the amendment was one-month LIBOR (2% floor) plus 6.75% and the maturity date was in August 2024.
[2]	In July 2021, the Company received full forgiveness from the SBA for the $4.9 million principal balance of the PPP loan and recognized a gain on extinguishment of debt for the full principal balance and a de minimis amount of accrued but unpaid interest.
[3]	In February 2021, the $5.0 million principal balance was converted into 1,666,667 shares of the Company’s common stock.

Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current
Non-U.S.		$ (218)
Total current		(218)
Deferred
U.S. federal	$ (5,170)	(4,377)
U.S. state	(14,461)	(469)
Total deferred	(19,631)	(4,846)
Valuation allowance	19,631	4,846
Total	$ 0	$ (218)

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Collaboration, Licensing and Other Arrangements

12 Months Ended

Dec. 31, 2021

Collaboration, Licensing and Other Arrangements

8. Collaboration, Licensing and Other Arrangements

Revenue from collaborations and services for the years ended December 31, 2021 and 2020 are as follows (in thousands):

	Year Ended December 31,
	2021		2020
UT License Agreement	$	34,145	$	32,213
UT CSA Agreement		267		—
Vertice Pharma Co-Promotion Agreement		1,147		—
Receptor CLA		245		250
Cipla License and Distribution Agreement		147		147
Other		323		—
UT Research Agreement		—		210
Total revenue from collaborations and services	$	36,274	$	32,820

The activity related to deferred revenue and the related revenue recognized for collaborations and services is as follows (in thousands):

	December 31,
	2021			2020
Deferred revenue:
Beginning balance	$	34,937		$	40,847
Additions		21,707			1,910
Upfront and milestone payments		—			25,000
Revenue — collaborations and services		(36,274	)		(32,820	)
Ending balance	$	20,370		$	34,937

United Therapeutics License Agreement — In September 2018, the Company and UT entered into an exclusive global license and collaboration agreement (the “UT License Agreement”), pursuant to which UT is responsible for global development, regulatory and commercial activities with respect to Tyvaso DPI. The Company is responsible for manufacturing clinical supplies and commercial supplies of Tyvaso DPI.

Under the terms of the UT License Agreement, the Company received an upfront payment of $45.0 million in October 2018 and four $12.5 million milestone payments between April 2019 and November 2020. The Company will also be entitled to receive low double-digit royalties on net sales of Tyvaso DPI as well as a manufacturing margin on commercial supplies of the product. UT, at its option, may expand the scope of the products covered by the UT License Agreement to include products with certain other active ingredients for the treatment of pulmonary arterial hypertension. Each such optioned product would be subject to UT’s payment to the Company of up to $40.0 million in additional option exercise and development milestone payments, as well as a low double-digit royalty on net sales of any such product.

At the inception of the agreement, the Company identified one distinct, performance obligation. The Company determined that the key deliverables include the license, supply of product to be used in clinical development, and certain research services upon achievement of specified development targets (“R&D Services”). Due to the specialized and unique nature of these services and their direct relationship with the license, the Company has determined that these deliverables represent one distinct bundle and thus, one performance obligation. The Company also determined that UT’s option to expand the scope of the products to include products with other active ingredients is not a material right, and thus, not a performance obligation at the onset of the agreement. The consideration for the option will be accounted for upon exercise of the option.

The Company expected to complete the activities specified in the initial development plan and to achieve the milestone events by December 31, 2021 for total consideration of approximately $105.8 million, which included an upfront payment, four milestone payments, various pass-through costs and payments for clinical supplies. Revenue was allocated as follows:

Distinct Performance Obligation

Transaction Price

Allocation of Price

Recognition Method

Progress Measure

Recognition Period

(in millions)

R&D Services and License

105.8

100%

Over time

Ratably

Sep 2018 - Dec 2021

⁽¹⁾

(1)	Recognition period represents the estimated period to satisfy the performance obligation.

In May 2021, UT and the Company updated the development plan under the UT License Agreement to provide for additional process-development and stability-testing activities as well as the expansion of the Company’s commercial manufacturing capacity. The activities and deliverables under the current development plan resulted in four distinct performance obligations which include: (1) the continued development and approval process for an NDA (“R&D Services”); (2) certain pre-commercial services in preparation for commercial launch of Tyvaso DPI “(Pre-Commercial Services”); (3) development activities for the next generation of Tyvaso DPI (“Next-Gen R&D Services”); and (4) certain design and construction activities in anticipation of expansion of the Company’s commercial manufacturing facility (“Facility Expansion Services”).

The total consideration for the updated development plan of $50.9 million was allocated to the four distinct performance obligations based on management’s assessment of the stand-alone selling price of each performance obligation. Revenue was allocated as follows:

Description

Transaction Price

Allocation of Price⁽¹⁾

Recognition Method

Progress Measure

Revenue

Recognition

(in millions)

Total transaction price

50.9

Distinct Performance Obligation

R&D Services and License

18.4

Over time

Ratably

May 2021 - Oct 2021

⁽²⁾

Pre-Commercial Services

4.6

Over time

Input

% of completion of costs

⁽³⁾

Next-Gen R&D Services

7.2

Over time

Input

% of completion of costs

⁽³⁾

Facility Expansion Services⁽⁴⁾

20.7

Point in time

Transfer of control

⁽⁵⁾

(1)	Allocation is based on management’s assessment of the stand-alone selling price of each performance obligation.

(2)	Represents the estimated period when the R&D Services performance obligation will be substantially complete.

(3)

Pre-Commercial Services and Next-Gen R&D Services performance obligations will be satisfied over time using the input method based on the costs incurred to date as a percentage of the total estimated costs to fulfill the contract. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer.

(4)

The Company also acts as agent for the procurement of equipment for the manufacturing expansion for the UT Equipment. The Company received $5.0 million from UT for the UT Equipment, which was recognized as deposits from customer on the consolidated balance sheet and will be released as the title is transferred to UT.

(5)	The Facility Expansion Services performance obligation would be recognized as control of manufactured products is transferred to the customer.

On August 12, 2021, the Company and UT entered into a commercial supply agreement (the “CSA”), pursuant to which the Company is responsible for manufacturing and supplying to UT, and UT is responsible for purchasing from the Company on a cost-plus basis, Tyvaso DPI and BluHale inhalation profiling devices, as required for commercial distribution and sale by UT. In addition, UT is responsible for supplying treprostinil at its expense in quantities necessary to enable the Company to manufacture Tyvaso DPI as required by the CSA. Also pursuant to the CSA, UT will remit a reimbursement of certain pre-production costs incurred by the Company to support the manufacturing and supply of Tyvaso DPI.

The activities and deliverables under the CSA and the current development plan resulted in three distinct performance obligations which include: (1) the license, supply of product to be used in clinical development, and continued development and approval support for Tyvaso DPI (“R&D Services and License”); (2) development activities for the next generation of Tyvaso DPI Next-Gen R&D Services; and (3) a material right associated with future commercial manufacturing and supply of product (“Manufacturing Services”).

The total revised anticipated cash flows of $221.5 million from the transaction was allocated to the three distinct performance obligations as follows.

Anticipated

Description

Cash Flow

Revenue Allocation⁽¹⁾

Recognition Method

Progress Measure

Revenue

Recognition

(in millions)

Total anticipated cash flow

221.5

Distinct Performance Obligation

R&D Services and License⁽²⁾

6.0

Over time

Ratably

Aug 2021 - Oct 2021

⁽³⁾

Next-Gen R&D Services

8.8

Over time

Input

% of completion of costs

⁽⁴⁾

Manufacturing Services

206.7

Point in time

Transfer of control

⁽⁵⁾

(1)	Allocation is based on management’s assessment of the stand-alone selling price of each performance obligation.

(2)

The license for the Company’s IP was considered to be interdependent with the development activities to support approval of Tyvaso DPI. A sales-based royalty is promised in exchange for the IP license; therefore, the royalties associated with the license are excluded from the determination of the transaction price and the Company will recognize revenue as the sale of Tyvaso DPI to a patient occurs.

(3)	Represents the estimated period when the R&D Services performance obligation will be substantially complete.

(4)

The Next-Gen R&D Services performance obligation will be satisfied over time using the input method based on the costs incurred to date as a percentage of the total estimated costs to fulfill the contract. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer.

(5)

The Manufacturing Services performance obligation will be recognized as control of manufactured products is transferred to the customer; therefore, no revenue associated with this obligation was recognized during the year ended December 31, 2021. The allocation of transaction price includes a material right related to manufacturing services. The total anticipated cash flow is based on the Company’s estimated production and the ultimate cash flows may vary as manufacturing purchase orders are received.

As amended by an amendment dated October 16, 2021, the term of the CSA continues until December 31, 2031 (unless earlier terminated) and is thereafter renewed automatically for additional, successive two-year terms unless (i) United Therapeutics provides notice to the Company at least 24 months in advance of such renewal that United Therapeutics does not wish to renew the CSA or (ii) the Company provides notice to United Therapeutics at least 48 months in advance of such renewal that the Company does not wish to renew the CSA. The Company and United Therapeutics each have normal and customary termination rights, including termination for material breach that is not cured within a specific timeframe or in the event of liquidation, bankruptcy or insolvency of the other party.

The Company accounted for the contract modification as if it were part of the existing contract since the amendment modified the scope and price of the CSA by extending the term and increasing the occupancy rate. The effect of the modification on the transaction price and on the measure of progress is recognized as an adjustment to revenue as of the date of the modification. The modification did not result in a change the activities and deliverables under the CSA.

Anticipated

Description

Cash Flow

Revenue Allocation⁽¹⁾

Recognition Method

Progress Measure

Revenue

Recognition

(in millions)

Total anticipated cash flow⁽²⁾

463.5

Distinct Performance Obligation

R&D Services and License⁽³⁾

—

Over time

Ratably

Aug 2021 - Oct 2021

⁽⁴⁾

Next-Gen R&D Services⁽⁵⁾

4.8

Over time

Input

% of completion of costs

⁽⁶⁾

Manufacturing Services⁽⁷⁾

458.7

Point in time

Transfer of control

⁽⁸⁾

(1)	Allocation is based on management’s assessment of the stand-alone selling price of each performance obligation.

(2)	The total anticipated cash flow includes a transaction price of $64.3 million for the contractual obligations under the CSA for the Manufacturing Services and the Next-Gen R&D Services performance obligations and $399.2 million for future supply of Tyvaso DPI over the remaining term of the CSA.

(3)

(4)	Represents the period when the revenue for the R&D Services performance obligation was recognized.

(5)

The standalone selling price (“SSP”) for the Next-Gen R&D Services performance obligation was based on industry ratios as well as the Company’s historical R&D projects. The transaction price for the Next-Gen R&D Services was based on fixed consideration which was allocated between performance obligations as discussed in note (2) above.

(6)

(7)

Pre-production activities under the CSA, such as facility expansion services and certain other administrative services, were considered bundled services that are part of the Company’s Manufacturing Services performance obligation, given the nature of the Company’s contractual responsibilities and ASC 606 requirements.

(8)

The Manufacturing Services performance obligation will be recognized as control of manufactured products is transferred to the customer. The modification did not result in a cumulative catch-up adjustment as a result of the revenue being deferred for the performance obligations that were affected by the modification. The allocation of transaction price includes a material right related to manufacturing services in the amount of $144.5 million. The total anticipated cash flow is based on the Company’s estimated production and the ultimate cash flows may vary as manufacturing purchase orders are received.

As of December 31, 2021, deferred revenue consisted of $18.6 million, of which $0.6 million was classified as current and $18.0 million was classified as long-term on the consolidated balance sheet.

Vertice Pharma Co-Promotion Agreement — In December 2020, the Company entered into a co-promotion agreement with Vertice Pharma where the Company’s sales force will promote Thyquidity to adult endocrinologists, pediatric endocrinologists and other healthcare providers who treat hypothyroidism. Following the commercial launch of Thyquidity, in consideration of the sales and promotional activities provided by the Company’s sales force, Vertice Pharma is obligated to pay fixed quarterly payments to the Company, as well as variable consideration based on gross profits resulting from all sales of Thyquidity. Vertice Pharma launched Thyquidity in collaboration with the Company in February 2021.

At inception of the agreement, the Company identified a single performance obligation that the Company will satisfy over time. The Company estimates the total transaction price is approximately $6.3 million, consisting of fixed consideration and the unconstrained amount of estimated variable consideration, which is based on gross profit applied to defined revenue benchmarks. The amount of variable consideration is constrained to the amount for which it is probable that a significant reversal of cumulative revenue recognized will not occur and the payments will be received. At the end of each subsequent reporting period, the Company re-evaluates the estimated variable consideration included in the transaction price and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis in the period of adjustment. The total transaction price will be recognized over a two-year period. the period over which the Company is required to satisfy its performance obligation, using the input method based on the costs incurred to date as a percentage of the total estimated costs to fulfill the contract. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. In July 2021, the Company and Vertice Pharma entered into an amendment to the Vertice Pharma Co-Promotion Agreement that modifies the terms of payment where 50% of the previously fixed consideration will be subject to certain promotional conditions, resulting in variable consideration.

In September 2021, the Company and Vertice Pharma mutually agreed that the Company would cease promotional activities under the co-promotion agreement effective September 30, 2021, other than certain transitional activities that continued until October 15, 2021. The Company and Vertice Pharma are currently negotiating a final settlement of all obligations related to the termination of the co-promotion agreement.

As of December 31, 2021, the Company fully reserved $0.8 million of revenue from the co-promotion of Thyquidity, which was recognized as allowance for credit losses – collaborations and services, which is included in accounts receivable, net in the consolidated balance sheet. In addition, the Company recognized an impairment on contract assets of $0.1 million related to variable consideration from gross profits which was recognized during the year ended December 31, 2021.

Thirona Collaboration Agreement — In June 2021, the Company and Thirona entered into a collaboration agreement to evaluate the therapeutic potential of Thirona’s compound for the treatment of pulmonary fibrosis. If initial studies are promising, the Company can exercise certain rights to seek a full license to the compound for clinical development and commercialization. The parties will perform their respective obligations and provide reasonable support for research, clinical development and regulatory strategy. The collaboration agreement will be accounted for under ASC 808, Collaborative Agreements; however, no consideration will be exchanged between the parties. The Company will expense the costs incurred as research and development in the consolidated statements of operations.

Biomm Supply and Distribution Agreement — In May 2017, the Company and Biomm S.A. (“Biomm”) entered into a supply and distribution agreement for the commercialization of Afrezza in Brazil. Under this agreement, Biomm was responsible for pursuing regulatory approvals of Afrezza in Brazil, including from the ANVISA and, with respect to pricing matters, from the Camara de Regulação de Mercado de Medicamentos (“CMED”), both of which have now been received. Biomm commenced product sales in January 2020. During the year ended December 31, 2020, the Company sold $0.2 million of product to Biomm. No shipments of product were made to Biomm during the year ended December 31, 2021.

Cipla License and Distribution Agreement — In May 2018, the Company and Cipla Ltd. (“Cipla”) entered into an exclusive agreement for the marketing and distribution of Afrezza in India and the Company received a $2.2 million nonrefundable license fee. Under the terms of the agreement, Cipla is responsible for obtaining regulatory approvals to distribute Afrezza in India and for all marketing and sales activities of Afrezza in India. The Company is responsible for supplying Afrezza to Cipla. The Company has the potential to receive an additional regulatory milestone payment, minimum purchase commitment revenue and royalties on Afrezza sales in India once cumulative gross sales have reached a specified threshold.

The nonrefundable licensing fee was recorded in deferred revenue and is being recognized in net revenue – collaborations over 15 years, representing the estimated period to satisfy the performance obligation. The additional milestone payments represent variable consideration for which the Company has not recognized any revenue because of the uncertainty of obtaining marketing approval. As of December 31, 2021, the deferred revenue balance was $1.7 million, of which $0.1 million is classified as current and $1.6 million is classified as long term in the consolidated balance sheets.

AMSL Distribution Agreement — In May 2019, the Company entered into an exclusive marketing and distribution agreement with Australasian Medical & Scientific Ltd. (“AMSL”) for the commercialization of Afrezza in Australia. Under the terms of this agreement, AMSL is responsible for obtaining regulatory and reimbursement approvals to distribute Afrezza in Australia. On August 1, 2021, Dexcom, Inc. acquired all of the outstanding shares of AMSL. As a result, on November 4, 2021, the Company exercised its right under the marketing and distribution agreement to terminate such agreement.

Earnings Per Common Share ("EPS")

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Common Share ("EPS")

11. Earnings per Common Share (“EPS”)

Basic EPS excludes dilution for potentially dilutive securities and is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution under the treasury method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. For periods where the Company has presented a net loss, potentially dilutive securities are excluded from the computation of diluted EPS as they would be antidilutive.

The following tables summarize the components of the basic and diluted EPS computations (in thousands, except per share amounts):

	Year Ended December 31,
	2021			2020
EPS — basic and diluted:
Net loss (numerator)	$	(80,926	)	$	(57,240	)
Weighted average common shares (denominator)		249,244			222,585
Net loss per share	$	(0.32	)	$	(0.26	)

Common shares issuable represents incremental shares of common stock which consist of stock options, restricted stock units, warrants, and shares that could be issued upon conversion of the Senior convertible notes and the Mann Group convertible notes.

Potentially dilutive securities outstanding that are considered antidilutive are summarized as follows (in shares):

	Year Ended December 31,
	2021		2020
Senior convertible notes		44,120,463		—
Common stock options and PNQs		10,655,146		12,264,616
Mann Group convertible notes		7,370,000		11,200,000
Warrants associated with MidCap credit facility		—		1,283,467
2024 convertible notes		—		1,666,667
RSUs and Market RSUs⁽¹⁾		7,609,025		6,037,542
Employee stock purchase plan		243,375		292,981
Total shares		69,998,009		32,745,273

_________________________


(1)	Market RSUs are included at the maximum share delivery percentage.

Collaboration, Licensing and Other Arrangements (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Revenue from Collaboration and Services

Revenue from collaborations and services for the years ended December 31, 2021 and 2020 are as follows (in thousands):

	Year Ended December 31,
	2021		2020
UT License Agreement	$	34,145	$	32,213
UT CSA Agreement		267		—
Vertice Pharma Co-Promotion Agreement		1,147		—
Receptor CLA		245		250
Cipla License and Distribution Agreement		147		147
Other		323		—
UT Research Agreement		—		210
Total revenue from collaborations and services	$	36,274	$	32,820

Schedule of Deferred Revenue Related to Revenue Recognized for Collaborations and Services

The activity related to deferred revenue and the related revenue recognized for collaborations and services is as follows (in thousands):

	December 31,
	2021			2020
Deferred revenue:
Beginning balance	$	34,937		$	40,847
Additions		21,707			1,910
Upfront and milestone payments		—			25,000
Revenue — collaborations and services		(36,274	)		(32,820	)
Ending balance	$	20,370		$	34,937

Schedule of Revenue Allocation, Remaining Performance Obligation, Expected Timing of Satisfaction

Revenue was allocated as follows:

Distinct Performance Obligation

Transaction Price

Allocation of Price

Recognition Method

Progress Measure

Recognition Period

(in millions)

R&D Services and License

105.8

100%

Over time

Ratably

Sep 2018 - Dec 2021

⁽¹⁾

(1)	Recognition period represents the estimated period to satisfy the performance obligation.

Description

Transaction Price

Allocation of Price⁽¹⁾

Recognition Method

Progress Measure

Revenue

Recognition

(in millions)

Total transaction price

50.9

Distinct Performance Obligation

R&D Services and License

18.4

Over time

Ratably

May 2021 - Oct 2021

⁽²⁾

Pre-Commercial Services

4.6

Over time

Input

% of completion of costs

⁽³⁾

Next-Gen R&D Services

7.2

Over time

Input

% of completion of costs

⁽³⁾

Facility Expansion Services⁽⁴⁾

20.7

Point in time

Transfer of control

⁽⁵⁾

(1)	Allocation is based on management’s assessment of the stand-alone selling price of each performance obligation.

(2)	Represents the estimated period when the R&D Services performance obligation will be substantially complete.

(3)

(4)

(5)	The Facility Expansion Services performance obligation would be recognized as control of manufactured products is transferred to the customer.

Schedule of Revised Anticipated Cash Flows from Transactions Allocated Performance Obligations

Anticipated

Description

Cash Flow

Revenue Allocation⁽¹⁾

Recognition Method

Progress Measure

Revenue

Recognition

(in millions)

Total anticipated cash flow

221.5

Distinct Performance Obligation

R&D Services and License⁽²⁾

6.0

Over time

Ratably

Aug 2021 - Oct 2021

⁽³⁾

Next-Gen R&D Services

8.8

Over time

Input

% of completion of costs

⁽⁴⁾

Manufacturing Services

206.7

Point in time

Transfer of control

⁽⁵⁾

(1)	Allocation is based on management’s assessment of the stand-alone selling price of each performance obligation.

(2)

(3)	Represents the estimated period when the R&D Services performance obligation will be substantially complete.

(4)

(5)

Schedule of Effect of Modification on Transaction Price

Anticipated

Description

Cash Flow

Revenue Allocation⁽¹⁾

Recognition Method

Progress Measure

Revenue

Recognition

(in millions)

Total anticipated cash flow⁽²⁾

463.5

Distinct Performance Obligation

R&D Services and License⁽³⁾

—

Over time

Ratably

Aug 2021 - Oct 2021

⁽⁴⁾

Next-Gen R&D Services⁽⁵⁾

4.8

Over time

Input

% of completion of costs

⁽⁶⁾

Manufacturing Services⁽⁷⁾

458.7

Point in time

Transfer of control

⁽⁸⁾

(1)	Allocation is based on management’s assessment of the stand-alone selling price of each performance obligation.

(2)	The total anticipated cash flow includes a transaction price of $64.3 million for the contractual obligations under the CSA for the Manufacturing Services and the Next-Gen R&D Services performance obligations and $399.2 million for future supply of Tyvaso DPI over the remaining term of the CSA.

(3)

(4)	Represents the period when the revenue for the R&D Services performance obligation was recognized.

(5)

(6)

(7)

(8)

Accrued Expenses and Other Current Liabilities

12 Months Ended

Dec. 31, 2021

Payables And Accruals [Abstract]

Accrued Expenses and Other Current Liabilities

6. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities are comprised of the following (in thousands):

	December 31,
	2021		2020
Salary and related expenses	$	14,022	$	11,250
Discounts and allowances for commercial product sales		4,227		3,688
Accrued interest		2,166		519
Deferred lease liability		1,380		1,422
Current portion of milestone rights liability		1,088		1,337
Professional fees		895		533
Retail inventory purchase		875		—
Danbury facility buildout		786		—
Other		1,980		958
Accrued expenses and other current liabilities	$	27,419	$	19,707

Borrowings

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Borrowings

7. Borrowings

Carrying amount of borrowings consist of the following (in thousands):

	December 31,
	2021		2020
Senior convertible notes	$	223,944	$	—
Mann Group promissory notes⁽¹⁾		18,425		63,027
MidCap credit facility		38,833		49,335
2024 convertible notes		—		5,000
PPP Loan		—		4,873
Total debt — net carrying amount	$	281,202	$	122,235

(1)

The following table provides a summary of the Company’s debt and key terms:

Amount Due

Terms

December 31, 2021

December 31,

2020

Annual Interest Rate

Maturity Date

Conversion Price

Senior convertible notes

$230.0 million

—

2.50%

March 2026

$5.21

per share

MidCap credit facility⁽¹⁾

$40.0 million

$50.0 million

one-month

LIBOR (1% floor)

plus 6.25%

(1)

August 2025

(1)

N/A

Mann Group convertible note

$18.4 million (plus $0.4 million accrued interest paid-in-kind)

$28.0 million (plus $0.6 million accrued interest paid-in-kind)

2.50%

(2)

December 2025

(2)

$2.50

per share

Mann Group non-convertible note⁽³⁾

—

$35.1 million (plus $3.6 million accrued interest paid-in-kind)

7.00%

November 2024

N/A

PPP loan⁽⁴⁾

—

$4.9 million

0.98%

April 2022

N/A

2024 convertible notes⁽⁵⁾

—

$5.0 million

5.75%

November 2024

$3.00

per share

(1)	In April 2021, the Company prepaid $10.0 million principal balance and amended the MidCap credit facility. The interest rate prior to the amendment was one-month LIBOR (2% floor) plus 6.75% and the maturity date was in August 2024.

(2)	In April 2021, the Mann Group convertible note was amended. The interest rate prior to the amendment was 7.00% and the maturity date was in November 2024.

(3)	In April 2021, the Company prepaid $35.1 million principal balance as well as accrued unpaid interest.

(4)	In July 2021, the Company received full forgiveness from the SBA for the $4.9 million principal balance of the PPP loan and recognized a gain on extinguishment of debt for the full principal balance and a de minimis amount of accrued but unpaid interest.

(5)	In February 2021, the $5.0 million principal balance was converted into 1,666,667 shares of the Company’s common stock.

The maturities of our borrowings as of December 31, 2021 are as follows (in thousands):

	Amounts
2022	$	—
2023		6,667
2024		20,000
2025		31,758
Thereafter		230,000
Total principal payments		288,425
Unamortized discount		(1,167	)
Debt issuance costs		(6,056	)
Total debt	$	281,202

Senior convertible notes – On March 4, 2021, the Company issued $200.0 million aggregate principal amount of Senior convertible notes in a private offering. Pursuant to an option to purchase additional senior convertible notes in the purchase agreement between the Company and the initial purchasers of the Senior convertible notes, the Company issued an additional $30.0 million aggregate principal amount of Senior convertible notes on March 15, 2021. The Senior convertible notes were issued pursuant to an indenture, dated March 4, 2021 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee.

The Senior convertible notes are general unsecured obligations of the Company and will mature on March 1, 2026, unless earlier converted, redeemed or repurchased. The Senior convertible notes will bear cash interest from March 4, 2021 at an annual rate of 2.50% payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2021. The Senior convertible notes are convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding December 1, 2025, only under the following circumstances: (1) during any calendar quarter commencing after the calendar quarter ending on June 30, 2021 (and only during such calendar quarter), if the last reported sale price of the Company’s common stock, par value $0.01 per share, for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price for the Senior convertible notes on each applicable trading day; (2) during the five business day period after any ten consecutive trading day period in which the trading price (as defined in the Indenture) per $1,000 principal amount of the Senior convertible notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Common Stock and the conversion rate on each such trading day; (3) if the Company calls such Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date, but only with respect to the Senior convertible notes called (or deemed called) for redemption; or (4) upon the occurrence of specified corporate events as set forth in the Indenture. On or after December 1, 2025 until the close of business on the business day immediately preceding the maturity date, holders may convert all or any portion of their Notes at any time, regardless of the foregoing circumstances. Upon conversion, the Company will pay or deliver, as the case may be, cash, shares of the Common Stock or a combination of cash and shares of Common Stock, at the Company’s election, in the manner and subject to the terms and conditions provided in the Indenture.

The initial conversion rate is 191.8281 shares of Common Stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $5.21 per share of Common Stock). The initial conversion price of the Senior convertible notes represents a premium of approximately 30% to the last reported sale price of the Common Stock on the Nasdaq Global Market on March 1, 2021. The conversion rate for the Senior convertible notes is subject to adjustment under certain circumstances in accordance with the terms of the Indenture, but will not be adjusted for any accrued and unpaid interest. In addition, following certain corporate events that occur prior to the maturity date of the Senior convertible notes or if the Company delivers a notice of redemption in respect of the Senior convertible notes, the Company will, in certain circumstances, increase the conversion rate of the Senior convertible notes for a holder who elects to convert its Senior convertible notes in connection with such a corporate event or convert its Notes called for redemption during the related redemption period (as defined in the Indenture), as the case may be.

The Company may not redeem the Senior convertible notes prior to March 6, 2024. The Company may redeem for cash all or any portion of the Senior convertible notes, at its option, on or after March 6, 2024 and prior to the 36th scheduled trading day immediately preceding the maturity date, if the last reported sale price of Common Stock has been at least 130% of the conversion price for the Senior convertible notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the Senior convertible notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If the Company elects to redeem less than all of the outstanding Senior convertible notes, at least $75.0 million aggregate principal amount of Senior convertible notes must be outstanding and not subject to redemption as of the relevant redemption notice date. No sinking fund is provided for the Senior convertible notes.

If the Company undergoes a fundamental change (as defined in the Indenture), then, subject to certain conditions and except as described in the Indenture, holders may require the Company to repurchase for cash all or any portion of their Notes at a fundamental change repurchase price equal to 100% of the principal amount of the Senior convertible notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date.

The Indenture includes customary covenants and sets forth certain events of default after which the Senior convertible notes may be declared immediately due and payable.

If certain bankruptcy and insolvency-related events of default involving the Company (and not just any of its significant subsidiaries) occur, 100% of the principal of and accrued and unpaid interest on the Senior convertible notes will automatically become due and payable. If an event of default with respect to the Senior convertible notes, other than certain bankruptcy and insolvency-related events of default involving the Company (and not just any of its significant subsidiaries), occurs and is continuing, the trustee, by notice to the Company, or the holders of at least 25% in principal amount of the outstanding Senior convertible notes by notice to the Company and the trustee, may, and the trustee at the request of such holders shall, declare 100% of the principal of and accrued and unpaid interest, if any, on all the Senior convertible notes to be due and payable. Notwithstanding the foregoing, the Indenture provides that, to the extent the Company so elects, the sole remedy for an event of default relating to certain failures by the Company to comply with certain reporting covenants in the Indenture will, for the first 365 days after the occurrence of such an event of default consist exclusively of the right to receive additional interest on the Senior convertible notes as set forth in the Indenture.

The Indenture provides that the Company shall not consolidate with or merge with or into, or sell, convey, transfer or lease all or substantially all of the consolidated properties and assets of the Company and its subsidiaries, taken as a whole, to, another person (other than any such sale, conveyance, transfer or lease to one or more of the Company’s direct or indirect wholly owned subsidiaries), unless: (i) the resulting, surviving or transferee person (if not the Company) is a corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia, and such corporation (if not the Company) expressly assumes by supplemental indenture all of the Company’s obligations under the Senior convertible notes and the Indenture; and (ii) immediately after giving effect to such transaction, no default or event of default has occurred and is continuing under the Indenture.

The Company’s net proceeds from the Offering were approximately $222.7 million, after deducting the initial purchasers’ discounts and commissions and the estimated Offering expenses payable by the Company. As of December 31, 2021, the unamortized debt issuance cost was $6.1 million.

MidCap credit facility — In August 2019, the Company entered into the MidCap credit facility and borrowed the first advance of $40.0 million (“Tranche 1”) in August 2019 and the second advance of $10.0 million (“Tranche 2”) in December 2020. In April 2021, $10.0 million was prepaid. Under the terms of the MidCap credit facility, a third advance of $60.0 million (“Tranche 3”) will be available to the Company between January 1, 2022 and June 30, 2022, subject to the satisfaction of certain milestone conditions associated with Tyvaso DPI through the Company’s collaboration with United Therapeutics (see Note 8 – Collaboration, Licensing and Other Arrangements).

In December 2019, the Company entered into the first amendment to the MidCap credit facility, pursuant to which the parties agreed to (i) amend the financial covenant relating to trailing twelve month minimum Afrezza Net Revenue (as defined in the MidCap credit facility) requirements, (ii) add a condition to the third advance that requires the Company achieve certain amounts of Afrezza Net Revenue, and (iii) increase the exit fee from 6.00% to 7.00% of the principal amount of all term loans advanced to the Company under the MidCap credit facility.

In August 2020, the Company entered into the second amendment to the MidCap credit facility, pursuant to which the parties agreed that no breach of the minimum Afrezza net revenue covenant for any trailing twelve-month reporting period between July 31, 2020 and November 30, 2020 will be deemed to occur if the Company delivers satisfactory evidence that it had unrestricted cash of at least $40.0 million. Without this amendment, the Company would have been in violation of the minimum Afrezza net revenue covenant as of September 30, 2020.

In November 2020, the Company entered into the third amendment to the MidCap credit facility, pursuant to which the parties agreed to (i) amend the conditions to draw Tranche 2, which had become unavailable, such that the advance became available and was, in fact, funded to the Company on December 1, 2020, (ii) amend the conditions to Tranche 3 such that the third advance was available upon the satisfaction of certain conditions, including certain milestone conditions associated with Tyvaso DPI, (iii) add a covenant that requires the marketing of Tyvaso DPI if the third advance is funded, (iv) amend the financial covenant relating to trailing twelve month minimum Afrezza Net Revenue (as defined in the MidCap credit facility) requirements, (v) increase the minimum cash covenant to $30.0 million at all times, (vi) extend the interest only period until September 1, 2022, at which time principal on each term loan advance is payable in 24 equal monthly installments, and (vii) amend the prepayment fees.

In connection with the extension of the interest only period for the $40.0 million drawn under Tranche 1, a $0.2 million loss on extinguishment was recognized in the consolidated statements of operations for the year ended December 31, 2020. The funding of $10.0 million under Tranche 2 resulted in the recognition of approximately $0.3 million of debt discount and a de minimis amount of debt issuance costs.

In December 2020, the Company entered into the fourth and fifth amendments to the MidCap credit facility. Pursuant to the fourth amendment, MidCap consented to the acquisition by the Company of QrumPharma, Inc. Pursuant to the omnibus joinder and fifth amendment, QrumPharma was joined as a borrower to the MidCap credit facility and to certain related financing documents.

In March 2021 the Company entered into the sixth amendment to the MidCap credit facility to accommodate the issuance of the Senior convertible notes.

Tranche 1, Tranche 2 and, if borrowed, Tranche 3, each accrue interest at an annual rate equal to the lesser of (i) 8.25% and (ii) the one-month LIBOR (subject to a one-month LIBOR floor of 1.00%) plus 6.25%. Interest on each term loan advance is due and payable monthly in arrears. Principal on each term loan advance under Tranche 1, Tranche 2 and, if applicable, Tranche 3 is payable in 24 equal monthly installments beginning September 1, 2023, until paid in full on August 1, 2025. The Company has the option to prepay its existing term loans, in whole or in part, subject to early termination fees in an amount equal to 3.00% of principal prepaid if prepayment occurs on or prior to April 22, 2022; 2.00% of principal prepaid if prepayment occurs on or after April 23, 2022 through and including April 22, 2023; and 1.00% of principal prepaid if prepayment occurs on or after April 23, 2023 through the maturity date. Tranche 3 will be subject to a similar scheme of early termination fees measured from the anniversary of the funding date for such tranche, if ever.

The prepayment penalty of $1.0 million related to the payment of $10.0 million was capitalized and will be amortized over the remaining life of the debt. As of December 31, 2021, the unamortized debt discount was $0.4 million and the unamortized prepayment penalty was $0.8 million.

The Company’s obligations under the MidCap credit facility are secured by a security interest on substantially all of its assets, including intellectual property.

The MidCap credit facility, as amended, contains customary affirmative covenants and customary negative covenants limiting the Company’s ability and the ability of the Company’s subsidiaries to, among other things, dispose of assets, undergo a change in control, merge or consolidate, make acquisitions, incur debt, incur liens, pay dividends, repurchase stock and make investments, in each case subject to certain exceptions. The Company must also comply with a financial covenant relating to trailing twelve month minimum Afrezza net revenue, tested on a monthly basis, unless the Company has $90.0 million or more of unrestricted cash and short-term investments. The Company is also subject to a minimum cash covenant of $10.0 million at all times; however, this covenant will be eliminated in the event that Tyvaso DPI is approved by the FDA. As of December 31, 2021, the Company was in compliance with the financial and minimum cash covenants.

The MidCap credit facility also contains customary events of default relating to, among other things, payment defaults, breaches of covenants, a material adverse change, listing of the Company’s common stock, bankruptcy and insolvency, cross defaults with certain material indebtedness and certain material contracts, judgments, and inaccuracies of representations and warranties. Upon an event of default, the agent and the lenders may declare all or a portion of the Company’s outstanding obligations to be immediately due and payable and exercise other rights and remedies provided for under the MidCap credit facility. During the existence of an event of default, interest on the term loans could be increased by 2.00%.

The Company also agreed to issue warrants to purchase shares of the Company’s common stock (the “MidCap warrants”) upon the drawdown of Tranches 1 and 2 in an aggregate amount equal to 3.25% of the amount drawn, divided by the exercise price per share for that tranche. The exercise price per share is equal to the volume-weighted average closing price of the Company’s common stock for the ten business days immediately preceding the second business day before the issue date. As a result of Tranche 1, the Company issued warrants to purchase an aggregate of 1,171,614 shares of the Company’s common stock, at an exercise price equal to $1.11 per share. As a result of Tranche 2, the Company issued warrants to purchase an aggregate of 111,853 shares of the Company’s common stock, at an exercise price equal to $2.91 per share. The Company determined that these warrants met the criteria for equity classification and accounted for such warrants in additional paid-in capital. During the year ended December 31, 2021, the Tranche 1 and Tranche 2 MidCap warrants were exercised in full.

Mann Group promissory notes — In August 2019, the Company issued a $35.0 million note that is convertible into shares of the Company’s common stock at $2.50 per share (the “Mann Group convertible note”) and issued a non-convertible note to Mann Group in an aggregate principal amount of $35.1 million (the “Mann Group non-convertible note” and, together with the Mann Group convertible note, the “Mann Group promissory notes”) as part of a restructuring of its then existing indebtedness to Mann Group.

The Mann Group promissory notes each accrued interest at the rate of 7.00% per year on the principal amount, payable quarterly in arrears on the first day of each calendar quarter beginning October 1, 2019. On April 22, 2021, the Company and Mann Group entered into an amendment of the Mann Group convertible note, pursuant to which the parties agreed to (i) reduce the interest rate from 7.0% to 2.5% effective on April 22, 2021, and (ii) extend the maturity date from November 3, 2024 to December 31, 2025.

The amendment to the Mann Group convertible note resulted in a debt extinguishment with a substantial premium based on the fair value post extinguishment. The fair value in excess of the face amount of $18.4 million contributed to a loss on extinguishment of $22.1 million in the consolidated statement of operations for year ended December 31, 2021 and resulted in a corresponding debt premium of $22.1 million which was recognized as additional paid-in capital in the consolidated balance sheet as of December 31, 2021. The accounting for the $22.1 million loss on extinguishment did not result in a change in the financial position of the Company. The Company wrote off a de minimis amount of debt issuance cost.

The principal and any accrued and unpaid interest under the Mann Group convertible note may be converted, at the option of Mann Group, at any time on or prior to the close of business on the business day immediately preceding the stated maturity date, into shares of the Company’s common stock at a conversion rate of 400 shares per $1,000 of principal and/or accrued and unpaid interest, which is equal to a conversion price of $2.50 per share. The conversion rate will be subject to adjustment under certain circumstances described in the Mann Group convertible note. Interest on the convertible note will be payable in kind by adding the amount thereof to the principal amount; provided that with respect to interest accruing from and after January 1, 2021, the Company may, at its option, elect to pay any such interest on any interest payment date, if certain conditions are met, in shares of the Company’s common stock at a price per shall equal to the last reported sale price on the trading day immediately prior to the payment date.

Pursuant to the terms of the Mann Group convertible note, Mann Group converted $3.0 million of accrued interest and $7.0 million of principal into 1.2 million shares and 2.8 million shares, respectively, of the Company’s common stock in the fourth quarter of 2020. During the year ended December 31, 2021, Mann Group converted $0.4 million of interest and $9.6 million of principal into 4,000,000 shares of common stock.

On April 22, 2021, the Company repaid the entire principal amount of $35.1 million outstanding under the Mann Group non-convertible note, together with all accrued and unpaid interest thereon.

PPP loan – On April 10, 2020, the Company received the proceeds from the PPP loan from JPMorgan Chase Bank, N.A., as lender, in the amount of approximately $4.9 million pursuant to the PPP of the CARES Act. On July 28, 2021, the Company received notification from the SBA that the full principal amount of the PPP loan was forgiven. The Company recognized a $4.9 million gain on extinguishment of debt for the forgiveness of the principal amount and accrued but unpaid interest for the year ended December 31, 2021.

Prior to being forgiven, the PPP loan was evidenced by a promissory note dated April 9, 2020 that matured on April 9, 2022 and bore interest at a rate of 0.98% per annum (which was being deferred). The Company used all proceeds from the PPP loan to retain employees, maintain payroll and make lease, interest and utility payments.

2024 convertible notes — In August 2019, the Company issued 5.75% convertible senior subordinated exchange notes due November 2024 (the “2024 convertible notes”) pursuant to an indenture, dated as of August 6, 2019, between the Company and U.S. Bank National Association, as trustee (the “2019 Indenture”). The 2024 convertible notes were the Company’s general, unsecured obligations, and were subordinated in right of payment to the indebtedness incurred pursuant to the MidCap credit facility. The 2024 convertible notes ranked equally in right of payment with the Company’s other unsecured senior debt. The 2024 convertible notes accrued interest at the rate of 5.75% per year on the principal amount, payable semiannually in arrears on February 15 and August 15 of each year, beginning February 15, 2020, with interest accruing from August 6, 2019. Interest on the 2024 convertible notes was payable in cash or, at the option of the Company if certain conditions are met, in shares of the Company’s common stock at a price per share equal to the last reported sale price on the trading day immediately prior to the interest payment date.

The 2024 convertible notes were convertible, at the option of the holder, at any time on or prior to the close of business on the business day immediately preceding the stated maturity date, into shares of the Company’s common stock at a conversion rate of 333.3333 shares per $1,000 principal amount of 2024 convertible notes, which is equal to a conversion price of approximately $3.00 per share.

In February 2021, the Company converted the $5.0 million 2024 convertible notes with the issuance of 1,666,667 shares of the Company’s common stock.

Amortization of the premium and accretion of debt issuance costs related to all borrowings for the years ended December 31, 2021 and 2020 are as follows (in thousands):

	Year Ended December 31,

	2021		2020
Amortization of debt discount		377		268
Amortization of debt issuance cost		1,215		101

Milestone Rights — As of December 31, 2021 and 2020, the remaining Milestone Rights liability balance was $5.9 million and $7.3 million, respectively, which was based on initial fair value estimates calculated using the income approach and reduced by milestone achievement payments made. During the first quarter of 2021, the Company achieved the second Afrezza net sales milestone specified by the Milestone Rights. The milestone carrying value of the Milestone Rights liability related to the $5.0 million payment, which was made in the second quarter of 2021, was approximately $1.3 million, which represented the fair value as determined in 2013 (the most recent measurement date).

The Milestone Rights Agreement includes customary representations and warranties and covenants by the Company, including restrictions on transfers of intellectual property related to Afrezza. The Milestone Rights are subject to acceleration in the event the Company transfers its intellectual property related to Afrezza in violation of the terms of such agreement.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Award Plans - Stock Based Award Plans (Detail) - shares	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Options	10,655,146	12,264,616
Outstanding Restricted Stock Units	7,609,025	6,037,542
Shares Available for Future Issuance	5,344,810
2004 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Options	206,358
2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Options	3,639,936
Outstanding Restricted Stock Units	2,600
2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Options	6,800,852
Outstanding Restricted Stock Units	7,606,425
Shares Available for Future Issuance	5,344,810
2004 Non Employee Directors Stock Option Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding Options	8,000

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 124,184	$ 67,005
Restricted cash		158
Short-term investments	79,932
Accounts receivable, net	4,994	4,218
Inventory	7,152	4,973
Prepaid expenses and other current assets	3,482	3,122
Total current assets	219,744	79,476
Property and equipment, net	36,612	25,867
Long-term investments	56,619
Other assets	8,186	3,265
Total assets	321,161	108,608
Current liabilities:
Accounts payable	6,956	5,582
Accrued expenses and other current liabilities	27,419	19,707
Financing liability — current	6,977
Paycheck Protection Program loan — current		4,061
Deferred revenue — current	827	33,275
Recognized loss on purchase commitments — current	6,170	11,080
Total current liabilities	48,349	73,705
Promissory notes	18,425	63,027
Accrued interest — promissory notes	404	4,150
Financing liability — long term	93,525
Long-term Midcap credit facility	38,833	49,335
Senior convertible notes	223,944
Recognized loss on purchase commitments — long term	76,659	84,208
Operating lease liability	1,040	1,202
Deferred revenue — long term	19,543	1,662
Milestone rights liability	4,838	5,926
2024 convertible notes		5,000
Paycheck Protection Program loan — long term		812
Deposits from customer	4,950
Total liabilities	530,510	289,027
Commitments and contingencies (Note 13)
Stockholders' deficit:
Undesignated preferred stock, $0.01 par value — 10,000,000 shares authorized; no shares issued or outstanding at December 31, 2021 and 2020
Common stock, $0.01 par value — 400,000,000 shares authorized, 251,477,562 and 242,117,089 shares issued and outstanding at December 31, 2021 and 2020, respectively	2,515	2,421
Additional paid-in capital	2,918,205	2,866,303
Accumulated deficit	(3,130,069)	(3,049,143)
Total stockholders' deficit	(209,349)	(180,419)
Total liabilities and stockholders' deficit	$ 321,161	$ 108,608

Stock Award Plans - Stock Based Compensation Expense Recognized in Accompanying Consolidated Statements of Operations by Category (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 12,200	$ 6,511
Cost of Goods Sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	407	446
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	614	338
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	9,471	5,101
Cost of Revenue - Collaborations and Services
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation	$ 1,708	$ 626

Borrowings - Senior Convertible Notes - Additional Information (Detail)			1 Months Ended	12 Months Ended
	Apr. 22, 2021	Mar. 04, 2021 USD ($) d $ / shares	Aug. 31, 2019	Dec. 31, 2021 USD ($) d $ / shares	Mar. 15, 2021 USD ($)	Dec. 31, 2020 $ / shares
Debt Instrument [Line Items]
Principal amount				$ 288,400,000
Maturity date	Dec. 31, 2025		Nov. 03, 2024
Common stock, par value \| $ / shares				$ 0.01		$ 0.01
Proceeds from offering after deducting initial purchasers discounts and commissions and estimated offering expenses payable				$ 230,000,000
Senior Convertible Notes
Debt Instrument [Line Items]
Principal amount				$ 230,000,000
Maturity date				Mar. 01, 2026
Annual interest rate				2.50%
Common stock, par value \| $ / shares				$ 0.01
Number of trading days \| d		20		20
Consecutive trading days \| d		30		30
Conversion price percentage		130.00%		130.00%
Principal amount per share \| $ / shares		$ 1,000		$ 1,000
Measurement period percentage				98.00%
Conversion price \| $ / shares		$ 5.21		$ 5.21
Initial conversion price of premium percentage		30.00%
No of convertible shares		191.8281
Redemption period start date		Mar. 06, 2024
Redemption price percentage		100.00%
Sinking fund		$ 0
Debt instrument redemption description				The Company may redeem for cash all or any portion of the Senior convertible notes, at its option, on or after March 6, 2024 and prior to the 36th scheduled trading day immediately preceding the maturity date, if the last reported sale price of Common Stock has been at least 130% of the conversion price for the Senior convertible notes then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the principal amount of the Senior convertible notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If the Company elects to redeem less than all of the outstanding Senior convertible notes, at least $75.0 million aggregate principal amount of Senior convertible notes must be outstanding and not subject to redemption as of the relevant redemption notice date. No sinking fund is provided for the Senior convertible notes.
Percentage of repurchase price		100.00%
Debt default, description				If certain bankruptcy and insolvency-related events of default involving the Company (and not just any of its significant subsidiaries) occur, 100% of the principal of and accrued and unpaid interest on the Senior convertible notes will automatically become due and payable. If an event of default with respect to the Senior convertible notes, other than certain bankruptcy and insolvency-related events of default involving the Company (and not just any of its significant subsidiaries), occurs and is continuing, the trustee, by notice to the Company, or the holders of at least 25% in principal amount of the outstanding Senior convertible notes by notice to the Company and the trustee, may, and the trustee at the request of such holders shall, declare 100% of the principal of and accrued and unpaid interest, if any, on all the Senior convertible notes to be due and payable. Notwithstanding the foregoing, the Indenture provides that, to the extent the Company so elects, the sole remedy for an event of default relating to certain failures by the Company to comply with certain reporting covenants in the Indenture will, for the first 365 days after the occurrence of such an event of default consist exclusively of the right to receive additional interest on the Senior convertible notes as set forth in the Indenture
Proceeds from offering after deducting initial purchasers discounts and commissions and estimated offering expenses payable		$ 222,700,000
Unamortized debt issuance cost		6,100,000
Senior Convertible Notes \| Minimum
Debt Instrument [Line Items]
Outstanding principal amount redeemed		75,000,000.0
Senior Convertible Notes \| Private Placement
Debt Instrument [Line Items]
Principal amount		$ 200,000.0			$ 30,000.0

Borrowings - Mann Group Promissory Notes - Additional Information (Detail) $ / shares in Units, $ in Thousands, shares in Millions		1 Months Ended			3 Months Ended	12 Months Ended
	Apr. 22, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jan. 31, 2021 USD ($) shares	Aug. 31, 2019 USD ($) $ / shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) shares
Debt Instrument [Line Items]
Principal amount						$ 288,400
Debt instrument payment term description						Principal on each term loan advance under Tranche 1, Tranche 2 and, if applicable, Tranche 3 is payable in 24 equal monthly installments beginning September 1, 2023, until paid in full on August 1, 2025.
Maturity date	Dec. 31, 2025			Nov. 03, 2024
Loss on extinguishment of debt, net						$ 17,200	$ 264
Debt issuance amount		$ 230,000
The Mann Group L L C \| Promissory Notes
Debt Instrument [Line Items]
Debt instrument fair value in excess of face amount						18,400
Loss on extinguishment of debt, net						22,100
Debt premium recognized in additional paid-in capital						22,100
The Mann Group L L C \| Convertible Promissory Note
Debt Instrument [Line Items]
Principal amount					$ 28,000	$ 18,400	28,000
Senior notes, effective interest rate						2.50%
Terms \| $ / shares						$ 2.50
Debt issuance amount			$ 9,600		$ 7,000	$ 9,600	$ 7,000
Conversion of notes to common shares, shares \| shares			4.0		2.8	4,000,000.0	2.8
Repayments of debt	$ 35,100
The Mann Group L L C \| Convertible Promissory Note \| Accrued Interest
Debt Instrument [Line Items]
Debt issuance amount						$ 400	$ 3,000
Conversion of notes to common shares, shares \| shares							1.2
The Mann Group L L C \| Promissory Notes
Debt Instrument [Line Items]
Loss on extinguishment of debt, net						22,100
Debt premium recognized in additional paid-in capital						$ 22,100
The Mann Group L L C \| New Loan Arrangement \| Convertible Promissory Note
Debt Instrument [Line Items]
No of convertible shares				400
Principal amount per share \| $ / shares				$ 1,000
Terms \| $ / shares				$ 2.50
The Mann Group L L C \| New Loan Arrangement \| Promissory Notes
Debt Instrument [Line Items]
Senior notes, effective interest rate	2.50%			7.00%
Debt instrument payment term description							quarterly
Debt instrument, date of first required interest payment				Oct. 01, 2019
The Mann Group L L C \| Privately Negotiated Exchange Agreement \| Loan Arrangement
Debt Instrument [Line Items]
Common stock price per share \| $ / shares				$ 2.50
The Mann Group L L C \| Privately Negotiated Exchange Agreement \| Loan Arrangement \| Convertible Promissory Note
Debt Instrument [Line Items]
Principal amount				$ 35,000
The Mann Group L L C \| Privately Negotiated Exchange Agreement \| Loan Arrangement \| Non-Convertible Note
Debt Instrument [Line Items]
Principal amount				$ 35,100

Schedule of Revenue from Collaborations and Services (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total revenue from collaborations and services	$ 75,442	$ 65,144
Collaborations and services
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total revenue from collaborations and services	36,274	32,820
Collaborations and services \| License Agreement \| United Therapeutics Corporation
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total revenue from collaborations and services	34,145	32,213
Collaborations and services \| Commercial Supply Agreement \| United Therapeutics Corporation
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total revenue from collaborations and services	267
Collaborations and services \| Co-Promotion Agreement \| Vertice Pharma LLC
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total revenue from collaborations and services	1,147
Collaborations and services \| Collaboration and License Agreement \| Receptor CLA
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total revenue from collaborations and services	245	250
Collaborations and services \| License and Distribution Agreement \| Cipla Ltd
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total revenue from collaborations and services	147	147
Collaborations and services \| Other
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total revenue from collaborations and services	$ 323
Collaborations and services \| Research Agreement \| United Therapeutics Corporation
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Total revenue from collaborations and services		$ 210

Collaboration, Licensing and Other Arrangements - Additional Information (Detail 1) - USD ($) $ in Millions	Dec. 31, 2021	May 31, 2018
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Anticipated Revenue Allocation	$ 50.9
Co-Promotion Agreement \| Vertice Pharma LLC
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Anticipated Revenue Allocation	$ 6.3
Co-Promotion Agreement \| Vertice Pharma LLC \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Deferred revenue recognition period	2 years
License and Distribution Agreement \| Cipla Ltd \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2018-06-01
Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]
Deferred revenue recognition period		15 years
Anticipated Revenue Allocation		$ 2.2

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Undesignated preferred stock, par value	$ 0.01	$ 0.01
Undesignated preferred stock, shares authorized	10,000,000	10,000,000
Undesignated preferred stock, shares issued	0	0
Undesignated preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	251,477,562	242,117,089
Common stock, shares outstanding	251,477,562	242,117,089

Earnings Per Common Share ("EPS") - Potential Dilutive Securities Outstanding that are Considered Antidilutive (Detail) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	69,998,009	32,745,273
Senior Convertible Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	44,120,463
Common Stock Options and PNQs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	10,655,146	12,264,616
Mann Group Convertible Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	7,370,000	11,200,000
Warrants Associated with MidCap Credit Facility
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share		1,283,467
Convertible Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share		1,666,667
Employee Stock Purchase Plan
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	243,375	292,981
RSUs and Market RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of earnings per share	7,609,025	6,037,542

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Total revenues	$ 75,442	$ 65,144
Expenses:
Cost of goods sold	16,833	15,084
In-process research and development		13,233
Research and development	12,312	6,248
Selling, general and administrative	77,417	59,040
Impairment of assets	106	1,889
(Gain) loss on foreign currency translation	6,567	(8,006)
Loss on purchase commitments	(339)
Total expenses	122,464	113,057
Loss from operations	(47,022)	(47,913)
Other (expense) income:
Interest income	112	167
Interest expense on financing liability	(1,373)
Interest expense on notes	(15,204)	(9,471)
Loss on extinguishment of debt	(17,200)	(264)
Other (expense) income	(239)	23
Total other expense	(33,904)	(9,545)
Loss before income tax expense	(80,926)	(57,458)
Benefit from income taxes	0	218
Net loss	$ (80,926)	$ (57,240)
Net loss per share — basic and diluted	$ (0.32)	$ (0.26)
Shares used to compute net loss per share — basic and diluted	249,244	222,585
Commercial product sales
Revenues:
Total revenues	$ 39,168	$ 32,324
Collaborations and services
Revenues:
Total revenues	36,274	32,820
Expenses:
Cost of revenue	$ 22,024	$ 9,557

Stock Award Plans

12 Months Ended

Dec. 31, 2021

Stock Award Plans

12. Stock Award Plans

On May 16, 2018, the Company adopted the 2018 Equity Incentive Plan (the “2018 Plan”) as the successor to and continuation of the 2013 Equity Incentive Plan (the “2013 Plan”). The 2018 Plan initially consisted of 12,000,000 new shares plus the number of unallocated shares remaining available for grant for new awards under the 2013 Plan. In May 2020, the 2018 Plan was amended to increase the number of shares of common stock that may be issued under the 2018 Plan by 12,500,000 shares.

Effective upon the approval of the 2018 Plan by the Company’s stockholders in May 2018, no additional awards have been or may be granted under the 2013 Plan. Any Prior Plans’ returning shares will increase the number of shares issuable under the 2018 Plan. The Prior Plans’ returning shares are shares subject to outstanding stock awards granted under the 2013 Plan or the 2004 Equity Incentive Plan (collectively, “Prior Plans”) that, from and after the effective date of the 2018 Plan, (i) expire or terminate for any reason prior to exercise or settlement, (ii) are forfeited, cancelled or otherwise returned to the Company because of the failure to meet a contingency or condition required for the vesting of such shares, or (iii) other than with respect to outstanding stock options and stock appreciation rights granted under the Prior Plans with an exercise or strike price of at least 100% of the fair market value of the underlying common stock on the date of grant, are reacquired or withheld (or not issued) by the Company to satisfy a tax withholding obligation in connection with a stock award.

The 2018 Plan provides for the granting of stock awards including stock options and restricted stock units to employees, directors and consultants.

The Company’s board of directors or its compensation committee determines eligibility, vesting schedules and criteria, and exercise prices for stock awards granted under the 2018 Plan. Options and restricted stock unit awards under the 2018 Plan, or the Prior Plans expire not more than ten years from the date of the grant and are exercisable upon vesting. Stock options that vest over time generally vest over four years. Current time-based vesting stock option grants vest and become exercisable at the rate of 25% after one year and ratably on a monthly basis over a period of 36 months thereafter. The Company also issues PNQ awards with performance conditions. For PNQs, the Company evaluates the probability that the performance conditions will be met and estimates the service period for recognition of the associated expense. RSUs with time-based vesting generally vest at a rate of 25% per year over four years with consideration satisfied by service to the Company. Certain RSUs issued to nonemployee directors vest immediately upon grant, but the underlying shares of common stock will not be delivered until there is a separation of service such as resignation, retirement or death. The Company also issued Market RSUs. The grant date fair value and the effect of the market conditions was estimated using a Monte Carlo valuation.

Market RSUs issued during the year ended December 31, 2021 had a grant date fair value of $9.30 per share and will vest on May 17, 2024 provided that the closing price of the Company’s common stock on such vesting date is not less than the closing price on May 17, 2021. The fair value of the Market RSUs was determined using a share price of $4.26, risk-free interest rate of 0.34%, volatility of 88%, and a dividend yield of 0%. The number of shares delivered on the vesting date is determined by the percentile ranking of MannKind total shareholder return (TSR) over the period from May 18, 2021 until May 17, 2024 related to the TSR of the Russell 3000 Pharmaceutical & Biotechnology Index over the same period, as follows: less than 25th percentile=0% of target, 25th percentile=50% of target, 50th percentile=100% of target, 75th percentile=200% percent of target, 90th percentile or higher=300% maximum. Payout values will be interpolated between the percentile rankings above. The resulting stock-based compensation expense will be recognized over the service period regardless of whether the market conditions are achieved, as long as the service condition is rendered.

The following table summarizes information about the Company’s stock-based award plans as of December 31, 2021:

	Outstanding Options		Outstanding Restricted Stock Units		Shares Available for Future Issuance
2004 Equity Incentive Plan		206,358		—		—
2013 Equity Incentive Plan		3,639,936		2,600		—
2018 Equity Incentive Plan		6,800,852		7,606,425		5,344,810
2004 Non-Employee Directors’ Stock Option Plan		8,000		—		—
Total		10,655,146		7,609,025		5,344,810

Share-based payment transactions are recognized as compensation cost based on the fair value of the instrument on the date of grant. The Company uses the Black-Scholes option valuation model to estimate the grant date fair value of employee stock options. The expected term of an option granted is based on combining historical exercise data with expected weighted time outstanding. Expected weighted time outstanding is calculated by assuming the settlement of outstanding awards is at the midpoint between the remaining weighted average vesting date and the expiration date. The Company recognizes forfeitures as they occur. During the years ended December 31, 2021 and 2020, the Company recorded RSU and option based stock compensation expense of $11.5 million, $6.2 million and employee stock purchase plan compensation of $0.7 million and $0.3 million, respectively.

Total stock-based compensation expense recognized in the accompanying consolidated statements of operations is included in the following categories (in thousands):

	Year Ended December 31,
	2021		2020
Cost of goods sold	$	407	$	446
Cost of revenue — collaborations and services		1,708		626
Research and development		614		338
Selling, general and administrative		9,471		5,101
Total	$	12,200	$	6,511

The expected volatility assumption used in the Company’s Black-Sholes option valuation model is based on an assessment of the historical volatility derived from an analysis of historical trade activity. The Company has selected risk-free interest rates based on U.S. Treasury securities with an equivalent expected term in effect on the date the options were granted. Additionally, the Company uses historical data and management judgment to estimate stock option exercise behavior and employee turnover rates to estimate the number of stock option awards that will eventually vest. There were no options issued in the year ended December 31, 2021. The Company calculated the fair value of employee stock options granted during the year ended December 31, 2020 using the following assumptions:

	Year Ended December 31,
	2020
Risk-free interest rate	0.39% — 1.52%
Expected lives	5.67 — 7.0 years
Volatility	93.83% — 94.25%
Dividends		—

The following table summarizes information relating to stock options:

	Number of Shares			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value ($000)
Outstanding at January 1, 2021		12,264,616		$	3.41		6.45	$	15,414
Granted		—			—
Exercised		(586,572	)		1.72
Forfeited		(258,410	)		1.59
Expired		(764,488	)		11.57
Outstanding at December 31, 2021		10,655,146		$	2.96		5.82	$	25,458
Exercisable at December 31, 2021		8,009,961		$	3.40		5.58	$	18,436

There were no stock options granted in the year ended December 31, 2021. The weighted average grant date fair value of the stock options granted during the year ended December 31, 2020 was $0.97. Total fair value of stock options vested during the years ended December 31, 2021 and 2020 was $2.3 million and $4.5 million, respectively. The total intrinsic value of options exercised during the years ended

December 31, 2021 and 2020 was $1.7 million and $0.5 million, respectively. Intrinsic value is measured using the fair market value at the date of exercise for options exercised or at December 31 for outstanding options, less the applicable exercise price.

Cash received from the exercise of options during the years ended December 31, 2021 and December 31, 2020 was approximately $1.0 million and $0.6 million, respectively.

As of December 31, 2021 and 2020, the Company recognized a $0.1 million and $0.2 million, respectively, of compensation costs related to the performance-based stock options. As of December 31, 2021 and 2020, there was $0.3 million and $0.4 million, respectively of unrecognized compensation costs related to performance-based stock options subject to performance conditions.

The following table summarizes information relating to restricted stock units:

	Number of Shares			Weighted Average Grant Date Fair Value per Share
Outstanding at January 1, 2021		6,037,542		$	2.20
Granted		3,326,798			5.82
Vested		(1,516,065	)		2.22
Forfeited		(239,250	)		2.58
Outstanding at December 31, 2021		7,609,025			3.77

Total fair value of restricted stock units vested during the years ended December 31, 2021 and 2020 was $6.7 million and $2.5 million, respectively. Intrinsic value of restricted stock units vested is measured using the closing share price on the day prior to the vest date. The total grant date fair value of restricted stock units outstanding as of December 31, 2021 and 2020 was $19.3 million and $13.3 million, respectively.

As of December 31, 2021, there was $2.1 million of unrecognized compensation expense related to options and PNQs and $21.1 million of unrecognized compensation expense related to restricted stock units and market based stock units, which are expected to be recognized over the weighted average period of 1.32 to 2.59 years. The Company evaluates stock awards with performance conditions as to the probability that the performance conditions will be met and uses that information to estimate the date at which those performance conditions will be met in order to properly recognize stock-based compensation expense over the requisite service period.

Employee Stock Purchase Plan

The Company provides all employees, including executive officers, the ability to purchase our common stock at a discount under our 2004 employee stock purchase plan (the “ESPP”). The ESPP is designed to comply with Section 423 of the Internal Revenue Code (“IRC”) and provides all employees with the opportunity to purchase up to $25,000 worth of our common stock (based on the undiscounted fair market value at the commencement of the offering period) each year at a purchase price that is the lower of 85% of the fair market value of the common stock on either the date of purchase or the commencement of the offering period. An employee may not purchase more than 5,000 shares of common stock on any purchase date. The executives’ rights under the ESPP are identical to those of all other employees.

The Company issued 0.5 million and 0.6 million shares of common stock pursuant to the ESPP for the years ended December 31, 2021 and 2020, respectively. There were approximately 1.1 million shares of common stock available for issuance under the ESPP as of December 31, 2021.

Inventories - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Inventory [Line Items]
Inventory write-offs	$ 1,902	$ 496
Pre-launch Inventory
Inventory [Line Items]
Raw materials inventory	800	$ 800
Agreement With Retail Pharmacy
Inventory [Line Items]
Inventory write-offs	$ 700

Employee Benefit Plans

12 Months Ended

Dec. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plans

14. Employee Benefit Plans

The Company administers a defined contribution 401(k) savings retirement plan for its employees. The Company may make discretionary matching contributions. For the year ended December 31, 2021, the Company matched each participant’s deferral at the rate of 50% of each participant’s deferral up to the first 10% of compensation. Participants hired after March 31, 2021 became vested in Company contributions at 100% after two years of service. For the year ended December 31, 2020, the Company matched each participant’s deferral at the rate of 50% of each participant’s deferral up to the first 6% of compensation. Participants are vested in Company contributions at 50% after one year of service and are 100% vested after two years of service.

The Company’s total discretionary matching contributions were $1.5 million and $0.9 million for the years ended December 31, 2021 and 2020, respectively.

The entire disclosure for retirement benefits.

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Loss from Continuing Operations Before Provision for Income Taxes

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Loss from continuing operations before provision for income taxes for the Company’s domestic and international operations was as follows (in thousands):

	Year Ended December 31,
	2021			2020
United States	$	(80,926	)	$	(57,458	)
Foreign		—			—
Loss before provision for income taxes	$	(80,926	)	$	(57,458	)

Provision for Income Taxes

The provision for income taxes consists of the following (in thousands):

	Year Ended December 31,
	2021			2020
Current
U.S. federal	$	—		$	—
U.S. state		—			—
Non-U.S.		—			(218	)
Total current		—			(218	)
Deferred
U.S. federal		(5,170	)		(4,377	)
U.S. state		(14,461	)		(469	)
Non-U.S.		—			—
Total deferred		(19,631	)		(4,846	)
Valuation allowance		19,631			4,846
Total	$	—		$	(218	)

Components of Net Deferred Tax Assets

Components of the net deferred tax assets as of December 31, 2021 and 2020, are approximately as follows (in thousands):

	December 31,
	2021			2020
Deferred tax assets:
Net operating loss carryforwards	$	542,800		$	533,448
Research and development credits		78,804			79,455
Milestone Rights		1,440			1,547
Accrued expenses		2,591			1,436
Loss on purchase commitment		24,845			23,864
Non-qualified stock option expense		5,684			3,766
Capitalized patent costs		7,518			5,273
Other		2,568			2,093
Lease liability		588			559
Interest expense limitation		5,696			2,460
Depreciation		22,983			20,735
Deferred Product Revenue & Costs		404			1,569
Total net deferred tax assets		695,921			676,205
Valuation allowance		(695,094	)		(675,463	)
Net deferred tax assets	$	827		$	742

Deferred tax liabilities:
Right of use asset	$	(555	)	$	(510	)
Other prepaids		(272	)		(232	)
Total deferred tax liabilities		(827	)		(742	)
Net deferred tax assets	$	—		$	—

Effective Tax Rate

The Company’s effective tax rate differs from the statutory federal income tax rate as follows for the years ended December 31, 2021 and 2020:

	Year Ended December 31,
	2021			2020
Federal tax benefit rate		21.0	%		21.0	%
Permanent items		-4.4	%		-6.1	%
Stock based compensation		0.3	%		-0.5	%
Tax attribute expirations		-5.9	%		-6.6	%
Foreign withholding tax		0.0	%		0.4	%
Valuation allowance		-11.2	%		-7.8	%
Other		0.2	%		0.0	%
Effective income tax rate		0.0	%		0.4	%

Summary of Positions for which Significant Change in Unrecognized Tax Benefits

A reconciliation of beginning and ending amounts of unrecognized tax benefits in 2021 and 2020, respectively, was as follows (in thousands):

	Year Ended December 31,
	2021		2020
Unrecognized Tax Benefit
Beginning of Year	$	268,902	$	—
Gross increases for tax positions of prior years		—		268,902
Gross decreases for tax positions of current year		—		—
Settlements		—		—
Lapse of statute of limitations		—		—
End of Year	$	268,902	$	268,902

Summary of Significant Accounting Policies - Schedule of Contractual Maturities of Held to Maturity Investments (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Held To Maturity Securities [Line Items]
Cash and cash equivalents	$ 124,184	$ 67,005
Due in One Year or Less
Schedule Of Held To Maturity Securities [Line Items]
Cash and cash equivalents	$ 23,800	$ 59,500

Earnings Per Common Share ("EPS") - Components of Basic and Diluted EPS Computations (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
EPS — basic and diluted:
Net loss (numerator)	$ (80,926)	$ (57,240)
Weighted average common shares (denominator)	249,244	222,585
Net loss per share	$ (0.32)	$ (0.26)

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Stock Award Plans - Summary of Stock Options Outstanding (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Number of Shares
Outstanding at January 1, 2021	12,264,616
Exercised	(586,572)
Forfeited	(258,410)
Expired	(764,488)
Outstanding at December 31, 2021	10,655,146	12,264,616
Exercisable at December 31, 2021	8,009,961
Weighted Average Exercise Price per Share
Outstanding at January 1, 2021	$ 3.41
Exercised	1.72
Forfeited	1.59
Expired	11.57
Outstanding at December 31, 2021	2.96	$ 3.41
Exercisable at December 31, 2021	$ 3.40
Weighted Average Remaining Contractual Term (Years)
Outstanding	5 years 9 months 25 days	6 years 5 months 12 days
Exercisable at December 31, 2021	5 years 6 months 29 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding	$ 25,458	$ 15,414
Exercisable at December 31, 2021	$ 18,436

Property and Equipment, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property and equipment - gross	$ 122,687	$ 134,273
Less accumulated depreciation	(96,820)	(97,661)
Total property and equipment, net	25,867	36,612
Land
Property Plant And Equipment [Line Items]
Property and equipment - gross	875	875
Buildings
Property Plant And Equipment [Line Items]
Property and equipment - gross	$ 17,389	17,389
Buildings \| Minimum
Property Plant And Equipment [Line Items]
Estimated Useful Life (Years)	39 years
Buildings \| Maximum
Property Plant And Equipment [Line Items]
Estimated Useful Life (Years)	40 years
Building Improvements
Property Plant And Equipment [Line Items]
Property and equipment - gross	$ 37,543	38,651
Building Improvements \| Minimum
Property Plant And Equipment [Line Items]
Estimated Useful Life (Years)	5 years
Building Improvements \| Maximum
Property Plant And Equipment [Line Items]
Estimated Useful Life (Years)	40 years
Machinery and Equipment
Property Plant And Equipment [Line Items]
Property and equipment - gross	$ 55,054	55,334
Machinery and Equipment \| Minimum
Property Plant And Equipment [Line Items]
Estimated Useful Life (Years)	3 years
Machinery and Equipment \| Maximum
Property Plant And Equipment [Line Items]
Estimated Useful Life (Years)	15 years
Furniture, fixtures and office equipment
Property Plant And Equipment [Line Items]
Property and equipment - gross	$ 3,004	2,969
Furniture, fixtures and office equipment \| Minimum
Property Plant And Equipment [Line Items]
Estimated Useful Life (Years)	5 years
Furniture, fixtures and office equipment \| Maximum
Property Plant And Equipment [Line Items]
Estimated Useful Life (Years)	10 years
Computer Equipment and Software
Property Plant And Equipment [Line Items]
Property and equipment - gross	$ 8,319	8,163
Estimated Useful Life (Years)	3 years
Construction in Progress
Property Plant And Equipment [Line Items]
Property and equipment - gross	$ 503	$ 10,892

Stock Award Plans - Additional Information (Detail) - USD ($)		12 Months Ended
	May 17, 2021	Dec. 31, 2021	Dec. 31, 2020	May 31, 2020	May 16, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation		$ 12,200,000	$ 6,511,000
Options issued or granted		0
Weighted average grant date fair value of the stock options granted			$ 970,000
Weighted average grant date fair value of the stock options vested		$ 2,300,000	$ 4,500,000
Total intrinsic value of options exercised		$ 1,700,000	$ 500,000
Cash received from the exercise of options		1,000,000.0	600,000
Total fair value of restricted stock units vested		6,700,000	2,500,000
Total grant date fair value of restricted stock units outstanding		19,300,000	13,300,000
Issuance of common stock under Employee Stock Purchase Plan		1,090,000	684,000
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock under Employee Stock Purchase Plan		$ 5,000	$ 6,000
Issuance of common stock under Employee Stock Purchase Plan (in shares)		527,000	627,000
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available for issuance		1,100,000
Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock under Employee Stock Purchase Plan		$ 25,000
Issuance of common stock under Employee Stock Purchase Plan (in shares)		5,000
Employee \| ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount on purchase price percentage of fair market value		8500.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		10 years
Unrecognized compensation expense, weighted average period for recognition		2 years 7 months 2 days
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Unrecognized compensation expense, weighted average period for recognition		1 year 3 months 25 days
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		36 months
Vesting rights percentage		25.00%
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
Restricted Stock \| Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights percentage		25.00%
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value per share		$ 9.30
Vesting date		May 17, 2024
Common stock price per share	$ 4.26
Risk-free interest rate	0.34%
Volatility	88.00%
Dividend yield	0.00%
Unrecognized compensation expense related to non-option		$ 21,100,000
RSUs \| Less than 25th Percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentile		25.00%
Percent of target		0.00%
RSUs \| 25th Percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentile		25.00%
Percent of target		50.00%
RSUs \| 50th Percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentile		50.00%
Percent of target		100.00%
RSUs \| 75th Percentile
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentile		75.00%
Percent of target		200.00%
RSUs \| 90th Percentile or Higher
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentile		90.00%
RSUs \| Maximum \| 90th Percentile or Higher
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of target		300.00%
RSUs and Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation		$ 11,500,000	$ 6,200,000
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation		700,000	300,000
Performance-based Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost		100,000	200,000
Unrecognized compensation expense related to options		300,000	$ 400,000
Options and Performance-based Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to options		$ 2,100,000
2018 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity incentive plan, shares					12,000,000
Equity incentive plan, number of shares available for grant increased by shares				12,500,000
Exercise or strike price of fair market value of underlying common stock on date of grant reacquired or withheld				100.00%
2013 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity incentive plan, shares					0

Borrowings - Summary of Carrying Amount of Borrowings (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ (17,200)	$ (264)
Promissory Notes \| The Mann Group L L C
Debt Instrument [Line Items]
Debt premium recognized in additional paid-in capital	22,100
Loss on extinguishment of debt	$ (22,100)

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

15. Income Taxes

Loss from continuing operations before provision for income taxes for the Company’s domestic and international operations was as follows (in thousands):

	Year Ended December 31,
	2021			2020
United States	$	(80,926	)	$	(57,458	)
Foreign		—			—
Loss before provision for income taxes	$	(80,926	)	$	(57,458	)

At December 31, 2021, the Company has concluded that it is more likely than not that the Company may not realize the benefit of its deferred tax assets due to its history of losses. The Company has incurred operating losses since inception. Accordingly, the net deferred tax assets have been fully reserved. The provision for income taxes consists of the following (in thousands):

	Year Ended December 31,
	2021			2020
Current
U.S. federal	$	—		$	—
U.S. state		—			—
Non-U.S.		—			(218	)
Total current		—			(218	)
Deferred
U.S. federal		(5,170	)		(4,377	)
U.S. state		(14,461	)		(469	)
Non-U.S.		—			—
Total deferred		(19,631	)		(4,846	)
Valuation allowance		19,631			4,846
Total	$	—		$	(218	)

Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting and income tax purposes. A valuation allowance is established when uncertainty exists as to whether all or a portion of the net deferred tax assets will be realized. Components of the net deferred tax assets as of December 31, 2021 and 2020, are approximately as follows (in thousands):

	December 31,
	2021			2020
Deferred tax assets:
Net operating loss carryforwards	$	542,800		$	533,448
Research and development credits		78,804			79,455
Milestone Rights		1,440			1,547
Accrued expenses		2,591			1,436
Loss on purchase commitment		24,845			23,864
Non-qualified stock option expense		5,684			3,766
Capitalized patent costs		7,518			5,273
Other		2,568			2,093
Lease liability		588			559
Interest expense limitation		5,696			2,460
Depreciation		22,983			20,735
Deferred Product Revenue & Costs		404			1,569
Total net deferred tax assets		695,921			676,205
Valuation allowance		(695,094	)		(675,463	)
Net deferred tax assets	$	827		$	742

Deferred tax liabilities:
Right of use asset	$	(555	)	$	(510	)
Other prepaids		(272	)		(232	)
Total deferred tax liabilities		(827	)		(742	)
Net deferred tax assets	$	—		$	—

The Company’s effective tax rate differs from the statutory federal income tax rate as follows for the years ended December 31, 2021 and 2020:

	Year Ended December 31,
	2021			2020
Federal tax benefit rate		21.0	%		21.0	%
Permanent items		-4.4	%		-6.1	%
Stock based compensation		0.3	%		-0.5	%
Tax attribute expirations		-5.9	%		-6.6	%
Foreign withholding tax		0.0	%		0.4	%
Valuation allowance		-11.2	%		-7.8	%
Other		0.2	%		0.0	%
Effective income tax rate		0.0	%		0.4	%

As of December 31, 2021 and 2020, management assessed the realizability of deferred tax assets. Management evaluated the need for an amount of any valuation allowance for deferred tax assets on a jurisdictional basis. This evaluation utilizes the framework contained in ASC 740, Income Taxes, wherein management analyzes all positive and negative evidence available at the balance sheet date to determine whether all or some portion of our deferred tax assets will not be realized. Under this guidance, a valuation allowance must be established for deferred tax assets when it is more likely than not (a probability level of more than 50 percent) that they will not be realized. In assessing the realization of the Company's deferred tax assets, the Company considers all available evidence, both positive and negative.

In concluding on the evaluation, management placed significant emphasis on guidance in ASC 740, which states that “a cumulative loss in recent years is a significant piece of negative evidence that is difficult to overcome.” Based upon available evidence, it was concluded on a more-likely-than-not basis that all deferred tax assets were not realizable as of December 31, 2021. Accordingly, a valuation allowance of $695.1 million has been recorded to offset this deferred tax asset. During the years ended December 31, 2021 and 2020, the change in valuation allowance was $19.6 million and $4.8 million, respectively.

As of December 31, 2021, the Company had federal and state net operating loss carryforwards of approximately $2.2 billion and $1.3 billion available, respectively, to reduce future taxable income. $452.7 million of the federal losses do not expire and the remaining federal losses have started expiring, beginning in the current year through various future dates.

Pursuant to IRC Sections 382 and 383, annual use of the Company’s federal and California net operating loss and research and development credit carryforwards may be limited in the event a cumulative change in ownership of more than 50% occurs within a three-year period. As a result of the Company's initial public offering, an ownership change within the meaning of IRC Section 382 occurred in August 2004. As a result, federal net operating loss and credit carryforwards of approximately $216.0 million are subject to an annual use limitation of approximately $13.0 million. The annual limitation is cumulative and therefore, if not fully utilized in a year can be utilized in future years in addition to the Section 382 limitation for those years. We have completed a Section 382 analysis beginning from the date of our initial public offering through December 31, 2021, to determine whether additional limitations may be placed on the net operating loss carryforwards and other tax attributes, and no additional changes in ownership that met Section 382 study ownership change threshold has been identified through December 31, 2021]. There is a risk that changes in ownership may occur in tax years after December 31, 2021. If a change in ownership were to occur, our net operating loss carryforwards and other tax attributes could be further limited or restricted. If limited, the related asset would be removed from the deferred tax asset schedule with a corresponding reduction in the valuation allowance. Due to the existence of the valuation allowance, limitations created by future ownership changes, if any, related to the Company’s operations in the U.S. will not impact the Company’s effective tax rate.

At December 31, 2021, the Company had $54.2 million of U.S. federal research and development credits which expire beginning in 2024, and $24.6 million of state research and development credits. The California credits do not expire and $2.0 million of the available $2.2 million New Jersey credits expired at the end of 2021. The Company also had two types of credits in Connecticut of which $19.8 million do not expire and $0.1 million of $1.2 million expired at the end of 2021.

The Company files U.S. federal and state income tax returns in jurisdictions with varying statutes of limitations. In the normal course of business the Company is subject to examination by taxing authorities throughout the country. These audits could include examining the timing and amount of deductions, the allocation of income among various tax jurisdictions and compliance with federal, state, and local tax laws. The Company's tax years since 2016 remain subject to examination by federal, state and foreign tax authorities.

A reconciliation of beginning and ending amounts of unrecognized tax benefits in 2021 and 2020, respectively, was as follows (in thousands):

	Year Ended December 31,
	2021		2020
Unrecognized Tax Benefit
Beginning of Year	$	268,902	$	—
Gross increases for tax positions of prior years		—		268,902
Gross decreases for tax positions of current year		—		—
Settlements		—		—
Lapse of statute of limitations		—		—
End of Year	$	268,902	$	268,902

At December 31, 2021 and 2020, the Company has not recognized a liability for unrecognized tax benefits. If any were recognized, it would affect the Company’s effective tax rate. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months. The Company recognizes interest and penalties accrued related to unrecognized tax benefits in income tax expense. During the years ended December 31, 2021 and 2020, the Company did not recognize any interest and/or penalties.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 740
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-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 17
-Subparagraph (b)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Borrowings - 2024 Convertible Notes - Additional Information (Detail) $ / shares in Units, $ in Millions	1 Months Ended				12 Months Ended
	Mar. 31, 2021 USD ($)	Feb. 28, 2021 USD ($) shares	Aug. 31, 2020 $ / shares	Aug. 31, 2019	Dec. 31, 2021
Debt Instrument [Line Items]
Debt instrument payment term description					Principal on each term loan advance under Tranche 1, Tranche 2 and, if applicable, Tranche 3 is payable in 24 equal monthly installments beginning September 1, 2023, until paid in full on August 1, 2025.
Debt issuance amount \| $	$ 230.0
2024 Convertible Notes
Debt Instrument [Line Items]
Senior notes, effective interest rate				5.75%
Terms				2024-11
Debt instrument payment term description				The 2024 convertible notes accrued interest at the rate of 5.75% per year on the principal amount, payable semiannually in arrears on February 15 and August 15 of each year, beginning February 15, 2020, with interest accruing from August 6, 2019. Interest on the 2024 convertible notes was payable in cash or, at the option of the Company if certain conditions are met, in shares of the Company’s common stock at a price per share equal to the last reported sale price on the trading day immediately prior to the interest payment date.
No of convertible shares			333.3333
Principal amount per share \| $ / shares			$ 1,000
Terms \| $ / shares			$ 3.00
Debt issuance amount \| $		$ 5.0
Conversion of debt shares issued \| shares		1,666,667

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Principles of Consolidation

Business

Business — MannKind Corporation and its subsidiaries (the “Company”) is a biopharmaceutical company focused on the development and commercialization of inhaled therapeutic products for patients with endocrine and orphan lung diseases. The Company’s lead product is Afrezza (insulin human) Inhalation Powder, an ultra rapid-acting inhaled insulin indicated to improve glycemic control in adults with diabetes, which was approved by the U.S. Food and Drug Administration (“FDA”) in June 2014. The Company collaborates with a number of third parties to formulate their drugs on the Company’s Technosphere drug delivery platform. Since September 2018, the Company has been collaborating with United Therapeutics Corporation (“United Therapeutics” or “UT”) to develop an inhaled formulation of treprostinil, known as Tyvaso DPI. In April 2021, United Therapeutics submitted a new drug application (“NDA”) to the FDA seeking approval of Tyvaso DPI for the treatment of PAH and PH-ILD. The NDA was resubmitted in December 2021 following a complete response letter in October 2021. The FDA is expected to complete its review of the NDA for Tyvaso DPI by May 2022.

Basis of Presentation

Basis of Presentation — The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”).

The Company is not currently profitable and has rarely generated positive net cash flow from operations. In addition, the Company expects to continue to incur significant expenditures for the foreseeable future in support of its manufacturing operations, sales and marketing costs for Afrezza, and development of other product candidates in the Company’s pipeline. As of December 31, 2021, the Company had capital resources of $124.2 million in cash and cash equivalents, $79.9 million in short-term investments, $56.6 million in long-term investments, an accumulated deficit of $3.1 billion and $288.4 million of total principal amount of outstanding borrowings.

In August 2019, the Company and its wholly owned subsidiaries, entered into a credit and security agreement with MidCap Financial Trust (as amended, the “MidCap Credit Facility”). The MidCap Credit Facility currently provides a secured term loan facility with a potential aggregate principal amount of up to $100.0 million, of which $40.0 million was outstanding as of December 31, 2021. See Note 7 – Borrowings. In March 2021, the Company issued $230.0 million of 2.50% convertible senior notes due 2026 (the “Senior convertible notes”) to provide additional operating capital and pay down higher cost debt.

The Company believes its resources will be sufficient to fund its operations for the next twelve months from the date of issuance of these consolidated financial statements.

Principles of Consolidation — The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated. Certain prior year amounts have been reclassified for consistency with the current year presentation. Changes were made to the consolidated statement of operations to disclose a single caption for interest expense on all outstanding notes. Changes were also made to Note 6 – Accrued Expenses and Other Current Liability to combine accruals for certain services into the Other line. In addition, changes were made to Note 2 – Summary of Significant Accounting Policies and Note 9 – Fair Value of Financial Instruments to conform the presentation of certain short-term investments to the current year presentation.

Segment Information

Segment Information — Operating segments are identified as components of an enterprise about which separate discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. To date, the Company has viewed its operations and manages its business as one segment operating in the United States of America.

Financial Statement Estimates

Revenue Recognition

Revenue Recognition - Net Revenue - Commercial Product Sales

Revenue Recognition- Net Revenue - Collaborations and Services

Milestone Payments

Paycheck Protection Program Loan

Cost of Goods Sold

Cost of Revenues

Cash and Cash Equivalents and Restricted Cash

	December 31,
	2021		2020
Cash and cash equivalents	$	124,184	$	67,005
Restricted cash		—		158
Total cash, cash equivalents, and restricted cash	$	124,184	$	67,163

Held-to-Maturity Investments

The contractual maturities of our held to maturity investments as of December 31, 2021 and 2020 are summarized below (in thousands):

	December 31, 2021				December 31, 2020
	Amortized Cost Basis		Aggregate Fair Value		Amortized Cost Basis		Aggregate Fair Value
Due in one year or less⁽¹⁾	$	103,733	$	103,669	$	59,495	$	59,495
Due after one year through five years		56,619		56,433		—		—
Total	$	160,352	$	160,102	$	59,495	$	59,495

____________________________

(1)	The investments due in one year or less include cash equivalents of $23.8 million as of December 31, 2021 and $59.5 million as of December 31, 2020.

Available-for-Sale Investment

Concentration of Credit Risk

Accounts Receivable and Allowance for Credit Loss

Accounts receivable, net consists of the following (in thousands):

	December 31,
	2021			2020
Accounts receivable – commercial
Accounts receivable, gross	$	7,939		$	8,090
Wholesaler distribution fees and prompt pay discounts		(1,696	)		(1,205	)
Reserve for returns		(2,797	)		(2,667	)
Total accounts receivable – commercial, net		3,446			4,218
Accounts receivable – collaborations and services
Accounts receivable, gross		2,060			—
Allowance for credit losses		(767	)		—
Total accounts receivable – collaborations and services, net		1,293			4,218
Accounts receivable – other		255			—
Total accounts receivable, net	$	4,994		$	4,218

Pre Launch Inventory

are otherwise not met, the Company would not capitalize such inventory costs, choosing instead to recognize such costs as a research and development expense in the period incurred.

Inventories

Impairment of Long-Lived Assets

The Company recorded $0.1 million of asset impairments for the year ended December 31, 2021.

Recognized Loss on Purchase Commitments

Milestone Rights Liability

Fair Value of Financial Instruments

Level 1 — Quoted prices for identical instruments in active markets.

Level 3 — Significant inputs to the valuation model are unobservable.

Income Taxes

Contingencies

Stock-Based Compensation

Clinical Trial Expenses

Net Income or (Loss) Per Share of Common Stock

Recently Adopted Accounting Standards

Recently Issued Accounting Standards

Property and Equipment - Additional Information (Detail) - USD ($) $ in Millions		12 Months Ended
	Nov. 08, 2021	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Depreciation Expense		$ 2.0	$ 1.8
Casper L L C
Property Plant And Equipment [Line Items]
Sale price	$ 102.3
Sale leaseback transaction, lease agreement period.	20 years
Sale leaseback transaction, date	November 8, 2021
Manufacturing Equipment and Computer Hardware
Property Plant And Equipment [Line Items]
Amount of divestiture of long-lived			$ 0.3
Manufacturing and Lab Equipment
Property Plant And Equipment [Line Items]
Amount of divestiture of long-lived		$ 1.1

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

9. Fair Value of Financial Instruments

The availability of observable inputs can vary among the various types of financial assets and liabilities. To the extent that the valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for financial statement disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is categorized is based on the lowest level input that is significant to the overall fair value measurement. The Company uses the exit price method for estimating the fair value of loans for disclosure purposes. Inputs used in the valuation techniques to derive fair values are classified based on a three-level hierarchy, as follows:

Level 1 — Quoted prices for identical instruments in active markets.

Level 3 — Significant inputs to the valuation model are unobservable.

The carrying amounts reported in the accompanying consolidated financial statements for cash, accounts receivable, accounts payable, and accrued expenses and other current liabilities (excluding the Milestone Rights liability) approximate their fair value due to their relatively short maturities. The fair value of the cash equivalents, long- and short-term investments, MidCap credit facility, Mann Group promissory notes, 2024 convertible notes, Senior convertible notes, Milestone Rights liabilities and Financing liability are disclosed below (amounts in millions).

	December 31, 2021
	Investment Level	Amortized Cost (Carrying Value)			Gross Unrealized Holding Losses		Estimated Fair Value
Commercial bonds and paper	Level 2	$	115.2		$	0.2	$	115.0
Money market funds	Level 1		21.3			—		21.3
U.S. Treasuries	Level 2		23.9			0.1		23.8
Total cash equivalents and investments		$	160.4		$	0.3	$	160.1
Less cash equivalents			(23.8	)		—		(23.8	)
Total Investments		$	136.6		$	0.3	$	136.3

December 31, 2020

Investment Level

Amortized Cost

(Carrying Value)

Gross Unrealized

Holding Losses

Estimated

Fair Value

Cash equivalents - U.S. Treasuries

Level 2

59.5

—

59.5

Cash Equivalents and Restricted Cash — Cash equivalents consist of highly liquid investments with original or remaining maturities of 90 days or less at the time of purchase that are readily convertible into cash. As of December 31, 2021 and 2020, the Company held $124.2 million and $67.0 million, respectively, of cash and cash equivalents. The Company held $0.2 million in restricted cash as of December 31, 2020, which was comprised of money market funds, corporate bonds and commercial paper for the collateralization of a letter of credit and treasury bills. There was no restricted cash as of December 31, 2021.

Held-to-Maturity Investments — Investments consist of highly liquid investments that are intended to facilitate liquidity and capital preservation. As of December 31, 2021, the Company held $79.9 million of short-term investments and $56.6 million of long-term investments. As of December 31, 2020, the Company did not hold any investments.

Available-for-Sale Investment — The Thirona convertible note is classified as an available-for-sale security and is included in other assets in the consolidated balance sheet. Available-for-sale investments are subsequently measured at fair value. Unrealized holding gains and losses are excluded from earnings and reported in other comprehensive income until realized. The Company determines fair value of its

available-for-sale investments using level 3 inputs. As of December 31, 2021, the Company evaluated the fair value of its investment in Thirona and determined that the fair value approximates the carrying value of $3.0 million.

Financial Liabilities — The following tables set forth the fair value of the Company’s financial instruments (Level 3 in the fair value hierarchy) (in millions):

	December 31, 2021
			Fair Value
	Carrying Amount		Significant Unobservable Inputs (Level 3)		Total Fair Value
Financial liabilities:
Senior convertible notes⁽¹⁾	$	223.9	$	237.5	$	237.5
MidCap credit facility⁽²⁾		38.8		40.8		40.8
Mann Group convertible notes⁽³⁾		18.4		37.8		37.8
Milestone rights⁽⁴⁾		5.9		18.1		18.1

(1)

(2)	Fair value determined by applying a discounted cash flow analysis with a hypothetical yield of 10%. A change in yield of + or – 2% would result in a fair value of $39.1 million and $42.7 million, respectively.

(3)

(4)	Fair value determined by applying a Monte Carlo simulation.

	December 31, 2020
			Fair Value
	Carrying Value		Significant Unobservable Inputs (Level 3)		Total Fair Value
Financial liabilities:⁽¹⁾
MidCap credit facility	$	49.3	$	55.4	$	55.4
Mann Group promissory notes⁽²⁾		63.0		78.9		78.9
2024 convertible notes		5.0		7.0		7.0
PPP loan		4.9		4.7		4.7
Milestone Rights		7.3		19.8		19.8

(1)	Fair value measurements were based on a discounted cash flow model, except for the Milestone rights for which a Monte Carlo simulation was applied.

(2)	Mann Group promissory notes consisted of the following carrying values and fair values:

Mann Group convertible notes carrying value of $28.0 million and fair value of $52.2 million.

Mann Group non-convertible notes carrying value of $35.1 million and fair value of $26.7 million.

Milestone Rights Liability — The fair value measurement of the Milestone Rights liability is sensitive to the discount rate and the timing of achievement of milestones. The Company utilized Monte-Carlo Simulation Method to simulate the Net Sales under a neutral framework to estimate the payment. The Company then discounted the future expected payments at cost of debt with a term equal to the simulated time to payout based on cumulative sales.

Financing Liability — The failed Sale Leaseback Transaction in November 2021 resulted in a financing liability which is included in our consolidated balance sheets as a current financing liability of $7.0 million and a long-term financing liability of $93.5 million. The Company determined the fair value of the financing liability using level 3 inputs. As of December 31, 2021, the Company evaluated the fair value of its financing liability and determined that the fair value approximates the carrying value.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Components of Basic and Diluted EPS Computations

Inventories - Components of Inventory (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 2,703	$ 1,393
Work-in-process	2,522	2,484
Finished goods	1,927	1,096
Total inventory	$ 7,152	$ 4,973

Earnings Per Common Share ("EPS") (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

The following tables summarize the components of the basic and diluted EPS computations (in thousands, except per share amounts):

	Year Ended December 31,
	2021			2020
EPS — basic and diluted:
Net loss (numerator)	$	(80,926	)	$	(57,240	)
Weighted average common shares (denominator)		249,244			222,585
Net loss per share	$	(0.32	)	$	(0.26	)

Potential Dilutive Securities Outstanding that are Considered Antidilutive

Potentially dilutive securities outstanding that are considered antidilutive are summarized as follows (in shares):

	Year Ended December 31,
	2021		2020
Senior convertible notes		44,120,463		—
Common stock options and PNQs		10,655,146		12,264,616
Mann Group convertible notes		7,370,000		11,200,000
Warrants associated with MidCap credit facility		—		1,283,467
2024 convertible notes		—		1,666,667
RSUs and Market RSUs⁽¹⁾		7,609,025		6,037,542
Employee stock purchase plan		243,375		292,981
Total shares		69,998,009		32,745,273

_________________________


(1)	Market RSUs are included at the maximum share delivery percentage.

Schedule of Deferred Revenue Related to Revenue Recognized for Collaborations and Services (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Beginning balance	$ 34,937	$ 40,847
Additions	21,707	1,910
Upfront and milestone payments		25,000
Revenue — collaborations and services	(36,274)	(32,820)
Ending balance	$ 20,370	$ 34,937

Summary of Significant Accounting Policies - Additional Information (Detail 1)	Dec. 31, 2021
Collaborations and services \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
Summary Of Significant Accounting Policies [Line Items]
Remaining performance obligation, Expected timing of satisfaction, period	12 months

Collaboration, Licensing and Other Arrangements - Schedule of Revised Anticipated Cash Flows from Transactions Allocated Performance Obligations (Detail) - USD ($)
$ in Millions

12 Months Ended

Oct. 16, 2021

Aug. 12, 2021

Dec. 31, 2021

Aug. 31, 2021

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

R&D Services and License | Over Time

$ 50.9

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1]

$ 18.4

Ratably

Next-Gen R&D Services | Over Time

^[2]

May 2021 - Oct 2021

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1]

$ 7.2

Input

Collaboration and License Agreement | Tyvaso DPI

^[3]

% of completion of costs

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Collaboration and License Agreement | Tyvaso DPI | R&D Services and License | Over Time

$ 221.5

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1],[4]

$ 6.0

^[4]

Ratably

Collaboration and License Agreement | Tyvaso DPI | Next-Gen R&D Services | Over Time

^[2],[4]

Aug 2021 - Oct 2021

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1]

$ 8.8

Input

Collaboration and License Agreement | Tyvaso DPI | Manufacturing Services | Point In Time

^[5]

% of completion of costs

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1]

$ 206.7

Collaboration and License Agreement | United Therapeutics Corporation

^[6]

Transfer of control

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[7]

$ 463.5

Collaboration and License Agreement | United Therapeutics Corporation | R&D Services and License | Over Time

$ 50.9

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[8]

Ratably

Collaboration and License Agreement | United Therapeutics Corporation | Next-Gen R&D Services | Over Time

^[8],[9]

Aug 2021 - Oct 2021

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1],[10]

$ 4.8

^[10]

Input

Collaboration and License Agreement | United Therapeutics Corporation | Manufacturing Services | Point In Time

^[5],[10]

% of completion of costs

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1],[11]

$ 458.7

Property Plant And Equipment [Abstract]

^[11],[12]

Transfer of control

[1]	Allocation is based on management’s assessment of the stand-alone selling price of each performance obligation.
[2]	Represents the estimated period when the R&D Services performance obligation will be substantially complete.
[3]	Pre-Commercial Services and Next-Gen R&D Services performance obligations will be satisfied over time using the input method based on the costs incurred to date as a percentage of the total estimated costs to fulfill the contract. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer.
[4]	The license for the Company’s IP was considered to be interdependent with the development activities to support approval of Tyvaso DPI. A sales-based royalty is promised in exchange for the IP license; therefore, the royalties associated with the license are excluded from the determination of the transaction price and the Company will recognize revenue as the sale of Tyvaso DPI to a patient occurs.
[5]	The Next-Gen R&D Services performance obligation will be satisfied over time using the input method based on the costs incurred to date as a percentage of the total estimated costs to fulfill the contract. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer.
[6]	The Manufacturing Services performance obligation will be recognized as control of manufactured products is transferred to the customer; therefore, no revenue associated with this obligation was recognized during the year ended December 31, 2021. The allocation of transaction price includes a material right related to manufacturing services. The total anticipated cash flow is based on the Company’s estimated production and the ultimate cash flows may vary as manufacturing purchase orders are received.
[7]	The total anticipated cash flow includes a transaction price of $64.3 million for the contractual obligations under the CSA for the Manufacturing Services and the Next-Gen R&D Services performance obligations and $399.2 million for future supply of Tyvaso DPI over the remaining term of the CSA.
[8]	The license for the Company’s IP was considered to be interdependent with the development activities to support approval of Tyvaso DPI. A sales-based royalty is promised in exchange for the IP license; therefore, the royalties associated with the license are excluded from the determination of the transaction price and the Company will recognize revenue as the sale of Tyvaso DPI to a patient occurs.
[9]	Represents the period when the revenue for the R&D Services performance obligation was recognized.
[10]	The standalone selling price (“SSP”) for the Next-Gen R&D Services performance obligation was based on industry ratios as well as the Company’s historical R&D projects. The transaction price for the Next-Gen R&D Services was based on fixed consideration which was allocated between performance obligations as discussed in note (2) above.
[11]	Pre-production activities under the CSA, such as facility expansion services and certain other administrative services, were considered bundled services that are part of the Company’s Manufacturing Services performance obligation, given the nature of the Company’s contractual responsibilities and ASC 606 requirements.
[12]	The Manufacturing Services performance obligation will be recognized as control of manufactured products is transferred to the customer. The modification did not result in a cumulative catch-up adjustment as a result of the revenue being deferred for the performance obligations that were affected by the modification. The allocation of transaction price includes a material right related to manufacturing services in the amount of $144.5 million. The total anticipated cash flow is based on the Company’s estimated production and the ultimate cash flows may vary as manufacturing purchase orders are received.

Property and Equipment

12 Months Ended

Dec. 31, 2021

Property and Equipment

5. Property and Equipment

Property and equipment consist of the following (in thousands):

	Estimated Useful		December 31,
	Life (Years)		2021				2020
Land		—	$	875			$	875
Buildings	39-40			17,389				17,389
Building improvements	5-40			38,651				37,543
Machinery and equipment	3-15			55,334				55,054
Furniture, fixtures and office equipment	5-10			2,969				3,004
Computer equipment and software		3		8,163				8,319
Construction in progress		—		10,892		⁽¹⁾		503
				134,273				122,687
Less accumulated depreciation				(97,661	)			(96,820	)
Total property and equipment, net			$	36,612			$	25,867

_________________________

⁽¹⁾

Depreciation expense related to property and equipment for the years ended December 31, 2021 and 2020 was $2.0 million and $1.8 million, respectively. During the year ended December 31, 2021 and 2020, the Company retired $1.1 million and $0.3 million, respectively of manufacturing equipment, computer hardware and software, lab equipment, and furniture and fixtures, as it was no longer in service. The net book value for the disposed assets was de minimis.

On November 8, 2021, the Company sold certain land, building and improvements located in Danbury, CT (the “Property”) to an affiliate of Creative Manufacturing Properties (the “Purchaser”) for a sales price of $102.3 million, subject to terms and the conditions contained in a purchase and sale agreement. Effective with the closing of this transaction, the Company entered into a 20-year lease agreement with the Purchaser (the “Sale-Leaseback Transaction”). The sale of the Property and subsequent lease did not result in the transfer of control of the Property to the Purchaser; therefore, the Sale-Leaseback Transaction qualified as a failed sale leaseback transaction whereby the lease is accounted for as finance lease and the Property remains as a long-lived asset of the Company and is depreciated at its remaining useful life of 20 years or less. See Note 13 – Commitments and Contingencies.

Common and Preferred Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			1 Months Ended						3 Months Ended	12 Months Ended
	Oct. 09, 2020	Jun. 24, 2020	Mar. 31, 2021	Feb. 28, 2021	Jan. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Feb. 28, 2018	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Oct. 31, 2021	Aug. 31, 2019
Class of Stock [Line Items]
Common stock, shares authorized						400,000,000			400,000,000	400,000,000	400,000,000
Common stock, par value						$ 0.01			$ 0.01	$ 0.01	$ 0.01
Undesignated preferred stock, shares authorized						10,000,000			10,000,000	10,000,000	10,000,000
Undesignated preferred stock, par value						$ 0.01			$ 0.01	$ 0.01	$ 0.01
Common stock, shares issued						242,117,089			242,117,089	251,477,562	242,117,089
Common stock, shares outstanding						242,117,089			242,117,089	251,477,562	242,117,089
Undesignated preferred stock, shares outstanding						0			0	0	0
Debt issuance amount			$ 230,000
Proceeds from market price stock purchase plan										$ 106	$ 215
Market price stock purchase plan										25,000
MidCap Credit Facility
Class of Stock [Line Items]
Common stock, shares issued												964,113
Class of Warrant or Right, Number of Securities Called by Warrants or Rights												1,283,467
QrumPharma
Class of Stock [Line Items]
Number of common stock issued						3,067,179
MidCap Credit Facility
Class of Stock [Line Items]
Warrants to purchase of common stock						111,853			111,853		111,853
Warrants expiration date						Dec. 01, 2027			Dec. 01, 2027		Dec. 01, 2027
Underwriting Agreement
Class of Stock [Line Items]
Number of shares sold during the period							26,666,667
Class of Warrant or Right, Number of Securities Called by Warrants or Rights							7,250,000
Exercise price of warrants							$ 1.60
Issuance of common stock in at-the-market offering/placement (in shares)							26,666,667
Class of Warrant or Right, Outstanding							26,666,667
Remaining Warrants Available for Purchase							0
Convertible Promissory Note \| The Mann Group L L C
Class of Stock [Line Items]
Conversion of debt shares issued					4,000,000.0				2,800,000	4,000,000,000,000	2,800,000
Conversion of notes accrued interest to common shares, value					$ 400				$ 3,000
Conversion of notes accrued interest to common shares									1,200,000
Debt issuance amount					$ 9,600				$ 7,000	$ 9,600	$ 7,000
2024 Convertible Notes
Class of Stock [Line Items]
Conversion of debt shares issued				1,666,667
Debt issuance amount				$ 5,000
Tranche 1 \| MidCap Credit Facility
Class of Stock [Line Items]
Exercise price of warrants													$ 1.11
Warrants to purchase of common stock												1,171,614	1,171,614
Tranche 2 \| MidCap Credit Facility
Class of Stock [Line Items]
Exercise price of warrants						$ 2.91			$ 2.91		$ 2.91
Warrants to purchase of common stock						111,853			111,853		111,853	111,853
Common Stock \| June 2020 Note
Class of Stock [Line Items]
Conversion of debt shares issued		1,235,094
Common Stock \| December 2020 Note
Class of Stock [Line Items]
Conversion of debt shares issued	1,377,356
Contolled Equity Offering Sales Agreement \| Cantor Fitzgerald
Class of Stock [Line Items]
Stock purchase agreements date								Feb. 28, 2018
Contolled Equity Offering Sales Agreement \| Cantor Fitzgerald \| Common Stock \| Maximum
Class of Stock [Line Items]
Amount of net proceeds from issuance of securities								$ 50,000
At Market Issuance Sales Agreement \| Cantor Fitzgerald \| Common Stock
Class of Stock [Line Items]
Amount of net proceeds from issuance of securities										$ 1,900	$ 23,500
Number of shares sold during the period										578,063	11,851,566
Exchange price per share						$ 1.99			$ 1.99	$ 3.26	$ 1.99
Issuance of common stock in at-the-market offering/placement (in shares)										578,063	11,851,566

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Schedule of Lease Term and Discount Rate

Financing liability information is as follows (in thousands):

	December 31, 2021
Weighted average remaining lease term (in years)		19.8
Weighted average discount rate		9.0	%

Lease information is as follows (in thousands):

	December 31, 2021			December 31, 2020
Weighted average remaining lease term (in years)		2.6			1.9
Weighted average discount rate		7.3	%		7.5	%

Summary of Lease Information

		December 31, 2021
Interest expense on financing liability		$	1,373

	December 31,
	2021		2020
Operating lease costs	$	863	$	1,403
Variable lease costs		515		394
Cash paid		1,867		1,797

Summary of Financing Liability Payments

Financing liability payments as of December 31, 2021 was as follows (in thousands):

	December 31, 2021
2022⁽¹⁾	$	6,373
2023		9,778
2024		10,023
2025		10,274
2026		10,539
Thereafter		199,091
Total		246,078
Interest payments		(142,485	)
Debt issuance costs		(3,091	)
Total financing liability	$	100,502

⁽¹⁾	2022 includes the amortization of the rent abatement.

Remaining Purchase Requirements

	December 31, 2021		March 31, 2021
2022	€	5.4 million	€	7.0 million
2023	€	8.8 million	€	8.5 million
2024	€	14.6 million	€	10.9 million
2025	€	15.5 million	€	14.6 million
2026	€	19.4 million	€	15.5 million
2027	€	9.2 million	€	19.4 million

Schedule of Future Minimum Office And Vehicle Lease Payments

Future minimum office and vehicle lease payments as of December 31, 2021 and 2020 were as follows (in thousands):

	December 31,
	2021		2020
2021	$	—	$	1,494
2022		1,444		1,239
2023		497		88
2024		409		—
2025		311		—
Total	$	2,661	$	2,821

Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued Expenses And Other Current Liabilities [Abstract]
Salary and related expenses	$ 14,022	$ 11,250
Discounts and allowances for commercial product sales	4,227	3,688
Accrued interest	2,166	519
Deferred lease liability	1,380	1,422
Current portion of milestone rights liability	1,088	1,337
Professional fees	895	533
Retail inventory purchase	875
Danbury facility buildout	786
Other	1,980	958
Accrued expenses and other current liabilities	$ 27,419	$ 19,707

Loss from Continuing Operations Before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
United States	$ (80,926)	$ (57,458)
Loss before income tax expense	$ (80,926)	$ (57,458)

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Borrowings - Schedule of Maturities of Our Borrowings (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2023	$ 6,667
2024	20,000
2025	31,758
Thereafter	230,000
Total principal payments	288,425
Unamortized discount	(1,167)
Debt issuance costs	(6,056)
Total debt — net carrying amount	$ 281,202	$ 122,235

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Income Taxes - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 31, 2004	Dec. 31, 2021	Dec. 31, 2020
Income Taxes [Line Items]
Valuation allowance of deferred tax asset		$ 695,094,000	$ 675,463,000
Change in the valuation allowance		19,631,000	4,846,000
Federal operating loss carryforwards		2,200,000,000
State operating loss carryforwards		1,300,000,000
Federal operation loss carryforwards, not subject to expiration		$ 452,700,000
Operating loss carryforwards, limitations on use		Pursuant to IRC Sections 382 and 383, annual use of the Company’s federal and California net operating loss and research and development credit carryforwards may be limited in the event a cumulative change in ownership of more than 50% occurs within a three-year period.
Net operating loss carryforwards	$ 216,000,000.0
Net operating loss and credit carryforwards, annual use limitation	$ 13,000,000.0
Research and development credits begin to expire		2021
Research and development credits		$ 78,804,000	79,455,000
Research and development credits expire		1,200,000
Unrecognized income tax interest and penalties		0	0
Federal
Income Taxes [Line Items]
Research and development credits not expire		$ 54,200,000
Research and development credits begin to expire		2024
State
Income Taxes [Line Items]
Research and development credits not expire		$ 24,600,000
New Jersey
Income Taxes [Line Items]
Research and development credits begin to expire		2021
Connecticut
Income Taxes [Line Items]
Research and development credits not expire			19,800,000
Research and development credits			$ 100,000
California
Income Taxes [Line Items]
Research and development credits not expire		$ 2,000,000.0
Research and development credits		$ 2,200,000

Borrowings - Schedule of Amortization of Premium and Accretion of Debt Issuance Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Amortization of debt discount	$ 377	$ 268
Amortization of debt issuance cost	$ 1,215	$ 101

Income Tax- Summary of Positions for which Significant Change in Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Beginning of Year	$ 268,902
Gross increases for tax positions of prior years	0	$ 268,902
End of Year	$ 268,902	$ 268,902

Commitments and Contingencies - Remaining Purchase Requirements (Detail) - EUR (€) € in Millions	Dec. 31, 2021	Mar. 31, 2021
Purchase Obligation Fiscal Year Maturity [Abstract]
2022	€ 5.4	€ 7.0
2023	8.8	8.5
2024	14.6	10.9
2025	15.5	14.6
2026	19.4	15.5
2027	€ 9.2	€ 19.4

Collaboration, Licensing and Other Arrangements - Revenue Allocation (Detail) - USD ($)
$ in Millions

12 Months Ended

Oct. 16, 2021

Dec. 31, 2021

R&D Services and License | Over Time

$ 50.9

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1]

$ 18.4

Ratably

Pre-Commercial Services | Over Time

^[2]

May 2021 - Oct 2021

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1]

$ 4.6

Input

Next-Gen R&D Services | Over Time

^[3]

% of completion of costs

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1]

$ 7.2

Input

Facility Expansion Services | Point In Time

^[3]

% of completion of costs

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1],[4]

$ 20.7

Collaboration and License Agreement | United Therapeutics Corporation

^[4],[5]

Transfer of control

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Collaboration and License Agreement | R&D Services and License | United Therapeutics Corporation | Over Time

$ 50.9

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[6]

Ratably

Collaboration and License Agreement | Next-Gen R&D Services | United Therapeutics Corporation | Over Time

^[6],[7]

Aug 2021 - Oct 2021

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

^[1],[8]

$ 4.8

^[8]

Input

Clinical Supplies | Collaboration and License Agreement | United Therapeutics Corporation

^[8],[9]

% of completion of costs

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

Clinical Supplies | Collaboration and License Agreement | R&D Services and License | United Therapeutics Corporation | Over Time

105.8

Collaborative Arrangements And Noncollaborative Arrangement Transactions [Line Items]

$ 105.8

Allocation of Price

100.00%

Ratably

^[10]

Sep 2018 - Dec 2021

[1]	Allocation is based on management’s assessment of the stand-alone selling price of each performance obligation.
[2]	Represents the estimated period when the R&D Services performance obligation will be substantially complete.
[3]	Pre-Commercial Services and Next-Gen R&D Services performance obligations will be satisfied over time using the input method based on the costs incurred to date as a percentage of the total estimated costs to fulfill the contract. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer.
[4]	The Company also acts as agent for the procurement of equipment for the manufacturing expansion for the UT Equipment. The Company received $5.0 million from UT for the UT Equipment, which was recognized as deposits from customer on the consolidated balance sheet and will be released as the title is transferred to UT.
[5]	The Facility Expansion Services performance obligation would be recognized as control of manufactured products is transferred to the customer.
[6]	The license for the Company’s IP was considered to be interdependent with the development activities to support approval of Tyvaso DPI. A sales-based royalty is promised in exchange for the IP license; therefore, the royalties associated with the license are excluded from the determination of the transaction price and the Company will recognize revenue as the sale of Tyvaso DPI to a patient occurs.
[7]	Represents the period when the revenue for the R&D Services performance obligation was recognized.
[8]	The standalone selling price (“SSP”) for the Next-Gen R&D Services performance obligation was based on industry ratios as well as the Company’s historical R&D projects. The transaction price for the Next-Gen R&D Services was based on fixed consideration which was allocated between performance obligations as discussed in note (2) above.
[9]	The Next-Gen R&D Services performance obligation will be satisfied over time using the input method based on the costs incurred to date as a percentage of the total estimated costs to fulfill the contract. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer.
[10]	Recognition period represents the estimated period to satisfy the performance obligation.

Borrowings - Milestone Rights - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021
Debt Disclosure [Abstract]
Remaining milestone rights liability	$ 7.3	$ 5.9
Payment for milestone liability	$ 5.0
Milestone rights liability, current		$ 1.3

Description of Business

12 Months Ended

Dec. 31, 2021

Operating Lease Liabilities Payments Due [Abstract]

Description of Business

1. Description of Business

The Company believes its resources will be sufficient to fund its operations for the next twelve months from the date of issuance of these consolidated financial statements.

Fair Value of Financial Instruments - Fair Value of Financial Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
MidCap Credit Facility
Financial liabilities:
Total financial liabilities fair value	$ 40.8	$ 55.4
Senior convertible notes
Financial liabilities:
Total financial liabilities fair value	237.5
Mann Group Convertible Notes
Financial liabilities:
Total financial liabilities fair value	37.8	52.2
Milestone Rights Liability
Financial liabilities:
Total financial liabilities fair value	18.1	19.8
2024 Convertible Notes
Financial liabilities:
Total financial liabilities fair value		7.0
Mann Group Promissory Notes
Financial liabilities:
Total financial liabilities fair value		78.9
PPP Loan
Financial liabilities:
Total financial liabilities fair value		4.7
Carrying Amount \| MidCap Credit Facility
Financial liabilities:
Total financial liabilities fair value	38.8	49.3
Carrying Amount \| Senior convertible notes
Financial liabilities:
Total financial liabilities fair value	223.9
Carrying Amount \| Mann Group Convertible Notes
Financial liabilities:
Total financial liabilities fair value	18.4	28.0
Carrying Amount \| Milestone Rights Liability
Financial liabilities:
Total financial liabilities fair value	5.9	7.3
Carrying Amount \| 2024 Convertible Notes
Financial liabilities:
Total financial liabilities fair value		5.0
Carrying Amount \| Mann Group Promissory Notes
Financial liabilities:
Total financial liabilities fair value		63.0
Carrying Amount \| PPP Loan
Financial liabilities:
Total financial liabilities fair value		4.9
Estimate of Fair Value Measurement \| Fair Value, Inputs, Level 3 \| MidCap Credit Facility
Financial liabilities:
Total financial liabilities fair value	40.8	55.4
Estimate of Fair Value Measurement \| Senior convertible notes \| Fair Value, Inputs, Level 3
Financial liabilities:
Total financial liabilities fair value	237.5
Estimate of Fair Value Measurement \| Mann Group Convertible Notes \| Fair Value, Inputs, Level 3
Financial liabilities:
Total financial liabilities fair value	37.8
Estimate of Fair Value Measurement \| Milestone Rights Liability \| Fair Value, Inputs, Level 3
Financial liabilities:
Total financial liabilities fair value	$ 18.1	19.8
Estimate of Fair Value Measurement \| 2024 Convertible Notes \| Fair Value, Inputs, Level 3
Financial liabilities:
Total financial liabilities fair value		7.0
Estimate of Fair Value Measurement \| Mann Group Promissory Notes \| Fair Value, Inputs, Level 3
Financial liabilities:
Total financial liabilities fair value		78.9
Estimate of Fair Value Measurement \| PPP Loan \| Fair Value, Inputs, Level 3
Financial liabilities:
Total financial liabilities fair value		$ 4.7

Components of Net Deferred Tax Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforwards	$ 542,800	$ 533,448
Research and development credits	78,804	79,455
Milestone Rights	1,440	1,547
Accrued expenses	2,591	1,436
Loss on purchase commitment	24,845	23,864
Non-qualified stock option expense	5,684	3,766
Capitalized patent costs	7,518	5,273
Other	2,568	2,093
Lease liability	588	559
Interest expense limitation	5,696	2,460
Depreciation	22,983	20,735
Deferred Product Revenue & Costs	404	1,569
Total net deferred tax assets	695,921	676,205
Valuation allowance	(695,094)	(675,463)
Net deferred tax assets	827	742
Deferred tax liabilities:
Right of use asset	(555)	(510)
Other prepaids	(272)	(232)
Total deferred tax liabilities	$ (827)	$ (742)

Commitments and Contingencies - Schedule of Financing Liability Payments (Detail)
$ in Thousands

Dec. 31, 2021

USD ($)

2022

$ 6,373

^[1]

9,778

10,023

10,274

10,539

199,091

246,078

(142,485)

(3,091)

Total financing liability

$ 100,502

[1]	2022 includes the amortization of the rent abatement.

Common and Preferred Stock

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Common and Preferred Stock

10. Common and Preferred Stock

The Company is authorized to issue 400,000,000 shares of common stock, par value $0.01 per share, and 10,000,000 shares of undesignated preferred stock, par value $0.01 per share, issuable in one or more series as designated by the Company’s board of directors. No other class of capital stock is authorized. As of December 31, 2021 and 2020, 251,477,562 and 242,117,089 shares of common stock, respectively, were issued and outstanding and no shares of preferred stock were outstanding.

In February 2018, the Company entered into a controlled equity offering sales agreement (the “CF Sales Agreement”) with Cantor Fitzgerald & Co. (“Cantor Fitzgerald”), as sales agent, pursuant to which the Company may offer and sell, from time to time, through Cantor

Fitzgerald, shares of the Company’s common stock having an aggregate offering price of up to $50.0 million or such other amount as may be permitted by the Sales Agreement. Under the Sales Agreement, Cantor Fitzgerald may sell shares by any method deemed to be an “at-the-market offering” as defined in Rule 415 under the Securities Act of 1933, as amended. For the year ended December 31, 2021, the Company sold an aggregate of 578,063 shares of the Company’s common stock at an average purchase price of $3.26 per share for an aggregate gross proceeds of approximately $1.9 million pursuant to the Sales Agreement. For the year ended December 31, 2020, the Company sold an aggregate of 11,851,566 shares of the Company’s common stock at an average purchase price of $1.99 per share for an aggregate gross proceeds of approximately $23.5 million pursuant to the CF Sales Agreement.

In June 2020, the Company prepaid the June 2020 note with the issuance of 1,235,094 shares of the Company’s common stock, in accordance with the terms of the June 2020 note. In October 2020, the Company prepaid the December 2020 note with the issuance of 1,377,356 shares of the Company’s common stock, in accordance with the terms of the December 2020 note. The number of shares issued for the prepayments in June and October 2020 were determined based on the Company’s closing stock price on the day preceding the settlement date. See Note 7 – Borrowings.

In June 2020, 7,250,000 warrants were exercised at a price of $1.60 per share. The warrants were issued pursuant to an underwriting agreement with Leerink Partners LLC for a public offering of 26,666,667 shares of the Company’s common stock and warrants to purchase up to an aggregate of 26,666,667 shares of the Company’s common stock. There are no remaining warrants outstanding under this agreement.

In the fourth quarter of 2020, the Mann Group converted $3.0 million of accrued interest and $7.0 million of principal under the Mann Group convertible note into 1.2 million shares and 2.8 million shares, respectively, of the Company’s common stock, in accordance with the terms of the convertible note. Subsequent to December 31, 2020, the Mann Group converted $0.4 million of interest and $9.6 million of principal into 4.0 million shares of common stock. See Note 7 – Borrowings.

In December 2020, the Company issued 111,853 warrants to purchase shares of the Company’s common stock in connection with the third amendment to the Midcap Credit Facility. The warrants are set to expire on the earlier of December 1, 2027 or upon acquisition of the Company. See Note 7 – Borrowings.

In December 2020, the Company issued 3,067,179 shares of the Company’s common stock as consideration for the acquisition of QrumPharma. See Note 3 – Acquisition.

In February 2021, the Company converted $5.0 million principal amount of 2024 convertible notes into 1,666,667 shares of the Company’s common stock.

In October 2021, MidCap exercised 1,171,614 and 111,853 warrants issued in association with Tranches 1 and 2, respectively, under the MidCap credit facility, as amended, to purchase an aggregate of 1,283,467 shares of the Company’s common stock through a cashless exercise that resulted in the net issuance of 964,113 shares. See Note 7 – Borrowings.

During the year ended December 31, 2021, the Company received $0.1 million from the market price stock purchase plan (“MPSPP”) for 25,000 shares and a de minimis amount during the year ended December 31, 2020.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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