Intersect ENT (XENT) 10-Q 2 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 26, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-36545
Entity Registrant Name	INTERSECT ENT, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-0280837
Entity Address, Address Line One	1555 Adams Drive
Entity Address, City or Town	Menlo Park
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94025
City Area Code	650
Local Phone Number	641-2100
Title of 12(b) Security	Common Stock, 0.001 par value
Trading Symbol	XENT
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		32,719,014
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001271214
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	[1]
Current assets:
Cash and cash equivalents	$ 56,891	$ 20,652
Short-term investments	73,815	69,986
Accounts receivable, net	11,880	19,113
Inventories, net	11,158	17,000
Prepaid expenses and other current assets	2,921	2,300
Total current assets	156,665	129,051
Property and equipment, net	5,555	6,312
Operating lease right-of-use assets	10,357	11,980
Other non-current assets	560	559
Total assets	173,137	147,902
Current liabilities:
Accounts payable	4,589	4,056
Accrued compensation	10,839	12,717
Other current liabilities	4,349	2,163
Total current liabilities	19,777	18,936
Operating lease liabilities	8,985	10,886
Convertible notes, net	62,975	0
Other non-current liabilities	22	22
Total liabilities	91,759	29,844
Commitments and contingencies (note 9)
Stockholders’ equity:
Preferred stock	0	0
Common stock, $0.001 par value; Authorized shares: 150,000 at June 30, 2020 and December 31, 2019; Issued and outstanding shares: 32,645 at June 30, 2020 and 32,235 at December 31, 2019	33	32
Additional paid-in capital	364,201	348,729
Accumulated other comprehensive income	22	53
Accumulated deficit	(282,878)	(230,756)
Total stockholders’ equity	81,378	118,058
Total liabilities and stockholders’ equity	173,137	147,902
Series DF-1 Convertible Preferred Stock
Stockholders’ equity:
Preferred stock	$ 0	$ 0
[1]	Amounts have been derived from the December 31, 2019 audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Stockholders’ equity:
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	9,994,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	32,716,000	32,235,000
Common stock, shares outstanding (in shares)	32,716,000	32,235,000
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Series DF-1 Convertible Preferred Stock
Stockholders’ equity:
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	6,310	0
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 22,720	$ 24,056	$ 52,326	$ 77,388
Cost of sales	7,845	4,876	21,612	14,567
Gross profit	14,875	19,180	30,714	62,821
Operating expenses:
Selling, general and administrative	21,702	26,429	67,399	81,247
Research and development	4,551	6,145	13,715	18,452
Total operating expenses	26,253	32,574	81,114	99,699
Loss from operations	(11,378)	(13,394)	(50,400)	(36,878)
Interest expense	(886)	0	(1,372)	0
Other income (expense), net	799	546	(350)	1,841
Net loss	(11,465)	(12,848)	(52,122)	(35,037)
Other comprehensive income (loss):
Unrealized gain (loss) on short-term investments, net	(73)	(3)	(31)	135
Comprehensive loss	$ (11,538)	$ (12,851)	$ (52,153)	$ (34,902)
Net loss per share, basic and diluted (in usd per share)	$ (0.35)	$ (0.41)	$ (1.60)	$ (1.12)
Weighted average common shares used to compute net loss per share, basic and diluted (in usd per share)	32,695	31,483	32,552	31,256

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholder's Equity - USD ($) $ in Thousands	Total		Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Balance at beginning of period (in shares) at Dec. 31, 2018			30,745,000
Balance at beginning of period at Dec. 31, 2018	$ 120,994		$ 31	$ 308,766	$ (41)	$ (187,762)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and exercise of stock options (in shares)			417,000
Issuance of common stock and exercise of stock options	4,467			4,467
Stock-based compensation expense	4,014			4,014
Unrealized gain (loss) on short-term investments	77				77
Net loss	(10,805)					(10,805)
Balance at end of period (in shares) at Mar. 31, 2019			31,162,000
Balance at end of period at Mar. 31, 2019	118,747		$ 31	317,247	36	(198,567)
Balance at beginning of period (in shares) at Dec. 31, 2018			30,745,000
Balance at beginning of period at Dec. 31, 2018	120,994		$ 31	308,766	(41)	(187,762)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on short-term investments	135
Net loss	(35,037)
Balance at end of period (in shares) at Sep. 30, 2019			31,510,000
Balance at end of period at Sep. 30, 2019	110,883		$ 32	333,556	94	(222,799)
Balance at beginning of period (in shares) at Mar. 31, 2019			31,162,000
Balance at beginning of period at Mar. 31, 2019	118,747		$ 31	317,247	36	(198,567)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and exercise of stock options (in shares)			307,000
Issuance of common stock and exercise of stock options	4,964			4,964
Stock-based compensation expense	5,680			5,680
Unrealized gain (loss) on short-term investments	61				61
Net loss	(11,384)					(11,384)
Balance at end of period (in shares) at Jun. 30, 2019			31,469,000
Balance at end of period at Jun. 30, 2019	118,068		$ 31	327,891	97	(209,951)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and exercise of stock options (in shares)			41,000
Issuance of common stock and exercise of stock options	408		$ 1	407
Stock-based compensation expense	5,258			5,258
Unrealized gain (loss) on short-term investments	(3)				(3)
Net loss	(12,848)					(12,848)
Balance at end of period (in shares) at Sep. 30, 2019			31,510,000
Balance at end of period at Sep. 30, 2019	110,883		$ 32	333,556	94	(222,799)
Balance at beginning of period (in shares) at Dec. 31, 2019			32,235,000
Balance at beginning of period at Dec. 31, 2019	118,058	[1]	$ 32	348,729	53	(230,756)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and exercise of stock options (in shares)			302,000
Issuance of common stock and exercise of stock options	3,101		$ 1	3,100
Stock-based compensation expense	4,253			4,253
Unrealized gain (loss) on short-term investments	(19)				(19)
Net loss	(17,533)					(17,533)
Balance at end of period (in shares) at Mar. 31, 2020			32,537,000
Balance at end of period at Mar. 31, 2020	107,860		$ 33	356,082	34	(248,289)
Balance at beginning of period (in shares) at Dec. 31, 2019			32,235,000
Balance at beginning of period at Dec. 31, 2019	118,058	[1]	$ 32	348,729	53	(230,756)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unrealized gain (loss) on short-term investments	(31)
Net loss	(52,122)
Balance at end of period (in shares) at Sep. 30, 2020			32,716,000
Balance at end of period at Sep. 30, 2020	81,378		$ 33	364,201	22	(282,878)
Balance at beginning of period (in shares) at Mar. 31, 2020			32,537,000
Balance at beginning of period at Mar. 31, 2020	107,860		$ 33	356,082	34	(248,289)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and exercise of stock options (in shares)			108,000
Issuance of common stock and exercise of stock options	728			728
Stock-based compensation expense	3,586			3,586
Unrealized gain (loss) on short-term investments	61				61
Net loss	(23,124)					(23,124)
Balance at end of period (in shares) at Jun. 30, 2020			32,645,000
Balance at end of period at Jun. 30, 2020	89,111		$ 33	360,396	95	(271,413)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock and exercise of stock options (in shares)			71,000
Issuance of common stock and exercise of stock options	276			276
Stock-based compensation expense	3,529			3,529
Unrealized gain (loss) on short-term investments	(73)				(73)
Net loss	(11,465)					(11,465)
Balance at end of period (in shares) at Sep. 30, 2020			32,716,000
Balance at end of period at Sep. 30, 2020	$ 81,378		$ 33	$ 364,201	$ 22	$ (282,878)
[1]	Amounts have been derived from the December 31, 2019 audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net loss	$ (52,122)	$ (35,037)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	1,467	1,986
Non-cash lease expense	1,623	853
Stock-based compensation expense	11,642	14,615
Amortization of net investment premium (discount)	71	(1,050)
Amortization of debt transaction costs and accretion of debt discount	339	0
Change in fair value of embedded derivatives	795	0
Changes in operating assets and liabilities:
Accounts receivable, net	7,233	6,373
Inventories, net	5,568	(4,997)
Prepaid expenses and other assets	(634)	(1,066)
Accounts payable	555	(771)
Accrued compensation	(1,878)	374
Other liabilities	287	(1,238)
Net cash used in operating activities	(25,054)	(19,958)
Investing activities:
Purchases of short-term investments	(108,831)	(97,863)
Maturities of short-term investments	70,106	111,485
Proceeds from sale of short-term investments	34,794	0
Purchases of property and equipment	(722)	(2,613)
Net cash provided by (used in) investing activities	(4,653)	11,009
Financing activities:
Proceeds from debt financing, net of issuance costs	61,841	0
Proceeds from issuance of common stock and exercise of stock options	4,105	9,839
Net cash provided by financing activities	65,946	9,839
Net increase in cash and cash equivalents	36,239	890
Cash and cash equivalents:
Beginning of the period	20,652	9,464
End of the period	56,891	10,354
Non-cash investing activities:
Right-of-use asset obtained in exchange for lease obligations	0	117
Property and equipment included in accounts payable	82	370
Lessor funded building improvements	$ 0	$ 152

Organization

Organization	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Description of Business Intersect ENT, Inc. (the “Company”) is incorporated in the state of Delaware and its facilities are located in Menlo Park, California. The Company is a commercial drug delivery company transforming care for patients with ear, nose and throat (“ENT”) conditions. The Company’s U.S. Food and Drug Administration (“FDA”) approved products are steroid releasing implants designed to treat patients suffering from chronic sinusitis who are managed by ENT physicians. These products include the PROPEL ® family of products (PROPEL ® , PROPEL ® Mini and PROPEL ® Contour) and the SINUVA ® (mometasone furoate) Sinus Implant. The PROPEL family of products are used in adult patients in conjunction with sinus surgery primarily in hospitals and ambulatory surgery centers (“ASC”) and SINUVA is designed to be used in the physician office setting of care to treat patients who have had ethmoid sinus surgery yet suffer from recurrent sinus obstruction due to polyps. The PROPEL family of products are devices approved under a Premarket Approval (“PMA”) and SINUVA is a drug that was approved under a New Drug Application (“NDA”). In addition, the Company continues to invest in research and development of new products and product improvements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Preparation The condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). These condensed consolidated financial statements include the accounts of the Company and its consolidated subsidiary. All intercompany balances and transactions have been eliminated in consolidation. The interim financial data as of September 30, 2020, is unaudited and is not necessarily indicative of the results for the full year. In the opinion of the Company’s management, the interim data includes only normal and recurring adjustments necessary for a fair presentation of the Company’s financial results for the three and nine months ended September 30, 2020 and 2019. Certain information and disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to SEC rules and regulations relating to interim financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K (“Annual Report”) for the year ended December 31, 2019 filed with the SEC on February 27, 2020. Reclassifications Certain prior year amounts associated with finished goods inventory have been reclassified to work-in-process inventory to conform to the current year presentation. These reclassifications had no impact on net earnings or financial position. Risks and Uncertainties The Company is subject to risks and uncertainties resulting from the COVID-19 pandemic. The Company cannot predict the extent or duration of the impact of the COVID-19 pandemic on its financial and operating results, as the information regarding the current environment is evolving rapidly. The Company’s business has been and will be impacted by its patients’ decisions to undergo sinus surgeries as ENT ASC and office procedure volumes recover, and as the Company resumed its manufacturing operations as a result of the ease of certain restrictions of the shelter-in-place orders issued by local and federal authorities. Furthermore, the COVID-19 pandemic has led to severe disruption and volatility in global capital markets and increased economic uncertainty and instability. The impact of this on the global economy has been and may continue to be severe. The magnitude of the impact of the COVID-19 pandemic on the Company’s business will depend on a number of factors, including, but not limited to: the duration and severity of the pandemic is unknown and could continue longer, and be more severe, than the Company currently expects; the duration, extent and re-occurrence of the shelter-in-place orders impacting its manufacturing operations; the unknown state of the U.S. economy following the pandemic; the level of demand for the Company’s products as the pandemic subsides; and the time it will take for the economy to recover from the pandemic. As of the date of these condensed consolidated financial statements, the extent to which the COVID-19 pandemic may materially adversely impact the Company’s financial results, operating results, or liquidity is uncertain. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. Management uses significant judgment when making estimates related to its revenue related allowances, the allowance for doubtful accounts, inventory, common stock valuation and related stock-based compensation expense, leases, valuation of embedded derivatives associated with the Company’s Convertible Notes (see Note 8) as well as certain accrued liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, including the currently anticipated impact of the COVID-19 pandemic, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Accounting Pronouncements Recently Adopted Accounting Standards Effective January 1, 2020, the Company adopted ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that credit losses be presented as an allowance rather than as a write-down for available-for-sale debt securities and allows for the reversal of estimated credit losses in the current period, aligning the income statement recognition of credit losses with the reporting period in which changes occur. ASU 2016-13 also broadens the information an entity must consider in developing its expected credit loss estimate for assets measured at amortized cost. The adoption of the standard did not result in a material impact to the Company’s condensed consolidated financial statements. Recent Issued Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarified and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company beginning in 2021. Early adoption is permitted. The Company is evaluating the impact of the adoption of ASU 2019-12 on its condensed consolidated financial statements, but does not expect the adoption to have a material impact. In August 2020, the FASB issued ASU No. 2020-06, Debt- Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging- Contracts in Entity’s Own Equity (Subtopic 815-40) ("ASU 2020-06") . ASU 2020-06 modifies and simplifies accounting for convertible instruments. The new guidance eliminates certain separation models that require separating embedded conversion features from convertible instruments. ASU 2020-06 also addresses how convertible instruments are accounted for in the diluted earnings per share calculation. ASU 2020-06 will become effective for the Company beginning in 2022. Early adoption is permitted, but no earlier than the beginning of 2021. The Company is evaluating the impact of the adoption of ASU 2020-06 on its condensed consolidated financial statements, but does not expect the adoption to have a material impact. In October 2020, the FASB issued ASU No. 2020-08, Codification Improvements to Subtopic 310-20, Receivables- Nonrefundable Fees and Other Costs ("ASU 2020-08"). ASU 2020-08 clarifies the accounting for the amortization period for certain purchased callable debt securities held at a premium by giving consideration to securities which have multiple call dates. ASU 2020-08 will become effective for the Company beginning in 2021. Early adoption is not permitted. The Company is evaluating the impact of the adoption of ASU 2020-08 on its condensed consolidated financial statements, but does not expect the adoption to have a material impact. Significant Accounting Policies There have been no significant changes to the accounting policies during the nine months ended September 30, 2020, as compared to the significant accounting policies described in Note 2 of the “Notes to Consolidated Financial Statements” in the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2019, except as described below: Inventories Inventories are valued at the lower of cost, computed on a first-in, first-out basis, or net realizable value. The allocation of production overhead to inventory costs is based on normal production capacity. Abnormal amounts of idle facility expense, freight, handling costs, and consumption are expensed as incurred, and not included in allocable overhead. During the first half of 2020, as a result of a shut-down in production associated with the COVID-19 pandemic for part of the first quarter and throughout the second quarter, the Company recorded $5.5 million for idle facility expense due to its inability to use its manufacturing facility due to the shelter-in-place orders and the Company’s decision to suspend production until the third quarter of 2020. When production resumed, the Company recorded an additional $0.6 million in idle facility expense in the third quarter of 2020 due to subnormal production levels. In periods where the manufacturing is below the Company’s normal capacity, the Company will record idle facility charges. The Company maintains provisions for excess and obsolete inventory based on its estimates of forecasted demand and, where applicable, product expiration. Due to a decline in projected product sales, the Company also increased its reserve for excess and obsolete inventory by $0.8 million during the first quarter of 2020. The Company will continue to monitor the effect of the COVID-19 pandemic on the business and will continue to reassess the need for inventory reserves in future periods. Credit Losses The Company is exposed to credit losses primarily through receivables from customers and distribution partners and through its available-for-sale debt securities. The Company’s expected loss allowance methodology for the receivables is developed using historical collection experience, current and future economic market conditions, a review of the current aging status, and the financial condition of its customers. Specific allowance amounts are established to record the appropriate allowance for customers that have an identified specific risk of default. General allowance amounts are established based upon the Company’s assessment of expected credit losses for its receivables by aging category. Balances are written off when they are ultimately determined to be uncollectible. The Company’s expected loss allowance methodology for the debt securities is developed by reviewing the extent of the unrealized loss, the size, term, geographical location, industry of the issuer, the issuers’ credit ratings and any changes in those ratings, as well as reviewing current and future economic market conditions and the issuers’ current status and financial condition. The Company considered the current and expected future economic and market conditions surrounding the COVID-19 pandemic and increased the overall reserve for credit losses by $0.1 million for the nine months ended September 30, 2020. Restructuring Activities During the nine months ended September 30, 2020, as a response to the COVID-19 pandemic, the Company took pre-emptive actions to curtail spending as its business, revenues, and cash flows have been and are expected to be significantly impacted by the suspension of medical procedures involving its products. These actions included reducing its workforce by 96 employees, or approximately 25% of its workforce. In addition, the Company furloughed 18 employees, or approximately 5% of its workforce, and provided for the cost of certain benefits for those employees while furloughed. The charges related to these actions, including severance benefits for terminated employees and the benefits for furloughed employees, were approximately $0.2 million for the nine months ended September 30, 2020. The restructuring activities are substantially complete and there are no remaining accrued liabilities related to restructuring activities as of September 30, 2020. Embedded Derivatives Related to Convertible Debt Instruments Embedded derivatives that are required to be bifurcated from their host contract are evaluated and valued separately from the debt instrument and classified accordingly depending on the specific terms of the agreement. The embedded features are remeasured to fair value at each balance sheet date with a resulting gain or loss related to the change in the fair value being recorded to “Other Income (Expense), net” on the condensed consolidated statements of operations. Changes in the Company’s assumptions, such as the estimated probability of triggering events and its stock price, used to value the embedded derivatives could result in material changes in the valuation in future periods.

Composition of Certain Financia

Composition of Certain Financial Statement Items	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Composition of Certain Financial Statement Items	Composition of Certain Financial Statement Items Accounts receivable, net (in thousands): September 30, December 31, Accounts receivable $ 12,093 $ 19,244 Allowance for doubtful accounts (213) (131) $ 11,880 $ 19,113 Inventories, net (in thousands): September 30, December 31, Raw materials $ 1,626 $ 2,830 Work-in-process 4,199 5,878 Finished goods 5,333 8,292 $ 11,158 $ 17,000 Capitalized stock-based compensation expense of $0.6 million and $0.9 million was included in inventory as of September 30, 2020 and December 31, 2019, respectively. Operating lease liabilities (in thousands): September 30, December 31, Current portion presented in other current liabilities $ 2,493 $ 1,336 Noncurrent portion presented in operating lease liabilities 8,985 10,886 $ 11,478 $ 12,222 Revenue (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 PROPEL family of products $ 21,051 $ 22,962 $ 49,622 $ 74,257 SINUVA 1,669 1,094 2,704 3,131 $ 22,720 $ 24,056 $ 52,326 $ 77,388

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company measures certain financial assets and liabilities at fair value on a recurring basis, including cash equivalents, short-term investments and embedded derivative liabilities. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A three-tier fair value hierarchy is established as a basis for considering such assumptions and for inputs used in the valuation methodologies in measuring fair value: Level 1 – Observable inputs such as quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Other inputs that are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant inputs are observable in the market or can be derived from observable market data. Level 3 – Unobservable inputs that are supported by little or no market activities, which would require the Company to develop its own assumptions. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The fair value of debt is based on the amount of future cash flows associated with the instrument discounted using the Company’s estimated market rate as well as a convertible lattice model for the embedded features. As of September 30, 2020, the fair value of the Company’s Convertible Notes (see Note 8) was $78.7 million. Cash, Cash Equivalents and Short-term Investments The following is a summary of cash, cash equivalents and short-term investments, by type of instrument measured at fair value on a recurring basis (in thousands): Reported as: Amortized Gross Unrealized Estimated Cash and cash Short-term September 30, 2020 Gains Losses Level 1: Cash $ 47,313 $ — $ — $ 47,313 $ 47,313 $ — Money market funds 9,578 — — 9,578 9,578 — 56,891 — — 56,891 56,891 — Level 2: U.S. treasury bills 40,912 7 — 40,919 — 40,919 Corporate debt securities 8,379 4 — 8,383 — 8,383 U.S. government agency bonds 23,007 6 — 23,013 — 23,013 Commercial paper 1,495 5 — 1,500 — 1,500 73,793 22 — 73,815 — 73,815 $ 130,684 $ 22 $ — $ 130,706 $ 56,891 $ 73,815 Reported as: Amortized Gross Unrealized Estimated Cash and cash Short-term December 31, 2019 Gains Losses Level 1: Cash $ 11,885 $ — $ — $ 11,885 $ 11,885 $ — Money market funds 8,767 — — 8,767 8,767 — 20,652 — — 20,652 20,652 — Level 2: Corporate debt securities 50,137 33 (1) 50,169 — 50,169 Commercial paper 19,796 21 — 19,817 — 19,817 69,933 54 (1) 69,986 — 69,986 $ 90,585 $ 54 $ (1) $ 90,638 $ 20,652 $ 69,986 There were no transfers in and out of Level 1 and Level 2 during the nine months ended September 30, 2020 and year ended December 31, 2019. As of September 30, 2020 and December 31, 2019, the Company had no investments with a remaining maturity of greater than one year. Based on an evaluation of securities that have been in a loss position, the Company did not recognize any other-than-temporary impairment charges during the nine months ended September 30, 2020 and year ended December 31, 2019. The Company considered various factors which included a credit and liquidity assessment of the underlying securities and the Company’s intent and ability to hold the underlying securities until the estimated date of recovery of its amortized cost. The Company concluded that any unrealized losses on investments as of September 30, 2020 were not attributed to credit. Convertible Notes Embedded Derivatives The Convertible Notes due in 2025 (see Note 8) have embedded features which were required to be bifurcated upon issuance and then periodically remeasured separately as embedded derivatives. These embedded features include additional make-whole interest payments which may become payable to the lender upon certain events, such as a change in control, upon optional redemption by the Company, or a sale of all or substantially all of the Company’s assets. The embedded features also include additional shares depending on the time to maturity and the stock price which may be added to an early conversion upon certain events. The Company has utilized a convertible lattice model to determine the fair value of the embedded features, which utilizes inputs including the common stock price, volatility of common stock, credit rating, probability of certain triggering events and time to maturity. The fair value measurements of the embedded derivatives are classified as Level 3 financial instruments. At September 30, 2020, the fair value of the embedded features was $2.6 million and has been presented together with the Convertible Notes host instrument on the condensed consolidated balance sheets. Changes in the fair value of the Company’s Level 3 liabilities were as follows: September 30, Balance at December 31, 2019 $ — Additions 1,800 Fair value adjustment 795 Balance at September 30, 2020 $ 2,595

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Series DF-1 Convertible Preferred Stock The Company’s board of directors has designated 6,310 shares of the authorized 10,000,000 shares of preferred stock, $0.001 par value per share, as Series DF-1 Convertible Preferred Stock (the “Series DF-1 Preferred Stock”). Each share of Series DF-1 Preferred Stock is non-voting and convertible to 1,000 shares of the Company’s Common Stock. There is an aggregate of 6,309,459 shares of common stock issuable upon conversion of the Series DF-1 Preferred Stock. The Series DF-1 Preferred Stock does not have voting rights but is eligible for dividends or distributions on an as-converted basis.

Stock-based Compensation Expens

Stock-based Compensation Expense	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-based Compensation Expense	Stock-based Compensation Expense 2014 Equity Incentive Plan In July 2014, the Company’s board of directors approved the 2014 Equity Incentive Plan (the “2014 Plan”). The number of shares of common stock reserved for issuance under the 2014 Plan will automatically increase on January 1 of each year, beginning on January 1, 2015, and continuing through and including January 1, 2024, by 3% of the total number of shares of the Company’s capital stock outstanding on December 31 of the preceding calendar year, or a lesser number of shares determined by the Company’s board of directors. On January 1, 2020, the total number of shares of common stock reserved for issuance increased by 967,064 shares to 9,934,768 shares reserved since the inception of the 2014 Plan. At September 30, 2020, 3,391,263 shares remained available for issuance. A summary of the Company’s stock option activity and related information (options in thousands): Nine Months Ended Options Weighted Average Outstanding, beginning of period 3,636 $ 23.71 Granted 895 21.87 Exercised (208) 16.49 Forfeited (823) 27.89 Outstanding, end of period 3,500 22.68 Exercisable 1,754 22.17 As of September 30, 2020, included in the outstanding options was an option subject to both service and market-based vesting conditions to purchase 427,147 shares of the Company’s common stock with an exercise price of $20.44. As of September 30, 2020, these stock options remain unvested. The aggregate pre-tax intrinsic value of options outstanding was $2.8 million and options outstanding and exercisable was $2.1 million, the weighted-average remaining contractual term of options outstanding was 7.8 years and options outstanding and exercisable was 6.6 years. The aggregate pre-tax intrinsic value of options exercised was $1.3 million and $8.8 million during the nine months ended September 30, 2020 and 2019, respectively. A summary of the Company’s RSU activity and related information (RSUs in thousands): Nine Months Ended RSUs Weighted Average Outstanding, beginning of period 511 $ 25.62 Awarded 294 24.03 Vested (202) 24.18 Forfeited (119) 28.39 Outstanding, end of period 484 24.57 As of September 30, 2020, the aggregate pre-tax intrinsic value of RSUs outstanding was $7.9 million, calculated based on the closing price of the Company’s common stock at the end of the period, and the weighted-average remaining vesting term of RSUs outstanding was 1.9 years. The Company also offers Performance Stock Units (“PSUs”), subject to both service and market-based vesting conditions. A summary of the Company’s PSU activity and related information (PSUs in thousands): Nine Months Ended PSUs Weighted Average Outstanding, beginning of period 89 $ 14.22 Awarded 103 17.28 Forfeited (19) 17.28 Outstanding, end of period 173 15.70 As of September 30, 2020, the aggregate pre-tax intrinsic value of PSUs outstanding was $2.8 million, calculated based on the closing price of the Company’s common stock at the end of the period, and the weighted-average remaining vesting term of PSUs outstanding was 2.3 years. Total stock-based compensation expense recognized is as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Cost of sales $ 446 $ 354 $ 1,221 $ 836 Selling, general and administrative 2,790 4,021 9,204 11,435 Research and development 417 874 1,217 2,344 $ 3,653 $ 5,249 $ 11,642 $ 14,615 As of September 30, 2020, the amount of unearned stock-based compensation currently estimated to be expensed through the year 2024 related to unvested employee stock-based awards was $28.0 million and the weighted average period over which the unearned stock-based compensation is expected to be recognized was 2.4 years. 2014 Employee Stock Purchase Plan

Net Loss per Share

Net Loss per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Net Loss per Share	Net Loss per Share Basic net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock and common stock equivalent shares from dilutive stock options, employee stock purchases and restricted stock units outstanding during the period. Because the Company has reported a net loss for all periods presented, diluted net loss per share is the same as basic net loss per share for those periods as all potentially dilutive securities were antidilutive in those periods. The following potentially dilutive securities outstanding have been excluded from the computations of weighted average shares outstanding because such securities have an antidilutive impact due to losses reported (in common stock equivalent shares, in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Common stock options 3,073 3,817 3,073 3,817 Market-based performance stock options 427 427 427 427 Restricted stock units 484 606 484 606 Market-based performance stock units 173 — 173 — Employee stock purchase plan shares 72 75 72 75 Stock issuable upon conversion of convertible note 6,309 — 6,309 — 10,538 4,925 10,538 4,925 The Company uses the if-converted method for calculating any potential dilutive effects of the convertible note. The Company did not adjust the net loss for the three and nine months ended September 30, 2020 to eliminate any interest expense related to the Convertible Notes (see Note 8) in the computation of diluted loss per share, or calculate the potential common shares from conversion, as the effects would have been anti-dilutive. The shares presented above represent the maximum number of convertible shares which can be issued subject to the make-whole increase to the conversion rate upon certain events.

Convertible Notes

Convertible Notes	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Convertible Notes	Convertible Notes On May 11, 2020, in order to finance the Company’s commercial activities as well as for general corporate purposes, the Company entered into a Facility Agreement (the “Facility Agreement”) by and among the Company, as borrower, and Deerfield Partners, L.P. (“Deerfield”), as agent for itself and the lenders, providing for the issuance and sale by the Company to Deerfield of $65.0 million of principal amount of 4.0% unsecured senior convertible notes (the “Convertible Notes”) upon the terms and conditions set forth in the Facility Agreement (the “Deerfield Financing”). The $65.0 million principal amount of the Convertible Notes is not payable until the maturity date of May 9, 2025, unless earlier converted or redeemed. The Convertible Notes are convertible into shares of the Company’s common stock, at a conversion rate of 64.3501 shares per $1,000 principal amount of Convertible Notes, which represents an initial conversion price of $15.54. The net proceeds from the sale of the Convertible Notes were approximately $61.8 million after deducting the expenses payable by the Company. The Convertible Notes bear interest at 4.0% per annum, payable quarterly in arrears on July 1, October 1, January 1 and April 1 of each year, commencing July 1, 2020. The Convertible Notes are convertible at any time at the option of the holders thereof, provided that Deerfield is prohibited from converting the Convertible Notes into shares of common stock if, as a result of such conversion, the converting holder (together with certain affiliates and “group” members) would beneficially own more than 4.985% of the total number of shares of common stock then issued and outstanding (the “Beneficial Ownership Cap”). Pursuant to the Convertible Notes, the holders of the Convertible Notes have the option to demand repayment of all outstanding principal, any unpaid interest accrued thereon, and make-whole interest in connection with a Major Transaction (as defined in the Convertible Notes), which shall include, among others, any acquisition or other change of control of the Company; the sale or transfer of assets of the Company equal to more than 50% of the Enterprise Value (as defined in the Convertible Notes) of the Company; a liquidation, bankruptcy or other dissolution of the Company; or if at any time shares of the Company’s common stock are not listed on an Eligible Market (as defined in the Convertible Notes). The Facility Agreement contains certain specified events of default, the occurrence of which would entitle the holders of the Convertible Notes to immediately demand repayment of all outstanding principal and accrued interest on the Convertible Notes, together with a make-whole payment as determined pursuant to the Facility Agreement. Such events of default include, among others, failure to make any payment under the Convertible Notes when due, failure to observe or perform any covenant under the Facility Agreement or the other transaction documents related thereto (subject in certain cases to specified cure periods), the failure of the Company to be able to pay debts as they come due, the commencement of bankruptcy or insolvency proceedings against the Company, a material judgment levied against the Company and a material default by the Company under other indebtedness. On or after the date that is the second anniversary of the issuance date, the Company may redeem up to $32.5 million of the principal amount of Convertible Notes if: • the volume weighted average price of the common stock on each of any twenty (20) trading days during a period of thirty (30) consecutive trading days ending on the date which an optional redemption notice is delivered; • the volume weighted average price of the common stock on the last trading day of such period; and • the closing price of the common stock on the last trading day of such period, in each case, are greater than 150% of the conversion price. On or after the date that is the third anniversary of the issuance date, the Company may redeem up to the entire $65.0 million original principal amount of Convertible Notes if: • the volume weighted average price of the common stock on each of any twenty (20) trading days during a period of thirty (30) consecutive trading days ending on the date which an optional redemption notice is delivered; • the volume weighted average price of the common stock on the last trading day of such period; and • the closing price of the common stock on the last trading day of such period, in each case, are greater than 200% of the conversion price. The Company is obligated to notify the holders of the Convertible Notes no less than ten trading days nor more than sixty calendar days prior to any such redemption. During the period from the date on which the Company delivers an optional redemption notice until the date the optional redemption price is paid to holders, if a holder elects to convert its Convertible Notes, it will receive the shares otherwise issuable upon conversion of the Convertible Notes, plus an additional number of shares determined in accordance with the Convertible Notes. To the extent the holder would be prohibited due to the Beneficial Ownership Cap to convert its Convertible Notes during such period, such holder would be entitled to convert all or any portion of its Convertible Notes into shares of Series DF-1 Preferred Stock of the Company (such conversion, a “Preferred Stock Conversion”). The number of Series DF-1 Preferred Stock issuable upon a Preferred Stock Conversion shall be determined by dividing the number of shares of common stock of the Company that it would be entitled to receive from such conversion by 1,000. See Note 5 for discussion on the rights and privileges of Series DF-1 Preferred Stock. Upon any conversion of the Convertible Notes in connection with a major transaction, redemption of the Convertible Notes in connection with a major transaction or an optional redemption, holders of the Convertible Notes will also be entitled to a make-whole increase to the conversion rate or make-whole interest provision. The Company is subject to a number of affirmative and restrictive covenants pursuant to the Facility Agreement, including covenants regarding compliance with applicable laws and regulations, maintenance of property, payment of taxes, maintenance of insurance, business combinations, incurrence of additional indebtedness, prepayments of other unsecured indebtedness and transactions with affiliates, among other covenants. The Company is also restricted from paying dividends or making other distributions or payments on its capital stock, subject to limited exceptions. Certain features in the Convertible Notes are accounted for as embedded derivatives bifurcated from the principal balance of the Convertible Notes. See Note 4 for further discussion on the valuation of the embedded derivatives. Upon issuance, the fair value of the embedded derivatives was $1.8 million. A corresponding convertible debt discount and transaction costs of $1.8 million and $3.0 million, respectively were recorded on the issuance date and are netted against the principal amount of the convertible notes. During the three months ended September 30, 2020, an additional $0.2 million of transaction costs were recorded and netted against the principal amount of the convertible notes. Transaction costs related to the issuance of the convertible notes primarily comprised of underwriters’, legal, accounting and other professional fees. As of September 30, 2020, the net carrying amount of the convertible notes is as follows: September 30, Outstanding principal amount of convertible notes $ 65,000 Unamortized debt discount and transaction costs (4,620) Fair value of embedded derivatives 2,595 Convertible notes, net $ 62,975 The convertible debt discount and transaction costs are being amortized to expense over the term of the Notes. For the three and nine months ended September 30, 2020, the accretion of the convertible debt discount and amortization of debt issuance costs was $0.2 million and $0.3 million, respectively, and was included in “Interest expense” in the condensed consolidated statements of operations. The accrued interest on the outstanding principal of $65.0 million as of September 30, 2020 was $0.7 million and was included in “Other current liabilities” on the condensed consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company may at times be involved in litigation and other legal claims in the ordinary course of business. When appropriate in the Company’s estimation, it may record reserves in its financial statements for pending litigation and other claims. In May 2019, a purported stockholder of the Company, Avi Yaron, filed a putative class action complaint in the United States District Court for the Northern District of California, entitled Yaron v. Intersect ENT, Inc., et al.,

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn October 2, 2020, in accordance with the terms of the sale and purchase agreement (the "Purchase Agreement"), the Company acquired Fiagon AG Medical Technologies ("Fiagon"). Fiagon develops, and commercializes globally, innovative electromagnetic surgical navigation systems and an associated suite of surgical tools targeted to the ENT surgical space. Pursuant to the terms of the Purchase Agreement, the Company indirectly acquired all of the outstanding equity interests of subsidiaries of Fiagon, including Fiagon GmbH and Fiagon NA Corporation (such subsidiaries, together with Fiagon, the "Fiagon Group" and, such acquisition, the "Acquisition"). The aggregate consideration payable in exchange for all of the outstanding equity interests of the Fiagon Group is €60.0 million, subject to adjustments set forth in the Purchase Agreement (the "Cash Consideration"). Under the terms of the Purchase Agreement, the Company made an initial €15.0 million payment at the time of closing of the Acquisition, and the Company committed to make €15.0 million annual payments for each of the subsequent three years.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Preparation	Basis of Preparation The condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). These condensed consolidated financial statements include the accounts of the Company and its consolidated subsidiary. All intercompany balances and transactions have been eliminated in consolidation. The interim financial data as of September 30, 2020, is unaudited and is not necessarily indicative of the results for the full year. In the opinion of the Company’s management, the interim data includes only normal and recurring adjustments necessary for a fair presentation of the Company’s financial results for the three and nine months ended September 30, 2020 and 2019. Certain information and disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to SEC rules and regulations relating to interim financial statements. The accompanying condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K (“Annual Report”) for the year ended December 31, 2019 filed with the SEC on February 27, 2020.
Reclassifications	ReclassificationsCertain prior year amounts associated with finished goods inventory have been reclassified to work-in-process inventory to conform to the current year presentation.
Risks and Uncertainties	Risks and Uncertainties The Company is subject to risks and uncertainties resulting from the COVID-19 pandemic. The Company cannot predict the extent or duration of the impact of the COVID-19 pandemic on its financial and operating results, as the information regarding the current environment is evolving rapidly. The Company’s business has been and will be impacted by its patients’ decisions to undergo sinus surgeries as ENT ASC and office procedure volumes recover, and as the Company resumed its manufacturing operations as a result of the ease of certain restrictions of the shelter-in-place orders issued by local and federal authorities. Furthermore, the COVID-19 pandemic has led to severe disruption and volatility in global capital markets and increased economic uncertainty and instability. The impact of this on the global economy has been and may continue to be severe.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts and disclosures reported in the financial statements. Management uses significant judgment when making estimates related to its revenue related allowances, the allowance for doubtful accounts, inventory, common stock valuation and related stock-based compensation expense, leases, valuation of embedded derivatives associated with the Company’s Convertible Notes (see Note 8) as well as certain accrued liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, including the currently anticipated impact of the COVID-19 pandemic, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates.
Recent Accounting Pronouncements	Accounting Pronouncements Recently Adopted Accounting Standards Effective January 1, 2020, the Company adopted ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). ASU 2016-13 requires that credit losses be presented as an allowance rather than as a write-down for available-for-sale debt securities and allows for the reversal of estimated credit losses in the current period, aligning the income statement recognition of credit losses with the reporting period in which changes occur. ASU 2016-13 also broadens the information an entity must consider in developing its expected credit loss estimate for assets measured at amortized cost. The adoption of the standard did not result in a material impact to the Company’s condensed consolidated financial statements. Recent Issued Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"), which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarified and amends existing guidance to improve consistent application. ASU 2019-12 is effective for the Company beginning in 2021. Early adoption is permitted. The Company is evaluating the impact of the adoption of ASU 2019-12 on its condensed consolidated financial statements, but does not expect the adoption to have a material impact. In August 2020, the FASB issued ASU No. 2020-06, Debt- Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging- Contracts in Entity’s Own Equity (Subtopic 815-40) ("ASU 2020-06") . ASU 2020-06 modifies and simplifies accounting for convertible instruments. The new guidance eliminates certain separation models that require separating embedded conversion features from convertible instruments. ASU 2020-06 also addresses how convertible instruments are accounted for in the diluted earnings per share calculation. ASU 2020-06 will become effective for the Company beginning in 2022. Early adoption is permitted, but no earlier than the beginning of 2021. The Company is evaluating the impact of the adoption of ASU 2020-06 on its condensed consolidated financial statements, but does not expect the adoption to have a material impact. In October 2020, the FASB issued ASU No. 2020-08, Codification Improvements to Subtopic 310-20, Receivables- Nonrefundable Fees and Other Costs
Inventories	InventoriesInventories are valued at the lower of cost, computed on a first-in, first-out basis, or net realizable value. The allocation of production overhead to inventory costs is based on normal production capacity. Abnormal amounts of idle facility expense, freight, handling costs, and consumption are expensed as incurred, and not included in allocable overhead.
Credit Losses	Credit LossesThe Company is exposed to credit losses primarily through receivables from customers and distribution partners and through its available-for-sale debt securities. The Company’s expected loss allowance methodology for the receivables is developed using historical collection experience, current and future economic market conditions, a review of the current aging status, and the financial condition of its customers. Specific allowance amounts are established to record the appropriate allowance for customers that have an identified specific risk of default. General allowance amounts are established based upon the Company’s assessment of expected credit losses for its receivables by aging category. Balances are written off when they are ultimately determined to be uncollectible. The Company’s expected loss allowance methodology for the debt securities is developed by reviewing the extent of the unrealized loss, the size, term, geographical location, industry of the issuer, the issuers’ credit ratings and any changes in those ratings, as well as reviewing current and future economic market conditions and the issuers’ current status and financial condition.
Embedded Derivatives Related to Convertible Debt Instruments	Embedded Derivatives Related to Convertible Debt Instruments Embedded derivatives that are required to be bifurcated from their host contract are evaluated and valued separately from the debt instrument and classified accordingly depending on the specific terms of the agreement. The embedded features are remeasured to fair value at each balance sheet date with a resulting gain or loss related to the change in the fair value being recorded to “Other Income (Expense), net” on the condensed consolidated statements of operations. Changes in the Company’s assumptions, such as the estimated probability of triggering events and its stock price, used to value the embedded derivatives could result in material changes in the valuation in future periods.

Composition of Certain Financ_2

Composition of Certain Financial Statement Items (Tables)	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts Receivable	Accounts receivable, net (in thousands): September 30, December 31, Accounts receivable $ 12,093 $ 19,244 Allowance for doubtful accounts (213) (131) $ 11,880 $ 19,113
Components of Inventory	Inventories, net (in thousands): September 30, December 31, Raw materials $ 1,626 $ 2,830 Work-in-process 4,199 5,878 Finished goods 5,333 8,292 $ 11,158 $ 17,000
Schedule of Operating Leases Liabilities	Operating lease liabilities (in thousands): September 30, December 31, Current portion presented in other current liabilities $ 2,493 $ 1,336 Noncurrent portion presented in operating lease liabilities 8,985 10,886 $ 11,478 $ 12,222
Disaggregation of Revenue	Revenue (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 PROPEL family of products $ 21,051 $ 22,962 $ 49,622 $ 74,257 SINUVA 1,669 1,094 2,704 3,131 $ 22,720 $ 24,056 $ 52,326 $ 77,388

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Summary of Cash, Cash Equivalents and Available-for-Sale Investments Measured at Fair Value on Recurring Basis	The following is a summary of cash, cash equivalents and short-term investments, by type of instrument measured at fair value on a recurring basis (in thousands): Reported as: Amortized Gross Unrealized Estimated Cash and cash Short-term September 30, 2020 Gains Losses Level 1: Cash $ 47,313 $ — $ — $ 47,313 $ 47,313 $ — Money market funds 9,578 — — 9,578 9,578 — 56,891 — — 56,891 56,891 — Level 2: U.S. treasury bills 40,912 7 — 40,919 — 40,919 Corporate debt securities 8,379 4 — 8,383 — 8,383 U.S. government agency bonds 23,007 6 — 23,013 — 23,013 Commercial paper 1,495 5 — 1,500 — 1,500 73,793 22 — 73,815 — 73,815 $ 130,684 $ 22 $ — $ 130,706 $ 56,891 $ 73,815 Reported as: Amortized Gross Unrealized Estimated Cash and cash Short-term December 31, 2019 Gains Losses Level 1: Cash $ 11,885 $ — $ — $ 11,885 $ 11,885 $ — Money market funds 8,767 — — 8,767 8,767 — 20,652 — — 20,652 20,652 — Level 2: Corporate debt securities 50,137 33 (1) 50,169 — 50,169 Commercial paper 19,796 21 — 19,817 — 19,817 69,933 54 (1) 69,986 — 69,986 $ 90,585 $ 54 $ (1) $ 90,638 $ 20,652 $ 69,986
Summary of Changes in the Fair Value of Derivative Liabilities	Changes in the fair value of the Company’s Level 3 liabilities were as follows: September 30, Balance at December 31, 2019 $ — Additions 1,800 Fair value adjustment 795 Balance at September 30, 2020 $ 2,595

Stock-based Compensation Expe_2

Stock-based Compensation Expense (Tables)	9 Months Ended
	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Activity	A summary of the Company’s stock option activity and related information (options in thousands): Nine Months Ended Options Weighted Average Outstanding, beginning of period 3,636 $ 23.71 Granted 895 21.87 Exercised (208) 16.49 Forfeited (823) 27.89 Outstanding, end of period 3,500 22.68 Exercisable 1,754 22.17
Summary of Restricted Stock Units Activity	A summary of the Company’s RSU activity and related information (RSUs in thousands): Nine Months Ended RSUs Weighted Average Outstanding, beginning of period 511 $ 25.62 Awarded 294 24.03 Vested (202) 24.18 Forfeited (119) 28.39 Outstanding, end of period 484 24.57
Summary of Performance Stock Units Activity	A summary of the Company’s PSU activity and related information (PSUs in thousands): Nine Months Ended PSUs Weighted Average Outstanding, beginning of period 89 $ 14.22 Awarded 103 17.28 Forfeited (19) 17.28 Outstanding, end of period 173 15.70
Summary of Stock Based Compensation Expense	Total stock-based compensation expense recognized is as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Cost of sales $ 446 $ 354 $ 1,221 $ 836 Selling, general and administrative 2,790 4,021 9,204 11,435 Research and development 417 874 1,217 2,344 $ 3,653 $ 5,249 $ 11,642 $ 14,615

Net Loss per Share (Tables)

Net Loss per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following potentially dilutive securities outstanding have been excluded from the computations of weighted average shares outstanding because such securities have an antidilutive impact due to losses reported (in common stock equivalent shares, in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Common stock options 3,073 3,817 3,073 3,817 Market-based performance stock options 427 427 427 427 Restricted stock units 484 606 484 606 Market-based performance stock units 173 — 173 — Employee stock purchase plan shares 72 75 72 75 Stock issuable upon conversion of convertible note 6,309 — 6,309 — 10,538 4,925 10,538 4,925

Convertible Notes (Tables)

Convertible Notes (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of Net Carrying Amount of the Convertible Notes	As of September 30, 2020, the net carrying amount of the convertible notes is as follows: September 30, Outstanding principal amount of convertible notes $ 65,000 Unamortized debt discount and transaction costs (4,620) Fair value of embedded derivatives 2,595 Convertible notes, net $ 62,975

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2020USD ($)employee
Summary Of Significant Accounting Policies [Line Items]
Idle expenses in inventory	$ 0.6		$ 5.5
Inventory reserve		$ 0.8
Increase in reserve for credit losses				$ 0.1
Employee Severance
Summary Of Significant Accounting Policies [Line Items]
Employee severance cost				$ 0.2
Employee Severance | Employee Termination
Summary Of Significant Accounting Policies [Line Items]
Reduction of labor force | employee				96
Percentage in reduction of labor force				25.00%
Employee Severance | Furloughed Employees
Summary Of Significant Accounting Policies [Line Items]
Reduction of labor force | employee				18
Percentage in reduction of labor force				5.00%

Composition of Certain Financ_3

Composition of Certain Financial Statement Items - Accounts Receivable (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable	$ 12,093	$ 19,244
Allowance for doubtful accounts	(213)	(131)
Accounts receivable, net	$ 11,880	$ 19,113	[1]
[1]	Amounts have been derived from the December 31, 2019 audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Composition of Certain Financ_4

Composition of Certain Financial Statement Items - Components of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 1,626	$ 2,830
Work-in-process	4,199	5,878
Finished goods	5,333	8,292
Inventory	$ 11,158	$ 17,000	[1]
[1]	Amounts have been derived from the December 31, 2019 audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Composition of Certain Financ_5

Composition of Certain Financial Statement Items - Additional Information (Detail) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Share-based payment arrangement, amount capitalized	$ 0.6	$ 0.9

Composition of Certain Financ_6

Composition of Certain Financial Statement Items - Operating Lease Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Current portion presented in other current liabilities	$ 2,493	$ 1,336
Noncurrent portion presented in operating lease liabilities	8,985	10,886	[1]
Total	$ 11,478	$ 12,222
[1]	Amounts have been derived from the December 31, 2019 audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Composition of Certain Financ_7

Composition of Certain Financial Statement Items - Disaggregation of Revenue (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Revenue	$ 22,720	$ 24,056	$ 52,326	$ 77,388
PROPEL family of products
Disaggregation of Revenue [Line Items]
Revenue	21,051	22,962	49,622	74,257
SINUVA
Disaggregation of Revenue [Line Items]
Revenue	$ 1,669	$ 1,094	$ 2,704	$ 3,131

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Cash, Cash Equivalents and Short-Term Investments Available-for-Sale, by Type of Instrument (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Net Investment Income [Line Items]
Cash and cash equivalents	$ 56,891	$ 20,652	[1]
Short-term investments	73,815	69,986	[1]
Fair Value, Recurring
Net Investment Income [Line Items]
Cash and cash equivalents	56,891	20,652
Cash and cash equivalents and short-term securities, available for sale, amortized cost	130,684	90,585
Gross Unrealized, Gains	22	54
Gross Unrealized, Losses	0	(1)
Cash and cash equivalents and short-term investments, available for sale	130,706	90,638
Short-term investments	73,815	69,986
Fair Value, Recurring | Level 1:
Net Investment Income [Line Items]
Cash and cash equivalents	56,891	20,652
Fair Value, Recurring | Level 1: | Cash
Net Investment Income [Line Items]
Cash and cash equivalents	47,313	11,885
Fair Value, Recurring | Level 1: | Money market funds
Net Investment Income [Line Items]
Cash and cash equivalents	9,578	8,767
Fair Value, Recurring | Level 2:
Net Investment Income [Line Items]
Amortized Cost	73,793	69,933
Gross Unrealized, Gains	22	54
Gross Unrealized, Losses	0	(1)
Estimated Fair Value	73,815	69,986
Short-term investments	73,815	69,986
U.S. treasury bills | Fair Value, Recurring | Level 2:
Net Investment Income [Line Items]
Amortized Cost	40,912
Gross Unrealized, Gains	7
Gross Unrealized, Losses	0
Estimated Fair Value	40,919
Short-term investments	40,919
Corporate debt securities | Fair Value, Recurring | Level 2:
Net Investment Income [Line Items]
Amortized Cost	8,379	50,137
Gross Unrealized, Gains	4	33
Gross Unrealized, Losses	0	(1)
Estimated Fair Value	8,383	50,169
Short-term investments	8,383	50,169
U.S. government agency bonds | Fair Value, Recurring | Level 2:
Net Investment Income [Line Items]
Amortized Cost	23,007
Gross Unrealized, Gains	6
Gross Unrealized, Losses	0
Estimated Fair Value	23,013
Short-term investments	23,013
Commercial paper | Fair Value, Recurring | Level 2:
Net Investment Income [Line Items]
Amortized Cost	1,495	19,796
Gross Unrealized, Gains	5	21
Gross Unrealized, Losses	0	0
Estimated Fair Value	1,500	19,817
Short-term investments	$ 1,500	$ 19,817
[1]	Amounts have been derived from the December 31, 2019 audited consolidated financial statements included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission.

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of changes in the fair value of derivative liabilities (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Embedded Derivative Liability [Roll Forward]
Fair value adjustment	$ 795	$ 0
Ending balance	2,600
Fair Value, Inputs, Level 3
Embedded Derivative Liability [Roll Forward]
Beginning balance	0
Additions	1,800
Fair value adjustment	795
Ending balance	$ 2,595

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair value of the derivative liabilities	$ 78,700,000	$ 78,700,000
Investments with a contractual maturity of greater than one year	0	0	$ 0
Fair value of embedded derivatives	2,600,000	2,600,000
Embedded derivative, gain on embedded derivative	$ 1,000,000
Embedded derivative, loss on embedded derivative		$ 800,000

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	9,994,000	10,000,000
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Series DF-1 Convertible Preferred Stock
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)	6,310	0
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Number of common shares issuable per converted share (in shares)	1,000
Conversion of stock, shares issuable (in shares)	6,309,459

Stock-based Compensation Expe_3

Stock-based Compensation Expense - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	Jan. 01, 2020	Sep. 30, 2018	Jul. 31, 2014	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares outstanding			3.00%
Common stock, capital shares reserved for future issuance, increase during period (in shares)	967,064
Shares reserved for issuance (in shares)	9,934,768			3,391,263
Unearned stock-based compensation				$ 28
Weighted average period for unearned stock-based compensation to be recognized				2 years 4 months 24 days
Common stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)				895,000
Options price, granted (in usd per share)				$ 21.87
Aggregate intrinsic value of options outstanding				$ 2.8
Aggregate intrinsic value of options outstanding and exercisable				$ 2.1
Weighted-average remaining contractual term of options outstanding				7 years 9 months 18 days
Weighted-average remaining contractual term of options exercisable				6 years 7 months 6 days
Aggregate intrinsic value of options exercised				$ 1.3	$ 8.8
Market Based Vesting Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)				427,147
Options price, granted (in usd per share)				$ 20.44
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value, outstanding				$ 7.9
Weighted-average remaining contractual term, outstanding				1 year 10 months 24 days
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value, outstanding				$ 2.8
Weighted-average remaining contractual term, outstanding				2 years 3 months 18 days
Employee stock purchase plan shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance, increase during period (in shares)		1,200,000
Shares reserved for issuance (in shares)				959,970
Shares authorized for future issuance (in shares)		1,696,092	496,092
Shares Issued (in shares)				70,817

Stock-based Compensation Expe_4

Stock-based Compensation Expense - Summary of Stock Option Activity (Detail) - Common stock options - $ / shares shares in Thousands	9 Months Ended
	Sep. 30, 2020
Options
Outstanding, beginning of period (in shares)	3,636
Granted (in shares)	895
Exercised (in shares)	(208)
Forfeited (in shares)	(823)
Outstanding, end of period (in shares)	3,500
Exercisable (in shares)	1,754
Weighted Average Exercise Price
Outstanding, beginning of period (in usd per share)	$ 23.71
Granted (in usd per share)	21.87
Exercised (in usd per share)	16.49
Forfeited (in usd per share)	27.89
Outstanding, end of period (in usd per share)	22.68
Exercisable (in usd per share)	$ 22.17

Stock-based Compensation Expe_5

Stock-based Compensation Expense - Summary of Restricted Stock Units Activity (Detail) - Restricted stock units shares in Thousands	9 Months Ended
	Sep. 30, 2020$ / sharesshares
RSUs
Outstanding, beginning of period (in shares) | shares	511
Awarded (in shares) | shares	294
Vested (in shares) | shares	(202)
Forfeited (in shares) | shares	(119)
Outstanding, end of period (in shares) | shares	484
Weighted Average Fair Value
Outstanding, beginning of period (in usd per share) | $ / shares	$ 25.62
Awarded (in usd per share) | $ / shares	24.03
Vested (in usd per share) | $ / shares	24.18
Forfeited (in usd per share) | $ / shares	28.39
Outstanding, end of period (in usd per share) | $ / shares	$ 24.57

Stock-based Compensation Expe_6

Stock-based Compensation Expense - Summary of Performance Stock Unit Activity (Detail) - Performance Shares shares in Thousands	9 Months Ended
	Sep. 30, 2020$ / sharesshares
RSUs
Outstanding, beginning of period (in shares) | shares	89
Awarded (in shares) | shares	103
Forfeited (in shares) | shares	(19)
Outstanding, end of period (in shares) | shares	173
Weighted Average Fair Value
Outstanding, beginning of period (in usd per share) | $ / shares	$ 14.22
Awarded (in usd per share) | $ / shares	17.28
Forfeited (in usd per share) | $ / shares	17.28
Outstanding, end of period (in usd per share) | $ / shares	$ 15.70

Stock-based Compensation Expe_7

Stock-based Compensation Expense - Summary of Stock Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 3,653	$ 5,249	$ 11,642	$ 14,615
Cost of sales
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	446	354	1,221	836
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,790	4,021	9,204	11,435
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 417	$ 874	$ 1,217	$ 2,344

Net Loss per Share - Schedule o

Net Loss per Share - Schedule of Potentially Dilutive Securities Outstanding Excluded from the Computations of Diluted Weighted Average Shares Outstanding (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	10,538	4,925	10,538	4,925
Common stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	3,073	3,817	3,073	3,817
Market-based performance stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	427	427	427	427
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	484	606	484	606
Market-based performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	173	0	173	0
Employee stock purchase plan shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	72	75	72	75
Stock issuable upon conversion of convertible note
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	6,309	0	6,309	0

Convertible Notes- Additional I

Convertible Notes- Additional Information (Detail)	May 11, 2020USD ($)day$ / shares	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)
Debt Instrument [Line Items]
Amortization of the convertible debt discount and issuance costs			$ 339,000	$ 0
Embedded Derivative Financial Instruments
Debt Instrument [Line Items]
Embedded derivative liability		$ 1,800,000	1,800,000
Convertible Debt
Debt Instrument [Line Items]
Face amount of debt	$ 65,000,000
Interest rate	4.00%
Long-term debt	$ 61,800,000	62,975,000	62,975,000
Debt instrument, convertible, conversion ratio	0.0643501
Debt instrument, convertible, conversion price (in usd per share) | $ / shares	$ 15.54
Percentage of shares held after conversion of convertible notes	4.985%
Debt instrument, covenant, enterprise value threshold	50.00%
Debt instrument, unamortized discount	$ 1,800,000
Debt issuance costs, net	3,000,000	200,000	200,000
Amortization of the convertible debt discount and issuance costs		200,000	300,000
Outstanding principal amount of convertible notes	$ 65,000,000	65,000,000	65,000,000
Accrued interest		$ 700,000	$ 700,000
Convertible Debt | Minimum
Debt Instrument [Line Items]
Debt instrument, redemption, notification period | day	10
Convertible Debt | Maximum
Debt Instrument [Line Items]
Debt instrument, redemption, notification period | day	60
Convertible Debt | On or after the second anniversary of issuance date
Debt Instrument [Line Items]
Redemption of convertible notes	$ 32,500,000
Debt instrument, convertible, threshold trading days | day	20
Debt instrument, convertible, threshold consecutive trading days | day	30
Debt instrument, redemption price, percentage	150.00%
Convertible Debt | On or after the third anniversary of issuance date
Debt Instrument [Line Items]
Redemption of convertible notes	$ 65,000,000
Debt instrument, convertible, threshold trading days | day	20
Debt instrument, convertible, threshold consecutive trading days | day	30
Debt instrument, redemption price, percentage	200.00%

Convertible Notes - Summary of

Convertible Notes - Summary of net carrying amount of the convertible notes (Detail) - USD ($)	Sep. 30, 2020	May 11, 2020
Debt Instrument [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative Liability	$ 2,600,000
Fair value of embedded derivatives	2,600,000
Convertible Debt
Debt Instrument [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative Liability	2,595,000
Outstanding principal amount of convertible notes	65,000,000	$ 65,000,000
Unamortized debt discount and transaction costs	(4,620,000)
Fair value of embedded derivatives	2,595,000
Convertible notes, net	$ 62,975,000	$ 61,800,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	Sep. 30, 2020USD ($)
Statement of Financial Position [Abstract]
Loss contingency accrual	$ 0.4

Subsequent Events (Details)

Subsequent Events (Details) - Fiagon AG Medical Technologies - EUR (€) € in Millions	Oct. 02, 2020	Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Forecast
Subsequent Event [Line Items]
Payments to acquire businesses, gross			€ 15	€ 15	€ 15
Subsequent Event
Subsequent Event [Line Items]
Payments to acquire businesses, gross	€ 15
Subsequent Event | Forecast
Subsequent Event [Line Items]
Payments to acquire businesses, gross		€ 60