Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.19.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Summary of Financial Instruments Measured on a Recurring Basis The following table summarizes the conclusions reached as of December 31, 2018 and 2017 for financial instruments measured at fair value on a recurring basis (in thousands):

 

 

 

 

 

 

Fair Value Hierarchy Classification

 

 

 

Balance

 

 

Quoted Prices in Active

Markets for Identical Assets (Level 1)

 

 

Significant Other

Observable Inputs (Level 2)

 

 

Significant Unobservable Inputs (Level 3)

 

December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash on deposit

 

$

1,316

 

 

$

1,316

 

 

 

 

 

 

 

Money market funds

 

 

10,153

 

 

 

10,153

 

 

 

 

 

 

 

Total assets

 

$

11,469

 

 

$

11,469

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrant liability

 

$

3,872

 

 

 

 

 

 

 

 

$

3,872

 

Total liabilities

 

$

3,872

 

 

$

 

 

 

 

 

$

3,872

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

213

 

 

$

213

 

 

 

 

 

 

 

Restricted cash

 

 

328

 

 

 

328

 

 

 

 

 

 

 

Money market funds

 

 

11,226

 

 

 

11,226

 

 

 

 

 

 

 

Total assets

 

$

11,767

 

 

$

11,767

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrant liability

 

$

986

 

 

 

 

 

 

 

 

$

986

 

Total liabilities

 

$

986

 

 

 

 

 

 

 

 

$

986

 

Reconciliation of liabilities using level 3 inputs

A reconciliation of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows (in thousands):

 

 

 

December 31, 2018

 

Balance - January 1, 2018

 

$

3,872

 

March 2018 Public Offering - Series 1 Warrants

 

 

3,480

 

March 2018 Public Offering - Series 2 Warrants

 

 

5,500

 

Gain adjustment to fair value

 

 

(11,866

)

Balance - December 31, 2018

 

$

986