Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments (Tables)

v3.19.2
Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2019
Schedule of Cash and Available-For-Sale Securities' Cost, Gross Unrealized Losses and Fair Value by Significant Investment Category The following table shows the cost, gross unrealized losses and fair value, with a breakdown by significant investment category, of the Company’s cash and cash equivalents and marketable securities as of June 30, 2019:

 

 

 

 

 

 

 

Gross

 

 

 

 

 

 

Cash and

 

 

 

 

 

 

 

 

 

 

 

Unrealized

 

 

Fair

 

 

Cash

 

 

Marketable

 

 

 

Cost

 

 

Losses

 

 

Value

 

 

Equivalents

 

 

Securities

 

Cash

 

$

16,258

 

 

$

—

 

 

$

16,258

 

 

$

16,258

 

 

$

—

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

24,017

 

 

 

—

 

 

 

24,017

 

 

 

24,017

 

 

 

—

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

 

4,998

 

 

 

—

 

 

 

4,998

 

 

 

—

 

 

 

4,998

 

Total

 

$

45,273

 

 

$

—

 

 

$

45,273

 

 

$

40,275

 

 

$

4,998

 

 

As of December 31, 2018, the Company’s cash and cash equivalents and marketable securities balances were as follows:

 

 

 

 

 

 

 

 

Gross

 

 

 

 

 

 

Cash and

 

 

 

 

 

 

 

 

 

 

 

 

Unrealized

 

 

Fair

 

 

Cash

 

 

Marketable

 

 

 

 

Cost

 

 

Losses

 

 

Value

 

 

Equivalents

 

 

Securities

 

Cash

 

 

$

13,337

 

 

$

—

 

 

$

13,337

 

 

$

13,337

 

 

$

—

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

 

 

24,202

 

 

 

—

 

 

 

24,202

 

 

 

24,202

 

 

 

—

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government securities

 

 

 

2,500

 

 

 

(2

)

 

 

2,498

 

 

 

—

 

 

 

2,498

 

Corporate debt securities

 

 

 

11,113

 

 

 

(46

)

 

 

11,067

 

 

 

—

 

 

 

11,067

 

Subtotal

 

 

 

13,613

 

 

 

(48

)

 

 

13,565

 

 

 

—

 

 

 

13,565

 

Total

 

 

$

51,152

 

 

$

(48

)

 

$

51,104

 

 

$

37,539

 

 

$

13,565

 
Schedule of Marketable Securities That Have Been in Continuous Unrealized Loss Position for Less than 12 months and for 12 months or Greater

The following tables show information about the Company’s marketable securities that have been in a continuous unrealized loss position for less than 12 months and for 12 months or greater as of December 31, 2018:

 

 

 

December 31, 2018

 

 

 

Continuous Unrealized Losses

 

 

 

Less than

 

 

12 Months

 

 

 

 

 

 

 

12 Months

 

 

or Greater

 

 

Total

 

Fair value of marketable securities

 

$

13,565

 

 

$

—

 

 

$

13,565

 

Unrealized losses

 

$

(48

)

 

$

—

 

 

$

(48

)
Reconciliation of Level 3 Measurement of Company's April 2018 Warrant

The following table represents a roll-forward of the fair value of the April 2018 Warrant, which was recorded within other accrued liabilities in the accompanying condensed consolidated balance sheet at June 30, 2019:

 

Balance, December 31, 2018

 

$

23

 

Change in fair value

 

 

50

 

Balance, June 30, 2019

 

$

73

 
April 2018 Warrant [Member]  
Summary of Quantitative Information with Respect to Significant Unobservable Inputs

The following table summarizes quantitative information with respect to the significant unobservable inputs that were used to value the April 2018 Warrant:

 

 

June 30, 2019

 

 

December 31, 2018

 

Volatility

 

70

%

 

 

70

%

Risk-free rate

 

1.76

%

 

 

2.51

%

Term

3.75 years

 

 

4.25 years