Achieve Life Sciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques we utilized to determine such fair value (in thousands):

September 30, 2017	Level 1		Level 2		Level 3		Total
Assets
Cash	$	3,010	$	—	$	—	$	3,010
Money market securities (cash equivalents)		5,011		—		—		5,011
Restricted cash (Note 7)		272		—		—		272
Total assets	$	8,293	$	—	$	—	$	8,293
Liabilities
Warrants	$	—	$	—	$	3	$	3

Summary of Changes in Fair Value of Level 3 Financial Liabilities

The following table presents the changes in fair value of our total Level 3 financial liabilities for the nine months ended September 30, 2017. During the nine months ended September 30, 2017, we did not issue any common stock warrants that were classified as liabilities (in thousands):

	Liability at		Liability Assumed		Unrealized			Liability at
	December 31,		as part of		Gain on			September 30,
	2016		Arrangement		warrants			2017
Warrant liability	$	—	$	114	$	(111	)	$	3

Summary of Cash, Cash Equivalents and Short-Term Investments

Cash, cash equivalents and short-term investments consist of the following (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
September 30, 2017	Cost		Gains		Losses		Fair Value
Cash	$	3,010	$	—	$	—	$	3,010
Money market securities		5,011		—		—		5,011
Total cash and cash equivalents	$	8,021	$	—	$	—	$	8,021
Money market securities (restricted cash)		272		—		—		272
Total restricted cash	$	272	$	—	$	—	$	272