Achieve Life Sciences, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

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 year ended December 31, 2017. During the twelve months ended December 31, 2017, no common stock warrants were issued that were classified as liabilities (in thousands):

	Liability at		Liability Assumed		Unrealized			Liability at
	December 31,		as part of		Gain on			December 31,
	2016		Arrangement		warrants			2017
Warrant liability	$	—	$	150	$	(150	)	$	—

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):

December 31, 2017	Level 1		Level 2		Level 3		Total
Assets
Cash	$	1,262	$	—	$	—	$	1,262
Money market securities (cash equivalents)		4,022		—		—		4,022
Restricted cash (Note 12)		272		—		—		272
Total assets	$	5,556	$	—	$	—	$	5,556
Liabilities
Warrants	$	—	$	—	$	—	$	—

December 31, 2016	Level 1		Level 2		Level 3		Total
Assets
Cash	$	15	$	—	$	—	$	15
Total assets	$	15	$	—	$	—	$	15
Liabilities
Warrants	$	—	$	—	$	—	$	—

Summary of Cash and Cash Equivalents and Short Term Investments

Cash and cash equivalents and short term investments (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
December 31, 2017	Cost		Gains		Losses		Fair Value
Cash	$	1,262	$	—	$	—	$	1,262
Money market securities		4,022		—		—		4,022
Total cash and cash equivalents	$	5,284	$	—	$	—	$	5,284
Money market securities (restricted cash)		272		—		—		272
Total restricted cash	$	272	$	—	$	—	$	272

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
December 31, 2016	Cost		Gains		Losses		Fair Value
Cash	$	15	$	—	$	—	$	15
Total cash and cash equivalents	$	15	$	—	$	—	$	15