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

Annual report pursuant to Section 13 and 15(d)

Barter Transaction

Barter Transaction	12 Months Ended
Dec. 31, 2012
Barter Transaction [Abstract]
BARTER TRANSACTION	9. BARTER TRANSACTION During 2012, the Company entered into a barter transaction, exchanging laboratory capital assets with a zero net book value for barter credits on future preclinical research services on OGX-427. Such credits are to be redeemed over a 1 year period, beginning September 2012, for preclinical research services to be rendered by the vendor. The credits were recorded at the fair value of the laboratory capital assets exchanged, in accordance with ASC 845, “Nonmonetary Transactions” resulting in other income on this exchange of $0.2 million, which was recorded in the Company’s Consolidated Statement of Loss, in 2012.

Barter Transaction

12 Months Ended

Dec. 31, 2012

9. BARTER TRANSACTION

During 2012, the Company entered into a barter transaction, exchanging laboratory capital assets with a zero net book value for barter credits on future preclinical research services on OGX-427. Such credits are to be redeemed over a 1 year period, beginning September 2012, for preclinical research services to be rendered by the vendor.

The credits were recorded at the fair value of the laboratory capital assets exchanged, in accordance with ASC 845, “Nonmonetary Transactions” resulting in other income on this exchange of $0.2 million, which was recorded in the Company’s Consolidated Statement of Loss, in 2012.

- Definition

The entire disclosure for exchanges with other entities that involve principally nonmonetary assets or liabilities or relate to a transfer of nonmonetary assets for which the entity receives no assets in return.

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