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, 2022

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, 2022	Level 1		Level 2		Level 3		Total
Assets
Money market securities (cash equivalents)		22,756		—		—		22,756
Restricted cash		50		—		—		50
Total assets	$	22,806	$	—	$	—	$	22,806

December 31, 2021	Level 1		Level 2		Level 3		Total
Assets
Money market securities (cash equivalents)		41,859		—		—		41,859
Restricted cash		50		—		—		50
Total assets	$	41,909	$	—	$	—	$	41,909

Summary of Cash and Cash Equivalents

Cash and cash equivalents (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
December 31, 2022	Cost		Gains		Losses		Fair Value
Money market securities		22,756		—		—		22,756
Total cash and cash equivalents	$	22,756	$	—	$	—	$	22,756
Money market securities (restricted cash)		50		—		—		50
Total restricted cash	$	50	$	—	$	—	$	50

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
December 31, 2021	Cost		Gains		Losses		Fair Value
Money market securities		41,859		—		—		41,859
Total cash and cash equivalents	$	41,859	$	—	$	—	$	41,859
Money market securities (restricted cash)		50		—		—		50
Total restricted cash	$	50	$	—	$	—	$	50

Schedule of Aggregate Fair Value of Principal Amount of Convertible Debt

The aggregate fair value of the principal amount of the convertible debt is a Level 2 fair value measurement.

	December 31, 2022						December 31, 2021
	Principal		Carrying		Fair		Principal		Carrying		Fair
	Amount		Value		Value		Amount		Value		Value
December 2021 Convertible Debt	$	15,000	$	16,071	$	16,987	$	15,000	$	14,920	$	15,204

As of December 31, 2022, the Convertible Debt balance was comprised of the following:

	Year Ended
	December 31,
	2022
Convertible Debt Information
Principal	$	15,000
Transaction Costs	$	(67	)
Accrued paid-in-kind interest		1,138
		16,071