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, 2013

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, 2013	Level 1		Level 2		Level 3		Total
Assets
Cash	$	10,575	$	—	$	—	$	10,575
Money market securities		4,018		—		—		4,018
Restricted Cash		314		—		—		314
Corporate bonds and commercial paper		—		24,629		—		24,629

Total assets	$	14,907	$	24,629	$	—	$	39,536
Liabilities
Warrants	$	—	$	—	$	214	$	214

December 31, 2012	Level 1		Level 2		Level 3		Total
Assets
Cash	$	2,440	$	—	$	—	$	2,440
Money market securities		15,635		—		—		15,635
Restricted Cash		314		—		—		314
Corporate bonds and commercial paper		—		57,308		—		57,308

Total assets	$	18,389	$	57,308	$	—	$	75,697
Liabilities
Warrants	$	—	$	—	$	3,422	$	3,422

Summary of Marketable Securities

Marketable securities consist of the following (in thousands):


December 31, 2013	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Cash	$	10,575	$	—	$	—		$	10,575
Money market securities		4,018		—		—			4,018
Corporate bonds and commercial paper		—		—		—			—

Total cash and cash equivalents	$	14,593	$	—	$	—		$	14,593
Money market securities (restricted cash)		314		—		—			314

Total restricted cash	$	314	$	—	$	—		$	314
U.S government securities		—		—		—			—
U.S agency securities		—		—		—			—
Corporate bonds and commercial paper		24,627		3		(1	)		24,629

Total short-term investments	$	24,627	$	3	$	(1	)	$	24,629


December 31, 2012	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Cash	$	2,440	$	—	$	—		$	2,440
Money market securities		15,635		—		—			15,635
Corporate bonds and commercial paper		—		—		—			—

Total cash and cash equivalents	$	18,075	$	—	$	—		$	18,075
Money market securities (restricted cash)		314		—		—			314

Total restricted cash	$	314	$	—	$	—		$	314
U.S government securities		—		—		—			—
U.S agency securities		—		—		—			—
Corporate bonds and commercial paper		57,312		4		(8	)		57,308

Total short-term investments	$	57,312	$	4	$	(8	)	$	57,308

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, 2013 (in thousands). Further there have been no transfers of assets or liabilities to or from level 3:


	Liability at December 31, 2012		Gain on Warrants		Liability at December 31, 2013
Warrant liability	$	3,422	$	3,208	$	214

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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