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)

6 Months Ended

Jun. 30, 2014

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):


June 30, 2014	Level 1		Level 2		Level 3		Total
Assets
Cash	$	18,244	$	—	$	—	$	18,244
Money market securities		22,370		—		—		22,370
Restricted cash		251		—		—		251
Corporate bonds and commercial paper		—		—		—		—

Total assets	$	40,865	$	—	$	—	$	40,865
Liabilities
Warrants	$	—	$	—	$	320	$	320

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 six months ended June 30, 2014. There have been no transfers of assets or liabilities to or from level 3 (in thousands):


	Liability at December 31, 2013		Unrealized Loss on warrants		Liability at June 30, 2014
Warrant liability	$	214	$	106	$	320

Summary of Marketable Securities

Marketable securities consist of the following (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
June 30, 2014

Cash	$	18,244	$	—	$	—	$	18,244
Money market securities		22,370		—		—		22,370

Total cash and cash equivalents	$	40,614	$	—	$	—	$	40,614

Money market securities		251		—		—		251

Total restricted cash	$	251	$	—	$	—	$	251

Corporate bonds and commercial paper		—		—		—		—

Total short-term investments	$	—	$	—	$	—	$	—

- 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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