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, 2015

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, 2015	Level 1		Level 2		Level 3		Total
Assets
Cash	$	11,036	$	—	$	—	$	11,036
Money market securities		36,965		—		—		36,965
Restricted cash (Note 7)		190		—		—		190
Corporate bonds and commercial paper		—		12,185		—		12,185
Total assets	$	48,191	$	12,185	$	—	$	60,376
Liabilities
Warrants	$	—	$	—	$	2,967	$	2,967

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, 2015. During the six months ended June 30, 2015, we did not issue any common stock warrants that were classified as liabilities (in thousands):

	Liability at				Unrealized			Liability at
	December 31,		Issuance of		Gain on			June 30,
	2014		Warrants		warrants			2015
Warrant liability	$	3,002	$	—	$	(35	)	$	2,967

Summary of Cash, Cash Equivalents and Marketable Securities

Cash, cash equivalents and marketable securities consist of the following (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
June 30, 2015	Cost		Gains		Losses			Fair Value
Cash	$	11,036	$	—	$	—		$	11,036
Money market securities		36,965		—		—			36,965
Total cash and cash equivalents	$	48,001	$	—	$	—		$	48,001
Money market securities (restricted cash)		190		—		—			190
Total restricted cash	$	190	$	—	$	—		$	190
Corporate bonds and commercial paper		12,189		—		(4	)		12,185
Total short-term investments	$	12,189	$	—	$	(4	)	$	12,185