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)

9 Months Ended

Sep. 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):

September 30, 2015	Level 1		Level 2		Level 3		Total
Assets
Cash	$	16,735	$	—	$	—	$	16,735
Money market securities		25,742		—		—		25,742
Restricted cash (Note 7)		222		—		—		222
Corporate bonds and commercial paper		—		23,460		—		23,460
Total assets	$	42,699	$	23,460	$	—	$	66,159
Liabilities
Warrants	$	—	$	—	$	2,836	$	2,836

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 nine months ended September 30, 2015. During the nine months ended September 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			September 30,
	2014		Warrants		warrants			2015
Warrant liability	$	3,002	$	—	$	(166	)	$	2,836

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
September 30, 2015	Cost		Gains		Losses			Fair Value
Cash	$	16,735	$	—	$	—		$	16,735
Money market securities		25,742		—		—			25,742
Total cash and cash equivalents	$	42,477	$	—	$	—		$	42,477
Money market securities (restricted cash)		222		—		—			222
Total restricted cash	$	222	$	—	$	—		$	222
Corporate bonds and commercial paper		23,459		5		(4	)		23,460
Total short-term investments	$	23,459	$	5	$	(4	)	$	23,460