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, 2015

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, 2015. During the twelve months ended December 31, 2015, no common stock warrants were issued that were classified as liabilities (in thousands):

	Liability at				Unrealized			Liability at
	December 31,		Issuance of		Gain on			December 31,
	2014		Warrants		warrants			2015
Warrant liability	$	3,002	$	-	$	(1,897	)	$	1,105

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, 2015	Level 1		Level 2		Level 3		Total
Assets
Cash	$	14,034	$	—	$	—	$	14,034
Money market securities (cash equivalents)		20,276		—		—		20,276
Restricted cash (Note 12)		272		—		—		272
Corporate bonds and commercial paper		—		20,876		—		20,876
Total assets	$	34,582	$	20,876	$	—	$	55,458
Liabilities
Warrants	$	—	$	—	$	1,105	$	1,105

December 31, 2014	Level 1		Level 2		Level 3		Total
Assets
Cash	$	16,481	$	—	$	—	$	16,481
Money market securities (cash equivalents)		11,416		—		—		11,416
Restricted cash (Note 12)		251		—		—		251
Corporate bonds and commercial paper		—		19,160		—		19,160
Total assets	$	28,148	$	19,160	$	—	$	47,308
Liabilities
Warrants	$	—	$	—	$	3,002	$	3,002

Summary of Cash and Cash Equivalents and Short Term Investments

Cash and cash equivalents and short term investments (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
December 31, 2015	Cost		Gains		Losses			Fair Value
Cash	$	14,034	$	—	$	—		$	14,034
Money market securities		20,276		—		—			20,276
Total cash and cash equivalents	$	34,310	$	—	$	—		$	34,310
Money market securities (restricted cash)		272		—		—			272
Total restricted cash	$	272	$	—	$	—		$	272
Corporate bonds and commercial paper		20,885		—		(9	)		20,876
Total short-term investments	$	20,885	$	—	$	(9	)	$	20,876

			Gross		Gross
	Amortized		Unrealized		Unrealized			Estimated
December 31, 2014	Cost		Gains		Losses			Fair Value
Cash	$	16,481	$	—	$	—		$	16,481
Money market securities		11,416		—		—			11,416
Total cash and cash equivalents	$	27,897	$	—	$	—		$	27,897
Money market securities (restricted cash)		251		—		—			251
Total restricted cash	$	251	$	—	$	—		$	251
Corporate bonds and commercial paper		19,179		1		(20	)		19,160
Total short-term investments	$	19,179	$	1	$	(20	)	$	19,160