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, 2022

Summary of Assets Measured at Fair Value on Recurring Basis

The following table presents information about our assets 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, 2022	Level 1		Level 2		Level 3		Total
Assets
Money market securities (cash equivalents)		27,983		—		—		27,983
Restricted cash		50		—		—		50
Total assets	$	28,033	$	—	$	—	$	28,033

Summary of Cash Equivalents

Cash equivalents consist of the following (in thousands):

			Gross		Gross
	Amortized		Unrealized		Unrealized		Estimated
June 30, 2022	Cost		Gains		Losses		Fair Value
Money market securities	$	27,983	$	—	$	—	$	27,983
Total cash equivalents	$	27,983	$	—	$	—	$	27,983
Money market securities (restricted cash)		50		—		—		50
Total restricted cash	$	50	$	—	$	—	$	50

Schedule of Aggregate Fair Value of Principal Amount of Convertible Debt

The aggregate fair value of the principal amount of the convertible debt is a Level 2 fair value measurement.

	June 30, 2022						December 31, 2021
	Principal		Carrying		Fair		Principal		Carrying		Fair
	Amount		Value		Value		Amount		Value		Value
December 2021 Convertible Debt	$	15,000	$	15,460	$	16,074	$	15,000	$	14,920	$	15,204

As of June 30, 2022, the Convertible Debt balance was comprised of the following:

	Six Months Ended			Year Ended
	June 30,			December 31,
	2022			2021
Convertible Debt Information
Principal	$	15,000		$	15,000
Transaction Costs		(100	)		(109	)
Accrued paid-in-kind interest		560			29
		15,460			14,920