Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.19.3
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2019
Fair Value Disclosures [Abstract]  
Financial Assets Measured at Fair Value on Recurring Basis

The following tables present financial information about the Company’s financial assets measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:

 

 

 

September 30, 2019

 

 

 

Total

 

 

Quoted

Prices in

Active Markets

for Identical

Assets (Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs

(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

71,041

 

 

$

71,041

 

 

$

 

 

$

 

Total

 

$

71,041

 

 

$

71,041

 

 

$

 

 

$

 

 

 

 

 

December 31, 2018

 

 

 

Total

 

 

Quoted

Prices in

Active Markets

for Identical

Assets (Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs

(Level 3)

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

33,017

 

 

$

33,017

 

 

$

 

 

$

 

Total

 

$

33,017

 

 

$

33,017

 

 

$

 

 

$

 

Summary of Rollforward of Fair Value of Convertible Notes

The fair value of the convertible notes (Note 5) is a recurring Level 3 fair value measurement. Below is a rollforward of the fair value of the convertible notes for the nine months ended September 30, 2018:

 

 

 

 

Convertible Notes

 

Fair value at December 31, 2017

 

$

 

Fair value upon the May 2018 closing

 

 

12,535

 

Change in fair value at September 30, 2018

 

 

6,244

 

Fair value at September 30, 2018

 

$

18,779