XML 52 R27.htm IDEA: XBRL DOCUMENT v3.20.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities at Fair value on a Recurring Basis

The Company measures the following financial assets at fair value on a recurring basis. There were no transfers between levels of the fair value hierarchy during any of the periods presented. The following tables set forth the Company’s financial assets and liabilities carried at fair value categorized using the lowest level of input applicable to each financial instrument as of December 31, 2019 and 2018 (in thousands):

 

 

 

 

 

 

Quoted Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in Active

 

 

Significant

 

 

 

 

 

 

 

 

 

 

 

Markets for

 

 

Other

 

 

Significant

 

 

 

Balance at

 

 

Identical

 

 

Observable

 

 

Unobservable

 

 

 

December 31,

 

 

Assets

 

 

Inputs

 

 

Inputs

 

 

 

2019

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

6,732

 

 

$

6,732

 

 

$

 

 

$

 

Money market funds

 

 

4,301

 

 

 

4,301

 

 

 

 

 

 

 

Restricted cash

 

 

180

 

 

 

180

 

 

 

 

 

 

 

 

 

$

11,213

 

 

$

11,213

 

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liability

 

$

2,425

 

 

$

 

 

$

 

 

$

2,425

 

 

 

$

2,425

 

 

$

 

 

$

 

 

$

2,425

 

 

 

 

 

 

 

 

Quoted Prices

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

in Active

 

 

Significant

 

 

 

 

 

 

 

 

 

 

 

Markets for

 

 

Other

 

 

Significant

 

 

 

Balance at

 

 

Identical

 

 

Observable

 

 

Unobservable

 

 

 

December 31,

 

 

Assets

 

 

Inputs

 

 

Inputs

 

 

 

2018

 

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash

 

$

6,868

 

 

$

6,868

 

 

$

 

 

$

 

Money market funds

 

$

43,937

 

 

 

43,937

 

 

 

 

 

 

 

Restricted cash

 

$

180

 

 

 

180

 

 

 

 

 

 

 

 

 

$

50,985

 

 

$

50,985

 

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liability

 

$

2,142

 

 

$

 

 

$

 

 

$

2,142

 

 

 

$

2,142

 

 

$

 

 

$

 

 

$

2,142

 

Roll-Forward of Fair Value of Derivative Liability

The following table provides a roll-forward of the fair value of the derivative liability (in thousands):

 

Balance at December 31, 2018

 

$

2,142

 

Change in fair value of derivative liability, recorded as interest

   expense

 

 

283

 

Balance at December 31, 2019

 

$

2,425