Annual report pursuant to Section 13 and 15(d)

Fair Value Measurement (Tables)

v3.19.3.a.u2
Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchies for Financial Assets and Liabilities on Recurring Basis
The Company’s fair value hierarchies for its financial assets and liabilities which require fair value measurement on a recurring basis are as follows:
 
Total
 
Level 1
 
Level 2
 
Level 3
December 31, 2019
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Warrant liabilities
$
4,307

 
$

 
$

 
$
4,307

Contingent success fee liability
$
6

 
$

 
$

 
$
6

 
 
 
 
 
 
 
 
December 31, 2018
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Warrant liability
$
585

 
$

 
$

 
$
585

Contingent success fee liability
$
34

 
$

 
$

 
$
34

Summary of Changes in Fair Value of Level 3 Financial Liabilities on Recurring Basis
The following table sets forth a summary of the changes in the fair value of Company’s Level 3 financial liabilities during the year ended December 31, 2019, which were measured at fair value on a recurring basis:
 
Warrant
Liability
 
Contingent
Success Fee
Liability
Balance at December 31, 2018
$
585

 
$
34

Initial fair value of warrants issued in conjunction with May 2019 financing
7,334

 
0

Initial fair value of warrants issued in conjunction with December 2019 financing
2,507

 
0

Gain on revaluation of warrants issued in December 2019, May 2019 financing, and December 2015 financing
(6,376
)
 
0

Loss on modification of 2015 Warrants
257

 

Gain on revaluation of contingent liabilities

 
(28
)
Balance at December 31, 2019
$
4,307

 
$
6