Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.0.8
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2014
Fair Value Measurements Tables  
Financial instruments carried at fair value on a recurring

The warrants are valued using the Black-Scholes option-pricing model, using assumptions consistent with our application of ASC 718.

 

          Quoted Prices in Active Markets   Significant Other Observable Inputs   Unobservable Inputs  
Description   March 31, 2014     (Level 1)     (Level 2)     (Level 3)  
Assets:                        
Cash and Cash Equivalents   $ 2,599     $ 2,599     $ -     $ -  
Marketable securities     7,285       4,014       3,271          
Total assets   $ 9,884     $ 6,613     $ 3,271     $ -  
                                 
Liabilities:                                
Warrants potentially settleable in cash   $ 12,089     $ -     $ -     $ 12,089  
Total liabilities   $ 12,089     $ -     $ -       12,089  
                                 
            Quoted Prices in Active Markets   Significant Other Observable Inputs   Unobservable Inputs  
Description   December 31, 2013     (Level 1)     (Level 2)     (Level 3)  
Assets:                                
Cash and Cash Equivalents   $ 1,034     $ 1,034     $ -     $ -  
Total assets   $ 1,034     $ 1,034     $ -       -  
                                 
Liabilities:                                
Derivative liability   $ 23     $ -     $ -     $ 23  
Total liabilities   $ 23     $ -     $ -       23  
Level 3 financial assets and liabilities

A reconciliation of the beginning and ending Level 3 liabilities for the three months ended March 31, 2014 is as follows:

    Fair Value Measurements Using Significant Unobservable Inputs  
    (Level 3)  
Balance, January 1, 2014   $ 23  
Change in fair value of Teva option     (23 )
Estimated fair value of warrants assumed in merger on January 2, 2014     10,475  
Estimated fair value of warrants issued in January sale of common stock     3,696  
Change of fair value of warrants for the period ended March 31, 2014     (2,082 )
Balance at March 31, 2014   $ 12,089