Annual report pursuant to Section 13 and 15(d)

Summary of Significant Accounting Policies (Tables)

v3.8.0.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2017
Accounting Policies [Abstract]  
Schedule of Property Plant And Equipment Useful life
Property and equipment are recorded at cost and depreciated over their estimated useful lives using the straight-line depreciation method as follows:
 
Leasehold improvement
Shorter of estimated useful lives or the term of the lease 
Computer equipment
2 years*
Machinery and equipment
5 years*
Furniture and office equipment
7 years*
 
*Property and equipment assets acquired in the merger with Moleculin, LLC are being depreciated over a 2 years useful life due to their age and condition and expected remaining life assessed at merger date.
Fair Value Measurements, Recurring and Nonrecurring
The following table provides the financial assets and liabilities reported at fair value and measured on a recurring basis at December 31, 2017 (in thousands):
   
Description
 
Liabilities
Measured at Fair
Value
 
Quoted Prices
in Active
Markets for
Identical
Assets (Level 1)
 
Significant Other
Observable Inputs
(Level 2)
 
Significant Other
Unobservable Inputs
(Level 3)
Fair value of warrant liability:
 
 

 
 

 
 

 
 

2017
 
$
503

 
$

 
$

 
$
503

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation










  
The following table provides a summary of changes in fair value associated with the Level 3 liabilities for the year ended December 31, 2017 (in thousands):
 
Warrant
Liability –
Current
 
Warrant
Liability –
Long-Term
 
Warrant
Liability –
Total
Balance, beginning of period December 31, 2016
$

 
$

 
$

Issuances of warrants
2,453

 
1,690

 
4,143

Reclass of liability from long-term to current
1,846

 
(1,846
)
 

Change in fair value - net
2,643

 
(95
)
 
2,548

Transfers in and out (exercise of warrants)
(5,201
)
 
251

 
(4,950
)
Expiration of warrants
(1,238
)
 

 
(1,238
)
Balance, December 31, 2017
$
503

 
$

 
$
503