Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.20.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2020
Schedule of financial instruments, measured at fair value

Fair Value Measurement as of  June 30, 2020

($ in thousands)

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets

 

  

 

  

 

  

 

  

Fair value of investment in Caelum

$

$

$

11,148

$

11,148

Total

$

$

$

11,148

$

11,148

Fair Value Measurement as of  June 30, 2020

($ in thousands)

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities

 

  

 

  

 

  

 

  

Warrant liabilities

$

$

$

413

$

413

Total

$

$

$

413

$

413

Fair Value Measurement as of  December 31, 2019

($ in thousands)

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets

 

  

 

  

 

  

 

  

Fair value of investment in Caelum

 

$

 

$

 

$

11,148

 

$

11,148

Total

 

$

 

$

 

$

11,148

 

$

11,148

Fair Value Measurement as of  December 31, 2019

($ in thousands)

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities

 

  

 

  

 

  

 

  

Warrant liabilities

 

$

 

$

 

$

27

 

$

27

Total

 

$

 

$

 

$

27

 

$

27

Schedule of changes in fair value of financial instruments

The table below provides a roll-forward of the changes in fair value of Level 3 financial instruments as of June 30, 2020:

Investment in

Warrant

($ in thousands)

    

Caelum

    

 Liabilities

    

Total

Balance at December 31, 2019

$

11,148

$

27

$

11,175

Fair value of investment

 

386

 

386

Balance at June 30, 2020

$

11,148

$

413

$

11,561

Warrants [Member] | Caelum [Member]  
Schedule of weighted average (in aggregate) significant unobservable inputs

    

June 30, 2020

December 31, 2019

 

Risk-free interest rate

 

0.70

%

1.92

%

Expected dividend yield

 

Expected term in years

 

10.0

10.0

Expected volatility

 

93

%

93

%

Probability of issuance of the warrant

 

50

%

5

%

Schedule of fair value of derivative warrant liability

Cyprium

Contingently

Issuable Warrant

($ in thousands)

    

Liability

Beginning balance at January 1, 2020

$

27

Change in fair value

 

386

Ending balance at June 30, 2020

$

413