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

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Fair Value Measurement as of  June 30, 2020

($ in thousands)

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets

 

​

  

 

​

  

 

​

  

 

​

  

Fair value of investment in Caelum

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$

—

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$

—

​

$

11,148

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$

11,148

Total

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$

—

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$

—

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$

11,148

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$

11,148

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Fair Value Measurement as of  June 30, 2020

($ in thousands)

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities

 

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Warrant liabilities

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$

—

​

$

—

​

$

413

​

$

413

Total

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$

—

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$

—

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$

413

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$

413

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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

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Fair Value Measurement as of  December 31, 2019

($ in thousands)

    

Level 1

    

Level 2

    

Level 3

    

Total

Liabilities

​

 

  

​

 

  

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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:

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Investment in

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Warrant

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​

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($ in thousands)

    

Caelum

    

 Liabilities

    

Total

Balance at December 31, 2019

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$

11,148

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$

27

​

$

11,175

Fair value of investment

​

​

—

​

 

386

​

 

386

Balance at June 30, 2020

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$

11,148

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$

413

​

$

11,561

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

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June 30, 2020

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December 31, 2019

 

Risk-free interest rate

 

0.70

%

1.92

%

Expected dividend yield

 

—

​

—

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Expected term in years

 

10.0

​

10.0

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Expected volatility

 

93

%

93

%

Probability of issuance of the warrant

 

50

%

5

%

Schedule of fair value of derivative warrant liability

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Cyprium

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Contingently

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Issuable Warrant

($ in thousands)

    

Liability

Beginning balance at January 1, 2020

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$

27

Change in fair value

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386

Ending balance at June 30, 2020

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$

413