Annual report pursuant to Section 13 and 15(d)

Significant Accounting Policies (Tables)

v3.19.1
Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of fixed assets are stated at cost less accumulated depreciation

Fixed assets are stated at cost less accumulated depreciation. Depreciation is calculated based on the straight-line method, at annual rates reflecting the estimated useful lives of the related assets, as follows: 

 

Office equipment 5-15 years
Computers and software 3-5 years
Machinery 5-10 years
Lab and medical equipment 5-7 years
Leasehold improvements Shorter of lease term or useful life
Schedule of fixed assets

Fixed assets, summarized by major category, consist of the following for the years ended: 

 

    December 31,  
    2018     2017  
Office equipment   $ 144     $ 134  
Computers and software     284       192  
Machinery     329       328  
Lab and medical equipment     391       279  
Leasehold improvements     105       105  
Total     1,253       1,038  
Less: accumulated depreciation and amortization     (407 )     (255 )
Fixed assets, net   $ 846     $ 783
Schedule of fair value of financial assets and liabilities

The following table summarizes the fair value of our financial assets and liabilities that were accounted for at fair value on a recurring basis, by level within the fair value hierarchy, as of December 31, 2018 and 2017:

 

    December 31, 2018  
    Level 1     Level 2     Level 3     Fair Value  
Assets                        
Short-term investments   $ 3,043     $ —     $ —     $ 3,043  
                                 
Liabilities                                
Contingent royalty obligation   $ —     $ —     $ 1,953     $ 1,953  

 

    December 31, 2017  
    Level 1     Level 2     Level 3     Fair Value  
Liabilities                        
Contingent royalty obligation   $ —     $ —     $ 1,662     $ 1,662  
Schedule of estimated fair value of Level 3 contingent royalty obligation

The following table sets forth a summary of changes in the estimated fair value of the Company’s Level 3 contingent royalty obligation for the years ended December 31, 2018 and 2017: 

 

    Fair Value Measurements of Contingent Royalty Obligation (Level 3)  
Balance at January 1, 2017   $ 1,410  
Change in estimated fair value of contingent royalty obligation     252  
Balance at December 31, 2017     1,662  
Change in estimated fair value of contingent royalty obligation     291  
Balance at December 31, 2018   $ 1,953