Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.19.3
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2019
Accounting Policies [Abstract]  
Schedule of inventory

Inventory at September 30, 2019 and December 31, 2018 consisted of the following:

  

    September 30,
2019		     December 31,
2018		  
Raw materials   $ 238     $ -  
Work-in-process     160       -  
Finished goods     373       23  
Ending inventory   $ 771     $ 23  
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 3-7 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:

  

    September 30,
2019		     December 31,
2018		  
Office equipment   $ 148     $ 144  
Computers and software     320       284  
Machinery     460       329  
Lab and medical equipment     471       391  
Leasehold improvements     180       105  
Total     1,579       1,253  
Less: accumulated depreciation and amortization     (564 )     (407 )
Fixed assets, net   $ 1,015     $ 846  
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 September 30, 2019 and December 31, 2018:

  

    September 30, 2019  
    Level 1     Level 2     Level 3     Fair Value  
Assets                        
Investments   $ 10,657     $ -     $ -     $ 10,657  
                                 
Liabilities                                
Contingent royalty obligation   $ -     $ -     $ 1,885     $ 1,885  

  

    December 31, 2018  
    Level 1     Level 2     Level 3     Fair Value  
Assets                        
Investments   $ 3,043     $ -     $ -     $ 3,043  
                                 
Liabilities                                
Contingent royalty obligation   $ -     $ -     $ 1,953     $ 1,953  
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 nine months ended September 30, 2019:

  

    Fair Value Measurements of Contingent Royalty Obligation (Level 3)  
Balance at December 31, 2018   $ 1,953  
Change in estimated fair value of contingent royalty obligation     (68 )
Balance at September 30, 2019   $ 1,885