Fair Value Measurements (Tables)
|
6 Months Ended |
Jun. 30, 2017 |
|---|
| Schedule of Financial Instrument Measured on Recurring Basis |
The valuation methodologies
used for the Company’s financial instruments measured on a recurring basis at fair value, including the general classification
of such instruments pursuant to the valuation hierarchy, is set forth in the tables below:
| |
|
As of June 30, 2017 |
|
|
Fair Value Measurements |
|
| |
|
Carrying |
|
|
Fair |
|
|
As of June 30, 2017 |
|
| |
|
Amount |
|
|
Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash |
|
$ |
14,265 |
|
|
$ |
14,265 |
|
|
$ |
14,265 |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
$ |
14,265 |
|
|
$ |
14,265 |
|
|
$ |
14,265 |
|
|
$ |
- |
|
|
$ |
- |
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contingent consideration: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Asuragen |
|
$ |
1,601 |
|
|
$ |
1,601 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,601 |
|
| Warrant liability: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pre-Funded |
|
$ |
1,061 |
|
|
$ |
1,061 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,061 |
|
| Underwriters |
|
|
432 |
|
|
|
432 |
|
|
|
- |
|
|
|
- |
|
|
|
432 |
|
| |
|
$ |
3,094 |
|
|
$ |
3,094 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
3,094 |
|
| As of December 31, 2016 |
|
|
Fair Value Measurements |
|
|
| |
|
Carrying |
|
|
Fair |
|
|
As of December 31, 2016 |
|
| |
|
Amount |
|
|
Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash |
|
$ |
602 |
|
|
$ |
602 |
|
|
$ |
602 |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
$ |
602 |
|
|
$ |
602 |
|
|
$ |
602 |
|
|
$ |
- |
|
|
$ |
- |
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contingent consideration: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Asuragen |
|
$ |
1,545 |
|
|
$ |
1,545 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,545 |
|
| RedPath |
|
|
5,969 |
|
|
|
5,969 |
|
|
|
- |
|
|
|
- |
|
|
|
5,969 |
|
| |
|
$ |
7,514 |
|
|
$ |
7,514 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
7,514 |
|
|
| Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation |
A roll forward of the carrying
value of the contingent consideration, embedded conversion option and warrant liabilities from continuing operations from January
1, 2017 to June 30, 2017 is as follows:
| |
|
2017 |
|
| |
|
January 1, |
|
|
Initial
Liability
|
|
|
Payments |
|
|
Accretion |
|
|
Cancellation
of Obligation/
Conversions
Exercises
|
|
|
Mark to
Market
|
|
|
June 30, |
|
| Asuragen |
|
$ |
1,545 |
|
|
|
|
|
|
$ |
(25 |
) |
|
$ |
81 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
1,601 |
|
| Redpath |
|
|
5,969 |
|
|
|
|
|
|
|
- |
|
|
|
- |
|
|
|
(5,969 |
) |
|
|
- |
|
|
|
- |
|
| Embedded conversion option |
|
|
- |
|
|
|
208 |
|
|
|
- |
|
|
|
- |
|
|
|
(269 |
) |
|
|
61 |
|
|
|
- |
|
| Pre-Funded Warrants |
|
|
- |
|
|
|
2,247 |
|
|
|
- |
|
|
|
- |
|
|
|
(1,252 |
) |
|
|
66 |
|
|
|
1,061 |
|
| Underwriters Warrants |
|
|
- |
|
|
|
422 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
10 |
|
|
|
432 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
$ |
7,514 |
|
|
$ |
2,877 |
|
|
$ |
(25 |
) |
|
$ |
81 |
|
|
$ |
(7,490 |
) |
|
$ |
137 |
|
|
$ |
3,094 |
|
|
| Schedule of Assumptions Used in Black-Scholes Option Pricing Model |
| Market Price |
|
$ |
2.63 |
|
| Exercise Price |
|
$ |
2.44 |
|
| Risk-free interest rate |
|
|
0.99 |
% |
| Expected volatility |
|
|
234.05 |
% |
| Expected life in years |
|
|
1.25 |
|
| Expected dividend yield |
|
|
0.00 |
% |
|
| Pre-Funded Warrant Liability [Member] |
|
| Schedule of Assumptions Used in Black-Scholes Option Pricing Model |
The following table sets forth
the assumptions used in the Black-Scholes Option Pricing Model to estimate the fair value of the Pre-Funded Warrant liability as
of June 30, 2017:
| |
|
June 30, 2017 |
|
| |
|
|
|
| Market Price |
|
$ |
0.89 |
|
| Exercise Price |
|
$ |
0.01 |
|
| Risk-free interest rate |
|
|
1.75 |
% |
| Expected volatility |
|
|
134.21 |
% |
| Expected life in years |
|
|
5.0 |
|
| Expected dividend yield |
|
|
0.00 |
% |
|
| Underwriters Warrant Liability [Member] |
|
| Schedule of Assumptions Used in Black-Scholes Option Pricing Model |
The following table sets forth
the assumptions used in the Black-Scholes Option Pricing Model to estimate the fair value of the Underwriters Warrant liability
as of June 30, 2017:
| |
|
June 30, 2017 |
|
| |
|
|
|
| Market Price |
|
$ |
0.89 |
|
| Exercise Price |
|
$ |
1.32 |
|
| Risk-free interest rate |
|
|
1.75 |
% |
| Expected volatility |
|
|
134.21 |
% |
| Expected life in years |
|
|
5.0 |
|
| Expected dividend yield |
|
|
0.00 |
% |
|