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SEC Filings

10-Q
APTEVO THERAPEUTICS INC. filed this Form 10-Q on 11/13/2017
Entire Document
 

 

The Company’s financial assets measured at fair value consisted of the following as of September 30, 2017 and December 31, 2016:

 

 

 

September 30, 2017

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

16,778

 

 

$

 

 

$

 

 

$

16,778

 

Corporate bonds

 

 

 

 

 

8,973

 

 

 

 

 

 

8,973

 

US government and agency debt securities

 

 

 

 

 

11,973

 

 

 

 

 

 

11,973

 

Total assets

 

$

16,778

 

 

$

20,946

 

 

$

 

 

$

37,724

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

(in thousands)

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

5,215

 

 

$

 

 

$

 

 

$

5,215

 

Corporate bonds

 

 

 

 

 

9,951

 

 

 

 

 

 

9,951

 

US government and agency debt securities

 

 

 

 

 

34,898

 

 

 

 

 

 

34,898

 

Total assets

 

$

5,215

 

 

$

44,849

 

 

$

 

 

$

50,064

 

 

If quoted market prices in active markets for identical assets are not available to determine fair value, then the Company uses quoted prices of similar instruments and other significant inputs derived from observable market data obtained from third-party data providers. These investments are included in Level 2 and consist of debt securities of U.S government agencies and corporate bonds. There were no transfers between Levels 1 and 2 during the three and nine months ended September 30, 2017.

Cash held in demand deposit accounts of $69.1 million and $4.4 million is excluded from our fair-value hierarchy disclosure as of September 30, 2017 and December 31, 2016, respectively. The carrying amounts for receivables, accounts payable and other current monetary assets and liabilities approximate fair value because of the immediate or short-term maturity of these financial instruments.

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