Baudax Bio, Inc. Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

The Company has classified assets and liabilities measured at fair value on a recurring basis as follows:


	Fair value measurements at reporting date using
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
At September 30, 2023:
Assets:
Cash equivalents (See Note 7)
Money market mutual funds	$	53	$	—	$	—
Total cash equivalents	$	53	$	—	$	—
Liabilities:
Derivative liability	$	—	$	—	$	1,659
Contingent consideration (See Note 5)		—		—		83
	$	—	$	—	$	1,742

At December 31, 2022:
Assets:
Cash equivalents (See Note 7)
Money market mutual funds	$	2,241	$	—	$	—
Total cash equivalents	$	2,241	$	—	$	—

The reconciliation of liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows:


	Contingent Consideration and Derivative Liability
Balance at December 31, 2022	$	—
Acquisition of contingent consideration and derivative liability		2,494
Remeasurement		(752	)
Total at September 30, 2023	$	1,742

Current portion as of September 30, 2023	$	1,742
Long-term portion as of September 30, 2023		—

See Note 5 for discussion on contingent consideration.