Baudax Bio, Inc. Annual report pursuant to Section 13 and 15(d)

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

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 December 31, 2018:
Liabilities:
Contingent consideration (See Note 4)	$	—	$	—	$	90,912
	$	—	$	—	$	90,912
At December 31, 2019:
Assets:
Cash equivalents
Money market mutual funds (See Note 7)	$	16,514	$	—	$	—
Total cash equivalents	$	16,514	$	—	$	—
Liabilities:
Contingent consideration (See Note 4)	$	—	$	—	$	66,358
	$	—	$	—	$	66,358

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

	Contingent Consideration
Balance at December 31, 2017	$	82,413
Remeasurement		8,499
Balance at December 31, 2018	$	90,912

Payment of contingent consideration		(10,000	)
Remeasurement		(14,554	)
Total at December 31, 2019	$	66,358

Current portion as of December 31, 2019		3,592
Long-term portion as of December 31, 2019	$	62,766