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

Quarterly report pursuant to Section 13 or 15(d)

Fair Value of Financial Instruments (Tables)

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Classification of Assets and Liabilities Measured at Fair Value on Recurring Basis

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, 2022:
Assets:
Cash equivalents (See Note 5)
Money market mutual funds	$	2,225	$	—	$	—
Total cash equivalents	$	2,225	$	—	$	—
Liabilities:
Warrants (See Note 13(c))	$	—	$	—	$	—
Contingent consideration (See Note 12(b))		—		—		21,408
	$	—	$	—	$	21,408

At December 31, 2021:
Assets:
Cash equivalents (See Note 5)
Money market mutual funds	$	10,110	$	—	$	—
Total cash equivalents	$	10,110	$	—	$	—
Liabilities:
Warrants (See Note 13(c))	$	—	$	—	$	7
Contingent consideration (See Note 12(b))		—		—		23,862
	$	—	$	—	$	23,869

Reconciliation of Warrant Liability and Contingent Consideration Measured at Fair Value on Recurring Basis Using Unobservable Inputs

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


	Warrants			Contingent Consideration
Balance at December 31, 2020	$	65		$	65,043
Payment of contingent consideration		—			(7,869	)
Remeasurement		(58	)		(33,312	)
Balance at December 31, 2021	$	7		$	23,862
Payment of contingent consideration		—			(1,200	)
Remeasurement		(7	)		(1,254	)
Total at September 30, 2022	$	—		$	21,408

Current portion as of September 30, 2022	$	—		$	8,436
Long-term portion as of September 30, 2022		—			12,972