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Fair Value Measurements and Short-Term Investments (Tables) | 3 Months Ended
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Mar. 31, 2019
Fair Value Disclosures [Abstract] |
Debt Securities, Available-for-sale | The following is a summary of the Company’s short-term investments, considered available-for-sale, as of March 31, 2019 (in thousands):
| Amortized |  | Gross Unrealized |  | Estimated
| Cost |  | Gains |  | Losses |  | Fair Value
Available-for-sale securities |  |  |  |  |  |  |
U.S treasury securities | $ | 79,321 |  |  | $ | — |  |  | $ | (8 | ) |  | $ | 79,313 |
Schedule of financial instruments recorded at fair value on a recurring basis | The following table (in thousands) shows a reconciliation of the beginning and ending fair value measurements of the contingent royalty obligation payable to a related party for the three months ended March 31, 2019:
| March 31, 2019
Fair value, beginning of period | $ | 50,200 |
FDA milestone payment | (9,213 | )
Change in fair value recorded in operating expenses | 4,913 |
Fair value, end of period | $ | 45,900 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The fair value of these instruments was as follows (in thousands):
| As of March 31, 2019
| Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Available-for-sale securities |  |  |  |  |  |  |
U.S treasury securities | $ | 79,313 |  |  | $ | 79,313 |  |  | $ | — |  |  | $ | — |
Liabilities |  |  |  |  |  |  |
Contingent royalty obligation payable to Evolus Founders, a related party | $ | 45,900 |  |  | $ | — |  |  | $ | — |  |  | $ | 45,900 |
| As of December 31, 2018
| Fair Value |  | Level 1 |  | Level 2 |  | Level 3
Liabilities |  |  |  |  |  |  |
Contingent royalty obligation payable to Evolus Founders, a related party | $ | 50,200 |  |  | $ | — |  |  | $ | — |  |  | $ | 50,200 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258 + Details
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