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Fair Value Measurements and Short-Term Investments (Tables)

3 Months Ended

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

X

- 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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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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

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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).

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-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
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