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Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurements of Cash Equivalents, Available-for-Sale Securities and Free Share Liability

The fair value measurements of cash equivalents, available-for-sale securities and the free share liability are identified at the following levels within the fair value hierarchy (in thousands):

		December 31, 2018
		Fair Value Measurements
		Total				Level 1				Level 2				Level 3
Assets:
Cash equivalents:
Money market funds		$	103,291			$	103,291			$	—			$	—
Total			103,291				103,291				—				—
Marketable securities:
Commercial paper securities			177,224				—				177,224				—
Corporate debt securities			63,870				—				63,870				—
U.S. government-sponsored entity debt securities			18,621				—				18,621				—
Total			259,715				—				259,715				—
Total cash equivalents and marketable securities		$	363,006			$	103,291			$	259,715				—
Liabilities:
Free share liability		$	154				—				—			$	154
Total		$	154				—				—			$	154

		December 31, 2017
		Fair Value Measurements
		Total				Level 1				Level 2				Level 3
Assets:
Cash equivalents:
Money market funds		$	24,290			$	24,290			$	—			$	—
Commercial paper securities			4,595				—				4,595				—
Total			28,885				24,290				4,595				—
Marketable securities:
Commercial paper securities			110,247				—				110,247				—
Corporate debt securities			75,755				—				75,755				—
U.S. government-sponsored entity debt securities			8,492				—				8,492				—
Total			194,494				—				194,494				—
Total cash equivalents and marketable securities		$	223,379			$	24,290			$	199,089			$	-

Summary of Estimated Fair Value of Free Share Liability Assumptions

The assumptions used in this simulation model are reviewed each reporting period and adjusted, as needed, with any change in estimated fair value recorded on the Company’s consolidated statements of operations.

Free Shares Liability assumptions:		December 31, 2018
Sangamo Stock Price (USD)		11.48
TxCell Stock Price (EUR)		2.58
EUR/ USD Exchange Rate		0.873
Sangamo Stock Price (USD) Volatility Estimate		79.90%
TxCell Stock Price (EUR) Volatility Estimate		8.59%
EUR/ USD Exchange Rate Volatility Estimate		7.66%
Risk Free Rate		Varies by expected exercise date

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

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-Topic 820
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