XML 52 R25.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Note 19 - Fair Value Measurements
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Fair Value Disclosures [Text Block]

19.

Fair value measurements

 

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 and 2023 are summarized below:

 

      

Fair value measurement

 

Recurring fair value measurement

 

Total fair value

  

Quoted prices in
active markets for identical
assets (Level 1)

  

Significant other
observable inputs
(Level 2)

  

Significant
unobservable inputs
(Level 3)

 
  

$

  

$

  

$

  

$

 
                 

As of December 31, 2022

                

Assets:

                

Trading debt securities

                

Financial products issued by commercial banks

  2,872   -   2,872   - 

Total assets measured at fair value

  2,872   -   2,872   - 

As of December 31, 2023

                

Assets:

                

Trading debt securities

                

Financial products issued by commercial banks

  193   -   193   - 

Total assets measured at fair value

  193   -   193   - 

 

BEYONDSPRING INC.

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2023, 2022 AND 2021

(Amounts in thousands of U.S. Dollars (“$”) and Renminbi (“RMB”),

except for number of shares and per share data)

 

19.

Fair value measurements (continued)

 

The fair value of the forward contract is estimated using a formulaic valuation approach which combines the discounted cash flow to first estimate the fair value of the entity’s share price and probability-based valuation approach to estimate the fair value of the forward contract. Significant unobservable inputs include the probability of achieving a contingent target, discount for lack of marketability, volatility and weighted average cost of capital at the end of 2021 and the settlement date.

 

The following table represents the significant unobservable inputs used to estimate the fair value of the Forward contract at December 31, 2021 and at settlement date June 13, 2022:

 

  

Valuation technique

 

Unobservable inputs

 

Range as of

 

December 31, 2021

 

June 13, 2022

Forward contract

 

Discounted cash flow

 

Discount for lack of marketability

 

10%

 

10%

    

Volatility

 

85%

 

85%

    

Weighted average cost of capital

 

14.50%

 

17.10%

  

Probability-based valuation approach

 

Probability of achieving contingent target

 

90%

 

100%

 

The following table presents a reconciliation of the forward contract measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the years presented.

 

  

Forward contract

 
  

$

 
     

Balance as of December 31, 2020 (liability)

  (278)

Gains from changes in fair value

  444 
     

Balance as of December 31, 2021 (asset)

  166 

Gains from changes in fair value

  1,071 

Settlement during the year

  (1,237)
     

Balance as of December 31, 2022

  -