Fair Value of Financial Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of fair value assets and liabilities

The following table presents the Company’s assets and liabilities that are measured at fair value at March 31, 2019 and December 31, 2018 ($ in thousands): 

	Fair value measured at March 31, 2019
	Total at March 31, 2019		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets
Marketable securities - mutual and exchange traded funds	$	1,256	$	1,256	$	—	$	—
Investments in Hoth	$	8,939	$	8,939	$	—	$	—
Liabilities
Fair value of warrant liabilities	$	135	$	—	$	—	$	135

	Fair value measured at December 31, 2018
	Total at December 31, 2018		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Assets
Marketable securities - mutual and exchange traded funds	$	2,700	$	2,700	$	—	$	—
Investments in Hoth	$	9,214	$	—	$	—	$	9,214
Liabilities
Fair value of warrant liabilities	$	82	$	—	$	—	$	82

Schedule of fair value assumptions

A summary of quantitative information with respect to the valuation methodology and significant unobservable inputs used for the Company’s warrant liabilities that are categorized within Level 3 of the fair value hierarchy at the date of issuance and as of March 31, 2019 and December 31, 2018 is as follows: 

Date of valuation	March 31, 2019	December 31, 2018
Risk-free interest rate	2.27%	2.48%
Expected volatility	100.00% - 103.05%	72.03% - 103.13%
Contractual life (in years)	1.69-1.81	1.94-2.06

Schedule of fair value of the company's level 3 financial liabilities

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial liabilities that are measured at fair value on a recurring basis for the three months ended March 31, 2019 and 2018 ($ in thousands): 

	Fair Value of Level 3 financial liabilities
	March 31, 2019		March 31, 2018
Beginning balance	$	82	$	822
Fair value adjustment of warrant liabilities		53		(188	)
Ending balance	$	135	$	634