XML 51 R41.htm IDEA: XBRL DOCUMENT v3.10.0.1
Fair Value of Financial Instruments (Q3) (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2018
Dec. 31, 2017
Fair Value of Financial Instruments [Abstract]    
Fair Value of Common Stock Warrant Liability Calculated Using a Monte Carlo Valuation Model Classified as Level 3 in Fair Value Hierarchy
The following is a rollforward of the fair value of Level 3 warrants:

Nine months ended September 30, 2017 (in thousands)
 
   
Balance December 31, 2016
 
$
1,843
 
Change in fair value
  
(1,469
)
Exercise of warrants
  
(368
)
Ending balance as of September 30, 2017
 
$
6
 

The following is a rollforward of the fair value of Level 3 warrants:

(in thousands)
 
 
 
July 26, 2016 warrant issuance
$
1,883
 
November 3, 2016 warrant issuance
 
778
 
Change in fair value
 
(818
)
Ending balance December 31, 2016
 
1,843
 
Change in fair value
 
(1,475
)
Exercise of warrants
 
(368
)
Ending balance as of December 31, 2017
$
—
Summary of Fair Value Assumptions Used in Calculation of Monte Carlo Valuation Model
Fair values were calculated using the following assumptions:

 
 
As of Dec. 31,
2016
  
As of date of
exercise
 
Risk-free interest rates, adjusted for continuous compounding
  
1.47/1.96
%
  
1.45-1.99
%
Term (years)
  
3.1/5.3
   
2.84-5.50
 
Expected volatility
  
55.3/49.8
%
  
49.9-58.5
%
Dates and probability of future equity raises
 
various
  
various
 

Fair values were calculated using the following assumptions:

July 26,
2016
Nov. 3,
2016
Dec. 31,
2016
Risk-free interest rates, adjusted for continuous compounding
 
0.94
%
 
1.33
%
 
1.47/1.96
%
Term (years)
 
3.5
 
 
5.5
 
 
3.1/5.3
 
Expected volatility
 
78
%
 
41.4
%
 
55.3/49.8
%
Dates and probability of future equity raises
 
various
 
 
various
 
 
various