Fair value measurement (Tables)

3 Months Ended

Mar. 31, 2018

Fair value measurement

Schedule of assets and liabilities measured at fair value on recurring basis

	Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total		Classification in consolidated balance sheets
		in thousands
At December 31, 2017
Assets:
Cash, cash equivalents and restricted cash	$	161,851	$	—	$	—	$	161,851
Total assets		161,851		—		—		161,851
Liabilities:
Derivative financial instruments - debt		—		—		337		337	Accrued expenses and other current liabilities
Derivative financial instruments - related party		—		—		1,298		1,298
Contingent consideration		—		—		3,964		3,964
Total liabilities	$	—	$	—	$	5,599	$	5,599
At March 31, 2018
Assets:
Cash, cash equivalents and restricted cash	$	143,322	$	—	$	—	$	143,322
Total assets		143,322		—		—		143,322
Liabilities:
Derivative financial instruments - debt		—		—		470		470	Accrued expenses and other current liabilities
Derivative financial instruments - related party		—		—		504		504
Contingent consideration		—		—		4,020		4,020
Total liabilities	$	—	$	—	$	4,994	$	4,994

Schedule of changes in Level 3 items

			Derivative
	Contingent		financial
	consideration		instruments		Total
	in thousands
Balance at December 31, 2017	$	3,964	$	1,635	$	5,599
(Gains) / losses recognized in profit or loss		(54)		(702)		(756)
Currency translation effects		110		41		151
Balance at March 31, 2018	$	4,020	$	974	$	4,994

Schedule of changes in fair value of unobservable inputs

		March 31,
		2018
	in thousands
Change in fair value
Moving out of all milestones by 6 months	$	(215)
Increasing the POS for the first milestone by 20%		1,224
Decreasing the POS for the first milestone by 20%		(1,224)
Reducing the discount rate from 12.0% to 2.0%		1,317
Increasing the discount rate from 12.0% to 22.0%		(655)

Schedule of changes in assumptions for fair value of warrants

		Total warrants
	in thousands
Base case	$	504
Increase volatility by 10% to 85%		165
Extend exercise dates by one year		58