XML 60 R32.htm IDEA: XBRL DOCUMENT v3.22.0.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities measured at fair value on recurring basis and the fair value hierarchy of the valuation techniques

The carrying amounts of certain financial instruments such as cash and cash equivalents, accounts receivable, prepaid expenses, other current assets, accounts payable, accrued expenses and other current liabilities as of December 31, 2021 and 2020 approximate their related fair values due to the short-term maturities of these instruments.

 

 

As of December 31, 2021

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market securities

 

$

21,390

 

 

$

 

 

$

 

 

$

21,390

 

Government securities

 

 

 

 

 

134,971

 

 

 

 

 

 

134,971

 

Total assets at fair value

 

$

21,390

 

 

$

134,971

 

 

$

 

 

$

156,361

 

 

 

 

 

As of December 31, 2020

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market securities

 

$

11,822

 

 

$

 

 

$

 

 

$

11,822

 

Government securities

 

 

 

 

 

54,981

 

 

 

 

 

 

54,981

 

Total assets at fair value

 

$

11,822

 

 

$

54,981

 

 

$

 

 

$

66,803

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Common stock warrant liability

 

$

 

 

$

 

 

$

(5,018

)

 

$

(5,018

)

Redeemable convertible preferred stock warrant liability

 

 

 

 

 

 

 

 

(3,828

)

 

 

(3,828

)

Total liabilities at fair value

 

$

 

 

$

 

 

$

(8,846

)

 

$

(8,846

)

Schedule of estimated fair value for the warrant liabilities measured using significant unobservable inputs

The following table sets forth changes in the estimated fair values for the Company’s warrant liabilities measured using significant unobservable inputs (in thousands):

 

 

 

Year ended December 31,

 

 

 

2021

 

 

2020

 

Beginning of period

 

$

8,846

 

 

$

71,881

 

Exercise of preferred stock warrants

 

 

(1,111

)

 

 

(24

)

Expiration of common stock warrant

 

 

(5,018

)

 

 

 

Change in fair value of common stock warrant

 

 

 

 

 

(64,628

)

Change in fair value of preferred stock warrants

 

 

(2,717

)

 

 

1,617

 

End of period

 

$

 

 

$

8,846