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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
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 table and disclosures below (in thousands) present the Company’s assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value.

 

 

 

As of June 30, 2022

 

 

 

Level I

 

 

Level II

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

Money market securities

 

$

22,838

 

 

$

 

 

$

22,838

 

U.S. Treasury securities

 

 

 

 

 

104,616

 

 

 

104,616

 

Total assets at fair value

 

$

22,838

 

 

$

104,616

 

 

$

127,454

 

 

 

 

As of December 31, 2021

 

 

 

Level I

 

 

Level II

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

Money market securities

 

$

21,390

 

 

$

 

 

$

21,390

 

U.S. Treasury securities

 

 

 

 

 

134,971

 

 

 

134,971

 

Total assets at fair value

 

$

21,390

 

 

$

134,971

 

 

$

156,361

 

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):

 

 

 

Six Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2022

 

 

June 30, 2021

 

Beginning of period

 

$

 

 

$

8,846

 

Expiration of common stock warrant

 

 

 

 

 

(5,018

)

Change in fair value of preferred stock warrants

 

 

 

 

 

(1,214

)

End of period

 

$

 

 

$

2,614