PUBLIC OFFERING AND PRIVATE PLACEMENT (Tables)

9 Months Ended

Sep. 30, 2022

Statement of Stockholders' Equity [Abstract]

Schedule of Derivative Liabilities at Fair Value

The fair value of the warrants has been estimated with the following weighted-average assumptions, including the most sensitive input, volatility:

	September 30, 2022	December 31, 2021
Risk-free interest rate	4.20%	1.22%
Volatility	100.00%	94.00%
Expected term (years)	3.88	4.64

The following table reflects the fair value roll forward reconciliation of the warrant derivative liabilities for the period ended September 30, 2022:

(in thousands)	Warrant Derivative Liability
Balance, December 31, 2021	$	2,773
Change in fair value	(827)
Balance, September 30, 2022	$	1,946

Summary of Warrants Outstanding and Exercisable

A summary of warrants outstanding and exercisable as of September 30, 2022 is as follows:

Year Issued	Warrants Outstanding and Exercisable	Weighted Average Remaining Contractual Life	Weighted Average Exercise Price
		(in years)	(per share)
2019	5,750,000	3.88	$	13.00
2020	4,149,378	3.10	$	6.50
20201	1,659,752	—	$	—
2021	2,055,920	6.19	$	1.69
20212	20,559,210	—	$	—
	34,174,260