Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Financial Instruments Measured at Fair Value on Recurring Basis

The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

	Fair Value Measurements at December 31, 2022
	Total		Level 1		Level 2		Level 3
Liabilities
2018 PIPE warrant liability	$	1	$	—	$	—	$	1
Essentialis purchase price contingency liability		8,835		—		—		8,835
Total liabilities	$	8,836	$	—	$	—	$	8,836

	Fair Value Measurements at December 31, 2021
	Total		Level 1		Level 2		Level 3
Liabilities
2018 PIPE warrant liability	$	31	$	—	$	—	$	31
Essentialis purchase price contingency liability		9,547		—		—		9,547
Total liabilities	$	9,578	$	—	$	—	$	9,578

Summary of Changes in Fair Value of Level 3 Financial Instruments

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 assets and liabilities (dollars in thousands):

	2018 PIPE Warrants					Purchase Price
	Number of					Contingent
	Warrants		Liability			Liability
Balance at December 31, 2020	$	34,241		539			10,278
'Change in value of 2018 PIPE Warrants		—		(508	)		-
Change in value of contingent liability due to estimated future revenue milestones		—		—			3,249
'Change in value of contingent liability due to assignment of rights to Soleno		—		—			(3,980	)
Balance at December 31, 2021		34,241		31			9,547
Change in value of 2018 PIPE Warrants		—		(30	)		—
Change in value of contingent liability due to estimated future revenue milestones		—		—			(712	)
Change in value of contingent liability due to assignment of rights to Soleno		—		—			—
Balance at December 31, 2022	$	34,241		1			8,835