Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values:

	Fair Value Measurements as of December 31, 2020 Using:
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents—money market funds	$	16,816	$	28,018	$	—	$	44,834
	$	16,816	$	28,018	$	—	$	44,834
Liabilities:
Embedded derivative liability	$	—	$	—	$	455	$	455
	$	—	$	—	$	455	$	455

	Fair Value Measurements as of December 31, 2019 Using:
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents—money market fund	$	23,638	$	39,999	$	—	$	63,637
	$	23,638	$	39,999	$	—	$	63,637
Liabilities:
Embedded derivative liability	$	—	$	—	$	18	$	18
	$	—	$	—	$	18	$	18

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a roll-forward of the aggregate fair values of the Company’s warrant liability and derivative liability, for which fair values are determined using Level 3 inputs:

(in thousands)	Preferred Stock Warrant Liability		Embedded Derivative Liability
Balance as of December 31, 2018	$	4,947	$	201
Change in fair value	288		(183)
Conversion of convertible preferred stock warrant into common stock warrant in connection with Merger	(5,235)		—
Balance as of December 31, 2019	—		18
Change in fair value	—		437
Balance at December 31, 2020	$	—	$	455