Fair Value of Financial Assets and Liabilities (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2022

Schedule of Assets and Liabilities Measured at Fair Value

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 June 30, 2022 Using:
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents—money market funds	$	—	$	2,579	$	—	$	2,579
	$	—	$	2,579	$	—	$	2,579
Liabilities:
Embedded derivative liability	$	—	$	—	$	310	$	310
	$	—	$	—	$	310	$	310


	Fair Value Measurements as of December 31, 2021 Using:
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents—money market funds	$	20,000	$	27,793	$	—	$	47,793
	$	20,000	$	27,793	$	—	$	47,793
Liabilities:
Embedded derivative liability	$	—	$	—	$	821	$	821
	$	—	$	—	$	821	$	821

Summary of Aggregate Fair Values of Warrant Liability and Derivative Liability

The following table provides a roll-forward of the aggregate fair values financial instruments for which fair values are determined using Level 3 inputs:


(in thousands)	Embedded Derivative Liability
Balance as of December 31, 2021	$	821
Change in fair value	(511)
Balance as of June 30, 2022	$	310