Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of financial liabilities measured at fair value on a recurring basis

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

	June 30, 2024
(In thousands)	Total		Level 1		Level 2		Level 3
Liabilities
Warrant liability - Series A	$	—	$	—	$	—	$	—
Warrant liability - Series B		755		—		—		755
Total liabilities	$	755	$	—	$	—	$	755

	December 31, 2023
(In thousands)	Total		Level 1		Level 2		Level 3
Liabilities
Warrant liability - Series A	$	15	$	—	$	—	$	15
Warrant liability - Series B		1,238		—		—		1,238
Total liabilities	$	1,253	$	—	$	—	$	1,253

Schedule of activity in the warrant liability measured at fair value on a recurring basis using unobservable inputs (Level 3)

The following table summarizes the activity in the warrant liability measured at fair value on a recurring basis using unobservable inputs (Level 3) during the six months ended June 30, 2024:

	Warrant Liability
(In thousands)	Series A			Series B			Total
Balance, December 31, 2023	$	15		$	1,238		$	1,253
Change in the fair value of liability		(15	)		(483	)		(498	)
Balance, June 30, 2024	$	—		$	755		$	755

Schedule of assumptions used for the fair value calculations of the warrants

Below are the assumptions used for the fair value calculations of the Series A Warrants and Series B Warrants (each defined below), as of June 30, 2024 and December 31, 2023:

	June 30, 2024						December 31, 2023
	Series A			Series B			Series A			Series B
Stock (ADS) price	$	2.70		$	2.70		$	3.12		$	3.12
Exercise price	$	17.00		$	17.00		$	17.00		$	17.00
Expected term (in years)		0.2			5.2			0.7			5.7
Expected volatility		135.0	%		85.0	%		85.0	%		95.0	%
Risk-free interest rate		5.5	%		4.3	%		5.1	%		3.9	%
Expected dividend yield		—			—			—			—