Stockholders' (Deficit) Equity (Tables)

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Summary of Change in Fair Value of Warrant Liability

The following table rolls forward the fair value of the HutchMed Warrant liability, the fair value of which is determined by Level 3 inputs at inception on August 7, 2021, and as of March 31, 2022:

		(In thousands)
Fair value at January 1, 2022	$		1,930
Decrease in fair value			(1,350	)
Fair value at March 31, 2022	$		580

Summary of Key Assumptions Used to Value Warrant

The key assumptions used to value the HutchMed Warrant were as follows:

	Inception			As of March 31, 2022
Risk-free interest rate		0.6	%		2.42	%
Expected term (in years)	4.0 years			3.36 years
Expected volatility of underlying stock		70.0	%		80.0	%
Expected dividend yield		-			-
Stock price	$	6.47		$	1.15