Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Liabilities

The following table sets forth the fair value of the Company’s financial liabilities by level within the fair value hierarchy (in thousands): 

	At September 30, 2020
	Level 1		Level 2		Level 3		Total
2017 Placement Warrants Liability	$	—	$	—	$	3,092	$	3,092
2016 Placement Warrants Liability		—		—		1,000		1,000
Total	$	—	$	—	$	4,092	$	4,092

	December 31, 2019
	Level 1		Level 2		Level 3		Total
2017 Placement Warrants Liability	$	—	$	—	$	1,330	$	1,330
2016 Placement Warrants Liability		—		—		4,043		4,043
Total	$	—	$	—	$	5,373	$	5,373

Summary of Changes in Fair Value of Level 3 Financial Liabilities

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

	Nine Months Ended September 30,
	2020			2019
Fair value, beginning of period	$	5,373		$	11,844
Change in fair value of Level 3 financial liabilities		(1,281	)		(4,674	)
Fair value of 2016 Placement Warrants at exercise		—			(3,458	)
Fair value of 2017 Placement Warrants at exercise		—			(518	)
Fair value, end of period	$	4,092		$	3,194