FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2022

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, 2022
	Level 1		Level 2		Level 3		Total
2017 Placement Warrants Liability	$	—	$	—	$	2,349	$	2,349
2016 Placement Warrants Liability	—		—		774		774
Total	$	—	$	—	$	3,123	$	3,123

	At December 31, 2021
	Level 1		Level 2		Level 3		Total
2017 Placement Warrants Liability	$	—	$	—	$	5,030	$	5,030
2016 Placement Warrants Liability	—		—		1,765		1,765
Total	$	—	$	—	$	6,795	$	6,795

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):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
Fair value, beginning of period	$	1,910	$	9,212	$	6,795	$	4,864
Change in fair value of Level 3 financial liabilities	1,213		876		(3,672)		5,577
Fair value of 2016 Placement Warrants at exercise	—		—		—		(2)
Fair value of 2017 Placement Warrants at exercise	—		—		—		(351)
Fair value, end of period	$	3,123	$	10,088	$	3,123	$	10,088