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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 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 December 31, 2022
Level 1Level 2Level 3Total
2017 Placement Warrants Liability$— $— $3,127 $3,127 
2016 Placement Warrants Liability— — 1,051 1,051 
Total Warrant Liability$— $— $4,178 $4,178 
At December 31, 2021
Level 1Level 2Level 3Total
2017 Placement Warrants Liability$— $— $5,030 $5,030 
2016 Placement Warrants Liability— — 1,765 1,765 
Total Warrant Liability$— $— $6,795 $6,795 
Summary of Changes in Fair Value of Level 3 Financial Liabilities
The following table summarizes the changes in the fair value of the Company’s Level 3 financial liabilities (in thousands):
Year Ended December 31,
202220212020
Fair value, beginning of period$6,795 $4,864 $5,373 
Change in fair value of Level 3 financial liabilities(2,617)2,284 (509)
Fair value of 2016 Placement Warrants at exercise— (2)— 
Fair value of 2017 Placement Warrants at exercise— (351)— 
Fair value, end of period$4,178 $6,795 $4,864