FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023
	Level 1		Level 2		Level 3		Total
2017 Placement Warrants Liability	$	—	$	—	$	1,718	$	1,718
2016 Placement Warrants Liability	—		—		516		516
Total	$	—	$	—	$	2,234	$	2,234

	At December 31, 2022
	Level 1		Level 2		Level 3		Total
2017 Placement Warrants Liability	$	—	$	—	$	3,127	$	3,127
2016 Placement Warrants Liability	—		—		1,051		1,051
Total	$	—	$	—	$	4,178	$	4,178

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 March 31,
	2023		2022
Fair value, beginning of period	$	4,178	$	6,795
Change in fair value of Level 3 financial liabilities	(1,944)		(2,830)
Fair value of 2016 Placement Warrants at exercise	—		—
Fair value of 2017 Placement Warrants at exercise	—		—
Fair value, end of period	$	2,234	$	3,965