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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Summary of Fair Value Hierarchy for Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s fair value hierarchy for its assets and liabilities that are measured at fair value on a recurring basis (in thousands):

 

 

 

Fair Value Measurements as of December 31, 2023 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

81

 

 

$

 

 

$

 

 

$

81

 

Total assets

 

$

81

 

 

$

 

 

$

 

 

$

81

 

 

 

 

 

 

 

 

 

 

 

 

 

Warrant liabilities

 

$

 

 

$

 

 

$

546

 

 

$

546

 

Total liabilities

 

$

 

 

$

 

 

$

546

 

 

$

546

 

Schedule Of Level 3 Inputs to Warrant Liabilities

As of December 31, 2023, the Level 3 inputs to the warrant liabilities are as follows:

 

 

 

December 31, 2023

 

Volatility

 

 

101.0

%

Term (in years)

 

 

1.3

 

Schedule of Reconciliation Company's Liabilities Measured at Fair Value on Recurring Basis

A reconciliation of the beginning and ending balances for the year ended December 31, 2024 for liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) is as follows (in thousands):

 

 

 

Warrant Liabilities

 

 

 

 

 

Balance as of December 31, 2023

 

$

546

 

Issuance of warrants

 

 

 

Adjustment to fair value

 

 

(546

)

Balance as of December 31, 2024