Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024 are summarized as follows (in thousands):

Description	Balance as of December 31, 2024		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets
Cash equivalents:
Money market funds	$	76,089	$	76,089	$	—	$	—
Total cash equivalents	$	76,089	$	76,089	$	—	$	—
Total financial assets	$	76,089	$	76,089	$	—	$	—
Liabilities
CVR liability	$	2,900	$	—	$	—	$	2,900
Total financial liabilities	$	2,900	$	—	$	—	$	2,900

Financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2023 are summarized as follows (in thousands):

Description	Balance as of December 31, 2023		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Assets
Cash equivalents:
Money market funds	$	24,100	$	24,100	$	—	$	—
Total cash equivalents	$	24,100	$	24,100	$	—	$	—
Restricted cash equivalents:
Money market funds	$	5,000	$	5,000	$	—	$	—
Total restricted cash equivalents	$	5,000	$	5,000	$	—	$	—
Total financial assets	$	29,100	$	29,100	$	—	$	—
Liabilities
Convertible notes	$	38,595	$	—	$	—	$	38,595
Total financial liabilities	$	38,595	$	—	$	—	$	38,595

Summary of Fair Value Measurement Significant Inputs

The fair value is based on significant inputs not observable in the market, namely potential financing scenarios, the likelihood of such scenarios, the expected time for each scenario to occur, and the required market rates of return utilized in modeling these scenarios.

Year Ended December 31, 2023	Scenario 1	Scenario 2	Scenario 3
Probability of each scenario	80%	15%	5%
Expected Term (years)	0.25	0.25	0.42
Required market rates of return	15.0%	15.0%	15.0%