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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis
The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis as required by ASC 820, by level, within the fair value hierarchy as of December 31, 2023 and 2022 (in thousands):
December 31, 2023
Fair ValueLevel 1Level 2Level 3
Liability
Contingent earnout shares liability$41 $— $— $41 
Derivative liability, current$860 $— $— $860 
Convertible debt, current$16,052 $— $— $16,052 
Derivative liability, non-current$25,919 $— $— $25,919 
Warrant liability, non-current$17,390 $— $17,390 $— 
December 31, 2022
Fair ValueLevel 1Level 2Level 3
Liability
Contingent earnout shares liability$3,013 $— $— $3,013 
Warrant liability$17,171 $— $17,171 $— 
Schedule of Fair Value of the Initial Loans Based on Assumptions The Company estimated the fair value of the August and September Initial Loans, as defined in Note 9, based on assumptions used in the Monte Carlo simulation model using the following inputs as of the end of the reporting period:
August Convertible DebentureSeptember Convertible Debenture
Expected term (in years)0.750.90
Stock price$0.26 $0.26 
Interest rate3.0 %3.0 %
Expected volatility121.3 %121.0 %
Expected dividend rate— — 
Risk free rate5.0 %4.8 %
The following table summarizes the Company’s total stock-based compensation expense by line item for the years ended December 31, 2023 and 2022 (in thousands):
Year Ended December 31,
20232022
Research and development$6,711 $31,083 
Selling, general and administrative23,495 48,490 
Total
$30,206 $79,573 
The fair value of the warrants at the issuance date was measured using the Black-Scholes-Merton option pricing model. The key inputs used in the valuation were as follows:
Expected term (years)10.0
Risk free interest rate3.0 %
Expected volatility91.3 %
Dividend yield— %
Exercise price$2.15 
Stock price$3.63 
The fair value of the warrants at the expiration of the option period was measured using the Black-Scholes-Merton option pricing model. The key inputs used in the valuation were as follows:
Expected term (years)0.9
Expected volatility116.4 %
Dividend yield— %
Risk free rate4.7 %
Estimated fair value per warrant$0.57 
Exercise price$1.05 
Stock price$1.20 
        
The fair value of the warrants was measured using the Black-Scholes-Merton option pricing model. The key inputs used in the valuation were as follows:
Expected term (years)4.6
Expected volatility121.7 %
Expected dividend rate— %
Risk free rate3.8 %
Estimated fair value per warrant$0.16 
Exercise price$1.30 
Stock price$0.26 
The warrants are liability classified and subject to periodic remeasurement. The fair value of the warrants was measured using the Black-Scholes option pricing model. The key inputs used in the valuation were as follows:

Expected term (years)5.0
Expected volatility121.7 %
Expected dividend rate— %
Risk free rate3.8 %
Estimated fair value per warrant$0.19 
Exercise price$0.67 
Stock price$0.26 
The warrants are liability classified and subject to periodic remeasurement. The fair value of the warrants was measured using the Black-Scholes option pricing model. The key inputs used in the valuation were as follows:

Expected term (years)4.8
Expected volatility121.7 %
Expected dividend rate— %
Risk free rate3.8 %
Estimated fair value per warrant$0.19 
Stock Price$0.26 
Exercise Price$0.65 
The key inputs used in the valuation were as follows:
Expected term (years)5.1
Expected volatility121.7 %
Expected dividend rate— %
Risk free rate3.8 %
Estimated fair value per warrant$0.19 
Exercise price$0.67 
Stock price$0.26 
The key inputs used in the valuation on October 5, 2023 were as follows:
July Convertible DebentureAugust Convertible DebentureSeptember Convertible Debenture
Expected term (years)4.74.85.0
Expected volatility108.0 %108.0 %108.0 %
Expected dividend rate— %— %— %
Risk free rate4.6 %4.6 %4.6 %
Estimated fair value per warrant$0.34 $0.34 $0.34 
Exercise price$0.54 $0.54 $0.54 
Stock price$0.44 $0.44 $0.44 
The key inputs used in the valuation were as follows:
Expected term (years)4.8
Risk free rate3.8 %
Expected volatility121.7 %
Expected dividend rate— %
Exercise price$0.56 
Stock price$0.26 
Estimated fair value per warrant$0.19 
Schedule of Fair Value of Convertible Debt and Earnout Shares Liability
Following is a summary of the change in fair value of the Convertible debt accounted for under the fair value option for the years ended December 31, 2023 and 2022 (in thousands).
Year Ended December 31,
Convertible Debt20232022
Beginning fair value$— $— 
Addition during the year71,438 — 
Payments during the year(48,533)— 
Change in fair value during the year(6,853)— 
Ending fair value$16,052 $— 
Following is a summary of the change in fair value of the Earnout Shares liability for the years ended December 31, 2023 and 2022 (in thousands).
Year Ended December 31,
Earnout Shares Liability20232022
Beginning fair value$3,013 $29,057 
Change in fair value during the year(2,972)(26,044)
Ending fair value$41 $3,013 
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation
Year Ended December 31,
Derivative liability20232022
Beginning fair value$— $— 
Addition during the year38,427 — 
Change in fair value during the year(10,874)— 
Derecognition of liability upon extinguishment of convertible debt(774)— 
Ending fair value$26,779 $— 
Year Ended December 31,
Derivative asset2023—2022
Beginning fair value$— $— 
Addition during the year5,966 — 
Change in fair value during the year(5,966)— 
Ending fair value— —