Redeemable Convertible Preferred Stock Tranche Liability (Tables)

6 Months Ended

Jun. 30, 2022

Temporary Equity Disclosure [Abstract]

Schedule of Valuation of the Redeemable Convertible Preferred Stock Tranche Liability

The following reflects the significant quantitative inputs used in the valuation of the redeemable convertible preferred stock tranche liability:

	Series A-1 Tranche Call Option
Estimated fair value of redeemable convertible preferred stock	$6.94 - $11.10
Discount rate		0.10	%
Dividend yield		0	%
Expected term (years)	0.25 - 0.45
Expected volatility	N/A
Probability of milestone achievement	80% - 100%
Strike price	$	7.80
Fair value of each tranche feature	$0.86 - $3.32

Schedule of the Rollforward Redeemable Convertible Preferred Stock Tranche Liability

A rollforward of the redeemable convertible preferred stock tranche liability is as follows (in thousands):

Balance at December 31, 2020	$	551
Change in fair value		11,718
Settlement upon issuance of Series A-1 redeemable convertible preferred stock		(12,269	)
Balance at June 30, 2021	$	—