Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis

The following table summarizes financial liabilities that the Company measured at fair value on a recurring basis, classified in accordance with the fair value hierarchy (in thousands):

				Fair Value Measurements at Report Date Using
	Total			(Level 1)		(Level 2)		(Level 3)
As of December 31, 2020
Embedded derivative liability	$	(1,604	)	$	—	$	—	$	(1,604	)

Fair Value Measurement Inputs and Valuation Techniques

The following table summarizes information about the significant unobservable inputs used in the fair value measurements for the derivative liability:

	March 19, 2021			December 31, 2020			August 20, 2020
Probability of financing		100	%		90	%		90	%
Probability of dissolution		—			10	%		10	%
Time to liquidity (years)		—		0.50 - 1.00			0.83 - 1.33
Discount rate		7.6	%		8.3	%		11.9	%

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of the fair value of the derivative liability using Level 3 significant unobservable inputs (in thousands):

	Derivative Liability
Fair value at December 31, 2019	$	—
Fair value of derivative liability at issuance of convertible promissory note		(1,791	)
Change in fair value of derivative liability (Note 7)		187
Fair value at December 31, 2020		(1,604	)
Change in fair value of embedded derivative liability		(205	)
Reclassification of derivative liability into convertible preferred stock resulting from conversion of convertible promissory note		1,809
Fair value at December 31, 2021	$	—