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Financial Instruments and Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Summary of Cash Equivalents and Conversion Right Liability's Carrying Value and Fair Value

The Company’s financial instruments consist of money market funds. The following tables show the Company’s cash equivalent's carrying value and fair value at December 31, 2023 and 2022 (in thousands):

 

 

 

As of December 31, 2023

 

 

 

Carrying
Amount

 

 

Fair
Value

 

 

Quoted
Priced in
active markets
(Level 1)

 

 

Significant other
observable inputs
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

3,243

 

 

$

3,243

 

 

$

3,243

 

 

$

 

 

$

 

Total assets

 

$

3,243

 

 

$

3,243

 

 

$

3,243

 

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2022

 

 

 

Carrying
Amount

 

 

Fair
Value

 

 

Quoted
Priced in
active markets
(Level 1)

 

 

Significant other
observable inputs
(Level 2)

 

 

Significant
unobservable
inputs
(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

3,074

 

 

$

3,074

 

 

$

3,074

 

 

$

 

 

$

 

Total assets

 

$

3,074

 

 

$

3,074

 

 

$

3,074

 

 

$

 

 

$