Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Measurements [Abstract]

Schedule of Financial Assets and Liabilities Measured on a Recurring Basis

The following tables set forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy (in thousands):

	December 31, 2023
	Level 1		Level 2		Level 3		Total
Financial assets
Money market funds	$	85,887	$	—	$	—	$	85,887
Total fair value of assets	$	85,887	$	—	$	—	$	85,887
Financial liabilities
Earnout liability	$	—	$	—	$	—	$	—
Total fair value of financial liabilities	$	—	$	—	$	—	$	—

	December 31, 2022
	Level 1		Level 2		Level 3		Total
Financial assets
Money market funds	$	37,250	$	—	$	—	$	37,250
Total fair value of assets	$	37,250	$	—	$	—	$	37,250
Financial liabilities
Common stock warrant liability	$	150	$	—	$	—	$	150
Earnout liability		—		—		18		18
Total fair value of financial liabilities	$	150	$	—	$	18	$	168

Schedule of Changes in the Fair Value of the Company’s Level 3 Financial Liabilities

The following table sets forth a summary of the changes in the fair value of the Company’s Level 3 financial liabilities (in thousands):

	Earnout Liability
Fair Value as of December 31, 2021	$	5,743
Change in the fair value included in other income		(5,725	)
Fair Value as of December 31, 2022	$	18
Fair Value as of December 31, 2022	$	18
Change in the fair value included in other income		(18	)
Fair Value as of December 31, 2023	$	—

Schedule of Fair Value Measurements

The following table presents quantitative information about the inputs and valuation methodologies used for the Company’s fair value measurements classified in Level 3 of the fair value hierarchy at December 31, 2023:

		Fair value (in thousands)	Valuation methodology	Significant unobservable input
Earnout liability	$	—	Monte Carlo Simulation	Common stock price	$	7.9
				Expected term (in years)		0.73
				Expected volatility		94.0	%
				Risk-free interest rate		4.92	%

	Fair value (in thousands)		Valuation methodology	Significant unobservable input
Earnout liability	$	18	Monte Carlo Simulation	Common stock price	$	4.8
				Expected term (in years)		1.73
				Expected volatility		105.0	%
				Risk-free interest rate		4.40	%