Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Liabilities Measured at Fair Value on a Recurring Basis

Liabilities measured at fair value on a recurring basis as of June 30, 2024, are summarized as follows:

in thousands	Level	June 30, 2024		December 31, 2023
Derivative liability	3	$	128	$	37
Warrant liability	2		40,961		268
Total		$	41,089	$	305

Fair Value Measurements within the Fair Value Hierarchy of Derivative Liabilities Using Level 3 Inputs

The following table details the roll-forward of the Level 3 liabilities during the six months ended June 30, 2024:

in thousands	Derivative liability
Balance at December 31, 2023	$	(37	)
Change in fair value of derivative liability		(78	)
Issuance of note		(13	)
Balance at June 30, 2024	$	(128	)

Embedded Derivative Liability Valuation Assumptions

The embedded derivative liability is valued at each of the reporting period; the following table details the significant market-based inputs:

	June 30, 2024			December 31, 2023
Price of Common Stock	$	0.46		$	2.27
Volatility		40	%		40	%
Market Risk Spread		11.58	%		12.37	%
Expected Term (in years)		1.25			1.25