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Warrant Liability (Tables)
6 Months Ended
Jun. 30, 2025
Warrants and Rights Note Disclosure [Abstract]  
Schedule of Roll-forward of the Warrant Liability

The table below presents a roll-forward of the warrant liability from December 31, 2024 to June 30, 2025:

 

(in thousands)

 

 

 

Warrant Liability

 

Balance at December 31, 2024

$

(22,373

)

Issuance of warrants

 

(22,033

)

Change in fair value of outstanding warrants

 

17,347

 

Balance at June 30, 2025

$

(27,059

)

Summary of Activity of Shares Underlying Warrants

The table below presents a summary of activity of the shares underlying the warrants from December 31, 2024 to June 30, 2025:

 

 

 

 

 

 

Weighted Average

 

 

 

# of Shares

 

 

Exercise Price

 

Balance at December 31, 2024

 

 

9,962,727

 

 

$

0.0032

 

Issued

 

 

9,610,600

 

 

$

0.0001

 

Balance at June 30, 2025

 

 

19,573,327

 

 

$

0.0017

 

See