Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands):

	As of June 30, 2025
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	17,707	$	—	$	—	$	17,707
Liabilities
Warrants	$	—	$	—	$	2,228	$	2,228

	As of December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	38,822	$	—	$	—	$	38,822
Liabilities
Warrants	$	—	$	—	$	3,811	$	3,811

Schedule of Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

The significant inputs used in the valuation models to measure the fair value of the warrants are as follows:

	Valuation Date
	June 30, 2025			December 31, 2024
Common stock price	$	0.40		$	0.59
Risk-free rate		3.79	%		4.40	%
Expected term (in years)		4.98			5.47
Expected volatility		97.2	%		94.6	%
Dividend yield		0.0	%		0.0	%

Schedule of the Changes in the Fair Value of Liabilities

The following table presents the changes in the fair value of Level 3 liabilities for the year ended June 30, 2025 (in thousands):

	Warrant Liability
Balance at December 31, 2024	$	3,811
Change in fair value of warrant liability		(1,583	)
Balance at June 30, 2025	$	2,228