Warrants (Tables)

9 Months Ended

Sep. 30, 2024

Warrants and Rights Note Disclosure [Abstract]

Schedule of Derivatives Fair Value Assumptions

The table below presents the value of the RDO warrants under the Black-Scholes OPM using the following assumptions as of the following dates:

	December 31, 2023
Value of each RDO warrant	$	1.69
Exercise price	$	2.32
Common stock price	$	2.14
Expected option term (years)	5.0
Expected volatility	110.00%
Risk-free rate of return	3.80%
Expected annual dividend yield	—%

The table below presents the value of the 2024 RDO warrants under the Black-Scholes OPM using the following assumptions as of the following dates:

	September 30, 2024		February 28, 2024
Value of each 2024 RDO warrant	$	1.09	$	2.62
Exercise price	$	3.78	$	3.78
Common stock price	$	1.46	$	3.14
Expected option term (years)	4.9		5.5
Expected volatility	121.90%		117.60%
Risk-free rate of return	3.50%		4.20%
Expected annual dividend yield	—%		—%

The table below presents the value of the PIPE warrants under the Black-Scholes OPM using the following assumptions as of the following dates:

	January 19, 2023
Value of each PIPE warrant	$	1.22
Exercise price	$	2.39
Common stock price	$	1.87
Expected option term (years)	5.5
Expected volatility	82.10%
Risk-free rate of return	3.40%
Expected annual dividend yield	—%

The table below presents the value of the 2024 PIPE warrant under the Black-Scholes OPM using the following assumptions as of the following dates:

	September 30, 2024		March 4, 2024
Value of each 2024 PIPE warrant	$	1.05	$	3.11
Exercise price	$	4.75	$	4.75
Common stock price	$	1.46	$	3.75
Expected option term (years)	4.9		5.5
Expected volatility	121.90%		117.00%
Risk-free rate of return	3.50%		4.10%
Expected annual dividend yield	—%		—%

The table below presents the value of the IPO private warrants under the Black-Scholes OPM using the following assumptions as of the following dates:

	September 30, 2024		December 31, 2023
Fair value of each IPO private warrant	$	0.15	$	0.38
Exercise price	$	11.50	$	11.50
Common stock price	$	1.46	$	2.14
Expected option term (in years)	2.2		2.9
Expected volatility	93.00%		82.30%
Risk-free rate of return	3.60%		4.00%
Expected annual dividend yield	—%		—%

Schedule of Derivatives Change in Fair Value

The following was recognized as a result of the change in fair value for the three and the nine months ended September 30, 2024 and September 30, 2023 and is presented in net (decrease) increase in fair value of derivatives on the consolidated statements of operations:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
(Gain) loss on change in fair value of IPO warrants	$	(4)	$	56	$	(39)	$	89