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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Recorded at Fair Value on a Recurring Basis

The following table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the level of inputs used in such measurements (in thousands):

 

 

 

As of June 30, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

94,679

 

 

$

 

 

$

 

 

$

94,679

 

Total assets

 

$

94,679

 

 

$

 

 

$

 

 

$

94,679

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2021

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

115,595

 

 

$

 

 

$

 

 

$

115,595

 

Total assets

 

$

115,595

 

 

$

 

 

$

 

 

$

115,595

 

Summary of the Changes in the Fair Value of the Company’s Liability

The following tables set forth a summary of the changes in the fair value of the Company’s liability measured using Level 3 inputs (in thousands):

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Balance at beginning of period

 

$

 

 

$

536

 

 

$

 

 

$

320

 

Change in estimated fair value of Series E warrants

 

 

 

 

 

70

 

 

 

 

 

 

286

 

Balance at end of period

 

$

 

 

$

606

 

 

$

 

 

$

606