Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Measurements

Schedule of assets and liabilities measured and recorded in financial statements at fair value on a recurring basis

	March 31, 2023
(In thousands)	Total		Level 1		Level 2		Level 3
Assets
Cash	$	500	$	500	$	—	$	—
Cash equivalents – money market funds		1,618		1,618		—		—
Total assets	$	2,118	$	2,118	$	—	$	—
Liabilities
Series X Preferred Stock liability	$	34,800	$	—	$	—	$	34,800
Total liabilities	$	34,800	$	—	$	—	$	34,800

	December 31, 2022
(In thousands)	Total		Level 1		Level 2		Level 3
Assets
Cash	$	3,342	$	3,342	$	—	$	—
Cash equivalents – money market funds		8,702		8,702		—		—
Total assets	$	12,044	$	12,044	$	—	$	—
Liabilities
Warrant liability	$	2,819	$	—	$	—	$	2,819
Series X Preferred Stock liability		34,300		—		—		34,300
Total liabilities	$	37,119	$	—	$	—	$	37,119

Schedule of reconciliation measured at fair value on a recurring basis using unobservable inputs

			Series X
	Warrant		Preferred Stock
(In thousands)	Liability		Liability
Balance, December 31, 2022	$	2,819	$	34,300
Change in fair value		874		500
Reclassification to stockholders' equity (1)		(3,693)		—
Balance, March 31, 2023	$	—	$	34,800

(1) During the three months ended March 31, 2023, the Company’s liability-classified warrants, representing warrants exercisable for Series Z Preferred Stock, were reclassified to stockholders’ equity upon conversion of such warrants to warrants exercisable for common stock in January 2023.