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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Measurements  
Schedule of assets and liabilities measured at fair value

The financial assets and liabilities measured and recognized at fair value were as follows as of June 30, 2026 and December 31, 2025 (in thousands):

June 30, 2026

Total

Level 1

Level 2

Level 3

Investments in money market fund – financial assets, included in cash and cash equivalents

$

20,297

$

20,297

$

$

Convertible Loan– financial liabilities

163,904

163,904

December 31, 2025

Total

Level 1

Level 2

Level 3

Investments in money market fund – financial assets, included in cash and cash equivalents

$

4,218

$

4,218

$

$

Convertible Loan– financial liabilities

153,860

153,860

Schedule of estimated the fair value of its Convertible Loan using inputs

The Company estimated the fair value of its Convertible Loan using the following inputs during the year ended December 31, 2025:

December 31, 2025

Discount rate

18.43%-24.37%

Probabilities of settlement scenarios

0%-100%

Volatility

76.40%-101.30%

Expected term (in years)

0.20-1.00

Risk-free rate

3.63%-4.19%

Schedule of changes in the fair value of its Convertible Loan

The following table presents a summary of the changes in the fair value of its Convertible Loan for the six months ended June 30, 2026 and 2025 (in thousands):

Six Months Ended June 30,

2026

2025

Convertible Loan at the beginning of the period

$

153,860

$

32,897

Change in fair value

10,044

 

548

Convertible Loan at the end of the period

$

163,904

$

33,445