Debt and Warrants Transactions (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Summary of Assumptions Utilized

Below are specific assumptions utilized:

Convertible Notes Derivative	March 31, 2023			May 1, 2023			May 31, 2023			June 30, 2023
Common stock market price	$	1.16		$	1.22		$	1.21		$	1.11
Risk-free interest rate	4.68		%	4.68		%	4.91		%	5.42		%
Expected dividend yield	—			—			—			—
Expected term (in years)	0.75			0.67			0.59			0.50
Expected volatility	84.34		%	81.57		%	86.20		%	90.68		%

Below are the specific assumptions utilized:

Warrants	June 30, 2023
Common stock market price	$	1.11
Risk-free interest rate	3.95		%
Expected dividend yield	—
Expected term (in years)	4.12
Expected volatility	68.72		%

Additional Warrants	June 30, 2023
Common stock market price	$	1.11
Risk-free interest rate	3.95		%
Expected dividend yield	—
Expected term (in years)	4.62
Expected volatility	68.17		%

Balance of the Notes

The current balance of the Notes as of June 30, 2023 is as follows (unaudited, in thousands):

	Current
Gross Balance as of June 30, 2023	$	9,000
Unamortized Discount	(1,829)
Unamortized Issuance Costs	(109)
Net Balance as of June 30, 2023	$	7,062