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Common Stock Warrants | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Common Stock Warrants | Common Stock Warrants The Company issued warrants exercisable to purchase Company common stock in connection with its issuances of Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock (collectively, the “Common Stock Warrants”). The Company revalues the Common Stock Warrants at each balance sheet date and recognized a loss of $1.5 million and a loss of $0.4 million during the three months ended March 31, 2024 and 2023, respectively. The Common Stock Warrant liabilities are included in Level 3 of the fair value hierarchy. The assumptions used in the Monte Carlo simulation model to estimate the fair value of the Common Stock Warrants are as follows:
| March 31, 2024 |  | December 31, 2023
Stock price | $ | 5.68 |  |  | $ | 4.77 |
Exercise price | $ | 0.01 |  |  | $ | 0.01 |
Risk-free rate | 5.1 | % |  | 4.7 | %
Volatility | 68.3 | % |  | 78.4 | %
Weighted average term (years) | 0.5 |  | 0.5

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- Definition The disclosure for shareholders' equity comprising preferred stock and common stock warrants. + References No definition available. + Details
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- References No definition available. + Details
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