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v3.23.1

Summary of Significant Accounting Policies (Tables) | 3 Months Ended
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Mar. 31, 2023
Accounting Policies [Abstract] |
Schedule of Fair Value Assumptions | These two types of inputs have created the following fair-value hierarchy:
Level 1: | Quoted prices for identical instruments in active markets;
Level 2: | Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and
Level 3: | Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
The following table presents the fair value per warrant and the valuation assumptions under the Black-Scholes OPM as of March 31, 2023 and December 31, 2022:
|  |  | March 31, 2023 |  | December 31, 2022
Fair value per share |  |  | $ | 0.53 |  |  | $ | 0.17 |
Warrants outstanding |  |  | 7,732,168 |  |  | 7,732,168 |
Exercise price |  |  | $ | 11.50 |  |  | $ | 11.50 |
Common stock price |  |  | $ | 3.03 |  |  | $ | 1.98 |
Expected option term (years) |  |  | 3.42 years |  | 3.67 years
Expected volatility |  |  | 66.90 | % |  | 60.70 | %
Risk-free rate of return |  |  | 3.70 | % |  | 4.10 | %
Expected annual dividend yield |  |  | — | % |  | — | %
Schedule of Supplemental Cash Flow Information | The table below presents supplemental cash flow information during the following periods:
| Three Months Ended
| March 31, 2023 |  | March 31, 2022
Supplemental cash flow information: |  |  |
Cash paid (received) during the period for: |  |  |
Interest | $ | 2,069 |  |  | $ | 1,409 |
Non-Cash Investing and Financing Activities: |  |  |
Capital expenditures not yet paid | $ | 928 |  |  | $ | 1,213 |
Schedule of Property, Plant and Equipment, net | Expected useful lives for property, plant and equipment are reviewed at least annually. Estimated useful lives are as follows:
| Estimated useful life in years
Computer equipment | 3
Furniture and fixtures | 7
Laboratory equipment | 3-10
Leasehold improvements | shorter of 5 or lease term
Assets subject to finance lease | lease term

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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