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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Mar. 31, 2023
Fair Value Disclosures [Abstract] |
SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS | The following table provides a summary of financial assets measured at fair value on a recurring and non-recurring basis as of March 31, 2023 and December 31, 2022 (in thousands): SCHEDULE OF FAIR VALUE, ASSETS AND LIABILITIES MEASURED ON RECURRING AND NON-RECURRING BASIS
Description |  | Fair Value at March 31, 2023 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Recurring Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 4,133 |  |  | $ | 4,133 |  |  | $ | — |  |  | $ | — |
Short-term investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury and federal agency securities |  |  | 35,684 |  |  |  | — |  |  |  | 35,684 |  |  |  | — |
Total assets measured at fair value |  | $ | 39,817 |  |  | $ | 4,133 |  |  | $ | 35,684 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrant liabilities |  | $ | 17,392 |  |  |  | — |  |  |  | — |  |  | $ | 17,392 |
Total liabilities measured at fair value |  | $ | 17,392 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,392 |
Description |  | Fair Value at December 31, 2022 |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Recurring Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 12,923 |  |  | $ | 12,923 |  |  | $ | — |  |  | $ | — |
Short-term investments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury and federal agency securities |  |  | 37,932 |  |  |  | — |  |  |  | 37,932 |  |  |  | — |
Total assets measured at fair value |  | $ | 50,855 |  |  | $ | 12,923 |  |  | $ | 37,932 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Warrant liabilities |  | $ | 19,657 |  |  |  | — |  |  |  | — |  |  | $ | 19,657 |
Total liabilities measured at fair value |  | $ | 19,657 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,657 |
SCHEDULE OF ESTIMATE FAIR VALUE OF WARRANTS | SCHEDULE OF ESTIMATE FAIR VALUE OF WARRANTS
|  | As of March 31, |
|  | 2023 |  |  | 2022 |
Common share price |  | $ | 2.82 |  |  | $ | 8.00 |
Expected term (years) |  |  | 3.72 – 4.59 |  |  |  | 4.72 |
Risk-free interest rate (%) |  |  | 3.56% – 3.65% |  |  |  | 2.40% |
Volatility (%) |  |  | 103.82% – 110.51% |  |  |  | 101.36% |
SCHEDULE OF ACTIVITY OF WARRANT LIABILITIES | The following table provides a summary of the activity on the warrant liabilities (in thousands): SCHEDULE OF ACTIVITY OF WARRANT LIABILITIES
Warrant liabilities as of December 31, 2022 |  | $ | 19,657 |
Gain recognized in earnings from change in fair value |  |  | (2,265 | )
Loss recognized in earnings from change in fair value |  |  | - |
Warrant liabilities as of March 31, 2023 |  | $ | 17,392 |

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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