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Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Summary of Changes in Fair Value of Outstanding Warrant and Tranche Liabilities

The following tables summarize the changes in fair value of our outstanding warrant liabilities, contingent earnout liability, SEPA derivative liability, and revenue base redemption liability for the three months ended March 31, 2025:

SPAC Warrant Liabilities						Fair Value at December 31, 2024						Change in Unrealized (Gains) Losses						Issuances (Settlements)						Fair Value at March 31, 2025
Public Warrants - Level 1						$	1,927					$	193					$	—					$	2,120
Private Placement Warrants - Level 2						4,872						487						—						5,359
Working Capital Warrants - Level 2						1,100						110						—						1,210
Total						$	7,899					$	790					$	—					$	8,689

Level 3 Liabilities						Fair Value at December 31, 2024						Change in Unrealized (Gains) Losses						Issuances (Settlements)												Fair Value at March 31, 2025
Contingent earnout liability						$	7,401					$	820					$	—											$	8,221
SEPA derivative liability						$	55					$	(32)					$	—											$	23
OrbiMed Warrants liability						$	362					$	19					$	366											$	747
Revenue base redemption liability						$	507					$	57					$	—											$	564

The following tables summarize the changes in fair value of our outstanding warrant liabilities, contingent earnout liability, and SEPA derivative liability for the three months ended March 31, 2024:

SPAC Warrant Liabilities						Fair Value at December 31, 2023						Change in Unrealized (Gains) Losses						Issuances (Settlements)						Fair Value at March 31, 2024
Public Warrants - Level 1						$	9,855					$	(1,574)					$	—					$	8,281
Private Placement Warrants - Level 2						5,871						(938)						—						4,933
Working Capital Warrants - Level 2						1,190						(190)						—						1,000
Total						$	16,916					$	(2,702)					$	—					$	14,214

Level 3 Liabilities						Fair Value at December 31, 2023						Change in Unrealized (Gains) Losses						Issuances (Settlements)												Fair Value at March 31, 2024
Contingent earnout liability						$	18,632					$	3,988					$	—											$	22,620
SEPA derivative liability						$	185					$	181					$	—											$	366

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- References

No definition available.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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