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Fair Value of Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Summary of Assets and Liabilities Measured at Fair Value | The following table sets forth by level, within the fair value hierarchy, the Company's assets and liabilities at fair value as of March 31, 2024 and December 31, 2023:
|  | March 31, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 10,115 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,115 |
U.S. treasury bills |  |  | 2,973 |  |  | — |  |  | — |  |  |  | 2,973 |
Certificates of deposit |  |  | 1,226 |  |  | — |  |  | — |  |  |  | 1,226 |
U.S. government securities |  |  | 489 |  |  | — |  |  | — |  |  |  | 489 |
U.S. government agency bonds |  | — |  |  |  | 500 |  |  | — |  |  |  | 500 |
Total assets |  | $ | 14,803 |  |  | $ | 500 |  |  | $ | — |  |  | $ | 15,303 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Warrant derivative liabilities |  | $ | — |  |  | $ | — |  |  | $ | 7,962 |  |  | $ | 7,962 |
Total liabilities |  | $ | — |  |  | $ | — |  |  | $ | 7,962 |  |  | $ | 7,962 |
|  | December 31, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 11,171 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,171 |
U.S. treasury bills |  |  | 5,942 |  |  | — |  |  | — |  |  |  | 5,942 |
Certificates of deposit |  |  | 983 |  |  | — |  |  | — |  |  |  | 983 |
Total assets |  | $ | 18,096 |  |  | $ | — |  |  | $ | — |  |  | $ | 18,096 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Warrant derivative liabilities |  | $ | — |  |  | $ | — |  |  | $ | 8,457 |  |  | $ | 8,457 |
Total liabilities |  | $ | — |  |  | $ | — |  |  | $ | 8,457 |  |  | $ | 8,457 |
Summary of Financial Assets Measured at Fair Value on Recurring Basis | The fair value of the Company’s financial assets that are measured at fair value on a recurring basis as of March 31, 2024 are as follows:
|  | March 31, 2024 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 10,115 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,115 |
Short-term investments |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury bills |  |  | 2,974 |  |  |  | — |  |  |  | (1 | ) |  |  | 2,973 |
Certificates of deposit |  |  | 490 |  |  |  | — |  |  |  | — |  |  |  | 490 |
U.S. government securities |  |  | 490 |  |  |  | — |  |  |  | (1 | ) |  |  | 489 |
Long-term investments |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | 735 |  |  |  | 1 |  |  |  | — |  |  |  | 736 |
U.S. government agency bonds |  |  | 500 |  |  |  | — |  |  |  | — |  |  |  | 500 |
Total |  | $ | 15,304 |  |  | $ | 1 |  |  | $ | (2 | ) |  | $ | 15,303 |
|  | December 31, 2023 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 11,171 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,171 |
U.S. treasury bills |  |  | 2,989 |  |  |  | 1 |  |  |  | — |  |  |  | 2,990 |
Short-term investments |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury bills |  |  | 2,952 |  |  |  | — |  |  |  | — |  |  |  | 2,952 |
Certificates of deposit |  |  | 490 |  |  |  | 1 |  |  |  | — |  |  |  | 491 |
Long-term investments |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | 490 |  |  |  | 2 |  |  |  | — |  |  |  | 492 |
Total |  | $ | 18,092 |  |  | $ | 4 |  |  | $ | — |  |  | $ | 18,096 |
Summary of Changes in the Fair Value of Warrant Liabilities | The change in fair value of warrant liabilities measured on a recurring basis using unobservable Level 3 inputs for the period ended March 31, 2024 is set forth below:
|  | Fair Value at December 31, 2023 |  |  | Change in Fair Value |  |  | Fair Value at March 31, 2024 |
Series A Warrant |  | $ | 4,462 |  |  | $ | (248 | ) |  | $ | 4,214 |
Series B Warrant |  |  | 3,995 |  |  |  | (247 | ) |  |  | 3,748 |
Total warrant liabilities |  | $ | 8,457 |  |  | $ | (495 | ) |  | $ | 7,962 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -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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- 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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