XML 27 R17.htm IDEA: XBRL DOCUMENT v3.22.2
Financial Instruments and Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Financial Instruments and Fair Value Measurements  
Summary of financial assets and liabilities measured at fair value

As of June 30, 2022

Significant

Quoted Priced in

Significant Other

Unobservable

Active Markets

Observable Inputs

Inputs

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

Assets:

 

  

 

  

 

  

 

  

Money market funds

$

43,523

$

$

$

43,523

Total assets

$

43,523

$

$

$

43,523

As of December 31, 2021

Significant

Quoted Priced in

Significant Other

Unobservable

Active Markets

Observable Inputs

Inputs

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

Assets:

 

  

 

  

 

  

 

  

Money market funds

$

46,687

$

$

$

46,687

Total assets

$

46,687

$

$

$

46,687

Summary of changes in fair value of Level 3 liabilities

Six Months Ended June 30, 2021

Derivative

    

    

SAFE

    

Liability

    

Total

Balance at December 31, 2020

$

$

2,209

$

2,209

Fair value recognized upon the issuance of SAFE

 

8,942

 

 

8,942

Change in the fair value of the derivative liability

 

 

(2,209)

 

(2,209)

Change in the fair value of SAFE

1,044

1,044

Balance at June 30, 2021

$

9,986

$

$

9,986

Schedule of significant unobservable inputs for SAFE

March 25,

June 30,

2021

    

2021

(Issuance)

Expected term (in years)

 

0.17

0.35

Discount upon conversion

 

20.0%

20.0%

Discount upon implied return

 

18.9%

18.9%

Probability of IPO occurrence

 

45.0%

45.0%

Probability of dissolution event occurrence

15.0%

15.0%

Probability of equity financing occurrence

37.0%

37.0%

Probability of change of control occurrence

3.0%

3.0%