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Financial Instruments and Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2022
Financial Instruments and Fair Value Measurements  
Summary of financial assets and liabilities measured at fair value

As of September 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

$

42,260

$

$

$

42,260

Total assets

$

42,260

$

$

$

42,260

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

Nine Months Ended September 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

1,976

1,976

Balance at September 30, 2021

$

10,918

$

$

10,918

Schedule of significant unobservable inputs for SAFE

March 25,

September 30,

2021

    

2021

(Issuance)

Expected term (in years)

 

0.02

0.35

Discount upon conversion

 

20.0%

20.0%

Discount upon implied return

 

18.9%

18.9%

Probability of IPO occurrence

 

90.0%

45.0%

Probability of dissolution event occurrence

2.0%

15.0%

Probability of equity financing occurrence

7.0%

37.0%

Probability of change of control occurrence

1.0%

3.0%