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Financial Instruments and Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Financial Instruments and Fair Value Measurements  
Summary of financial assets and liabilities measured at fair value

As of December 31, 2022

Significant

Quoted Priced in

Significant Other

Unobservable

Active Markets

Observable Inputs

Inputs

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

Assets:

 

  

 

  

 

  

 

  

Money market funds

$

37,479

$

$

$

37,479

Total assets

$

37,479

$

$

$

37,479

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

Year Ended December 31, 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

2,236

2,236

Fair value recognized upon conversion of SAFE into common stock

(11,178)

(11,178)

Balance at December 31, 2021

$

$

$

Schedule of significant unobservable inputs for SAFE

October 7,

March 25,

2021

2021

    

(Conversion)

(Issuance)

Expected term (in years)

 

0.35

Discount upon conversion

 

20.0%

20.0%

Discount upon implied return

 

18.9%

18.9%

Probability of IPO occurrence

 

100.0%

45.0%

Probability of dissolution event occurrence

0.0%

15.0%

Probability of equity financing occurrence

0.0%

37.0%

Probability of change of control occurrence

0.0%

3.0%