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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2026

Fair Value Measurements [Abstract]

Schedule of Financial Assets and Liabilities Measured on a Recurring Basis

The following tables set forth the fair value of the Company’s financial assets and liabilities measured on a recurring basis by level within the fair value hierarchy (in thousands):

		March 31, 2026
		Level 1				Level 2				Level 3				Total
Financial assets
Money market funds		$	13,144			$	—			$	—			$	13,144
Total fair value of assets		$	13,144			$	—			$	—			$	13,144
Financial liabilities
Warrant liability		$	—			$	—			$	6,524			$	6,524
Total fair value of financial liabilities		$	—			$	—			$	6,524			$	6,524

		December 31, 2025
		Level 1				Level 2				Level 3				Total
Financial assets
Money market funds		$	27,692			$	—			$	—			$	27,692
Total fair value of assets		$	27,692			$	—			$	—			$	27,692
Financial liabilities
Warrant liability		$	—			$	—			$	16,164			$	16,164
Total fair value of financial liabilities		$	—			$	—			$	16,164			$	16,164

Schedule of Changes in the Company’s Warrant Liability

During the three months ended March 31, 2026, the changes in the Company’s warrant liability were as follows (in thousands):

		Warrant Liability
Fair Value as of December 31, 2025		$	16,164
Change in the fair value			(9,640	)
Fair Value as of March 31, 2026		$	6,524

Schedule of Estimate the Fair Value of the Warrant Liability

The key inputs into valuation models used to estimate the fair value of the warrant liability as of March 31,2026 and December 31, 2025 were as follows:

		March 31,				December 31,
		2026				2025
Common stock price		$	.88			$	1.83
Expected term (in years)			3.98				4.22
Expected volatility			115.68	%			113.30	%
Risk-free interest rate			3.86	%			3.66	%

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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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 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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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/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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-SubTopic 10
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-Subparagraph (a)
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