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Fair Value (Tables) | 9 Months Ended
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Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Schedule of fair value hierarchy of liabilities measured at fair value on recurring basis |
|  | Fair Value Measurements on a Recurring Basis September 30, 2021 |
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Notes payable |  | $ | 983 |  |  | $ | - |  |  | $ | - |  |  | $ | 983 |
Warrant liability |  |  | - |  |  |  | - |  |  |  | 910 |  |  |  | 910 |
Clene Nanomedicine contingent earn-out |  |  | - |  |  |  | - |  |  |  | 33,981 |  |  |  | 33,981 |
Initial Shareholders contingent earn-out |  |  | - |  |  |  | - |  |  |  | 4,196 |  |  |  | 4,196 |
|  | Fair Value Measurements on a Recurring Basis December 31, 2020 |
(in thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Notes payable |  | $ | 1,296 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,296 |
Clene Nanomedicine contingent earn-out |  |  | - |  |  |  | - |  |  |  | 52,053 |  |  |  | 52,053 |
Initial Shareholders contingent earn-out |  |  | - |  |  |  | - |  |  |  | 5,906 |  |  |  | 5,906 |
Schedule of unobservable inputs to the conversion feature, warrant liability, and contingent earn-out valuation models |
|  | September 30, 2021 |  |  | December 31, 2020
Expected stock price volatility |  |  | 85.00 | % |  | N/A
Risk-free interest rate |  |  | 0.50 | % |  | N/A
Expected dividend yield |  |  | 0.00 | % |  | N/A
Expected term |  |  | 2.56 years |  |  | N/A
|  | September 30, 2021 |  |  | December 31, 2020
Expected stock price volatility |  |  | 35.00 | % |  | N/A
Risk-free interest rate |  |  | 0.07 | % |  | N/A
Expected dividend yield |  |  | 0.00 | % |  | N/A
Expected term |  |  | 0.09 years |  |  | N/A
|  | September 30, 2021 |  |  | December 31, 2020 |
Expected stock price volatility |  |  | 95.00 | % |  | N/A |
Risk-free interest rate |  |  | 0.90 | % |  | N/A |
Expected dividend yield |  |  | 0.00 | % |  | N/A |
Expected term |  |  | 3.89 years – 4.56 years |  |  | N/A |
|  | September 30, 2021 |  |  | December 31, 2020 |
Expected stock price volatility |  |  | 40.00 – 70.00 | % |  | N/A |
Risk-free interest rate |  |  | 0.07 | % |  | N/A |
Expected dividend yield |  |  | 0.00 | % |  | N/A |
Expected term |  |  | 0.09 years – 0.66 years |  |  | N/A |
|  | September 30, 2021 |  |  | December 31, 2020 |
Expected stock price volatility |  |  | 95.00 | % |  |  | 85.00 | %
Risk-free interest rate |  |  | 0.80 | % |  |  | 0.40 | %
Expected dividend yield |  |  | 0.00 | % |  |  | 0.00 | %
Expected term |  |  | 4.2 years |  |  |  | 5.00 years |
Schedule of changes in fair value of financial liabilities related to the notes payable, the derivative instrument, the preferred stock warrants, and the contingent earn-outs |
(in thousands) |  | Notes Payable |  |  | Clene Nanomedicine Contingent Earn-out |  |  | Initial Shareholders Contingent Earn-out |  |  | Warrant Liability |
Balance - December 31, 2020 |  | $ | 1,296 |  |  | $ | 52,053 |  |  | $ | 5,906 |  |  | $ | - |
Initial fair value of instrument |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1,457 |
Change in fair value |  |  | (313 | ) |  |  | (18,072 | ) |  |  | (1,710 | ) |  |  | (547 | )
Balance - September 30, 2021 |  | $ | 983 |  |  | $ | 33,981 |  |  | $ | 4,196 |  |  | $ | 910 |
(in thousands) |  | Notes Payable |  |  | Derivative Instrument |  |  | Preferred Stock Warrants |
Balance - December 31, 2019 |  | $ | 640 |  |  | $ | - |  |  | $ | 3,213 |
Issuance of convertible promissory notes |  |  | - |  |  |  | 705 |  |  |  | - |
Change in fair value |  |  | 323 |  |  |  | (29 | ) |  |  | 7,378 |
Extinguishment of derivative liability in connection with extinguishment of convertible promissory notes |  |  | - |  |  |  | (676 | ) |  |  | - |
Balance - September 30, 2020 |  | $ | 963 |  |  | $ | - |  |  | $ | 10,591 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of derivative liabilities at fair value. + References No definition available. + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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