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Fair Value (Tables)
 9 Months Ended
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