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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2024
Fair Value Measurements (Tables) [Line Items]  
Schedule of Financial Liabilities that are Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s financial liabilities that are measured at fair value on a recurring basis as of December 31, 2024 and December 31, 2023, by level within the fair value hierarchy (in thousands):

 

   Fair value measured as of December 31, 2024 
   Fair value at
December 31,
2024
   Quoted
prices
in active
markets
(Level 1)
   Significant
other
observable
inputs
(Level 2)
   Significant
unobservable
inputs
(Level 3)
 
Warrant liabilities  $6,451   $6,409   $
                          -
   $41 
Short-term notes payable- Yorkville   2,365    
-
    
-
    2,365 
   $8,816   $6,409   $
-
   $2,406 
     
   Fair value measured as of December 31, 2023 
   Fair value at
December 31,
2023
   Quoted
prices
in active
markets
(Level 1)
   Significant
other
observable
inputs
(Level 2)
   Significant
unobservable
inputs
(Level 3)
 
Warrant liabilities  $1,818   $1,771   $
                          -
   $47 
Schedule of Changes in Level 3 Warrant Liabilities Measured at Fair Value

The following table presents changes in Level 3 warrant liabilities measured at fair value for the years ended December 31, 2024 and 2023 (in thousands):

 

Balance - January 1, 2023  $129 
Change in fair value   (82)
Balance - January 1, 2024  $47 
Change in fair value   (6)
Balance - December 31, 2024  $41 
Schedule of Quantitative Information Regarding Level 3 Warrant Liability Fair Value Measurements Inputs at Their Measurement

The following table provides quantitative information regarding Level 3 warrant liability fair value measurements inputs at their measurement:

 

   December 31,   December 31, 
   2024   2023 
         
Strike price (per share)  $7.32   $7.32 
Contractual term (years)   2.5    3.5 
Volatility (annual)   70.6%   71.2%
Risk-free rate   4.3%   4.0%
Dividend yield (per share)   0.0%   0.0%
Schedule of Rollforward of the Aggregate Fair Values of the Company’s Yorkville Debt

The following table provides a rollforward of the aggregate fair values of the Company’s Yorkville debt for which fair values are determined using Level 3 inputs (in thousands):

 

Balance as of January 1, 2024  $
-
 
Addition of short-term notes payable   11,500 
Principal repayments   (9,355)
Fair value adjustment   220 
Balance as of December 31, 2024   2,365 
Fair Value Measurements [Member]  
Fair Value Measurements (Tables) [Line Items]  
Schedule of Quantitative Information Regarding Level 3 Warrant Liability Fair Value Measurements Inputs at Their Measurement

The following table provides quantitative information regarding Level 3 fair value measurements inputs at their measurement:

 

   December 31, 
   2024 
     
Expected term (years)   0.05 – 0.13 
Volatility (annual)   100%
Risk-free rate   4.34 – 4.35%