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WARRANTS (Tables)
12 Months Ended
Dec. 31, 2021
Warrants and Rights Note Disclosure [Abstract]  
Warrants and Rights Outstanding, Valuation Assumptions The following assumptions were used to estimate the fair value of the preferred stock warrants as of November 3, 2021 and December 31, 2020:
November 3,
2021
December 31,
2020
Expected term (in years)4.915.75
Fair value of underlying shares$15.00 $5.38 
Risk-free interest rate1.17 %0.47 %
Volatility63.0 %65.1 %
Expected dividend yield— %— %
Warrants and Rights Outstanding, Activity
Following is a summary of the terms of the warrants and warrant activity as well as warrants outstanding at December 31, 2021:
Date of issuanceOctober 2015/ March 2016October 1, 2016July 2018 - Allotment 1July 2018 - Allotment 2
Number of warrants2,103,930 157,580 122,735 184,100 
Exercise Price$0.10 $0.07 $1.28 $1.28 
StatusVestedVestedVestedPartially vested
ExpirationOctober 2024October 2026July 2028July 2028
Date of issuanceOctober 2015/ March 2016October 2016July 2018
Outstanding at December 31, 2019
717,225 157,580 306,835 
Exercised 2020
— — — 
Outstanding at December 31, 2020
717,225 157,580 306,835 
Exercised 2021
717,225 157,580 276,151 
Outstanding at December 31, 2021
— — 30,684 
Fair value at December 31, 2021 (in thousands)
$— $— $15