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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2023
Accounting Policies [Abstract] |
Schedule of Fair Value Hierarchy of Assets and Liabilities Measured on Recurring Basis | The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis:
(in thousands) | Fair value measurement at reporting date using
(Level 1) |  | (Level 2) |  | (Level 3)
September 30, 2023 |  |  |  |  |
Assets: |  |  |  |  |
Cash equivalents – money markets accounts | $ | 68,575 |  |  | $ | — |  |  | $ | — |
Marketable securities – U.S. Treasuries | $ | 11,005 |  |  | $ | — |  |  | $ | — |
December 31, 2022 |  |  |  |  |
Assets: |  |  |  |  |
Cash equivalents – money markets accounts | $ | 7,794 |  |  | $ | — |  |  | $ | — |
Marketable securities – U.S. Treasuries | $ | 27,802 |  |  | $ | — |  |  | $ | — |
Liability: |  |  |  |  |
Derivative liability – redemption feature on convertible promissory note | $ | — |  |  | $ | — |  |  | $ | 5,739 |
Schedule of Marketable Securities | The following is a summary of the Company’s marketable securities as of September 30, 2023:
| Amortized cost |  | Gross unrealized gain |  | Fair value
Available-for-sale marketable securities |  |  |  |  |
U.S. Treasury securities | $ | 10,632 |  |  | $ | 373 |  |  | $ | 11,005 |
Schedule of The Changes in Fair Value of Derivative Liability Associated With The Redemption Feature of Convertible Promissory Note | The table presented below is a summary of the changes in fair value of the Company’s derivative liability associated with the redemption feature of the Company’s convertible promissory note (Level 3 measurement):
(in thousands) | Nine Months Ended September 30,
2023 |  | 2022
Balance at the beginning of the period | $ | 5,739 |  |  | $ | — |
Balance at issuance | — |  |  | 3,820 |
Change in fair value | 84 |  |  | 1,369 |
Derecognition upon conversion of convertible promissory note | (5,823) |  |  | — |
Balance at the end of the period | $ | — |  |  | $ | 5,189 |
Schedule of Anti-Dilutive Securities | The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding, as they would be anti-dilutive:
| September 30,
| 2023 |  | 2022
Convertible preferred stock and exchangeable shares | — |  | 9,936,148
Stock options | 6,515,345 |  | 3,426,929
Conversion of convertible promissory note | — |  | 3,206,707
| 6,515,345 |  | 16,569,784

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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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- Definition Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets. + References No definition available. + Details
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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + 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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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