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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
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Jun. 30, 2022
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract] |
Liabilities Measured at Fair Value | The following tables summarize the liabilities that are measured at fair value as of June 30, 2022 (in thousands). There were no liabilities measured at fair value as of December 31, 2021:
|  | As of June 30, 2022 |
Description |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Liabilities: |  |  |  |  |  |  |  |  |
Warrant liabilities - Pre-Funded Warrants |  | $ | - |  |  | $ | 702 |  |  | $ | - |
Warrant liabilities - Common Warrants |  |  | - |  |  |  | - |  |  |  | 1,822 |
Total |  | $ | - |  |  | $ | 702 |  |  | $ | 1,822 |
Changes in Warrant Liabilities | The Company remeasured the fair value of the warrant liabilities as of June 30, 2022, and the following table presents the changes in the warrant liabilities from the issuance date (in thousands):
|  | Pre-Funded Warrants (Level 2) |  |  | Common Warrants (Level 3) |  |  | Total Warrant Liabilities |
Fair value at January 1, 2022 |  | $ | - |  |  | $ | - |  |  | $ | - |
Fair value at March 9, 2022 (issuance date) |  |  | 2,646 |  |  |  | 9,943 |  |  |  | 12,589 |
Change in fair value of warrant liabilities |  |  | (1,944 | ) |  |  | (8,121 | ) |  |  | (10,065 | )
Fair value at June 30, 2022 |  | $ | 702 |  |  | $ | 1,822 |  |  | $ | 2,524 |

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + 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 (b) -URI https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI https://asc.fasb.org/extlink&oid=126976982&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of derivative liabilities at fair value. + References No definition available. + Details
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