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Investments and Fair Value Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Investments And Fair Value Instruments [Abstract]

Summary of Amortized Cost and Fair Value of Investment Securities Portfolio

The following tables summarize the amortized cost and fair value of the investment securities portfolio at June 30, 2022 and December 31, 2021.

(Dollars in thousands)		Amortized Cost				Unrealized Gains				Unrealized Losses				Estimated Fair Value
June 30, 2022
Cash equivalents:
Money market funds		$	19,283			$	—			$	—			$	19,283
Total Assets at Fair Value		$	19,283			$	—			$	—			$	19,283

(Dollars in thousands)		Amortized Cost				Unrealized Gains				Unrealized Losses				Estimated Fair Value
December 31, 2021
Cash equivalents:
Money market funds		$	26,842			$	—			$	—			$	26,842
Total Assets at Fair Value		$	26,842			$	—			$	—			$	26,842

Summary of Fair Value of Investment Securities

The fair value of the investment securities at June 30, 2022 were as follows:

		Fair Value Measurements at June 30, 2022
(Dollars in thousands)		Level 1				Level 2				Level 3				Total
Assets at Fair Value
Cash equivalents:
Money market funds		$	19,283			$	—			$	—			$	19,283
Total Assets at Fair Value		$	19,283			$	—			$	—			$	19,283

The fair value of the investment securities at December 31, 2021 were as follows:

		Fair Value Measurements at December 31, 2021
(Dollars in thousands)		Level 1				Level 2				Level 3				Total
Assets at Fair Value
Cash equivalents:
Money market funds		$	26,842			$	—			$	—			$	26,842
Total Assets at Fair Value		$	26,842			$	—			$	—			$	26,842

Summary of Changes in Fair Value and Other Adjustments of Liabilities

The following table sets forth the establishment of the Company’s Level 3 liabilities, as well as a summary of the changes in the fair value and other adjustments (in thousands):

(Dollars in thousands)		Common Stock Warrant Liability - March 2018 Purchase Agreement				Common Stock Warrant Liability - June 2019 Offering				Common Stock Warrant Liability - September 2019 Offering				Common Stock Warrant Liability - January 2021 Offering				Contingent Liabilities				Total
Balance as of December 31, 2021		$	7			$	170			$	223			$	2,993			$	2,070			$	5,463
Reclassification upon adoption     of ASU 2020-06			(7	)			(170	)			(223	)			(2,993	)			—				(3,392	)
Change in fair value of contingent    consideration			—				—				—				—				(70	)			(70	)
Balance as of June 30, 2022		$	—			$	—			$	—			$	—			$	2,000			$	2,000

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Investments and fair value instruments.

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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

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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.

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