Annual report pursuant to Section 13 and 15(d)

Fair Value Measurement (Tables)

v3.23.1
Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The Company’s fair value hierarchies for its financial assets and liabilities which require fair value measurement on a recurring basis are as follows:
Total Level 1 Level 2 Level 3
December 31, 2022
Liabilities
Warrant liabilities $ 233  $ —  $ —  $ 233 
December 31, 2021
Liabilities
Warrant liabilities $ 1,550  $ —  $ —  $ 1,550 
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table sets forth a summary of the changes in the fair value of Company’s Level 3 financial liabilities during the year ended December 31, 2022, which were measured at fair value on a recurring basis:
Warrant
Liability
Balance as of December 31, 2020 $ 6,037 
Initial fair value of warrants issued in connection with 2021 financing 1,936 
Gain on revaluation of warrants issued in 2021, June 2020, December 2019, and May 2019 equity financings (3,962)
Reclassification of warrant liability to equity upon exercise of warrants (2,461)
Balance as of December 31, 2021 $ 1,550 
Gain on revaluation of warrants issued in 2021, June 2020, December 2019, and May 2019 equity financings (1,317)
Balance as of December 31, 2022 $ 233