Annual report pursuant to Section 13 and 15(d)

Fair Value Measurement (Tables)

v3.20.4
Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchies for Financial Assets and Liabilities 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, 2020
Liabilities
Warrant liabilities $ 6,037  $ —  $ —  $ 6,037 
December 31, 2019
Liabilities
Warrant liabilities $ 4,307  $ —  $ —  $ 4,307 
Contingent success fee liability $ $ —  $ —  $
Summary of Changes in Fair Value of Level 3 Financial Liabilities on Recurring Basis
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, 2020, which were measured at fair value on a recurring basis:
Warrant
Liability
Contingent
Success Fee
Liability
Balance at December 31, 2019 $ 4,307  $
Initial fair value of warrants in connection with June 2020 financing 2,650  0
Loss on revaluation of warrants issued in June 2020, December 2019, May 2019 financing, and December 2015 equity financings 3,056  0
Reclassification of warrant liability to equity upon exercise of warrants (3,976) — 
Gain on revaluation of contingent liability —  (6)
Balance at December 31, 2020 $ 6,037  $ —