Quarterly report [Sections 13 or 15(d)]

Summary of Significant Accounting Policies (Tables)

v3.25.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2025
Summary of Significant Accounting Policies [Abstract]  
Schedule of Fair Value Hierarchy of Financial Liabilities Measured at Fair Value

The following table summarizes the fair value hierarchy of financial liabilities measured at fair value as of March 31, 2025 (in thousands):

 

    Quoted
Prices in
Active
Markets for
Identical
Assets
    Significant
Other
Observable
Inputs
    Significant
Unobservable
Inputs
       
    (Level 1)     (Level 2)     (Level 3)     Total  
Warrant liability   $
        -
    $
           -
    $ 10,588     $ 10,588  
Total liabilities at fair value   $
-
    $
-
    $ 10,588     $ 10,588  

 

The following table summarizes the fair value hierarchy of financial liabilities measured at fair value as of December 31, 2024 (in thousands):

 

    Quoted
Prices in
Active
Markets for
Identical
Assets
    Significant
Other
Observable
Inputs
    Significant
Unobservable
Inputs
       
    (Level 1)     (Level 2)     (Level 3)     Total  
Warrant liability   $
         -
    $
            -
    $ 18,936     $ 18,936  
Total liabilities at fair value   $
-
    $
-
    $ 18,936     $ 18,936  
Schedule of Changes in Fair Value of the Warrant Liability Classified in Level 3

The following table summarizes the changes in fair value of the warrant liability classified in Level 3. Gains and losses reported in this table include changes in fair value that are attributable to unobservable inputs (in thousands):

 

    Three Months Ended
March 31,
2024
 
Fair value at December 31, 2023     13,133  
Change in fair value of warrants     11,808  
Fair value at March 31, 2024   $ 24,941  

 

    Three Months Ended
March 31,
2025
 
Fair value at December 31, 2024     18,936  
Change in fair value of warrants     (8,348 )
Fair value at March 31, 2025   $ 10,588