Fair Value (Tables)

6 Months Ended

Jun. 30, 2024

Disclosure of detailed information about financial instruments [abstract]

Schedule of Fair Value Hierarchy for Financial Assets Measured at Fair Value on a Recurring Basis

The following table presents the Company’s fair value hierarchy for its financial assets and financial liabilities that were measured at fair value on a recurring basis as of June 30, 2024 (in thousands):


	Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents:
Money market funds	$	56,011	$	—	$	—
Total financial assets	$	56,011	$	—	$	—

Financial liabilities:
Warrant obligation:
Perceptive Credit Holdings warrants	$	—	$	572	$	—
Total financial liabilities	$	—	$	572	$	—

The following table presents the Company’s fair value hierarchy for its financial assets that were measured at fair value on a recurring basis as of December 31, 2023 (in thousands):


	Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents
Money market funds	$	60,683	$	—	$	—
Total financial assets	$	60,683	$	—	$	—

Schedule of Fair Value Hierarchy for Financial Liabilities Measured at Fair Value on a Recurring Basis


	Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents:
Money market funds	$	56,011	$	—	$	—
Total financial assets	$	56,011	$	—	$	—

Financial liabilities:
Warrant obligation:
Perceptive Credit Holdings warrants	$	—	$	572	$	—
Total financial liabilities	$	—	$	572	$	—

The following table presents the Company’s fair value hierarchy for its financial assets that were measured at fair value on a recurring basis as of December 31, 2023 (in thousands):


	Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents
Money market funds	$	60,683	$	—	$	—
Total financial assets	$	60,683	$	—	$	—