v3.25.3
Common Stock Warrants (Tables)
9 Months Ended
Sep. 30, 2025
Stock Purchase Warrants [Abstract]  
Schedule of Change in Fair Value of Warrant Liabilities

The following table summarizes the change in fair value of the warrant liabilities (in thousands):

Fair value of warrants at issuance February 9, 2024

 

$

10,327

 

Change in fair value during the period

 

 

(3,635

)

Fair value of warrants at December 31, 2024

 

 

6,692

 

Change in fair value during the period

 

 

(5,500

)

Fair value of warrants at September 30, 2025

 

$

1,192

 

 

Schedule of Valuation of the Warrants

The following table summarizes certain key inputs for the valuation of the Warrants at September 30 2025:

Common stock price

 

$

3.97

 

 

Exercise price per share

 

$

24.30

 

 

Expected volatility

 

 

80.40

 

%

Risk-free interest rate

 

 

3.61

 

%

Contractual term (in years)

 

 

3.86

 

 

Expected dividend yield

 

 

—

 

%