v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Measurements  
Schedule of assets and liabilities measured at fair value

The financial assets and liabilities measured and recognized at fair value were as follows as of June 30, 2026 and December 31, 2025 (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2026

​

​

Total

​

​

Level 1

​

​

Level 2

​

​

Level 3

Investments in money market fund – financial assets, included in cash and cash equivalents

$

20,297

​

$

20,297

​

$

—

​

$

—

Convertible Loan– financial liabilities

​

163,904

​

​

—

​

​

—

​

​

163,904

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2025

​

​

Total

​

​

Level 1

​

​

Level 2

​

​

Level 3

Investments in money market fund – financial assets, included in cash and cash equivalents

$

4,218

​

$

4,218

​

$

—

​

$

—

Convertible Loan– financial liabilities

​

153,860

​

​

—

​

​

—

​

​

153,860

Schedule of estimated the fair value of its Convertible Loan using inputs

The Company estimated the fair value of its Convertible Loan using the following inputs during the year ended December 31, 2025:

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​

​

​

​

​

​

​

December 31, 2025

Discount rate

​

18.43%-24.37%

Probabilities of settlement scenarios

​

0%-100%

Volatility

​

76.40%-101.30%

Expected term (in years)

​

0.20-1.00

Risk-free rate

​

3.63%-4.19%

Schedule of changes in the fair value of its Convertible Loan

The following table presents a summary of the changes in the fair value of its Convertible Loan for the six months ended June 30, 2026 and 2025 (in thousands):

​

​

​

​

​

​

​

​

Six Months Ended June 30,

​

​

2026

​

​

2025

Convertible Loan at the beginning of the period

$

153,860

​

$

32,897

Change in fair value

​

10,044

​

 

548

Convertible Loan at the end of the period

$

163,904

​

$

33,445

​