Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v3.23.3
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2023
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities that are Measured at Fair Value on a Recurring Basis
The following table presents, for each of the fair value hierarchy levels required under ASC 820, the Company’s assets and liabilities that are measured at fair value on a recurring basis (in thousands): 
  September 30, 2023
  Fair Value Measurements Using
  Quoted prices in Significant other Significant
  active markets for observable unobservable
  identical assets inputs inputs
  (Level 1) (Level 2) (Level 3)
Assets               
Investments in money market funds* $ 9,324  $ —  $ — 
Liabilities
Derivative liability $ —  $ —  $ 4,950 
  December 31, 2022
  Fair Value Measurements Using
  Quoted prices in Significant other Significant
  active markets for observable unobservable
  identical assets inputs inputs
  (Level 1) (Level 2) (Level 3)
Assets               
Investments in money market funds* $ 12,133  $ —  $ — 
Liabilities
Derivative liability $ —  $ —  $ 4,830 

*Investments in money market funds are reflected in cash and cash equivalents on the accompanying unaudited condensed consolidated balance sheets.
Schedule of Changes in the Fair Value
The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuation for the derivative liability for the nine months ended September 30, 2023:
  Derivative liability
Balance at December 31, 2022 $ 4,830 
Change in fair value of derivative liability 120 
Balance at September 30, 2023 $ 4,950