v3.25.1
Warrants (Tables)
3 Months Ended
Mar. 31, 2025
Warrants and Rights Note Disclosure [Abstract]  
Schedule of Estimated Fair Value of Warrants The following assumptions were used to estimate the fair value of the warrants at issuance:

Estimated dividend yield

 

 

0.00

%

Weighted-average expected stock price volatility

 

 

89.03

%

Weighted-average risk-free interest rate

 

 

4.17

%

Expected term (in years)

 

 

5.00

 

Weighted-average fair value per option

 

$

12.96

 

The Company estimated the fair value of the warrant liability using the following assumptions as of March 31, 2025:

Estimated dividend yield

 

 

0.00

%

Weighted-average expected stock price volatility

 

 

80.75

%

Weighted-average risk-free interest rate

 

 

3.92

%

Expected term (in years)

 

 

3.92

 

Weighted-average fair value per option

 

$

1.44

 

 

Summary of Warrant Liability

The following table summarizes the Company’s warrant liability (in thousands):

Balance at December 31, 2024

 

$

2,796

 

Issuance of warrants

 

 

 

Change in fair value of warrant liability

 

 

804

 

Balance at March 31, 2025

 

$

3,600