Fair Value Measurements (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2025

Dec. 31, 2024

Fair Value Measurements [Abstract]

Schedule of Company’s Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2025 and December 31, 2024, and indicates the fair value hierarchy of the valuation inputs the Company’s utilized to determine such fair value:

						March 31,				December 31,
Description		Level				2025				2024
Assets:
Forward purchase agreement asset (Note 10)			3			$	-			$	155
SEPA put rights asset (Note 11)			3				32				188
Liabilities:
Embedded derivative liability (Note 11)			3			$	111			$	80

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at December 31, 2024, and indicates the fair value hierarchy of the valuation inputs the Company’s utilized to determine such fair value:

					December 31,
Description		Level			2024
Assets:
Forward purchase agreement asset (Note 11)		3			$	155
SEPA put rights asset (Note 13)		3				188
Liabilities:
Embedded derivative liability (Note 13)		3			$	80

Schedule of Fair Value of the Company’s Position Under the Forward Purchase Agreement

The fair value of the Company’s position under the Forward Purchase Agreement was calculated as of December 31, 2024 by multiplying the number of shares under the Forward Purchase Agreement by the market price at the settlement date estimated using a Monte-Carlo simulation incorporating the following assumptions:

		December 31,
		2024
Stock price		$	1.79
Risk-free interest rate			4.4	%
Expected term (in years)			0.1
Expected volatility			98	%
Expected dividend yield			0	%

The fair value of the put rights under each advance notice was estimated using the Black Scholes model, incorporating the following assumptions:

		March 31,				December 31,
		2025				2024
Stock price		$	0.41			$	1.79
Risk-free interest rate			4.2	%			4.2	%
Exercise price			0.40				1.72
Expected term (in years)			0.62 - 1.67				1 - 2
Expected volatility			90-100	%			93-99	%
Expected dividend yield			0	%			0	%
Number of shares under each advance notice			54,200				56,500

The fair value of the Company’s position under the Forward Purchase Agreement was calculated by multiplying the number of shares under the Forward Purchase Agreement by the market price at the settlement date estimated using a Monte-Carlo simulation incorporating the following assumptions:

		November 13,				December 31,
		2024				2024
Stock price		$	5.77			$	1.79
Risk-free interest rate			4.6	%			4.4	%
Expected term (in years)			0.3				0.1
Expected volatility			90	%			98	%
Expected dividend yield			0	%			0	%

The fair value of the put rights under each advance notice was estimated using the Black Scholes model, incorporating the following assumptions:

		November 13,				December 31,
		2024				2024
Stock price		$	5.77			$	1.79
Risk-free interest rate			4.3	%			4.2	%
Exercise price			5.54				1.72
Expected term (in years)			1 to 2 years				1 to 2 years
Expected volatility			82-90	%			93-99	%
Expected dividend yield			0	%			0	%
Number of shares			165,000				56,500

Schedule of Changes in the Fair Value of Level 3 Financial Assets and Liabilities

The changes in the fair value of Level 3 financial assets and liabilities for the three months ended March 31, 2025 are as follows:

		Forward Purchase Agreement asset				SEPA Put Rights Asset				Embedded Derivative Liability
Fair value as of January 1, 2025		$	155			$	188			$	80
Settlement			(132	)
Change in fair value			(23	)			(156	)			31

Fair value as of March 31, 2025		$	-			$	32			$	111

The changes in the fair value of Level 3 financial assets and liabilities for the year ended December 31, 2024 are as follows:

		Forward Purchase Agreement asset				SEPA Put Rights Asset				Embedded Derivative Liability
Fair value as of January 1, 2024		$	-			$				$	-
Initial measurement at the issuance date			494				1,551				69
Change in fair value			(339	)			(1,363	)			11

Fair value as of December 31, 2024		$	155			$	188			$	80