v3.26.1
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy Valuation Inputs

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

 

 

(in thousands)   Level     December 31, 2025     December 31, 2024  
                   
Assets:                        
Investment, related party     1     $ 9     $ 7  
Liabilities:                        
Warrant liability – 2023 Purchase Warrants     3     $ 289     $ 1,030  
Warrant liability – 2022 Purchase Warrants     3     $ 28     $ 98  
Warrant liability – 2022 Inducement Warrants     3     $ 34     $ 122  
                         
Total Liabilities           $ 351     $ 1,250  
Schedule of Fair Value Warrant by Using Black-Scholes Pricing Model Assumptions

The fair value for the Level 3 warrants at December 31, 2025 and December 31, 2024 was estimated using a BSM model based on the following assumptions:

 

 

   December 31,
2025
   December 31,
2024
 
Stock price  $0.57   $1.09 
Expiration term (in years)   2.84    3.84 
Volatility   105%   105%
Risk-free Rate   3.51%   4.27%
Dividend yield   0.0%   0.0%
Schedule of Changes in Fair Value Warrant Liabilities

The following table presents the changes in the warrant liabilities measured at fair value (in thousands):

 

 

   December 31,
2025
   December 31,
2024
 
Fair value at beginning of year  $1,250   $4,210 
Issuance of new warrants   -    4,092 
Exercise of warrants   -    (5,372)
Change in fair value of warrant liability   (899)   (1,680)
Fair value at end of year  $351    1,250