Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value, Assets Measured on Recurring Basis

The following tables present information about the Company’s financial instruments measured at fair value on a recurring basis and indicate the level of the fair value hierarchy used to determine such fair values:


	Fair Value Measurements
	as of December 31, 2025
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	43,053		—		—		43,053
	$	43,053	$	—	$	—	$	43,053


	Fair Value Measurements
	as of December 31, 2024
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents	41,355		—		—		41,355
	$	41,355	$	—	$	—	$	41,355

As of December 31, 2025, the assumptions are as follows:


	January 13, 2025	December 31, 2025
Exercise price	$5.7960	$5.7960
Market price	$3.37	$6.90
Volatility	146.1% to 158.7%	143.4% to 144.8%
Risk-free rate	4.6%	3.6%
Dividend yield	—%	—%
Term (in years)	4.0 to 4.4 years	3.1 to 3.2 years