v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following tables present the Company's financial assets and liabilities measured at fair value on a recurring basis and their assigned levels within the fair value hierarchy (in thousands):
March 31, 2026
Level 1Level 2Level 3Total
Money market funds(1)
$6,296 $— $— $6,296 
Total assets$6,296 $— $— $6,296 
Warrant liabilities$— $3,596 $3 $3,599 
Total liabilities$— $3,596 $3 $3,599 
December 31, 2025
Level 1 Level 2Level 3Total
Money market funds(1)
$6,245 $— $— $6,245 
Total assets
$6,245 $— $— $6,245 
Warrant liabilities$— $2,614 $1 $2,615 
Total liabilities
$— $2,614 $1 $2,615 
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(1) Included in cash, cash equivalents, and restricted cash on the condensed consolidated balance sheets. This balance includes cash requirements settled on a nightly basis.
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation The following table presents a summary of changes in Level 3 in the fair value of the Company’s common stock warrant liability (in thousands):
March 31,
2026		December 31,
2025
Balance, beginning of the period$1 $1 
Change in fair value2 — 
Balance, end of the period$3 $1 
Schedule of Fair Value Measurement Inputs and Valuation Techniques
The fair value of the assumed Angion Warrant liabilities was estimated using the following assumptions:
March 31,
2026		December 31,
2025
Weighted average strike price$76.00$76.00
Contractual term (years)
2.42.7
Volatility (annual)
76.8 %67.6 %
Risk-free rate
4.0 %3.8 %
Dividend yield (per share)
— %— %