v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Liabilities Measured on Recurring Basis
The following table presents, as of March 31, 2026 and December 31, 2025, information about the Company’s warrant liabilities 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:
March 31, 2026December 31, 2025
LevelAmount
Level
Amount
Warrant Liabilities:
Pre-funded Warrants
2$131,882 2$60,029 
2025 ADS Warrants
33143,697
Total Warrant Liabilities
$131,882 $203,726 
Schedule of Fair Value of Warrant Liabilities
The following table reflects the fair value of the Company’s warrant liabilities for the three months ended March 31, 2026:
Pre-Funded Warrants
ADS Warrants
Fair value as of December 31, 2025$60,029 $143,697 
Change in fair value of warrant liabilities(64,612)(66,304)
Exercise of 2025 Financing pre-funded warrant liabilities(33,719)(32,542)
Issuance of February 2026 Offering of pre-funded warrants10,000
Conversion of 2025 Financing ADS warrants to pre-funded warrants160,184(44,851)
Fair value as of March 31, 2026
$131,882 $