Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values (in thousands):


		As of June 30, 2026
		Level 1				Level 2				Level 3				Total
Assets
Cash equivalents		$	1,281			$	—			$	—			$	1,281
Liabilities
Warrants		$	—			$	—			$	622			$	622


		As of December 31, 2025
		Level 1				Level 2				Level 3				Total
Assets
Cash equivalents		$	4,285			$	—			$	—			$	4,285
Liabilities
Warrants		$	—			$	—			$	3,516			$	3,516
Pre-Paid Advance		$	—			$	—			$	4,142			$	4,142

Schedule of Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

The significant inputs used in the valuation models to measure the fair value of the warrants are as follows:


		Valuation Date
		June 30, 2026		December 31, 2025
Common stock price		$4.14		$28.39
Risk-free rate		4.17%		3.68%
Expected term (in years)		3.98		4.47
Expected volatility		118.4%		103.2%
Dividend yield		0.0%		0.0%

Schedule of the Changes in the Fair Value of liabilities

The following table presents the changes in the fair value of Level 3 liabilities for the six months ended June 30, 2026 (in thousands):


		Warrant Liability
Balance at December 31, 2025		$	3,516
Change in fair value of warrant liability			(2,894	)
Balance at June 30, 2026		$	622

The following table presents the changes in the fair value of Level 3 liabilities for the six months ended June 30, 2026 (in thousands):


		PPAs Liability
Balance at December 31, 2025		$	4,142
Conversion of Pre-Paid Advance into common stock			(3,869	)
Change in fair value of PPAs liability			(273	)
Balance at June 30, 2026		$	—