v3.26.1
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured at Fair Value On Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at June 30, 2026 and December 31, 2025 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

 

(in thousands)  Level   June 30,
2026
   December 31,
2025
 
Assets:               
Investment, related party   1   $8   $9 
Liabilities:               
Warrant liability – 2023 Purchase Warrants   3   $434   $289 
Warrant liability - 2022 Purchase Warrants   3   $41   $28 
Warrant liability – 2022 Inducement Warrants   3   $51   $34 
Total Liabilities       $526   $351 
Schedule of Fair Value of Warrant Estimated by Using Black-Scholes Pricing Model Assumptions

The fair value for the Level 3 warrants at June 30, 2026 and December 31, 2025 was estimated using a BSM model based on the following assumptions at each measurement date:

 

   June 30,
2026
   December 31,
2025
 
Stock price  $0.95   $0.57 
Expiration term (in years)   2.34    2.84 
Volatility   95%   105%
Risk-free Rate   4.1%   3.51%
Dividend yield   0.0%   0.0%
Schedule of Changes in Fair Value of Warrant Liabilities

The following table presents the changes in the Level 3 warrant liabilities measured at fair value (in thousands):

 

       
   Six Months Ended
June 30,
 
   2026   2025 
Fair value at beginning of period  $351   $1,250 
Change in fair value of warrant liabilities   175    (702)
Fair value at end of period  $526   $548