v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value
The following table provides the financial instruments measured at fair value (in thousands):
June 30, 2026
Level 1Level 2Level 3Fair Value
Assets:
Cash equivalents:
Money market fund$11,306$— $— $11,306
Total financial assets$11,306 $— $— $11,306 
Liabilities:
Warrant liability$— $— $2,207 $2,207 
December 31, 2025
Level 1Level 2Level 3Fair Value
Assets:
Cash equivalents:
Money market fund
$11,109 $— $— $11,109 
Total financial assets$11,109 $— $— $11,109 
Liabilities:
Warrant liability$— $— $5,121 $5,121 
The following table provides the assets measured at fair value on a nonrecurring basis (in thousands):
June 30, 2026
Level 1Level 2Level 3Fair Value
Assets:
Assets held for sale$— $— $1,229 $1,229 
Schedule of Fair Value Measurement Inputs and Valuation of Private Warrant Liabilities
The key assumptions used for the valuation of the private warrant liability upon remeasurement were as follows:
June 30, 2026December 31, 2025
Volatility118.4 %121.6 %
Risk-free interest rate4.1 %3.7 %
Expected term (in years)4.44.9
Dividend yield— %— %
Schedule of Fair Value, Liabilities Measured on Recurring Basis, Changes in the Liability for the Company’s Warrants
The following table presents the changes in the liability for the Company’s warrants during the six months ended June 30, 2026 (in thousands):
Warrant Liability
Beginning balance
$5,121 
Changes in estimated fair value(2,914)
Ending balance
$2,207