Fair Value Measurements and Available for Sale Investments (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 the hierarchy for assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at End of Period Using: | | Total
Fair Value | | Quoted Market
Prices for
Identical Assets
(Level 1) | | Significant
Other Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | As of June 30, 2026 | | | | | | | | | Money market funds | $ | 37,767 | | | $ | 37,767 | | | $ | — | | | $ | — | | | | | | | | | | | Commercial paper | 15,878 | | | — | | | 15,878 | | | — | | | | | | | | | | | Warrant liability | 18,291 | | | — | | | — | | | 18,291 | | | Embedded derivative liability | 42,938 | | | — | | | — | | | 42,938 | | | As of December 31, 2025 | | | | | | | | | Money market funds | $ | 22,228 | | | $ | 22,228 | | | $ | — | | | $ | — | | | U.S. Treasury and agency securities | 8,090 | | | 8,090 | | | — | | | — | | | Commercial paper | 73,592 | | | — | | | 73,592 | | | — | | | Corporate debt securities | 27,377 | | | — | | | 27,377 | | | — | |
|
| Fair Value, Liabilities Measured on Recurring Basis |
The following table presents the hierarchy for assets and liabilities measured at fair value on a recurring basis as of June 30, 2026 and December 31, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | Fair Value Measurements at End of Period Using: | | Total
Fair Value | | Quoted Market
Prices for
Identical Assets
(Level 1) | | Significant
Other Observable
Inputs
(Level 2) | | Significant
Unobservable
Inputs
(Level 3) | | As of June 30, 2026 | | | | | | | | | Money market funds | $ | 37,767 | | | $ | 37,767 | | | $ | — | | | $ | — | | | | | | | | | | | Commercial paper | 15,878 | | | — | | | 15,878 | | | — | | | | | | | | | | | Warrant liability | 18,291 | | | — | | | — | | | 18,291 | | | Embedded derivative liability | 42,938 | | | — | | | — | | | 42,938 | | | As of December 31, 2025 | | | | | | | | | Money market funds | $ | 22,228 | | | $ | 22,228 | | | $ | — | | | $ | — | | | U.S. Treasury and agency securities | 8,090 | | | 8,090 | | | — | | | — | | | Commercial paper | 73,592 | | | — | | | 73,592 | | | — | | | Corporate debt securities | 27,377 | | | — | | | 27,377 | | | — | |
|
| Schedule of Available for Sale Investments by Security Type |
The aggregate market value, cost basis, and gross unrealized gains and losses of available-for-sale investments by security type, classified in marketable securities as of June 30, 2026 and December 31, 2025 are as follows (in thousands except securities amounts): | | | | | | | | | | | | | | | | | | | | | | | | | Amortized
Cost | | Gross
Unrealized
Gains | | Gross
Unrealized
Losses | | Total
Fair Value | | As of June 30, 2026 | | | | | | | | | | | | | | | | | | | | | | | | | Commercial paper | $ | 15,878 | | | $ | — | | | $ | — | | | $ | 15,878 | | | Total marketable securities | $ | 15,878 | | | $ | — | | | $ | — | | | $ | 15,878 | | | Number of securities with unrealized losses | | | | | — | | | | | | | | | | | | | As of December 31, 2025 | | | | | | | | | U.S. Treasury and agency securities | $ | 8,088 | | | $ | 2 | | | $ | — | | | $ | 8,090 | | | Corporate debt securities | 27,359 | | | 18 | | | — | | | 27,377 | | | Commercial paper | 73,544 | | | 49 | | | (1) | | | 73,592 | | | Total marketable securities | $ | 108,991 | | | $ | 69 | | | $ | (1) | | | $ | 109,059 | | | Number of securities with unrealized losses | | | | | 1 | | | |
|
| Schedule of Contractual Maturities of Available-for-sale Debt Securities |
Contractual maturities of available-for-sale debt securities, as of June 30, 2026, were as follows (in thousands): | | | | | | | Estimated
Fair Value | | Less than one year | $ | 15,878 | | | Greater than one year | — | | | Total | $ | 15,878 | |
|