Quarterly report pursuant to Section 13 or 15(d)

Company Description and Summary of Significant Accounting Policies (Tables)

v3.23.3
Company Description and Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2023
Company Description and Summary of Significant Accounting Policies [Abstract]  
Fair Value of Financial Instruments Measured on a Recurring Basis
The fair value of financial instruments measured on a recurring basis is as follows (in thousands):
 
   
As of September 30, 2023
  
Description
  
Total
    
Level 1
    
Level 2
    
Level 3
  
Assets:
                        
Short-term investments
 		 
$
11
    
$
11
    
$
—
    
$
—
  
Total assets at fair value
  
$
11
    
$
11
    
$
—
    
$
—
  
Liabilities:                                
Derivative liability   $
 93     $
 —     $
 —     $
93  
Total liabilities at fair value   $
 93     $
 —     $
 —     $
 93  

   
As of December 31, 2022
  
Description
  
Total
    
Level 1
    
Level 2
    
Level 3
  
Assets:
                        
Short-term investments
 
$
49
    
$
49
    
$
—
    
$
—
  
Total assets at fair value
  
$
49
    
$
49
    
$
—
    
$
—
  
Fair Value, Investments and Derivative Liabilities Measured on a Recurring Basis
The following table provides a roll-forward of short-term investments and derivative liabilities measured at fair value on a recurring basis using observable Level 1 and Level 3 inputs, as applicable, for the nine months ended September 30, 2023 and 2022 (in thousands):
   
2023
   
2022
 
Short-term investments
            
Balance as of beginning of period
  
$
49
    
$
219
  
Unrealized loss
   
(38
)
    
(118
)
Balance as of end of period
  
$
11
    
$
101
  

   
2023
    
2022
  
Derivative liability
            
Balance as of beginning of period
  
$
—
    
$
—
  
Purchase agreement execution
    
154
      
—
  
Unrealized gain
     (61 )    
—
  
Balance as of end of period
   $ 93    
$
—