Quarterly report pursuant to Section 13 or 15(d)

Company Description and Summary of Significant Accounting Policies (Tables)

v3.24.2.u1
Company Description and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2024
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 June 30, 2024
  
Description
  
Total
    
Level 1
    
Level 2
    
Level 3
  
Assets:
                        
Short-term investments
  
$
5
    
$
5
    
$
—
    
$
—
  
Total assets at fair value
  
$
5
    
$
5
    
$
—
    
$
—
  
Liabilities:
                                
Derivative liability
  
$
74
    
$
—
    
$
—
    
$
74
  
Total liabilities at fair value
  
$
74
    
$
—
    
$
—
    
$
74
  
 
 
  
As of December 31, 2023
  
Description
  
Total
    
Level 1
    
Level 2
    
Level 3
  
Assets:
                        
Short-term investments
  
$
15
    
$
15
    
$
—
    
$
—
  
Total assets at fair value
  
$
15
    
$
15
    
$
—
    
$
—
  
Liabilities:
                                
Derivative liability
  
$
74
    
$
—
    
$
—
    
$
74
  
Total liabilities at fair value
  
$
74
    
$
—
    
$
—
    
$
74
  
Fair Value, Investments Measured on a Recurring Basis
The following table provides a roll-forward of short-term investments measured at fair value on a recurring basis using observable level 1 inputs for the six months ended June 30, 2024 and 2023 (in thousands):
   
Six Months Ended
June 30,
  
 
  
2024
    
2023
  
Short-term investments
            
Balance as of beginning of period
  
$
15
    
$
49
  
Unrealized loss
    
(10
)
    
(27
)
Balance as of end of period
  
$
5
    
$
22
  
Derivative Liabilities Measured at Fair Value on a Recurring Basis
The following table provides a roll-forward of the derivative liabilities measured at fair value on a recurring basis using unobservable level 3 inputs for the six months ended June 30, 2024 and 2023 (in thousands):

   
Six Months Ended
June 30,
  
   
2024
    
2023
  
Derivative liabilities
            
    Balance as of beginning of period
  
$
74
    
$
—
  
Change in fair value of derivative liabilities
    
—
      
—
  
Balance as of end of period
  
$
74
    
$
—