Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2023

Summary of Significant Accounting Policies

Schedule of fair value hierarchy of assets and liabilities measured on recurring basis

	Fair value measurement at reporting date using
(in thousands)	(Level 1)		(Level 2)		(Level 3)
March 31, 2023:
Assets:
Cash equivalents – money markets accounts	$	7,002	$	—	$	—
Marketable securities – U.S. Treasuries	$	76,190	$	—	$	—
December 31, 2022:
Assets:
Cash equivalents – money markets accounts	$	7,794	$	—	$	—
Marketable securities – U.S. Treasuries	$	27,802	$	—	$	—
Liability:
Derivative liability – redemption feature on convertible promissory note	$	—	$	—	$	5,739

Summary of marketable securities

			Gross
	Amortized		unrealized
	cost		gain		Fair value
Available-for-sale marketable securities
U.S. Treasury securities	$	76,054	$	136	$	76,190

Summary of the changes in fair value of derivative liability associated with the redemption feature of convertible promissory note

	Three Months Ended March 31,
(in thousands)	2023		2022
Balance at the beginning of the period	$	5,739	$	—
Balance at issuance		—		3,820
Change in fair value		84		557
Derecognition upon conversion of convertible promissory note		(5,823)		—
Balance at the end of the period	$	—	$	4,377

Schedule of anti-dilutive securities

	March 31,
	2023	2022
Convertible preferred stock and exchangeable shares	—	9,936,148
Stock options	4,184,047	3,553,288
Conversion of convertible promissory note	—	3,258,151
	4,184,047	16,747,587