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FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis
The following table presents information about our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and indicates the level in the fair value hierarchy in which we classify the fair value measurement. As of December 31, 2021, we had no financial assets and liabilities measured at fair value.
December 31, 2020
(in thousands)Level 1Level 2Level 3Total
Liabilities
Warrant liability$— $— $5,845 $5,845 
$— $— $5,845 $5,845 
Summary of Fair Value Changes of Level 3 Liabilities
The following table presents a summary of the changes in fair value of our Level 3 liabilities for the years ended December 31, 2021, 2020, and 2019:
(in thousands)Warrants
Balance at December 31, 2019
$6,594 
Decrease in fair value included in other expense(749)
Balance at December 31, 2020
$5,845 
Increase in fair value included in other expense as of the November 3, 2021 valuation date10,624 
Settlement of liability upon IPO and reclassification to additional paid-in capital(16,469)
Balance at December 31, 2021
$—