FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE AND CONCENTRATIONS OF CREDIT RISK (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements and Financial Statement Presentation

The Company’s financial instruments measured at fair value and their respective levels in the fair value hierarchy as of September 30, 2024, and December 31, 2023, were as follows:

	September 30, 2024								December 31, 2023
	Fair Value of Assets								Fair Value of Assets
In Thousands	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Money market funds (1)	$	1,051	$	—	$	—	$	1,051	$	7,015	$	—	$	—	$	7,015
Total	$	1,051	$	—	$	—	$	1,051	$	7,015	$	—	$	—	$	7,015

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(1) Included in cash and cash equivalents on the accompanying condensed consolidated balance sheets.

	September 30, 2024								December 31, 2023
	Fair Value of Liabilities								Fair Value of Liabilities
In Thousands	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Common Warrants	$	—	$	—	$	2,661	$	2,661	$	—	$	—	$	1,418	$	1,418
Total	$	—	$	—	$	2,661	$	2,661	$	—	$	—	$	1,418	$	1,418

Schedule of Common Warrants Activity

The following table summarizes the Common Warrants activity for the nine months ended September 30, 2024:

In Thousands	Level 3 Fair Value of Liabilities
Balance as of December 31, 2023	$	1,418
Issued	10,151
Change in fair value	(8,908)
Balance as of September 30, 2024	$	2,661

The following table summarizes the Common Warrants activity for the nine months ended September 30, 2023:

In Thousands	Level 3 Fair Value of Liabilities
Balance as of December 31, 2022	$	291
Change in fair value	1,221
Balance as of September 30, 2023	$	1,512

Schedule of Fair Value of the Common Warrants

The estimated fair values of the Common Warrants, and the assumptions used for the Black-Scholes option pricing model were as follows:

	As of September 30, 2024	As of December 31, 2023
Estimated fair value of common warrants per share	$0.49 - $1.99	$	8.95
Assumptions:
Risk-free interest rate	3.5% - 3.6%	3.9		%
Expected volatility	105.1% - 110.4%	100.7		%
Expected term to liquidation (in years)	2.9 - 4.7	3.6