Fair Value (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Assumptions to Estimate Fair Value of Warrants

The Company utilized the following assumptions to estimate the fair value of the February 2017 Warrants:

	June 30,			December 31,
	2022			2021
Underlying price per share	$	0.78		$	0.92
Exercise price per share	$	30.25-$33.00		$	30.25-$33.00
Risk-free interest rate		1.29%-1.32	%		0.22%-0.23	%
Expected holding period		0.09-0.10			0.58-0.60
Expected volatility		45	%		45	%
Expected dividend yield		—			—

The Company utilized the following assumptions to estimate the fair value of the April 2018 Warrants:

	June 30,			December 31,
	2022			2021
Underlying price per share	$	0.78		$	0.92
Exercise price per share	$	17.16		$	17.16
Risk-free interest rate		2.84	%		0.67	%
Expected holding period		1.32			1.81
Expected volatility		65	%		120	%
Expected dividend yield		—			—

The Company utilized the following assumptions to estimate the fair value of the March 2019 Warrants:

	June 30,			December 31,
	2022			2021
Underlying price per share	$	0.78		$	0.92
Exercise price per share	$	8.80		$	8.80
Risk-free interest rate		2.88	%		0.78	%
Expected holding period		1.69			2.19
Expected volatility		70	%		125	%
Expected dividend yield		—			—

Schedule of Range of Probabilities

Range of Probability	Probability
Low		0.5	%
Medium		1.0	%
High		5.0	%

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The table below presents the balances of assets and liabilities measured at fair value on a recurring basis by level within the hierarchy as:

	(in thousands) As of June 30, 2022
	Total		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	7,320	$	7,320	$	—	$	—
Liabilities:
Redeemable warrants	$	1		—		—	$	1

	(in thousands) As of December 31, 2021
	Total		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	16,175	$	16,175	$	—	$	—
Liabilities:
Redeemable warrant	$	35		—		—	$	35

Schedule of Changes in Level 3 Liabilities Measured at Fair Value on a Recurring Basis

The changes in Level 3 Liabilities measured at fair value on a recurring basis are summarized as follows (in thousands):

Redeemable warrants:
Balance at December 31, 2021	$	35
Fair value adjustments		(34	)
Balance at June 30, 2022	$	1

Schedule of Assets and Liabilities Measured at Fair Value on a NonRecurring Basis

The table below presents the balances of assets and liabilities measured at fair value on a nonrecurring basis by level within the hierarchy as:

	(in thousands) As of December 31, 2021
	Total		Level 1		Level 2		Level 3		Total Gains (Losses)
Assets:
Long lived assets held and used(a)	$	3,900	$	—	$	—	$	3,900	$	(1,800	)

(a) In accordance with Subtopic 360-10, long-lived assets held and used with a carrying amount of $5,700,000 were written down to their fair value of $3,900,000, resulting in an impairment charge of $1,800,000, which was included in earnings for the period ending December 31, 2021.