Quarterly report [Sections 13 or 15(d)]

FAIR VALUE MEASUREMENTS

v3.25.2
FAIR VALUE MEASUREMENTS
6 Months Ended
Jun. 30, 2025
FAIR VALUE MEASUREMENTS  
FAIR VALUE MEASUREMENTS

3.

FAIR VALUE MEASUREMENTS

The following are the major categories of assets and liabilities measured at fair value on a recurring basis as of June 30, 2025, and December 31, 2024:

As of June 30, 2025

    

Level 1

    

Level 2

    

Level 3

    

Total

Assets:

Short-term investments

$

33,051

$

$

$

33,051

Total assets measured at fair value

$

33,051

$

$

$

33,051

Liabilities:

 

  

 

  

 

  

 

  

Share-based compensation liability

$

$

$

62,395

$

62,395

Warrant liability

$

$

$

5,592

$

5,592

Total liabilities measured at fair value

$

$

$

67,987

$

67,987

As of December 31, 2024

    

Level 1

    

Level 2

    

   Level 3    

    

Total

Assets:

Short-term investments

$

33,051

$

$

$

33,051

Total assets measured at fair value

$

33,051

$

$

$

33,051

Liabilities:

 

  

 

  

 

  

 

  

Share-based compensation liability

$

$

$

199,263

$

199,263

Warrant liability

5,592

5,592

Total liabilities measured at fair value

$

$

$

204,855

$

204,855

No transfers between levels have occurred in either reporting period presented. Refer to Note 6 below for disclosures related to the warrant liability and Note 8 for disclosures related to share-based compensation liability.