Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2023

These two types of inputs have created the following

fair-value hierarchy:


Level 1:			Quoted prices for identical instruments in active markets;
Level 2:			Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets; and
Level 3:			Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

The following table presents the fair value per warrant and the valuation assumptions under the Black-Scholes OPM as of March 31, 2023 and December 31, 2022:


	March 31, 2023			December 31, 2022
Fair value per share	$	0.53		$	0.17
Warrants outstanding	7,732,168			7,732,168
Exercise price	$	11.50		$	11.50
Common stock price	$	3.03		$	1.98
Expected option term (years)	3.42 years			3.67 years
Expected volatility	66.90		%	60.70		%
Risk-free rate of return	3.70		%	4.10		%
Expected annual dividend yield	—		%	—		%

Schedule of Supplemental Cash Flow Information

The table below presents supplemental cash flow information during the following periods:


	Three Months Ended
	March 31, 2023		March 31, 2022
Supplemental cash flow information:
Cash paid (received) during the period for:
Interest	$	2,069	$	1,409



Non-Cash Investing and Financing Activities:




Capital expenditures not yet paid	$	928	$	1,213

Schedule of Property, Plant and Equipment, net

Expected useful lives for property, plant and equipment are reviewed at least annually. Estimated useful lives are as follows:


			Estimated useful life in years
Computer equipment			3
Furniture and fixtures			7
Laboratory equipment			3-10

Leasehold improvements			shorter of 5 or lease term
Assets subject to finance lease			lease term