Fair Value Measurements (Tables)
|
12 Months Ended |
Dec. 31, 2022 |
|---|
| Warrants to Purchase Common Stock [Member] |
|
| Schedule of revaluation of warrant liability |
|
|
|
|
|
|
|
Warrants |
|
($ in thousands) |
|
liabilities |
|
Balance at December 31, 2020 |
|
$ |
— |
|
Journey contingent payment liability |
|
|
3,819 |
|
Journey placement agent warrant |
|
|
362 |
|
Change in fair value of contingent payment liability |
|
|
447 |
|
Satisfaction of partner company contingent payment |
|
|
(4,628) |
|
Balance at December 31, 2021 |
|
$ |
— |
|
Checkpoint Series A & B common stock warrants |
|
|
7,640 |
|
Checkpoint placement agent warrants |
|
|
278 |
|
Avenue common stock warrants |
|
|
8,278 |
|
Urica placement agent warrants |
|
|
90 |
|
Change in fair value of common stock warrants - Avenue |
|
|
(5,669) |
|
Change in fair value of common stock warrants - Checkpoint |
|
|
3,252 |
|
Balance at December 31, 2022 |
|
$ |
13,869 |
|
|
| Warrants to Purchase Common Stock [Member] | Checkpoint Common Stock Warrants |
|
| Schedule of revaluation of warrant liability |
|
|
|
|
|
|
Checkpoint |
|
|
Warrant |
($ in thousands) |
|
Liability |
Common stock warrant liabilities at December 31, 2021 |
|
$ |
- |
Issuance of Checkpoint common warrants |
|
|
7,640 |
Issuance of placement agent warrants |
|
|
278 |
Change in fair value of common stock warrant liabilities |
|
|
3,252 |
Common Stock Warrant liabilities at December 31, 2022 |
|
$ |
11,170 |
|
| Warrants to Purchase Common Stock [Member] | Avenue Therapeutics, Inc [Member] |
|
| Schedule of revaluation of warrant liability |
|
|
|
|
|
|
Avenue |
|
|
Warrant |
($ in thousands) |
|
Liability |
Common stock warrant liabilities at December 31, 2021 |
|
$ |
- |
Issuance of Avenue common warrants |
|
|
8,278 |
Change in fair value of common stock warrant liabilities |
|
|
(5,669) |
Common Stock Warrant liabilities at December 31, 2022 |
|
$ |
2,609 |
|
| Summary of the Weighted average Significant Unobservable Inputs |
|
|
|
|
|
|
December 31 |
|
|
|
2022 |
|
Risk-free interest rate |
|
4.02% - 4.14 |
% |
Expected dividend yield |
|
— |
|
Expected term in years |
|
4.8 - 5.0 |
|
Expected volatility |
|
92.8% - 90.3 |
% |
|
| Warrants to Purchase Common Stock [Member] | Journey |
|
| Summary of the Weighted average Significant Unobservable Inputs |
|
|
|
|
|
|
December 31 |
|
|
|
2022 |
|
Risk-free interest rate |
|
0.98 |
% |
Expected dividend yield |
|
— |
|
Expected term in years |
|
1.00 |
|
Expected volatility |
|
0.50 |
% |
|
| Warrants to Purchase Common Stock [Member] | Urica |
|
| Summary of the Weighted average Significant Unobservable Inputs |
|
|
|
|
|
|
December 31 |
|
|
|
2022 |
|
Risk-free interest rate |
|
3.94 |
% |
Expected dividend yield |
|
— |
|
Expected term in years |
|
1.5 |
|
Expected volatility |
|
70.7 |
% |
|
| Series A Warrants | Checkpoint Common Stock Warrants |
|
| Summary of the Weighted average Significant Unobservable Inputs |
|
|
|
|
|
|
|
|
|
|
|
December 16, |
|
|
December 31, |
|
Checkpoint Series A Warrants |
|
2022 |
|
|
2022 |
|
Exercise price |
|
$ |
4.08 |
|
|
$ |
4.08 |
|
Volatility |
|
|
89.5 |
% |
|
|
89.4 |
% |
Expected life |
|
|
5.0 |
|
|
|
5.0 |
|
Risk-free rate |
|
|
3.6 |
% |
|
|
4.0 |
% |
Dividend yield |
|
|
— |
|
|
|
— |
|
|
| Series B Warrants | Checkpoint Common Stock Warrants |
|
| Summary of the Weighted average Significant Unobservable Inputs |
|
|
|
|
|
|
|
|
|
|
|
December 16, |
|
|
December 31, |
|
Checkpoint Series B Warrants |
|
2022 |
|
|
2022 |
|
Exercise price |
|
$ |
4.08 |
|
|
$ |
4.08 |
|
Volatility |
|
|
79.1 |
% |
|
|
82.4 |
% |
Expected life |
|
|
1.5 |
|
|
|
1.5 |
|
Risk-free rate |
|
|
4.2 |
% |
|
|
4.7 |
% |
Dividend yield |
|
|
— |
|
|
|
— |
|
|
| Placement Agent Warrants [Member] | Checkpoint Common Stock Warrants |
|
| Summary of the Weighted average Significant Unobservable Inputs |
|
|
|
|
|
|
|
|
|
|
|
December 16, |
|
|
December 31, |
|
Checkpoint Placement Agent Warrants |
|
2022 |
|
|
2022 |
|
Exercise price |
|
$ |
5.51 |
|
|
$ |
5.41 |
|
Volatility |
|
|
59.5 |
% |
|
|
89.4 |
% |
Expected life |
|
|
5.0 |
|
|
|
5.0 |
|
Risk-free rate |
|
|
3.6 |
% |
|
|
4.0 |
% |
Dividend yield |
|
|
— |
|
|
|
— |
|
|