Pieris Pharmaceuticals, Inc. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Note 3 - Fair Value Measurements (Tables)

Note 3 - Fair Value Measurements (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2024

Dec. 31, 2023

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

		September 30, 2024
		Level 1				Level 2				Level 3				Total
Current assets:
Money market funds		$	13,889			$	—			$	—			$	13,889
Total assets measured at fair value		$	13,889			$	—			$	—			$	13,889

Liabilities:
Derivative liabilities - royalty agreement		$	—			$	—			$	1,418			$	1,418
Convertible notes payable			—				—				13,250				13,250
Total liabilities measured at fair value		$	—			$	—			$	14,668			$	14,668

		December 31, 2023
		Level 1				Level 2				Level 3				Total
Current assets:
Money market funds		$	7,203			$	—			$	—			$	7,203
Total assets measured at fair value		$	7,203			$	—			$	—			$	7,203

Liabilities:
Derivative liabilities - royalty agreement		$	—			$	—			$	1,014			$	1,014
Total liabilities measured at fair value		$	—			$	—			$	1,014			$	1,014

		December 31, 2023
		Level 1				Level 2				Level 3				Total
Current assets:
Money market funds		$	7,203			$	—			$	—			$	7,203
Total assets measured at fair value		$	7,203			$	—			$	—			$	7,203

Liabilities:
Derivative liabilities – royalty agreement		$	—			$	—			$	1,014			$	1,014
Total liabilities measured at fair value		$	—			$	—			$	1,014			$	1,014

		December 31, 2022
		Level 1				Level 2				Level 3				Total
Current assets:
Money market funds		$	15,203			$	—			$	—			$	15,203
Total assets measured at fair value		$	15,203			$	—			$	—			$	15,203

Liabilities:
Derivative liabilities – royalty agreement		$	—			$	—			$	1,499			$	1,499
Total liabilities measured at fair value		$	—			$	—			$	1,499			$	1,499

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

		September 30, 2024				December 31, 2023
Discount rate			24.0	%			25.0	%
Probability rate of achieving FDA approval of a product			56.6	%			50.0	%
Expected term to FDA regulatory approval of a product (in years)		2.67					3.50

		September 30, 2024
Risk-free interest rate			4.40	%
Volatility			77.50	%
Dividend yield			0.00	%
Probability-weighted remaining term (years)			0.5
Stock price		$	3.67

		December 31,
		2023				2022
Discount rate			25.0	%			25.0	%
Probability rate of achieving FDA approval of a product			50	%			50	%
Expected term to FDA regulatory approval of a product (in years)			3.50				1.75

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		Three Months Ended September 30, 2024				Nine Months Ended September 30, 2024
Balance, beginning of period		$	1,343			$	1,014
Fair value adjustments			75				404
Balance, end of the period		$	1,418			$	1,418

		2023				2022
Derivative liabilities – royalty agreement
Balance at January 1		$	1,499			$	1,199
Fair value adjustments on derivative liabilities			(485	)			300
Balance at December 31		$	1,014			$	1,499

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

		Three Months Ended September 30, 2024				Nine Months Ended September 30, 2024
Balance, beginning of period		$	10,029			$	-
Initial fair value at issuance			-				10,000
Issuance of convertible notes during the period			2,433				2,433
Accrued interest expense			220				249
Fair value adjustments			568				568
Balance, end of the period		$	13,250			$	13,250