Stockholders' Equity (Tables)
|
3 Months Ended |
Mar. 31, 2022 |
|---|
| Stockholders' Equity |
|
| Schedule of share-based compensation expense recognized |
The estimated grant date fair value of the Company’s share based awards is amortized on a straight-line basis over the awards’ service periods. Share based compensation expense recognized was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2022 |
|
2021 |
|
Research and development |
|
$ |
275 |
|
$ |
260 |
|
Selling, general and administrative |
|
|
873 |
|
|
840 |
|
Cost of goods sold |
|
|
7 |
|
|
11 |
|
Total stock-based compensation |
|
$ |
1,155 |
|
$ |
1,111 |
|
|
| Summary of stock option activity |
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|
|
|
|
|
|
|
|
|
Options Outstanding |
|
|
|
|
|
|
|
Weighted |
|
|
|
|
|
|
|
Average |
|
|
|
|
Weighted |
|
Remaining |
|
|
|
|
Average |
|
Contractual |
|
|
Number of |
|
Exercise |
|
Term |
|
|
Shares |
|
Price |
|
(in years) |
Balance, December 31, 2021 |
|
12,449,870 |
|
$ |
2.67 |
|
7.11 |
Granted |
|
244,950 |
|
|
0.60 |
|
|
Exercised |
|
— |
|
|
— |
|
|
Forfeited/Cancelled |
|
(435,809) |
|
|
1.85 |
|
|
Balance, March 31, 2022 |
|
12,259,011 |
|
$ |
2.65 |
|
6.97 |
Vested or expected to vest at March 31, 2022 |
|
12,259,011 |
|
$ |
2.65 |
|
6.97 |
Exercisable at March 31, 2022 |
|
7,457,237 |
|
$ |
3.30 |
|
5.66 |
|
| Schedule of weighted-average assumptions: |
|
|
|
|
|
|
|
|
|
March 31, |
|
|
|
|
2022 |
|
2021 |
|
|
Expected term of options (in years) |
|
6.3 |
|
6.2 |
|
|
Risk-free interest rate |
|
1.5 |
% |
0.8 |
% |
|
Expected volatility |
|
92.5 |
% |
97.5 |
% |
|
Dividend yield |
|
— |
% |
— |
% |
|
|
| Schedule of shares available to be granted under equity incentive plans |
At March 31, 2022, the Company has the following shares available to be granted under its equity incentive plans:
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|
|
|
|
|
|
|
|
Inducement |
|
|
2013 Plan |
|
Plan |
Available at December 31, 2021 |
|
4,178,805 |
|
252,500 |
Authorized |
|
6,620,800 |
|
— |
Granted |
|
(244,950) |
|
— |
Shares withheld for taxes not issued |
|
— |
|
— |
Forfeited/Cancelled |
|
27,871 |
|
— |
Available at March 31, 2022 |
|
10,582,526 |
|
252,500 |
|
| Schedule of shares of common stock reserved/available |
At March 31, 2022, the Company has reserved the following shares of common stock for issuance:
|
|
|
Stock options outstanding under 2013 Plan |
|
12,011,511 |
Restricted stock units outstanding under 2013 Plan |
|
5,918,496 |
Stock options outstanding under Inducement Plan |
|
247,500 |
Shares reserved for future issuance under Inducement Plan |
|
252,500 |
Shares reserved for future issuance under 2013 Employee Stock Purchase Plan |
|
225,806 |
Warrants outstanding |
|
275,430 |
Total shares of common stock reserved for future issuance |
|
18,931,243 |
|