Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.22.1
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

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:

    

    

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