Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.22.2.2
Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2022
Stockholders' Equity  
Summary of net proceeds from the Preferred Stock Transaction

Common Stock Warrant liability

$

1,519

Series A and Series B Preferred Stock

 

481

Gross Proceeds

$

2,000

Schedule of changes in the fair value of the Company's warrant liability representing a recurring measurement classified within Level 3, wherein fair value is estimated using significant unobservable inputs

    

July 29,

    

September 30,

    

    

2022

    

2022

Expected term of warrants (in years)

5.0

4.8

Risk-free interest rate

2.7

%  

4.1

%  

Expected volatility

104.3

%  

105.5

%  

Dividend yield

%  

%  

Summary of roll forward of the Common Stock Warrant liability

Date of issuance, July 29, 2022

$

1,519

Change in fair value

 

(651)

Balance, September 30, 2022

$

868

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 September 30, 

Nine Months Ended September 30, 

    

2022

    

2021

    

2022

    

2021

    

Research and development

$

178

$

279

$

672

$

787

Selling, general and administrative

 

601

 

690

 

2,257

 

2,455

Cost of goods sold

(15)

9

(2)

29

Total stock-based compensation

$

764

$

978

$

2,927

$

3,271

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

 

999,950

 

0.46

Exercised

 

 

Forfeited/Cancelled

 

(4,080,550)

 

3.72

Balance, September 30, 2022

 

9,369,270

$

1.97

 

7.05

Vested or expected to vest at September 30, 2022

 

9,369,270

$

1.97

 

7.05

Exercisable at September 30, 2022

 

5,875,106

$

2.32

 

6.03

Schedule of weighted-average assumptions:

September 30, 

    

2022

    

2021

    

    

Expected term of options (in years)

 

5.7

 

6.1

 

 

Risk-free interest rate

 

2.7

%  

0.9

%  

 

Expected volatility

 

98.0

%  

97.8

%  

 

Dividend yield

 

%  

%  

 

Schedule of changes in the status of non-vested RSU

    

    

Weighted 

Average 

Number of 

Grant Date

Awards

Fair Value

Non-vested at December 31, 2021

 

5,918,496

$

1.08

Granted

 

Vested

 

(167,953)

0.82

Forfeited

 

(994,399)

1.22

Non-vested at September 30, 2022

 

4,756,144

$

1.06

Schedule of shares available to be granted under equity incentive plans

At September 30, 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

 

(999,950)

Forfeited/Cancelled

 

4,883,886

47,500

Available at September 30, 2022

 

14,683,541

 

300,000

Schedule of shares of common stock reserved/available

At September 30, 2022, the Company has reserved the following shares of common stock for issuance:

Stock options outstanding under 2013 Plan

    

9,169,270

Restricted stock units outstanding under 2013 Plan

4,756,144

Stock options outstanding under Inducement Plan

 

200,000

Shares reserved for future issuance under Inducement Plan

 

300,000

Shares reserved for future issuance under 2013 Employee Stock Purchase Plan

 

225,806

Warrants outstanding

 

5,275,430

Total shares of common stock reserved for future issuance

 

19,926,650