Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.21.2
Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Summary of Common Stock Shares Activity

The following table summarizes common stock share activity for the three and nine months ended September 30, 2021 and 2020 (dollars in thousands):

 

 

 

Three Months Ended September 30, 2021

 

 

 

Shares of

Common Stock

 

 

Common

Stock

 

 

Additional

Paid-in

Capital

 

 

Accumulated

Deficit

 

 

Total

Stockholders’

Equity

 

Balance, June 30, 2021

 

 

23,147,552

 

 

$

26

 

 

$

361,925

 

 

$

(329,631

)

 

$

32,320

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(605

)

 

 

(605

)

Stock-based compensation expense

 

 

 

 

 

 

 

 

588

 

 

 

 

 

 

588

 

Common stock issued through employee stock purchase

 

 

2,759

 

 

 

 

 

 

13

 

 

 

 

 

 

13

 

Common stock issued, net of expenses

 

 

733,937

 

 

 

1

 

 

 

5,300

 

 

 

 

 

 

5,301

 

Common stock issued for vested restricted stock units

 

 

1,322

 

 

 

 

 

 

(3

)

 

 

 

 

 

(3

)

Balance, September 30, 2021

 

 

23,885,570

 

 

$

27

 

 

$

367,823

 

 

$

(330,236

)

 

$

37,614

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months September 30, 2021

 

 

 

Shares of

Common Stock

 

 

Common

Stock

 

 

Additional

Paid-in

Capital

 

 

Accumulated

Deficit

 

 

Total

Stockholders’

Equity

 

Balance, December 31, 2020

 

 

19,663,698

 

 

$

20

 

 

$

349,351

 

 

$

(326,613

)

 

$

22,758

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(3,623

)

 

 

(3,623

)

Stock-based compensation expense

 

 

 

 

 

 

 

 

1,528

 

 

 

 

 

 

1,528

 

Common stock issued through employee stock purchase

 

 

4,943

 

 

 

 

 

 

22

 

 

 

 

 

 

22

 

Common stock issued, net of expenses

 

 

3,250,739

 

 

 

6

 

 

 

8,707

 

 

 

 

 

 

8,713

 

Common stock issued for conversion of April 2020 Notes

 

 

959,080

 

 

 

1

 

 

 

7,452

 

 

 

 

 

 

7,453

 

Common stock issued for vested restricted stock units

 

 

7,110

 

 

 

 

 

 

(3

)

 

 

 

 

 

(3

)

Vested Loan Agreement warrants

 

 

 

 

 

 

 

 

766

 

 

 

 

 

 

766

 

Balance, September 30, 2021

 

 

23,885,570

 

 

$

27

 

 

$

367,823

 

 

$

(330,236

)

 

$

37,614

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended September 30, 2020

 

 

 

Shares of

Common Stock

 

 

Common

Stock

 

 

Additional

Paid-in

Capital

 

 

Accumulated

Deficit

 

 

Total

Stockholders’

Equity

 

Balance, June 30, 2020

 

 

10,478,927

 

 

$

10

 

 

$

291,134

 

 

$

(284,811

)

 

$

6,333

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

909

 

 

 

909

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

399

 

 

 

 

 

 

399

 

Common stock issued, net of expenses

 

 

315,939

 

 

 

 

 

 

1,909

 

 

 

 

 

 

1,909

 

Common stock issued through employee stock purchase plan

 

 

2,284

 

 

 

 

 

 

9

 

 

 

 

 

 

9

 

Common stock issued for vested restricted stock units

 

 

969

 

 

 

 

 

 

(1

)

 

 

 

 

 

(1

)

Balance, September 30, 2020

 

 

10,798,119

 

 

$

10

 

 

$

293,450

 

 

$

(283,902

)

 

$

9,558

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2020

 

 

 

Shares of

Common Stock

 

 

Common

Stock

 

 

Additional

Paid-in

Capital

 

 

Accumulated

Deficit

 

 

Total

Stockholders’

Equity

 

Balance, December 31, 2019

 

 

9,741,372

 

 

$

10

 

 

$

284,313

 

 

$

(271,428

)

 

$

12,895

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(12,474

)

 

 

(12,474

)

Stock-based compensation expense

 

 

 

 

 

 

 

 

1,220

 

 

 

 

 

 

1,220

 

Common stock issued through employee stock purchase plan and stock option plans

 

 

4,652

 

 

 

 

 

 

28

 

 

 

 

 

 

28

 

Common stock issued, net of expenses

 

 

647,504

 

 

 

 

 

 

4,578

 

 

 

 

 

 

4,578

 

Common stock issued for conversion of April 2020 Notes

 

 

316,461

 

 

 

 

 

 

2,784

 

 

 

 

 

 

2,784

 

Common stock issued for commitment shares

 

 

70,910

 

 

 

 

 

 

602

 

 

 

 

 

 

602

 

Common stock issued for vested restricted stock units

 

 

17,220

 

 

 

 

 

 

(75

)

 

 

 

 

 

(75

)

Balance, September 30, 2020

 

 

10,798,119

 

 

$

10

 

 

$

293,450

 

 

$

(283,902

)

 

$

9,558

 

Common Stock Reserved For Future Issuances

The Company had reserved shares of common stock for future issuance as follows:

 

 

 

September 30, 2021

 

 

December 31, 2020

 

Outstanding stock options

 

 

1,643,506

 

 

 

830,343

 

Outstanding restricted stock units

 

 

149,134

 

 

 

29,087

 

Warrants to purchase common stock associated with June 2016 Public Offering

 

 

 

 

 

421,867

 

Warrants to purchase common stock associated with March 2018 Public Offering – Series 2

 

 

798,810

 

 

 

798,810

 

Warrants to purchase common stock associated with December 2019 Public Offering

 

 

4,472,205

 

 

 

4,472,205

 

Warrants to purchase common stock associated with December 2020 Public Offering - Series 1

 

 

6,439,866

 

 

 

6,800,000

 

Warrants to purchase common stock associated with December 2020 Public Offering - Series 2

 

 

6,800,000

 

 

 

6,800,000

 

Prefunded warrants to purchase common stock associated with December 2020 Public Offering

 

 

3,200,000

 

 

 

5,260,000

 

Warrants to purchase common stock associated with Loan Agreement

 

 

170,410

 

 

 

 

Warrants to purchase common stock associated with Solar loan agreement

 

 

 

 

 

12,243

 

For possible future issuance for the conversion of the March 2019 Notes

 

 

1,138,200

 

 

 

1,138,200

 

For possible future issuance for the conversion of the April 2020 Notes

 

 

 

 

 

1,299,790

 

For possible future issuance under 2014 Plan (Note 8)

 

 

184,497

 

 

 

146,488

 

For possible future issuance under Employee Stock Purchase Plan

 

 

3,893

 

 

 

5,895

 

For possible future issuance under 2015 Plan (Note 8)

 

 

231,450

 

 

 

14,050

 

Total common shares reserved for future issuance

 

 

25,231,971

 

 

 

28,028,978