Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.22.2.2
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Summary of Common Stock Shares Activity

The following table summarizes common stock share activity for the three and six months ended June 30, 2022 and 2021 (dollars in thousands):

 

 

 

Three Months Ended June 30, 2022

 

 

 

Shares of

Common Stock

 

 

Common

Stock

 

 

Additional

Paid-in

Capital

 

 

Accumulated

Deficit

 

 

Total

Stockholders’

Equity

 

Balance, March 31, 2022

 

 

29,221,158

 

 

$

32

 

 

$

403,825

 

 

$

(364,930

)

 

$

38,927

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(13,345

)

 

 

(13,345

)

Stock-based compensation expense

 

 

 

 

 

 

 

 

1,100

 

 

 

 

 

 

1,100

 

Common stock issued, net of expenses

 

 

3,358,333

 

 

 

4

 

 

 

18,794

 

 

 

 

 

 

18,798

 

Common stock issued for vested restricted stock units

 

 

16,912

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, June 30, 2022

 

 

32,596,403

 

 

$

36

 

 

$

423,719

 

 

$

(378,275

)

 

$

45,480

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended June 30, 2021

 

 

 

Shares of

Common Stock

 

 

Common

Stock

 

 

Additional

Paid-in

Capital

 

 

Accumulated

Deficit

 

 

Total

Stockholders’

Equity

 

Balance, March 31, 2021

 

 

20,625,637

 

 

$

21

 

 

$

357,192

 

 

$

(331,289

)

 

$

25,924

 

Net income

 

 

 

 

 

 

 

 

 

 

 

1,658

 

 

 

1,658

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

542

 

 

 

 

 

 

542

 

Common stock issued, net of expenses

 

 

2,516,802

 

 

 

5

 

 

 

3,410

 

 

 

 

 

 

3,415

 

Common stock issued for vested restricted stock units

 

 

5,113

 

 

 

 

 

 

15

 

 

 

 

 

 

15

 

Vested Loan Agreement warrants

 

 

 

 

 

 

 

 

766

 

 

 

 

 

 

766

 

Balance, June 30, 2021

 

 

23,147,552

 

 

$

26

 

 

$

361,925

 

 

$

(329,631

)

 

$

32,320

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2022

 

 

 

Shares of

Common Stock

 

 

Common

Stock

 

 

Additional

Paid-in

Capital

 

 

Accumulated

Deficit

 

 

Total

Stockholders’

Equity

 

Balance, December 31, 2021

 

 

28,705,334

 

 

$

32

 

 

$

400,705

 

 

$

(359,479

)

 

$

41,258

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(18,796

)

 

 

(18,796

)

Stock-based compensation expense

 

 

 

 

 

 

 

 

2,022

 

 

 

 

 

 

2,022

 

Common stock issued through employee stock purchase plan

 

 

3,120

 

 

 

 

 

 

10

 

 

 

 

 

 

10

 

Common stock issued, net of expesnes

 

 

3,845,943

 

 

 

4

 

 

 

20,911

 

 

 

 

 

 

20,915

 

Common stock issued for vested restricted stock units

 

 

42,006

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested Loan Agreement warrants

 

 

 

 

 

 

 

 

71

 

 

 

 

 

 

71

 

Balance, June 30, 2022

 

 

32,596,403

 

 

$

36

 

 

$

423,719

 

 

$

(378,275

)

 

$

45,480

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 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

 

 

 

 

 

 

 

 

 

 

 

(3,018

)

 

 

(3,018

)

Stock-based compensation expense

 

 

 

 

 

 

 

 

940

 

 

 

 

 

 

940

 

Common stock issued through employee stock purchase plan

 

 

2,184

 

 

 

 

 

 

9

 

 

 

 

 

 

9

 

Common stock issued, net of expenses

 

 

2,516,802

 

 

 

5

 

 

 

3,407

 

 

 

 

 

 

3,412

 

Common stock issued for conversion of April 2020 Notes

 

 

959,080

 

 

 

1

 

 

 

7,452

 

 

 

 

 

 

7,453

 

Common stock issued for vested restricted stock units

 

 

5,788

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested Loan Agreement warrants

 

 

 

 

 

 

 

 

766

 

 

 

 

 

 

766

 

Balance, June 30, 2021

 

 

23,147,552

 

 

$

26

 

 

$

361,925

 

 

$

(329,631

)

 

$

32,320

 

Common Stock Reserved For Future Issuances

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

 

 

 

June 30, 2022

 

 

December 31, 2021

 

Outstanding stock options

 

 

2,129,002

 

 

 

1,542,126

 

Outstanding restricted stock units

 

 

1,024,929

 

 

 

133,834

 

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 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

 

 

 

3,200,000

 

Warrants to purchase common stock associated with April 2022 Public Offering

 

 

15,000,000

 

 

 

 

Prefunded warrants to purchase common stock associated with April 2022 Public Offering

 

 

11,666,667

 

 

 

 

Warrants to purchase common stock associated with Loan Agreement

 

 

198,819

 

 

 

170,410

 

Warrant to purchase common stock associated with Danforth

 

 

50,000

 

 

 

50,000

 

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

 

 

1,138,200

 

 

 

1,138,200

 

For possible future issuance under 2014 Plan (Note 9)

 

 

34,206

 

 

 

295,220

 

For possible future issuance under employee stock purchase plan

 

 

3,714

 

 

 

3,893

 

For possible future issuance under 2015 Plan (Note 9)

 

 

124,250

 

 

 

235,000

 

Total common shares reserved for future issuance

 

 

42,168,597

 

 

 

14,367,493