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
Equity [Abstract]  
Summary of Common Stock Shares Activity he following table summarizes common stock share activity for the three and nine months ended September 30, 2022 and 2021 (dollars in thousands):

 

 

 

Three Months Ended September 30, 2022

 

 

 

Shares of
Common Stock

 

 

Common
Stock

 

 

Additional
Paid-in
Capital

 

 

Accumulated
Deficit

 

 

Total
Stockholders’
Equity

 

Balance, June 30, 2022

 

 

32,596,403

 

 

$

36

 

 

$

423,719

 

 

$

(378,275

)

 

$

45,480

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

(29,584

)

 

 

(29,584

)

Stock-based compensation expense

 

 

 

 

 

 

 

 

1,210

 

 

 

 

 

 

1,210

 

Common stock issued through employee stock purchase plan

 

 

3,714

 

 

 

 

 

 

8

 

 

 

 

 

 

8

 

Common stock issued, net of expenses

 

 

50,000

 

 

 

 

 

 

95

 

 

 

 

 

 

95

 

Common stock issued for vested restricted stock units

 

 

6,125

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance, September 30, 2022

 

 

32,656,242

 

 

$

36

 

 

$

425,032

 

 

$

(407,859

)

 

$

17,209

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 plan

 

 

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 Ended September 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

 

 

 

 

 

 

 

 

 

 

 

(48,380

)

 

 

(48,380

)

 

Stock-based compensation expense

 

 

 

 

 

 

 

 

3,232

 

 

 

 

 

 

3,232

 

Common stock issued through employee stock purchase plan

 

 

6,834

 

 

 

 

 

 

18

 

 

 

 

 

 

18

 

Common stock issued, net of expenses

 

 

3,895,943

 

 

 

4

 

 

 

21,006

 

 

 

 

 

 

21,010

 

Common stock issued for vested restricted stock units

 

 

48,131

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested Loan Agreement warrants

 

 

 

 

 

 

 

 

71

 

 

 

 

 

 

71

 

Balance, September 30, 2022

 

 

32,656,242

 

 

$

36

 

 

$

425,032

 

 

$

(407,859

)

 

$

17,209

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended 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 plan

 

 

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

 

Common Stock Reserved For Future Issuances

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

 

 

 

September 30, 2022

 

 

December 31, 2021

 

Outstanding stock options

 

 

2,125,002

 

 

 

1,542,126

 

Outstanding restricted stock units

 

 

990,015

 

 

 

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 10)

 

 

62,995

 

 

 

295,220

 

For possible future issuance under employee stock purchase plan

 

 

 

 

 

3,893

 

For possible future issuance under 2015 Plan (Note 10)

 

 

128,250

 

 

 

235,000

 

Total common shares reserved for future issuance

 

 

42,158,758

 

 

 

14,367,493