Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2022

Schedule of Diluted Net Loss Per Common Share

The Company calculates net loss per common share in accordance with ASC 260, Earnings Per Share. Basic net loss per common share for the three months ended March 31, 2022 and 2021 was determined by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding during the period. Per ASC 260, Earnings Per Share, the weighted average number of common shares outstanding utilized for determining the basic net loss per common share for the three months ended March 31, 2022 includes the outstanding pre-funded warrants to purchase 3,200,000 shares of common stock issued in the December 2020 Public Offering. Diluted net loss per common share for the three months ended March 31, 2022 and 2021 was determined as follows (in thousands, except share and per share amounts):

	Three Months Ended March 31,
	2022			2021
Net loss	$	(5,451	)	$	(4,676	)
Dilutive effect of warrant liability		—			(1,323	)
Dilutive effect of convertible debt		(584	)		—
Net loss allocated to common shares	$	(6,035	)	$	(5,999	)

Weighted average common shares outstanding – basic		32,051,228			25,802,700
Dilutive effect of warrant liability		—			721,220
Dilutive effect of convertible debt		1,138,200			—
Weighted average common shares outstanding – diluted		33,189,428			26,523,920

Net loss per share – diluted	$	(0.18	)	$	(0.23	)

Summary of Antidilutive Securities Excluded from Computation of Weighted Average Common Stock Outstanding

The following potentially dilutive shares of common stock have not been included in the computation of diluted net loss per share for the three months ended March 31, 2022 and 2021, as the result would be anti-dilutive:

	Three Months Ended March 31,
	2022		2021
Outstanding stock options		2,050,094		1,371,606
Outstanding restricted stock units		981,841		96,974
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
Warrants to purchase common stock associated with December 2020 Public Offering - Series 2		6,800,000		6,800,000
Warrants to purchase common stock associated with Loan Agreement		198,819		—
Warrants to purchase common stock associated with Solar loan agreement		—		12,243
Common stock associated with March 2019 Notes		—		1,138,200
Warrants to purchase common stock associated with Danforth		50,000		—
Total		10,879,564		15,111,905