Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Stockholders' Equity

Stockholders' Equity

7.   Stockholders’ Equity

Preferred Stock

Under the Company’s amended and restated certificate of incorporation, the Company has 5,000,000 shares of preferred stock authorized for issuance, with a $0.001 par value per share. Preferred stock may be issued from time to time in one or more series, each series to have such terms as stated or expressed in the resolutions providing for the issue of such series adopted by the board of directors of the Company. Preferred stock which may be redeemed, purchased or acquired by the Company may be reissued except as otherwise provided by law. As of December 31, 2023, the Company had 31,107 shares of Series X Preferred Stock outstanding. Each share of Series X Preferred Stock is convertible into 166.67 shares of common stock and therefore the number of shares of underlying common stock issuable upon conversion of the Series X Preferred Stock is 5,184,591.

Outstanding Warrants

The following table presents information about warrants that are issued and outstanding at December 31, 2023:

Year Issued	Equity Instrument	Warrants Outstanding	Exercise Price		Date of Expiration
2019	Common Stock	331,858	$	37.50	2/7/2024
2023 (1)	Common Stock	7,368,738	$	8.03	10/16/2028
Total		7,700,596
Weighted average exercise price			$	9.30
Weighted average life in years					4.60

(1) 1,571,093 pre-funded warrants were issued and outstanding in 2023, not included in the table above, with an exercise price of $0.001 and are exercisable until all pre-funded warrants are exercised in full.

Common Stock

As of December 31, 2023, the Company had 150,000,000 shares of common stock authorized for issuance, $0.001 par value per share, with 41,034,797 shares issued and outstanding. The voting, dividend and liquidation rights of holders of common stock are subject to and qualified by the rights, powers and preferences of the holders of any outstanding preferred stock.

Reserved for Future Issuance

The Company has reserved for future issuance the following shares of common stock:

	December 31,	December 31,
	2023	2022
Warrants for the purchase of common stock	9,271,689	1,530,176
Reserve under the 2015 Amended and Restated Stock Incentive Plan and the 2022 Inducement Stock Incentive Plan	5,334,301	1,013,520
Series X Preferred Stock	5,184,591	5,242,501
Options outstanding to purchase common stock	3,553,969	2,253,431
Shares reserved for the employee stock purchase plan	43,060	36,982
Total	23,387,610	10,076,610