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Warrants
3 Months Ended
Mar. 31, 2022
Warrants and Rights Note Disclosure [Abstract]  
Warrants

12. Warrants

The Company issued the following warrants to purchase shares of its common stock, which are outstanding as of March 31, 2022 or December 31, 2021, respectively. These warrants are exercisable any time at the option of the holder until their expiration date.

 

 

 

Issuance Date

 

Term

 

Exercise
Price Per
Share

 

 

Warrants
Exercised
during the
Year Ended
December 31,
2021

 

 

Warrants
Outstanding at
December 31,
2021

 

 

Warrants
Exercised
during the
Three
Months Ended
March 31,
2022

 

 

Warrants
Outstanding at
March 31,
2022

 

January 2021 Placement Agent Warrants

 

January 2021

 

5.5 years

 

$

3.99

 

 

 

 

 

 

393,839

 

 

 

 

 

 

393,839

 

January 2021 Service and Performance Warrants (1)

 

January 2021

 

2 years

 

$

3.08

 

 

 

 

 

 

7,500

 

 

 

 

 

 

7,500

 

December 2020 Warrants

 

December 2020

 

5.5 years

 

$

3.00

 

 

 

 

 

 

2,618,658

 

 

 

 

 

 

2,618,658

 

December 2020 Placement Agent Warrants

 

December 2020

 

5 years

 

$

3.82

 

 

 

 

 

 

130,933

 

 

 

 

 

 

130,933

 

July 2020 Warrants

 

July 2020

 

5.5 years

 

$

3.85

 

 

 

 

 

 

641,416

 

 

 

 

 

 

641,416

 

July 2020 Placement Agent Warrants

 

July 2020

 

5.5 years

 

$

4.97

 

 

 

 

 

 

32,071

 

 

 

 

 

 

32,071

 

May 2020 Warrants

 

May 2020

 

5 years

 

$

4.78

 

 

 

 

 

 

1,392,345

 

 

 

 

 

 

1,392,345

 

May 2020 Placement Agent Warrants

 

May 2020

 

5 years

 

$

6.13

 

 

 

 

 

 

69,617

 

 

 

 

 

 

69,617

 

March 2020 Service and Performance Warrants (1)

 

March 2020

 

3 years

 

$

2.50

 

 

 

 

 

 

18,350

 

 

 

 

 

 

18,350

 

February 12, 2020 Service and Performance Warrants (1)(3)

 

February 2020

 

2 years

 

$

4.71

 

 

 

 

 

 

150,000

 

 

 

 

 

 

 

February 3, 2020 Service and Performance Warrants (1)(3)

 

February 2020

 

2 years

 

$

4.91

 

 

 

 

 

 

10,000

 

 

 

 

 

 

 

September 2019 Placement Agent Warrants

 

September 2019

 

5 years

 

$

9.48

 

 

 

 

 

 

65,942

 

 

 

 

 

 

65,942

 

June 2019 Placement Agent Warrants

 

June 2019

 

5 years

 

$

6.29

 

 

 

 

 

 

74,479

 

 

 

 

 

 

74,479

 

April 2019 Service and Performance Warrants (1)

 

April 2019

 

5 years

 

$

6.18

 

 

 

 

 

 

145,154

 

 

 

 

 

 

145,154

 

June 2018 Placement Agent Warrants

 

June 2018

 

5 years

 

$

12.57

 

 

 

 

 

 

69,617

 

 

 

 

 

 

69,617

 

March 2018 Placement Agent Warrants

 

March 2018

 

5 years

 

$

41.56

 

 

 

 

 

 

15,038

 

 

 

 

 

 

15,038

 

January 2021 Warrants (2)

 

January 2021

 

5.5 years

 

$

3.13

 

 

 

 

 

 

3,938,392

 

 

 

 

 

 

3,938,392

 

September 2019 Warrants (2)

 

September 2019

 

5.5 years

 

$

7.52

 

 

 

 

 

 

659,414

 

 

 

 

 

 

659,414

 

June 2019 Warrants (2)

 

June 2019

 

5.5 years

 

$

5.00

 

 

 

 

 

 

435,830

 

 

 

 

 

 

435,830

 

June 2018 Warrants (2)

 

June 2018

 

5.5 years

 

$

9.94

 

 

 

 

 

 

 

 

 

 

 

 

 

March 2018 Warrants (2)

 

March 2018

 

5 years

 

$

10.73

 

 

 

 

 

 

641,416

 

 

 

 

 

 

641,416

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

11,510,011

 

 

 

 

 

 

11,350,011

 

 

(1) The Company issued service and performance warrants (“Service and Performance Warrants”) in connection with professional services agreements with non-affiliated third party entities.

(2) Certain warrants contain a contingent cash payment feature and therefore were accounted for as a liability at the date of issuance and were adjusted to fair value at each balance sheet date. Upon adoption of ASU No. 2020-06 on January 1, 2022, all of the common stock warrant liabilities have been reclassified to equity classified common stock warrants, due to the elimination of the contingent cash payments as criteria for liability classification.

(3) These warrants expired in February 2022.