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Stockholders' Equity (Tables)
 3 Months Ended
Mar. 31, 2021
Stockholders' Equity Note [Abstract]  
Schedule of Stockholders' Equity Note, Warrants or Rights
As of March 31, 2021, we had the following outstanding warrants to purchase shares of common stock:

Number of Underlying SharesExercise PriceExpiration
Investor Warrants269,180$3.3700January 13, 2025
Placement Agent Warrants41,680
$4.9940
January 13, 2025
310,860

As of March 31, 2020, we had the following outstanding warrants to purchase shares of common stock:
Number of Underlying Shares*Exercise PriceExpiration
Investor Warrants688,360$3.3700January 13, 2025
Placement Agent Warrants48,185$4.9940January 13, 2025
736,545
Summary of stock-based compensation expense
The following table summarizes stock-based compensation expense and the impact it had on operations for the periods presented (in thousands):

Three months ended
March 31,
20212020
Cost of sales$2 $1 
Product development6 1 
Selling, general, and administrative132 18 
Total stock-based compensation$140 $20 
Schedule of valuation assumptions Estimates utilized in the calculation include the expected life of the option, risk-free interest rate, and expected volatility, and are further detailed below.
Three months ended
March 31,
20212020
Fair value of options issued*$4.26 $1.12 
Exercise price*$5.51 $1.48 
Expected life of options (in years)6.26.1
Risk-free interest rate0.8 %0.7 %
Expected volatility96.3 %92.8 %
Dividend yield0.0 %0.0 %
*Prior year options have been restated for the 1-for-5 reverse stock split effective June 11, 2020.
Summary of option activity
A summary of option activity under all outstanding stock incentive plans for the three months ended March 31, 2021 is presented as follows:

Number of
Options		Weighted
Average
Exercise
Price Per
Share		Weighted
Average
Remaining
Contractual
Life (in years)
Balance at December 31, 2020221,450 $3.45 
Granted72,120 5.51 
Canceled/forfeited(4,459)2.77 
Expired(1,500)53.50 
Balance at March 31, 2021287,611 $3.71 8.9
Vested and expected to vest at March 31, 2021228,312 $3.68 8.8
Exercisable at March 31, 202162,154 $4.25 8.1
Summary of restricted stock activity
A summary of restricted stock unit activity under all outstanding stock incentive plans for the three months ended March 31, 2021 is presented as follows:
Restricted
Stock Units		Weighted
Average
Grant
Date
Fair Value		Weighted
Average
Remaining
Contractual
Life (in years)
Balance at December 31, 20204,480 $8.64 
Granted50,000 5.26 
Vested(1,280)12.40 
Balance at March 31, 202153,200 $5.37 1.4