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Stockholders' Equity (Tables)
9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Schedule of stockholders' equity note, warrants or rights As of September 30, 2022 and 2021, we had the following outstanding January 2020 warrants to purchase shares of common stock:
As of September 30, 2022
As of September 30, 2021
Number of Underlying SharesExercise PriceExpiration
Investor Warrants187,734269,180$3.3700January 13, 2025
Placement Agent Warrants41,68041,680
$4.9940
January 13, 2025
229,414310,860
Summary of stock-based compensation expense The following table summarizes stock-based compensation expense and the impact it had on operations for the periods presented (in thousands):
Three months ended
September 30,
Nine months ended
September 30,
2022202120222021
Cost of sales$— $$$
Product development16 10 
Selling, general, and administrative13 35 97 370 
Total stock-based compensation$17 $39 $115 $387 
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.
Nine months ended
September 30,
20222021
Fair value of options issued$0.77 $4.18 
Exercise price$0.95 $5.39 
Expected life of options (in years)6.16.2
Risk-free interest rate3.0 %0.8 %
Expected volatility104.0 %96.5 %
Dividend yield0.0 %0.0 %
Summary of option activity A summary of option activity under all outstanding stock incentive plans for the nine months ended September 30, 2022 is presented as follows:
Number of
Options
Weighted
Average
Exercise
Price Per
Share
Weighted
Average
Remaining
Contractual
Life (in years)
Balance at December 31, 2021267,109 $3.46 
Granted226,820 0.95 
Exercised(250)1.45 
Canceled/forfeited(135,447)3.03 
Balance at September 30, 2022358,064 $2.03 8.2
Vested and expected to vest at September 30, 2022291,379 $2.21 7.9
Exercisable at September 30, 2022118,920 $3.21 5.6
Summary of restricted stock activity A summary of restricted stock unit activity under all outstanding stock incentive plans for the nine months ended September 30, 2022 is presented as follows:
Restricted
Stock Units
Weighted
Average
Grant
Date
Fair Value
Weighted
Average
Remaining
Contractual
Life (in years)
Balance at December 31, 20212,400 $7.14 
Granted40,000 1.40 
Vested(40,800)1.51 
Balance at September 30, 20221,600 $7.14 7.9