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Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Schedule of stockholders' equity note, warrants or rights As of June 30, 2023 and 2022, we had the following outstanding January 2020 Warrants:
As of June 30, 2023
As of June 30, 2022
Number of Underlying SharesExercise PriceExpiration
Investor Warrants26,81926,819$23.59January 13, 2025
Placement Agent Warrants5,9545,954$34.96January 13, 2025
32,77332,773
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
June 30,
Six months ended
June 30,
2023202220232022
Cost of sales$$$$
Product development12 
Selling, general, and administrative19 47 41 84 
Total stock-based compensation$23 $54 $49 $98 
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:
Six months ended
June 30,
20232022
Fair value of options issued$2.49 $7.93 
Exercise price$3.04 $10.00 
Expected life of options (in years)6.16.1
Risk-free interest rate3.5 %2.0 %
Expected volatility101.8 %99.3 %
Dividend yield0.0 %0.0 %
Summary of option activity A summary of option activity under all outstanding stock incentive plans for the six months ended June 30, 2023 is presented as follows:
Number of
Options
Weighted
Average
Exercise
Price Per
Share
Weighted
Average
Remaining
Contractual
Life (in years)
Balance at December 31, 202247,103 $13.78 
Granted11,427 3.04 
Canceled/forfeited(12,203)19.38 
Expired(3,827)17.06 
Balance at June 30, 202342,500 $8.99 9.0
Vested and expected to vest at June 30, 202333,951 $9.83 8.9
Exercisable at June 30, 20235,786 $23.91 7.4
*Options have been restated for the 1-for-7 reverse stock split effective June 16, 2023.
Summary of restricted stock activity A summary of restricted stock unit activity under all outstanding stock incentive plans for the six months ended June 30, 2023 is presented as follows:
Restricted
Stock Units
Weighted
Average
Grant
Date
Fair Value
Weighted
Average
Remaining
Contractual
Life (in years)
Balance at December 31, 20221,657 $11.13 
Granted— — 
Balance at June 30, 20231,657 $11.13 1.2
*Restricted stock units have been restated for the 1-for-7 reverse stock split effective June 16, 2023.