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Common Stock (Tables)
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Summary of Fair Value of Option Awards

The estimated fair value of stock options granted in the respective periods was determined using the Black-Scholes option pricing model using the following weighted average assumptions:

 

 

 

2019

 

 

2018

 

 

Risk-free interest rates

 

 

2.52

%

 

 

2.93

%

 

Expected dividend yield

 

 

0

%

 

 

0

%

 

Expected life

 

5.97 years

 

 

5.68 years

 

 

Expected volatility

 

 

94.25

%

 

 

88.23

%

 
Summary of Share-Based Compensation Expense

The results for the periods set forth below included stock-based compensation expense in the following expense categories of the consolidated statements of loss (in thousands):

 

 

 

Year ended

 

 

 

December 31,

 

 

 

2019

 

 

2018

 

Research and development

 

$

364

 

 

$

272

 

General and administrative

 

 

837

 

 

 

582

 

Total stock-based compensation

 

$

1,201

 

 

$

854

 
Summary of Stock Options Activity

Stock option transactions and the number of stock options outstanding are summarized below:

 

 

 

Number of

 

 

Weighted

 

 

 

Optioned

 

 

Average

 

 

 

Common

 

 

Exercise

 

 

 

Shares

 

 

Price

 

Balance, January 1, 2019

 

 

665,585

 

 

$

15.65

 

Granted

 

 

345,350

 

 

 

1.73

 

Forfeited

 

 

(352

)

 

 

2,450.80

 

Balance, December 31, 2019

 

 

1,010,583

 

 

$

10.05

 
Summary of Stock Options Outstanding Regarding Number of Common Shares Issuable upon Exercise of Outstanding Options

(1) Number of common shares issuable upon exercise of outstanding options:

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

 

 

 

 

 

Weighted-

 

 

Contractual

 

 

 

 

 

 

 

Average

 

 

Life

 

Exercise Prices

 

Number of Options

 

 

Exercise Price

 

 

(in years)

 

$1.42 - $1.99

 

 

302,100

 

 

$

1.42

 

 

 

9.08

 

$2.00 - $2.97

 

 

386,650

 

 

 

2.56

 

 

 

8.72

 

$2.98 - $3.37

 

 

167,750

 

 

 

3.37

 

 

 

8.57

 

$3.38 - $3.70

 

 

8,250

 

 

 

3

 

 

 

9

 

$3.71 - $16.46

 

 

35,000

 

 

 

4

 

 

 

9

 

$16.47 - $69.45

 

 

104,910

 

 

 

28.90

 

 

 

7.58

 

$69.46 - $206.25

 

 

2,190

 

 

 

186.98

 

 

 

5.57

 

$206.26- $1,286.45

 

 

853

 

 

 

465.93

 

 

 

4.47

 

$1,286.46 - $1,348.05

 

 

1,530

 

 

 

1,304.27

 

 

 

3.78

 

$1,348.06 - $1,960.20

 

 

1,350

 

 

 

1,605.51

 

 

 

1.62

 

 

 

 

1,010,583

 

 

$

10.05

 

 

 

8.69

 
Summary of Stock Options Outstanding Regarding Number of Common Shares Issuable upon Exercise of Vested Options

(2) Number common shares issuable upon exercise of vested options:

 

 

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

 

 

 

 

Remaining

 

 

 

 

 

 

 

Weighted-

 

 

Contractual

 

 

 

 

 

 

 

Average

 

 

Life

 

Exercise Prices

 

Number of Options

 

 

Exercise Price

 

 

(in years)

 

$1.42 - $1.99

 

 

34,826

 

 

$

1.42

 

 

 

9.08

 

$2.00 - $2.97

 

 

162,076

 

 

 

2.56

 

 

 

8.72

 

$2.98 - $3.37

 

 

59,410

 

 

 

3.37

 

 

 

8.57

 

$3.38 - $3.70

 

 

—

 

 

 

—

 

 

 

—

 

$3.71 - $16.46

 

 

—

 

 

 

—

 

 

 

—

 

$16.47 - $69.45

 

 

63,144

 

 

 

28.90

 

 

 

7.58

 

$69.46 - $206.25

 

 

2,190

 

 

 

186.98

 

 

 

5.57

 

$206.26- $1,286.45

 

 

853

 

 

 

465.93

 

 

 

4.47

 

$1,286.46 - $1,348.05

 

 

1,530

 

 

 

1,304.27

 

 

 

3.78

 

$1,348.06 - $1,960.20

 

 

1,350

 

 

 

1,605.51

 

 

 

1.62

 

 

 

 

325,379

 

 

$

22.93

 

 

 

8.43

 
Summary of Restricted Stock Unit Award Activity

The following table summarizes our restricted stock unit award activity during the year ended December 31, 2019:

 

 

 

 

 

 

 

Weighted

 

 

 

Number

 

 

Average

 

 

 

of

 

 

Grant Date

 

 

 

Shares

 

 

Fair Value

 

Balance, January 1, 2019

 

 

15,142

 

 

$

30.53

 

Released

 

 

(5,134

)

 

 

33.54

 

Balance, December 31, 2019

 

 

10,008

 

 

$

28.99

 
Summary of Outstanding Warrants

The following is a summary of outstanding warrants to purchase common stock at December 31, 2019:

 

 

 

Total

 

 

 

 

 

 

 

 

 

Outstanding

 

 

Exercise

 

 

 

 

 

and

 

 

price per

 

 

 

 

 

Exercisable

 

 

Share

 

 

Expiration Date

(1) Series A-1 Warrants issued in April 2015 financing

 

 

2,175

 

 

$

264.0000

 

 

October 2020

(2) Warrants issued in September 2017 financing

 

 

8,224

 

 

$

34.9600

 

 

March 2023

(3) Warrants issued in June 2018 financing

 

 

2,282,000

 

 

$

4.0000

 

 

June 2023

(4) Warrants issued in October 2018 financing

 

 

624,313

 

 

$

3.1445

 

 

October 2023

(5) Warrants issued in May 2019 financing

 

 

1,200,000

 

 

$

4.5000

 

 

May 2025

(6) Warrants issued in December 2019 financing

 

 

23,000,000

 

 

$

0.6000

 

 

Dec 2024
Computation of Basic and Diluted Net Loss Attributable to Common Shareholders Per Share

The following table presents the computation of basic and diluted net loss attributable to common stockholders per share (in thousands, except per share and share amounts):

 

 

 

Years ended December 31,

 

 

 

2019

 

 

208

 

 

2017

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(16,395

)

 

$

(12,687

)

 

$

(10,583

)

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of common shares outstanding

 

 

8,246,400

 

 

 

3,510,217

 

 

 

479,442

 

Basic and diluted net loss per common share

 

$

(1.99

)

 

$

(3.61

)

 

$

(22.07

)