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STOCKHOLDERS' EQUITY (Tables) | 9 Months Ended
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Sep. 30, 2024
STOCKHOLDERS' EQUITY [Abstract] |
Warrants Outstanding | The following table summarizes the changes in warrants outstanding for the nine months ended September 30, 2024:
|  | Shares |  |  | Weighted Average Exercise Price |
Warrants outstanding at December 31, 2023 |  |  | 12,502,906 |  |  | $ | 2.32 |
Expired |  |  | (34,800 | ) |  | $ | 7.50 |
Granted |  |  | - |  |  | $ | - |
Exercised |  |  | (11,308,702 | ) |  | $ | 2.31 |
Warrants outstanding at September 30, 2024 |  |  | 1,159,404 |  |  | $ | 2.26 |
Schedule of Assumptions | The following assumptions were used to determine the fair value of options granted during the nine months ended September 30, 2024 and 2023:
|  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |
Expected term |  | 5.5 - 6.3 years |  |  | 5.5 - 6.3 years |
Volatility |  | 66% |  |  | 68% |
Dividend yield |  | 0.0 |  |  | 0.0 |
Risk-free interest rate |  | 4.16-4.34% |  |  | 4.20-4.24% |
Schedule of Option Activity | A summary of the Company’s option activity under the Company’s equity incentive plans and related information is as follows:
|  | Shares |  |  | Weighted Average Exercise Price |
Options outstanding, vested and expected to vest at December 31, 2023 |  |  | 5,906,184 |  |  | $ | 3.38 |
Forfeited |  |  | (15,723 | ) |  | $ | 1.94 |
Expired |  |  | (221,067 | ) |  | $ | 7.34 |
Granted |  |  | 1,511,624 |  |  | $ | 6.25 |
Exercised |  |  | (1,925,498 | ) |  | $ | 3.85 |
Options outstanding, vested and expected to vest at September 30, 2024 |  |  | 5,255,520 |  |  | $ | 3.87 |
Options exercisable |  |  | 2,509,884 |  |  | $ | 3.10 |
Schedule of Unvested RSU Activity | A summary of the Company’s unvested RSU activity and related information is as follows:
|  | Shares |  |  | Weighted Average Grant Date Fair Value |
Balance at December 31, 2023 |  |  | 4,657,297 |  |  | $ | 2.81 |
Granted |  |  | 3,227,188 |  |  | $ | 7.25 |
Vested |  |  | (1,701,229 | ) |  | $ | 2.59 |
Forfeited |  |  | (211,688 | ) |  | $ | 3.57 |
Balance at September 30, 2024 |  |  | 5,971,568 |  |  | $ | 5.25 |
Schedule of Stock-Based Compensation Expense | Total stock-based compensation expense for all awards granted under the Company’s equity incentive plans for the three and nine months ended September 30, 2024 and 2023 is as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Research and development |  | $ | 24 |  |  | $ | 12 |  |  | $ | 65 |  |  | $ | 27 |
Plasma center operating expenses |  |  | 44 |  |  |  | 41 |  |  |  | 131 |  |  |  | 104 |
Selling, general and administrative |  |  | 2,714 |  |  |  | 1,451 |  |  |  | 6,960 |  |  |  | 3,839 |
Cost of product revenue |  |  | 397 |  |  |  | 191 |  |  |  | 1,027 |  |  |  | 472 |
Total stock-based compensation expense |  | $ | 3,179 |  |  | $ | 1,695 |  |  | $ | 8,183 |  |  | $ | 4,442 |

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- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-1 + Details
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- Definition Tabular disclosure of the change in restricted stock units (RSUs). + References No definition available. + Details
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