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Common Stock Warrants | 12 Months Ended
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Dec. 31, 2021
Equity [Abstract] |
Common Stock Warrants | 14. Common Stock Warrants In 2016, the Company issued a warrant for 45,000 shares of the Company’s common stock to a service provider with an exercise price of $1.14 per share, of which 15,000 warrant shares become exercisable upon completion of an offering of securities in a private placement by the Company with net proceeds in excess of $25.0 million and 30,000 warrant shares become exercisable upon completion of an IPO by the Company. The warrant expires in 2023. The fair value of the warrant was determined at the issuance date using the Black-Scholes option pricing model. 15,000 of these warrant shares became exercisable upon the completion of the Series B financing in 2018 and 30,000 of these warrants became exercisable upon completion of the IPO in 2020. 45,000 shares of this warrant were exercised in October 2021. In May 2018, the Company issued a warrant for 23,669 shares of the Company’s common stock to a service provider with an exercise price of $3.19 per share. The fair value of the warrant was determined at the issuance date using the Black-Scholes option pricing model, expires in 2025 and upon issuance was fully vested. In December 2020, the Company issued a warrant for 30,000 shares of the Company’s common stock to a service provider with an exercise price of $18.00 per share. This warrant vests over a period of four years and expires in 2027. The fair value of the warrant was determined at the issuance date using the Black-Scholes option pricing model. In April 2021, the Company issued a warrant for 40,000 shares of the Company’s common stock to a former employee with an exercise price of $9.41 per share as a result of a settlement agreement with such former employee. The warrant was exercised in May 2021. The Company previously recorded an accrual within accrued and other current liabilities within the balance sheet at December 31, 2020 to accrue for the settlement and the related expense was recognized in general and administrative expenses for the year ended December 31, 2020. Upon the issuance of the warrant in April 2021 in connection with the settlement, $1.1 million was reclassified from accrued and other current liabilities to additional paid-in capital within the balance sheet as of December 31, 2021. The Company recorded less than $0.1 million expense for the above warrants, within operating expenses in the statements of operations during each of the years ended December 31, 2021 and 2020.

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