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Stockholders' Equity (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2019
Dec. 31, 2018
Stockholders Equity Note [Abstract]    
Summary of Stock Option Activity

The following is a summary of stock option activity under the Plan for the nine months ended September 30, 2019:

 

     Number of
Shares
    Weighted Average
Exercise Price
     Weighted
Average
Remaining
Contractual
Term (Years)
     Aggregate
Intrinsic Value
 

Outstanding at December 31, 2018

     —            

Granted

     1,782       196.70        

Exercised

     —            

Cancelled/Forfeited

     (142     196.70        
  

 

 

         

Outstanding at September 30, 2019

     1,640     $ 196.70        9.4      $ —  
  

 

 

   

 

 

    

 

 

    

 

 

 

Exercisable at September 30, 2019

     1,095     $ 196.70        9.4      $ —  
  

 

 

   

 

 

    

 

 

    

 

 

 
 
Summary of Weighted Average Assumptions Used to Compute Fair Value

The following weighted average assumptions were used to compute the fair value of stock options granted during the nine months ended September 30, 2019:

 

     Nine months ended
September 30,
2019
 

Dividend yield

     N/A  

Expected volatility

     147.6

Weighted average risk-free interest rate

     2.6

Weighted average expected life (in years)

     5.5  

Weighted average grant date fair value

   $ 0.259  
 
Summary of Recognized Share-based Compensation Cost


 

     Three months ended
September 30,
     Nine months ended
September 30,
 
(in thousands)        2019              2018              2019              2018      

Selling, general and administrative

   $ 54      $ 116      $ 160      $ 58  

Research and development

     16        —          43        (63
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 70      $ 116      $ 203      $ (5
  

 

 

    

 

 

    

 

 

    

 

 

 

 
Summary of Warrant Activity

The following is a summary of warrant activity for the nine months ended September 30, 2019:

 


     Warrants     Exercise Price per
Share
     Weighted Average
Exercise Price
     Weighted
Average
Remaining Life
(Years)
 

Outstanding at December 31, 2018

     93,835     $ 7.00 - $7,000      $ 150.67        5.75  

Issued

     1,001,995          42.00     

Exercised

     (11,285        7.00     

Exchanged

     (82,521        170.31     
  

 

 

         

Outstanding at September 30, 2019

     1,002,024     $ 7.00 - $42.00      $ 42.00        5.05  
  

 

 

   

The Company issued warrants as part of its offerings in 2013, 2015, 2016 and 2018 as well as part of its issuance of convertible notes in 2016 and 2018 and an exchange agreement in 2017. A summary of warrant activity is as follows:

 

     Warrants     Exercise Price per
Share
     Weighted Average
Exercise Price
     Weighted Average
Remaining Life
(Years)
 

Outstanding at January 1, 2017

     1     $

$

197,225,000 -

13,798,400,000

 

 

   $ 637,218,564        5.59  

Warrants issued

     21          1,610,000     

Warrants exercised

     (1        2,954,000     

Warrants expired

     (1        591,675,000     
  

 

 

         

Outstanding at December 31, 2017

     20     $

$

857,500 -

13,798,400,000

 

 

   $ 1,098,300        4.88  

Warrants issued in Feb 2018 registered direct offering

     1,538          6,531     

Warrants issued with convertible notes

     98,814          126     

Exercised

     (6,536        1,252     

Expired

     (1        13,798,400,000     
  

 

 

         

Outstanding at December 31, 2018

     93,835     $ 7.00 - $7,000      $ 150.67        5.75