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Loans and Convertible Notes Payable (Tables)

9 Months Ended

Aug. 06, 2021

Sep. 30, 2022

Debt Disclosure [Abstract]

Summary of Loans and Convertible Notes Payable

		September 30, 2022												December 31, 2021
(in thousands)		Gross				Discount				Net				Gross				Discount				Net
Loan - Avenue [1]			12,638				(1,167	)			11,471				12,638				(1,645	)			10,993
Loan - Avenue [1] - Less Current Portion			(7,140	)			659				(6,481	)			(714	)			93				(621	)
Total - Loans Payable, Non-Current		$	5,498			$	(508	)		$	4,990			$	11,924			$	(1,552	)		$	10,372
Convertible Note Payable - Rosalind			2,000				—				2,000				2,000				—				2,000
Convertible Portion of Loan Payable - Avenue			3,000				(263	)			2,737				3,000				(361	)			2,639
Total - Convertible Notes Payable - Non-Current		$	5,000			$	(263	)		$	4,737			$	5,000			$	(361	)		$	4,639

[1]  The gross amount includes the 4.25% final payment of $638,000.

Summary of Remaining Maturities of Company's Loan and Convertible Note Payables

Remaining maturities of the Company’s loan and convertible note payables are as follows (in thousands):

						Convertible
		Loans				Notes				Total
Year ended December 31, 2022		$	714			$	—			$	714
Year ended December 31, 2023			8,571				—				8,571
Year ended December 31, 2024			3,353				5,000				8,353
Total		$	12,638			$	5,000			$	17,638

Summary of Avenue Warrant Valued Using the Black-Scholes Option Pricing Method

The Avenue Warrant was valued at issuance at $1.3 million using the Black-Scholes option pricing method using the following assumptions:

		August 6, 2021
Contractual term (years)			5.07
Expected volatility			187.0	%
Risk-free interest rate			0.77	%
Expected dividends			0.00	%

The Company values stock options using the Black-Scholes option pricing model and used the following assumptions:

		Nine months ended September 30,
		2022		2021
Expected terms (years)		0.7 - 8.4		5.1 - 6.3
Expected volatility		166.4% - 180.3%		178.3% - 181.3%
Risk-free interest rate		1.8% - 2.9%		0.7% - 1.1%
Expected dividends		0.00%		0.00%

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