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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2023
Stockholders' Equity Note [Abstract]  
Schedule of stock by class As of December 31, 2023, the Company has designated the following preferred stock:
Designated Preferred SharesDecember 31, 2023
Series A4,200 
Series B2,360 
Series C590 
Series D10,000 
Series E40,000 
Series E-112,960 
Series F-124,900 
Series F-224,900 
Series F-334,860 
Series F-424,900 
Total179,670 
Schedule of compensation plans
The following table sets forth information as of December 31, 2023 with respect to compensation plans (including individual compensation arrangements) under which shares of common stock of the Company are authorized for issuance.
Plan category
Number of
securities to be
issued upon
exercise of
outstanding options,
warrants and rights
(a)
Weighted-average
exercise price of
outstanding
options, warrants
and rights
(b)
Number of securities
remaining available for
future issuance under
equity compensation plans
(excluding securities
reflected in column (a))
(c)
Equity compensation plans approved by security holders3,286,233$7.69 1,837,509
Equity compensation plans not approved by security holders (1)
896,999$9.93 623,000
Total4,183,232$8.17 2,460,509
(1)Includes (a) stock options for an aggregate of 499 shares of common stock issued under the Company’s 2019 Equity Incentive Plan, which allows for grants in the form of incentive stock options, non-qualified stock options, stock units, stock awards, stock appreciation rights, and other stock-based awards to the Company’s officers, directors, employees, consultants, and advisors, including options to purchase shares of common stock at exercise prices not less than 100% of fair value on the dates of grant. As of November 2, 2020, no additional grants may be made under this plan, which has been superseded by the Company’s 2020 Omnibus Equity Incentive Plan; however, outstanding awards granted under this plan will remain outstanding and continue to be administered in accordance with the terms of this plan and the applicable award agreements; (b) pursuant to an employment agreement dated as of August 31, 2020 between the Company and Gerard Michel, the Company’s Chief Executive Officer, on October 1, 2020, a non-qualified and non-plan stock option “inducement award” to purchase 498,000 shares of the Company’s common stock in reliance on Nasdaq Rule 5635(c)(4) pursuant to the terms of a stock option award agreement between the Company and Mr. Michel; and (c) new hire inducement awards to purchase 398,500 shares of the Company’s common stock in reliance on Nasdaq Rule 5635(c)(4) pursuant to the terms of a stock option award agreement between the Company and 12 employees hired during 2022 and 2023.
Summary of valuation assumptions
The Company values stock options using the Black-Scholes option pricing model and used the following assumptions during the reporting periods:
 Years Ended December 31
 20232022
Expected terms (years)
0.8 - 5.9
0.7 - 8.4
Expected volatility
96.4% -172.8%
166.4.% - 180.3%
Risk-free interest rate
3.9% - 5.4%
1.2% - 4.4%
Expected dividends0.00%0.00%
Summary of stock option activity
The following is a summary of stock option activity for the year ended December 31, 2023:
Number of Options
Weighted Average
Exercise Price Per Share
Weighted Average Grant Date Fair Value Per Share
Weighted Average
Remaining
Contractual Term
(in years)
Aggregate Intrinsic
Value
Outstanding at January 1, 20232,235,052$10.30 $9.40 7.7$36 
Granted2,218,7575.97 5.62 9.1
Exercised(819)4.67 4.51 $
Expired(141,059)8.40 5.76 
Cancelled/Forfeited(128,699)7.02 6.74 
Outstanding at December 31, 20234,183,232$8.17 $7.60 8.3$147 
Exercisable at December 31, 20232,252,556$9.93 $9.15 7.6$24 
Unvested at December 31, 20231,930,676$6.12 $5.79 9.1$123 
Summary of stock option shares outstanding and exercisable
The following table summarizes information for stock option shares outstanding and exercisable at December 31, 2023:
  Options Exercisable
Range of Exercise PricesOutstanding Number of
Options
Weighted Average
Remaining Option Term
(in years)
Number of Options
2.83 - $51.50
4,182,7338.32,252,057
51.50+
4995.1499
 4,183,2328.32,252,556
Summary of recognized share-based compensation cost
The following is a summary of the share-based compensation expense in the statement of operations for the twelve months ended December 31, 2023:
 Years Ended
December 31,
 20232022
Selling, general and administrative$4,944 $5,282 
Research and development2,837 2,449 
Cost of goods sold370 210 
Total$8,151 $7,941 
Summary of warrant activity
The following is a summary of common stock warrant activity for the year ended December 31, 2023:
 WarrantsWeighted Average
Exercise Price
Weighted Average
Remaining Life
(in years)
Outstanding at January 1, 20235,153,291$7.01  
Warrants issued81,8482.94  
Warrants exercised(569,938)$0.26 
Outstanding at December 31, 20234,665,201$7.76 1.6
Exercisable at December 31, 20234,665,201$7.76 1.6
The following is a summary of preferred stock warrant activity for the year ended December 31, 2023:
WarrantsWeighted Average
Exercise Price
Weighted Average
Remaining Life
(in years)
Outstanding at January 1, 2023$— 
Warrants issued59,7591,000.00 
Warrants exercised(34,859)$1,000.00 
Outstanding at December 31, 202324,900$1,000.00 2.3
Exercisable at December 31, 202324,900$1,000.00 2.3
Schedule of information related to stock warrants
The following table presents information related to stock warrants at December 31, 2023:
 Warrants Exercisable
Range of Exercise PricesOutstanding Number
of Warrants
Weighted Average
Remaining Warrant
Term (in years)
Number of
Warrants
$0.011,037,7923.21,037,792
$6.0016,6662.216,666
$10.003,610,7431.23,610,743
 4,665,2011.64,665,201