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Common Stock (Tables) | 12 Months Ended
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Dec. 31, 2022
Equity [Abstract] |
Summary of Fair Value of Option Awards | The estimated fair value of stock options granted in the respective periods was determined using the Black-Scholes option pricing model using the following weighted average assumptions:
|  | 2022 |  |  | 2021 |  |
Risk-free interest rates |  |  | 1.65 | % |  |  | 0.66 | % |
Expected dividend yield |  |  | 0 | % |  |  | 0 | % |
Expected life |  | 5.80 years |  |  | 6.00 years |  |
Expected volatility |  |  | 122.80 | % |  |  | 110.10 | % |
Forfeiture rate |  |  | 0 | % |  |  | 0 | % |
Summary of Share-Based Compensation Expense | The results for the periods set forth below included stock-based compensation expense in the following expense categories of the consolidated statements of loss (in thousands):
|  | Year ended |
|  | December 31, |
|  | 2022 |  |  | 2021 |
Research and development |  | $ | 1,117 |  |  | $ | 685 |
General and administrative |  |  | 2,153 |  |  |  | 1,502 |
Total stock-based compensation |  | $ | 3,270 |  |  | $ | 2,187 |
Summary of Stock Options Activity | Stock option transactions and the number of stock options outstanding are summarized below:
|  | Number of |  |  | Weighted |
|  | Optioned |  |  | Average |
|  | Common |  |  | Exercise |
|  | Shares |  |  | Price |
Balance, January 1, 2022 |  |  | 522,090 |  |  | $ | 26.11 |
Granted |  |  | 300,450 |  |  |  | 7.83 |
Expired |  |  | (25 | ) |  |  | 28,522.56 |
Balance, December 31, 2022 |  |  | 822,515 |  |  | $ | 18.57 |
Summary of Stock Options Outstanding Regarding Number of Common Shares Issuable upon Exercise of Outstanding Options | (1) Number of common shares issuable upon exercise of outstanding options:
|  |  |  |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  |  |  |  |  | Average |
|  |  |  |  |  |  |  |  |  | Remaining |
|  |  |  |  |  | Weighted- |  |  | Contractual |
|  |  |  |  |  | Average |  |  | Life |
Exercise Prices |  | Number of Options |  |  | Exercise Price |  |  | (in years) |
$5.07 - $7.27 |  |  | 84,200 |  |  | $ | 6.59 |  |  |  | 9.11 |
$7.28 - $7.89 |  |  | 35,000 |  |  |  | 7.42 |  |  |  | 8.87 |
$7.90 - $8.43 |  |  | 226,250 |  |  |  | 8.26 |  |  |  | 9.01 |
$8.44 - $10.78 |  |  | 114,750 |  |  |  | 10.23 |  |  |  | 7.90 |
$10.79 - $11.65 |  |  | 74,880 |  |  |  | 11.20 |  |  |  | 7.08 |
$11.66 - $12.60 |  |  | 5,650 |  |  |  | 12.10 |  |  |  | 8.20 |
$12.61 - $20.74 |  |  | 232,750 |  |  |  | 13.09 |  |  |  | 8.07 |
$20.75 - $39.80 |  |  | 14,766 |  |  |  | 28.40 |  |  |  | 6.08 |
$39.81 - $59.30 |  |  | 18,747 |  |  |  | 51.20 |  |  |  | 5.72 |
$59.31 - $28,952.00 |  |  | 15,522 |  |  |  | 391.78 |  |  |  | 5.31 |
|  |  | 822,515 |  |  | $ | 18.57 |  |  |  | 8.21 |
Summary of Stock Options Outstanding Regarding Number of Common Shares Issuable upon Exercise of Vested Options | (2) Number common shares issuable upon exercise of vested options:
|  |  |  |  |  |  |  |  |  | Weighted- |
|  |  |  |  |  |  |  |  |  | Average |
|  |  |  |  |  |  |  |  |  | Remaining |
|  |  |  |  |  | Weighted- |  |  | Contractual |
|  |  |  |  |  | Average |  |  | Life |
Exercise Prices |  | Number of Options |  |  | Exercise Price |  |  | (in years) |
$5.07 - $7.27 |  |  | 10,295 |  |  | $ | 7.07 |  |  |  | 8.67 |
$7.28 - $7.89 |  |  | 6,250 |  |  |  | 7.51 |  |  |  | 8.70 |
$7.90 - $8.43 |  |  | — |  |  |  | — |  |  |  | — |
$8.44 - $10.78 |  |  | 65,750 |  |  |  | 10.13 |  |  |  | 7.92 |
$10.79 - $11.65 |  |  | 54,653 |  |  |  | 11.20 |  |  |  | 7.08 |
$11.66 - $12.60 |  |  | 3,296 |  |  |  | 12.10 |  |  |  | 8.20 |
$12.61 - $20.74 |  |  | 111,526 |  |  |  | 13.09 |  |  |  | 8.07 |
$20.75 - $39.80 |  |  | 14,543 |  |  |  | 28.40 |  |  |  | 6.08 |
$39.81 - $59.30 |  |  | 18,747 |  |  |  | 51.20 |  |  |  | 5.72 |
$59.31 - $28,952.00 |  |  | 15,490 |  |  |  | 392.45 |  |  |  | 5.30 |
|  |  | 300,550 |  |  | $ | 34.44 |  |  |  | 7.51 |
Summary of Restricted Stock Unit Award Activity | The following table summarizes our restricted stock unit award activity during the year ended December 31, 2022:
|  |  |  |  |  | Weighted |
|  | Number |  |  | Average |
|  | of |  |  | Grant Date |
|  | Shares |  |  | Fair Value |
Balance, January 1, 2022 |  |  | 53,250 |  |  | $ | 13.09 |
Granted |  |  | 226,250 |  |  |  | 8.26 |
Released |  |  | (26,625 | ) |  |  | 13.09 |
Balance, December 31, 2022 |  |  | 252,875 |  |  | $ | 8.77 |
Summary of Outstanding Warrants | The following is a summary of outstanding warrants to purchase common stock at December 31, 2022:
|  | Total |  |  |  |  |  |  |
|  | Outstanding |  |  | Exercise |  |  |
|  | and |  |  | price per |  |  |
|  | Exercisable |  |  | Share |  |  | Expiration Date
(1) Warrants issued in September 2017 financing |  |  | 411 |  |  | $ | 699.2000 |  |  | March 2023
(2) Warrants issued in June 2018 financing |  |  | 114,100 |  |  | $ | 80.0000 |  |  | June 2023
(3) Warrants issued in October 2018 financing |  |  | 31,215 |  |  | $ | 62.8900 |  |  | October 2023
(4) Warrants issued in May 2019 financing |  |  | 60,000 |  |  | $ | 90.0000 |  |  | May 2025
(5) Warrants issued in December 2019 financing |  |  | 609,258 |  |  | $ | 2.3100 |  |  | December 2024
(6) Warrants issued in April 2020 financing |  |  | 182,461 |  |  | $ | 7.2400 |  |  | April 2025
(7) Warrants issued in April 2020 financing |  |  | 24,375 |  |  | $ | 7.3200 |  |  | April 2025
(8) Warrants issued in April 2020 financing |  |  | 25,270 |  |  | $ | 7.5900 |  |  | April 2025
(9) Pre-Funded Warrants issued in August 2020 financing |  |  | 142,857 |  |  | $ | 0.0010 |  |  | *
(10) Warrants issued in December 2020 financing |  |  | 50,000 |  |  | $ | 8.7500 |  |  | December 2025
(11) Warrants issued in November 2022 financing |  |  | 4,093,141 |  |  | $ | 4.5000 |  |  | November 2029
Computation of Basic and Diluted Net Loss Attributable to Common Shareholders Per Share | The following table presents the computation of basic and diluted net loss attributable to common stockholders per share (in thousands, except per share and share amounts):
|  | Years ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Numerator |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (42,350 | ) |  | $ | (33,152 | ) |  | $ | (14,730 | )
Denominator |  |  |  |  |  |  |  |  |  |  |  |
Weighted average number of common shares outstanding |  |  | 10,593,034 |  |  |  | 8,119,836 |  |  |  | 2,718,909 |
Basic and diluted net loss per common share |  | $ | (4.00 | ) |  | $ | (4.08 | ) |  | $ | (5.42 | )

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