Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2020

Summary of Significant Accounting Policies

During the nine months ended September 30, 2020, there have been no changes to the Company’s significant accounting policies as described in its Annual Report on Form 10-K for the fiscal year ended December 31, 2019.

Net Loss Per Share

Basic and diluted net loss per common share is determined by dividing net loss applicable to common stockholders by the weighted-average common shares outstanding during the period. Preferred dividends are included in net loss attributable to common stockholders in the computation of basic and diluted earnings per share. Shares used in calculating diluted net loss per common share exclude as anti-dilutive the following share equivalents:

The following table sets forth the computation of basic and diluted earnings per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Numerator:


Net loss used for basic and diluted loss per share	$	(4,502,591)	$	(4,147,609)	$	(15,994,289)	$	(12,458,072)

Denominator:
Weighted-average shares used to compute basic and diluted net loss per share	23,341,218		6,024,679		15,941,665		5,180,221



Net loss per share attributable to common stockholders:
Basic and diluted	$	(0.19)	$	(0.69)	$	(1.00)	$	(2.40)

The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their effect was anti-dilutive:


	September 30,
	2020	2019
Options to purchase Common Stock	1,920,706	1,016,426
Warrants to purchase Common Stock	7,373,351	4,870,076
Restricted Stock Units	991	14,161
Series A Convertible Preferred Stock	877	877

Series E Convertible Preferred Stock	3,548,459	—
	12,844,384	5,901,540

Recently Adopted Accounting Pronouncement

In August 2018, the FASB issued ASU No. 2018-13 ("ASU 2018-13"), Changes to the Disclosure Requirements for Fair Value Measurement. This ASU eliminates, adds and modifies certain disclosure requirements for fair value measurements as part of its disclosure framework project. The standard is effective for all entities for financial statements issued for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. The Company has prospectively adopted ASU 2018-13 as of January 1, 2020 for periods presented after adoption. The adoption of ASU 2018-13 did not have a material impact on the Company's financial statements.