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Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2024

Accounting Policies [Abstract]

Schedule of Diluted Net (Loss) Income Per Common Share

The Company calculates net income (loss) per common share in accordance with ASC 260, Earnings Per Share. Basic net income (loss) per common share for the three months ended March 31, 2024 and 2023 was determined by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding during the period. Per ASC 260, Earnings Per Share, the weighted average number of common shares outstanding utilized for determining the basic net income (loss) per common share for the three months ended March 31, 2024 includes the outstanding prefunded warrants to purchase 7,516,267 and 3,200,000 shares of common stock issued in the April 2022 public offering and December 2020 public offering, respectively. The outstanding prefunded warrants to purchase 11,303,667 and 3,200,000 shares of common stock issued in the April 2022 public offering and December 2020 public offering were included in the three months ended March 31, 2023, respectively. Diluted net income (loss) per common share for the three months ended March 31, 2024 and 2023 was determined as follows (in thousands, except share and per share amounts):

	Three Months Ended March 31,
	2024				2023
Net income (loss) allocated to common shares	$	411			$	(33,876	)
Weighted average common shares outstanding – basic		48,245,559				47,757,246
Dilutive effect of restricted stock units		319,492				—
Weighted average common shares outstanding – diluted		48,565,051				47,757,246
Net income (loss) per share – diluted	$	0.01			$	(0.71	)

Summary of Antidilutive Securities Excluded from Computation of Weighted Average Common Stock and Outstanding Restricted Stock Units

The following potentially dilutive shares of common stock and outstanding restricted stock units that contain certain performance contingencies have not been included in the computation of diluted net income (loss) per share for the three months ended March 31, 2024 and 2023, as the result would be anti-dilutive or the performance contingencies have not been met:

	Three Months Ended March 31,
	2024				2023
Outstanding stock options		2,716,602				1,931,389
Outstanding restricted stock units		600,000				2,214,490
Warrants to purchase common stock associated with December 2020 public offering - Series 2		6,800,000				6,800,000
Warrants to purchase common stock associated with April 2022 public offering		15,000,000				15,000,000
Warrants to purchase common stock associated with Loan Agreement		198,811				198,811
Common stock associated with March 2019 Notes		1,138,200				1,138,200
Warrants to purchase common stock associated with Danforth		50,000				50,000
Total		26,503,613				27,332,890

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Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

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Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share.

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