XML 33 R25.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Summary of Significant Accounting Policies (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Accounting Policies [Abstract] |
Schedule of Diluted Net (Loss) Income Per Common Share | The Company calculates net (loss) income per common share in accordance with ASC 260, Earnings Per Share. Basic net (loss) income per common share for the years ended December 31, 2024 and 2023 was determined by dividing net (loss) income 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 (loss) income per common share for the years ended December 31, 2024 and 2023 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. Diluted net (loss) income per common share for the years ended December 31, 2024 and 2023 was determined as follows (in thousands, except share and per share amounts):
| Years Ended December 31, |
| 2024 |  |  | 2023 |
Net (loss) income allocated to common shares | $ | (21,288 | ) |  | $ | 67,041 |
Weighted average common shares outstanding – basic |  | 48,513,073 |  |  |  | 47,852,833 |
Dilutive effect of restricted stock units |  | — |  |  |  | 537,749 |
Weighted average common shares outstanding – diluted |  | 48,513,073 |  |  |  | 48,390,582 |
Net (loss) income per share – diluted | $ | (0.44 | ) |  | $ | 1.39 |
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 (loss) income per share for the years ended December 31, 2024 and 2023, as the result would be anti-dilutive or the performance contingencies have not been met:
|  | Years Ended December 31, |
|  | 2024 |  |  | 2023 |
Outstanding stock options |  |  | 2,905,029 |  |  |  | 1,867,795 |
Outstanding restricted stock units |  |  | 3,120,374 |  |  |  | 400,000 |
Warrants to purchase common stock associated with December 2020 public offering - Series 2 |  |  | — |  |  |  | 6,800,000 |
Warrants to purchase common stock associated with April 2022 Public Offering |  |  | 15,000,000 |  |  |  | 15,000,000 |
Common stock associated with the March 2019 Notes |  |  | 1,138,200 |  |  |  | 1,138,200 |
Warrants to purchase common stock associated with Loan Agreement |  |  | 198,811 |  |  |  | 198,811 |
Warrants to purchase common stock associated with Danforth |  |  | 50,000 |  |  |  | 50,000 |
Total |  |  | 22,412,414 |  |  |  | 25,454,806 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482689/260-10-45-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482635/260-10-55-52 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareDilutedByCommonClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration