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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

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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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