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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Summary of Warrants Issued and Outstanding

The following table summarizes the warrants issued and outstanding as of December 31, 2019:

 

Warrants Issued and Outstanding as of December 31, 2019

 

 

 

Date of

 

Exercise

 

 

Shares of

 

Description

 

Issuance

 

Expiration

 

Price

 

 

Common Stock

 

Exercisable warrants

 

 

 

 

 

 

 

 

 

 

 

 

Warrants

 

3/30/2016

 

3/30/2021

 

$

3.88

 

 

 

521,060

 

Total warrants issued and outstanding

 

 

 

 

 

 

521,060

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Stock Option Activity

The following table summarizes the stock option activity from January 1, 2018 through December 31, 2019:

 

 

 

Stock Options

 

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Exercise

 

Average

 

 

 

Number

 

 

Price Per

 

Exercise Price

 

 

 

of Shares

 

 

Share

 

Per Share

 

Outstanding at January 1, 2018

 

 

1,389,816

 

 

$1.17 — $26.00

 

$

8.39

 

Granted

 

 

420,500

 

 

$1.65  —  $2.62

 

$

2.38

 

Canceled/Forfeited

 

 

(37,250

)

 

$2.39 — $23.20

 

$

5.98

 

Outstanding at December 31, 2018

 

 

1,773,066

 

 

$1.17 — $26.00

 

$

7.02

 

Granted

 

 

1,074,515

 

 

$1.51  —  $3.12

 

$

1.93

 

Canceled/Forfeited

 

 

(402,128

)

 

$1.51 — $26.00

 

$

15.64

 

Outstanding at December 31, 2019

 

 

2,445,453

 

 

$1.17 — $23.20

 

$

3.37

 

Summary of Stock Option Outstanding

The following additional information applies to options outstanding at December 31, 2019:

 

Range of

Exercise

Prices

 

Outstanding at

December 31, 2019

 

 

Weighted-

Average

Remaining

Contractual

Life

 

 

Weighted-

Average

Exercise

Price

 

 

Exercisable at

December 31, 2019

 

 

Weighted-

Average

Exercise

Price

 

$1.17 - $23.20

 

 

2,445,453

 

 

 

7.6

 

 

$

3.37

 

 

 

1,209,087

 

 

$

4.47

 

 

The following additional information applies to options outstanding at December 31, 2018:

 

Range of

Exercise

Prices

 

Outstanding at

December 31, 2018

 

 

Weighted-

Average

Remaining

Contractual

Life

 

 

Weighted-

Average

Exercise

Price

 

 

Exercisable at

December 31, 2018

 

 

Weighted-

Average

Exercise

Price

 

$1.17 - $26.00

 

 

1,773,066

 

 

 

6.9

 

 

$

7.02

 

 

 

999,999

 

 

$

10.05

 

 

Schedule of Weighted-Average Estimated Value of Employee Stock Options Granted

The weighted-average estimated value of employee stock options granted during the years ended December 31, 2019 and 2018 were estimated using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions:

 

 

 

Years Ended December 31,

 

 

 

2019

 

 

2018

 

Expected volatility

 

 

76

%

 

 

85

%

Risk-free interest rate

 

 

2.37

%

 

 

2.42

%

Expected dividends

 

 

0.00

%

 

 

0.00

%

Expected term in years

 

 

5.8

 

 

 

5.9