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Warrants
 3 Months Ended
Mar. 31, 2025
Warrants  
Warrants

6. Warrants

 

As of December 31, 2024, there were warrants outstanding to purchase 535,830 shares of common stock with a contingent cash redemption feature requiring liability classification with an aggregate fair value of $67 thousand.

 

As of March 31, 2025, the Company remeasured the fair value of the warrant liability at $1 thousand and recorded a corresponding gain of $66 thousand in the Company’s consolidated statements of operations for the three months ended March 31, 2025.

 

There were no warrants issued, exercised or expired during the three months ended March 31, 2025. The following represents a summary of the warrants outstanding and exercisable at March 31, 2025, and the balance sheet classification as of that date:

 

       Adjusted      Number of Shares
Underlying Warrants		 
Issue Date  Classification   Exercise Price   Expiration Date  Outstanding   Exercisable 
December 17, 2021   Equity   $14.99   December 15, 2026   36,538    36,538 
December 17, 2021   Equity   $13.99   December 17, 2026   281,047    281,047 
February 16, 2021   Equity   $49.99   February 11, 2026   65,003    65,003 
August 7, 2020   Liability   $35.99   July 14, 2025   90,743    90,743 
August 7, 2020   Liability   $44.99   July 14, 2025   10,939    10,939 
July 23, 2020   Liability   $35.99   July 14, 2025   77,502    77,502 
July 13, 2020   Liability   $44.99   July 14, 2025   21,846    21,846 
July 13, 2020   Liability   $35.99   July 14, 2025   334,800    334,800 
June 15, 2015   Equity   $1,509.99   Five years after milestone achievement   15,955    - 
Total                934,373    918,418