v3.23.3

Stockholders’ Equity and Stock-Based Compensation (Tables) | 9 Months Ended
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Sep. 30, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Warrant Activity | A summary of the Company’s warrant activity during the nine months ended September 30, 2023 was as follows:
| Shares of Stock under Warrants |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at January 1, 2023 | 436,000 |  |  | $ | 59.60 |  |  | 0.76 |  | $ | 273,000 |
Granted | — |  |  | — |  |  | — |  |  | — |
Exercised | — |  |  | — |  |  | — |  |  | — |
Canceled | (396,000) |  |  | — |  |  | — |  |  | — |
Outstanding at September 30, 2023 | 40,000 |  |  | $ | 653.98 |  |  | 1.25 |  | $ | — |
Schedule of Stock Option Activity | A summary of the Company’s stock option activity during the nine months ended September 30, 2023 was as follows:
| Shares of Stock under Stock Options |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding at January 1, 2023 | 2,402,000 |  |  | $ | 32.80 |  |  | 8.50 |  | $ | 2,068,000 |
Granted | 1,427,000 |  |  | 12.23 |  |  | — |  |  |
Exercised | (4,000) |  |  | 5.49 |  |  | — |  |  | 25,000 |
Canceled | (298,000) |  |  | 28.85 |  |  | — |  |  |
Outstanding at September 30, 2023 | 3,527,000 |  |  | $ | 24.86 |  |  | 8.52 |  | $ | 6,000 |
Vested and exercisable at September 30, 2023 | 1,308,000 |  |  | $ | 31.94 |  |  | 7.75 |  | $ | — |
Schedule of Recognized Stock-Based Compensation Expense | The Company recognized stock-based compensation expense for the periods presented as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
2023 |  | 2022 |  | 2023 |  | 2022
Cost of product revenue | $ | 139,000 |  |  | $ | — |  |  | $ | 395,000 |  |  | $ | — |
Cost of service and other revenue | 48,000 |  |  | — |  |  | 136,000 |  |  | $ | — |
Research and development | 1,249,000 |  |  | 3,606,000 |  |  | 3,907,000 |  |  | $ | 10,401,000 |
General and administrative | 2,556,000 |  |  | 2,453,000 |  |  | 7,368,000 |  |  | 6,537,000 |
Total stock-based compensation expense | $ | 3,992,000 |  |  | $ | 6,059,000 |  |  | $ | 11,806,000 |  |  | $ | 16,938,000 |
Schedule of Weighted-Average Assumptions in Black -Scholes Option Pricing Model | The weighted-average assumptions used in the Black-Scholes option pricing model to determine the fair value of the employee stock option grants during the periods presented were as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
2023 |  | 2022 |  | 2023 |  | 2022
Risk-free interest rate | 4.3 | % |  | 3.1 | % |  | 4.0 | % |  | 2.2 | %
Expected volatility | 78.9 | % |  | 71.0 | % |  | 75.2 | % |  | 70.3 | %
Expected term (in years) | 6.1 |  | 6.1 |  | 5.9 |  | 6.0
Expected dividend yield | 0.0 | % |  | 0.0 | % |  | 0.0 | % |  | 0.0 | %
Schedule of Restricted Stock Units and Performance Stock Units | The following table summarizes RSU activity during the nine months ended September 30, 2023:
| Stock Units |  | Weighted- Average Grant Date Fair Value per Share
Outstanding at January 1, 2023 | 10,000 |  |  | $ | 47.40 |
Granted | 287,000 |  |  | 14.40
Released | (10,000) |  |  | 47.40 |
Forfeited | (21,000) |  |  | 16.30 |
Outstanding at September 30, 2023 | 266,000 |  | $ | 16.30
The following table summarizes PSU activity during the nine months ended September 30, 2023:
| Stock Units |  | Weighted- Average Grant Date Fair Value per Share
Outstanding at January 1, 2023 | 29,000 |  | $ | 47.4 |
Granted | — |  | —
Released | — |  | —
Forfeited | — |  | —
Outstanding at September 30, 2023 | 29,000 |  | $ | 47.4

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-1 + Details
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