v3.23.3

Stockholders’ Equity and Stock-Based Compensation (Tables)

9 Months Ended

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

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration