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Stockholders' Equity | 3 Months Ended
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Mar. 31, 2022
Stockholders' Equity [Abstract] |
Stockholders' Equity | 9. Stockholders’ equity Recent issuances On February 8, 2021, the Company completed a public offering of 14,950,000 Common Shares for net proceeds of approximately $119.1 million. Warrants At March 31, 2022 and December 31, 2021, there were 418,441 warrants outstanding at an exercise price of $3.25, all of which were issued in conjunction with a public equity offering in January 2018. All remaining warrants have an expiration date of January 17, 2023. Share-based compensation At March 31, 2022, the Company has reserved 873,180 Common Shares issuable upon the exercise of outstanding stock options awarded under its 2006 and 2016 Equity Incentive Plans. An additional 465,984 Common Shares are reserved for future award and issuance under the 2016 Equity Incentive Plan. Restricted stock A summary of the Company’s restricted Common Shares for the three months ended March 31, 2022, is as follows:
| Shares |  | Weighted ‎average grant ‎date fair value
Unvested at December 31, 2021 | 65,100 |  | $ | 4.10
Granted | 240,777 |  |  | 1.52
Vested | (121,232) |  |  | 2.14
Forfeited | — |  |  | —
Unvested at March 31, 2022 | 184,645 |  | $ | 2.03
During the three months ended March 31, 2022 and 2021, the Company expensed $168 thousand and $107 thousand, respectively related to the restricted stock awards. At March 31, 2022, the balance of unearned share-based compensation to be expensed in future periods related to the restricted stock awards is $347 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 2 years. Stock options The Company’s option activity is summarized as follows:
| Number of ‎options |  | Weighted ‎average ‎exercise price
Outstanding at December 31, 2021 | 663,425 |  | $ | 4.31
Issued | 209,755 |  |  | 1.55
Exercised | — |  |  | —
Forfeited | — |  |  | —
Expired | — |  |  | —
Outstanding at March 31, 2022 | 873,180 |  | $ | 3.65
Exercisable at March 31, 2022 | 624,075 |  | $ | 4.31
Unless otherwise indicated, options issued to employees, members of the Board of Directors, and non-employees are vested daily over one to three years and are exercisable for a term of ten years from the date of issuance. The fair values of stock option grants to employees and members of the Board of Directors during 2022 were measured on the date of grant using Black-Scholes, with the following weighted average assumptions:
|  | 2022
Expected volatility |  | 103%
Risk free interest rate |  | 2.10%
Expected dividend yield |  | 0%
Expected life (in years) |  | 5
The weighted average fair value of stock options granted during the three months ended March 31, 2022 was $1.12. The total intrinsic value of all options outstanding was $73 thousand and $18 thousand at March 31, 2022, and December 31, 2021, respectively. The total intrinsic value of exercisable options was $1 thousand and $11 thousand at March 31, 2022 and December 31, 2021, respectively. The following table summarizes information about options outstanding and exercisable at March 31, 2022:
Weighted ‎average exercise ‎price of outstanding ‎options |  | Number of ‎options ‎outstanding |  | Weighted ‎average remaining ‎estimated life ‎(in years) |  | Number of ‎options ‎exercisable |
$1.52 - $2.50 |  | 732,288 |  | 7.9 |  | 503,779 |
$5.44 - $6.72 |  | 55,402 |  | 8.2 |  | 34,789 |
$7.50 - $10.80 |  | 16,403 |  | 2.1 |  | 16,403 |
$14.20 - $23.40 |  | 69,087 |  | 4.0 |  | 69,087 |
|  | 873,180 |  |  |  | 624,058 |
Total share-based compensation on stock options amounted to $43 thousand and $22 thousand for the three months ended March 31, 2022 and 2021, respectively. At March 31, 2022, the balance of unearned share-based compensation to be expensed in future periods related to unvested share-based awards was $374 thousand. The period over which the unearned share-based compensation is expected to be earned is approximately 2 years.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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