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Warrants and Options (Tables)

12 Months Ended

Dec. 31, 2024

Warrants and Rights Note Disclosure [Abstract]

Summary of Warrants Issued to Purchase Common Stock

The Company issued the following warrants to purchase shares of its common stock, which are outstanding as of December 31, 2024 and 2023, respectively. These warrants are exercisable any time at the option of the holder until their expiration date.

		Issuance Date		Term		Exercise Price Per Share				Exercised during the Year Ended December 31, 2023				Outstanding at December 31, 2023				Exercised during the Year Ended December 31, 2024				Outstanding at December 31, 2024
March 2023 Pre-Funded Warrants		Mar-23		perpetual		$ —					(425,834	)			75,000				(75,000	)		—
December 2022 Service and Performance Warrants (1)		Dec-22		5 years		$	11.20			—					1,000			—					1,000
October 2022 Service and Performance Warrants (1)		Oct-22		5 years		$	16.00			—					1,000			—					1,000
August 2022 Pre-Funded Warrants		Aug-22		perpetual		$ —					(56,813	)		—				—				—
January 2021 Placement Agent Warrants		Jan-21		5.5 years		$	159.60			—					9,846			—					9,846
December 2020 Warrants (2)		Dec-20		5.5 years		$	9.00			—					16,367			—					16,367
December 2020 Warrants		Dec-20		5.5 years		$	120.00			—					49,100			—					49,100
December 2020 Placement Agent Warrants		Dec-20		5 years		$	152.80			—					3,274			—					3,274
July 2020 Warrants (2)		Jul-20		5.5 years		$	9.00			—					16,036			—					16,036
July 2020 Placement Agent Warrants		Jul-20		5.5 years		$	198.80			—					802			—					802
May 2020 Warrants (2)		May-20		5 years		$	9.00			—					9,946			—					9,946
May 2020 Warrants		May-20		5 years		$	191.20			—					24,863			—					24,863
May 2020 Placement Agent Warrants		May-20		5 years		$	245.20			—					1,741			—					1,741
September 2019 Placement Agent Warrants (3)		Sep-19		5 years		$	379.20			—					1,649			—				—
June 2019 Placement Agent Warrants (3)		Jun-19		5 years		$	251.60			—					1,862			—				—
April 2019 Service and Performance Warrants (1)(3)		Apr-19		5 years		$	247.20			—					3,629			—				—
January 2021 Warrants (2)		Jan-21		5.5 years		$	9.00			—					7,831			—					7,831
January 2021 Warrants		Jan-21		5.5 years		$	125.20			—					90,629			—					90,629
September 2019 Warrants (2)		Sep-19		5.5 years		$	9.00			—					9,892			—					9,892
September 2019 Warrants		Sep-19		5.5 years		$	300.80			—					6,594			—					6,594
June 2019 Warrants		Jun-19		5.5 years		$	200.00			—					10,896			—					10,896
Total											(482,647	)			341,957				(75,000	)			259,817

(1) The Company issued service and performance warrants (“Service and Performance Warrants”) in connection with professional services agreements with non-affiliated third party entities.

(2) These warrants were repriced as part of the March 2023 Private Placement offering.

(3) These warrants expired during the year ended December 31, 2024.

Summary of Key Terms and Activity of Liability Classified Preferred Investment Options

The key terms and activity of the liability classified preferred investment options are summarized as follows:

		Issuance Date		Term		Exercise Price Per Share				Exercised during the Year Ended December 31, 2023				Outstanding at December 31, 2023				Exercised during the Year Ended December 31, 2024				Outstanding at December 31, 2024
March 2023 Options - Series A		March 2023		5 years		$	9.00				—				666,334				—				666,334
March 2023 Options - Series B		March 2023		1.5 years		$	9.00				—				666,334				—				—
March 2023 Placement Agent Options		March 2023		5 years		$	11.25				—				33,317				—				33,317
August 2022 Options (1)		August 2022		5 years		$	9.00				—				118,063				—				118,063
August 2022 Placement Agent Options		August 2022		5 years		$	52.80				—				5,904				—				5,904
Total											—				1,489,952				—				823,618

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Schedule of key terms and activity of preferred investment options.

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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

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