Net Loss Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Numerator and Denominator used in Calculation of Basic and Diluted Net Loss Per Common Share

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per common share for the three and six months ended June 30, 2023 and 2022 is as follows:

	For the Three Months Ended June 30, 2023			For the Three Months Ended June 30, 2022			For the Six Months Ended June 30, 2023			For the Six Months Ended June 30, 2022
Numerator:
Net loss	$	(8,090,720	)	$	(2,667,036	)	$	(24,371,426	)	$	(11,846,040	)
Denominator:
Basic:
Weighted average shares of common stock outstanding		24,462,895			15,273,707			22,765,268			14,794,637
Diluted:
Weighted average shares of common stock outstanding		24,462,895			15,273,707			22,765,268			14,794,637
Effect of potentially dilutive shares (1)		—			2,407,693			—			1,577,900
Total weighted average shares of common stock and potentially dilutive shares		24,462,895			17,681,400			22,765,268			16,372,537
Net loss per common share:
Basic:
Net loss applicable to common stockholders	$	(8,090,720	)	$	(2,667,036	)	$	(24,371,426	)	$	(11,846,040	)
Weighted average shares of stock outstanding, basic		24,462,895			15,273,707			22,765,268			14,794,637
Basic net loss per common share	$	(0.33	)	$	(0.17	)	$	(1.07	)	$	(0.80	)
Diluted:
Net loss applicable to common shareholders, diluted (1)	$	(8,090,720	)	$	(5,308,236	)	$	(24,371,426	)	$	(13,524,840	)
Weighted average shares of stock outstanding, diluted		24,462,895			17,681,400			22,765,268			16,372,537
Diluted net loss per common share	$	(0.33	)	$	(0.30	)	$	(1.07	)	$	(0.83	)

(1) In calculating diluted net loss per share, we excluded the impact of changes in the fair value of the Marathon Convertible Notes of $2.6 million and $1.7 million for the three and six months ended June 30, 2022, respectively. The 2,407,693 shares and 1,577,900 shares for the three and six months ended June 30, 2022, respectively are the weighted average shares associated with the original principal amount of the Marathon Convertible Notes and the shares that may be issuable upon the conversion of accrued interest owed at the beginning of the period.

Schedule of Number of Shares of Common Stock Underlying Potentially Dilutive Securities Excluded From Calculation of Diluted Net Loss Per Share

As of June 30, 2023 and 2022, the number of shares of common stock underlying potentially dilutive securities excluded from the calculation of diluted net loss per share, because the company’s net loss meant that their inclusion would have been antidilutive for those periods, consist of:

	June 30,
	2023		2022
Options to purchase common stock		3,055,256		2,850,787
Shares associated with Marathon Convertible Note		2,400,000		—
March 2023 Offering warrants		2,920,306		—
SWK Warrants		1,000,000		150,000
Total		9,375,562		3,000,787