XML 60 R38.htm IDEA: XBRL DOCUMENT v3.23.1
Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2022
Class of Stock [Line Items]  
Summary of Stock Based Compensation Recognized in Consolidated Statement of Operations

Amounts recognized in the consolidated statements of operations with respect to the Company’s equity incentive plans were as follows:

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

Selling, general and administrative

 

$

559,226

 

 

$

1,154,000

 

Research and development

 

 

197,705

 

 

 

141,281

 

Cost of product and product-related services revenue

 

 

17,229

 

 

 

22,074

 

 

 

$

774,160

 

 

$

1,317,355

 

Summary of Stock Option Plans Activity

The following table summarizes stock option activity (including Inducement Award activity) during the two-year period ended December 31, 2022:

 

 

Number of
Shares

 

 

Weighted-
Average
Exercise Price
Per Share

 

 

Weighted-
Average
Remaining
Contractual
Life (Years)

 

 

Aggregate
Intrinsic Value

 

Balance at January 1, 2021

 

 

40,602

 

 

$

201.36

 

 

 

8.6

 

 

$

1,536

 

Granted

 

 

12,819

 

 

 

65.40

 

 

 

 

 

 

 

Exercised

 

 

(6

)

 

 

52.20

 

 

 

 

 

$

107

 

Forfeited

 

 

(4,406

)

 

 

143.76

 

 

 

 

 

 

 

Expired/Cancelled

 

 

(2,398

)

 

 

244.68

 

 

 

 

 

 

 

Balance at December 31, 2021

 

 

46,611

 

 

$

167.16

 

 

 

8.2

 

 

$

30,267

 

Granted

 

 

39,667

 

 

 

12.91

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(4,944

)

 

 

66.58

 

 

 

 

 

 

 

Expired/Cancelled

 

 

(5,235

)

 

 

292.56

 

 

 

 

 

 

 

Balance at December 31, 2022

 

 

76,099

 

 

$

84.73

 

 

 

8.3

 

 

$

-

 

Exercisable at December 31, 2021

 

 

24,915

 

 

$

241.68

 

 

 

7.4

 

 

$

6,269

 

Exercisable at December 31, 2022

 

 

38,096

 

 

$

142.34

 

 

 

7.6

 

 

$

-

 

Summary of Material Factors Incorporated in Black-Scholes Model In Estimating Fair Value of Options Granted The material factors incorporated in the Black-Scholes model in estimating the fair value of the stock options granted for the periods presented were as follows:

 

 

2022

 

2021

Fair value of common stock on grant date

 

$8.28 - 49.27

 

$48.84 - 75.00

Risk-free interest rate

 

1.53% - 3.64%

 

0.85% - 1.20%

Expected volatility

 

89.6% - 110.7%

 

104.2% - 107.3%

Expected term

 

5.5 to 5.8 years

 

5.2 to 6.1 years

Expected dividend yield

 

0%

 

0%

Summary of Restricted Stock Unit ("RSU") Award Activity

The following table summarizes RSU activity (including Inducement Award activity) during the two-year period ended December 31, 2022:

 

 

Number of
Shares

 

 

Weighted-
Average
Grant Date
Fair Value
Per Share

 

Balance at January 1, 2021

 

 

1,017

 

 

$

343.32

 

Granted

 

 

2,500

 

 

 

62.40

 

Released

 

 

(377

)

 

 

349.56

 

Forfeited

 

 

(542

)

 

 

290.16

 

Balance at December 31, 2021

 

 

2,598

 

 

$

83.16

 

Granted

 

 

416

 

 

 

8.29

 

Released

 

 

(1,139

)

 

 

110.47

 

Forfeited

 

 

(626

)

 

 

62.50

 

Balance at December 31, 2022

 

 

1,249

 

 

$

44.40

 

Vested and unissued at December 31, 2022

 

 

208

 

 

$

62.42

 

Employee Stock [Member]  
Class of Stock [Line Items]  
Summary of Stock Based Compensation Recognized in Consolidated Statement of Operations

Amounts recognized in the consolidated statements of operations with respect to the Amended 2014 ESPP were as follows:

 

 

Years Ended December 31,

 

 

 

2022

 

 

2021

 

Selling, general and administrative

 

$

22,187

 

 

$

34,219

 

Research and development

 

 

11,046

 

 

 

11,643

 

Cost of product and product-related services revenue

 

 

7,114

 

 

 

11,807

 

 

 

$

40,347

 

 

$

57,669

 

Summary of Material Factors Incorporated in Black-Scholes Model In Estimating Fair Value of Options Granted

The material factors incorporated in the Black-Scholes model in estimating the fair value of employee stock purchase plan stock purchase rights for the periods presented were as follows:

 

 

2022

 

2021

Fair value of common stock

 

$6.00 - 49.80

 

$56.04 - 70.20

Risk-free interest rate

 

0.11% - 2.25%

 

0.04% - 0.08%

Expected volatility

 

64.9% - 96.7%

 

71.9% - 89.2%

Expected term

 

0.5 years

 

0.5 years

Expected dividend yield

 

0%

 

0%

Summary of Shares Purchased under ESPP'S Six Month Purchase Periods

During the year ended December 31, 2022, employees purchased the following shares at the end of each of the six-month purchase periods:

 

 

June 2022

 

 

December 2022

 

 

 

Number of
Shares

 

 

Price
per Share

 

 

Number of
Shares

 

 

Price
per Share

 

Total number of shares purchased

 

 

4,083

 

 

$

5.71

 

 

 

2,792

 

 

$

5.10

 

During the year ended December 31, 2021, employees entering the plan at various times throughout the offering period purchased the following shares at the end of each of the six-month purchase periods:

 

 

June 2021

 

 

December 2021

 

 

 

Number of
Shares

 

 

Price
per Share

 

 

Number of
Shares

 

 

Price
per Share

 

Total number of shares purchased

 

 

1,136

 

 

$

47.04

 

 

 

1,693

 

 

$

42.72