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Stockholders' Equity (Tables)
12 Months Ended
Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Warrant Activity

The following table summarizes the warrants issued and outstanding as of December 31, 2021:

 

Warrants Issued and Outstanding as of December 31, 2021

 

 

 

Date of

 

Exercise

 

 

Shares of

 

Description

 

Issuance

 

Expiration

 

Price

 

 

Common Stock

 

Exercisable warrants

 

10/19/2020

 

3/19/2028

 

$

1.50

 

 

 

500,000

 

Exercisable warrants

 

10/19/2021

 

3/19/2028

 

$

1.50

 

 

 

350,000

 

Total warrants issued and outstanding

 

 

 

 

 

850,000

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Stock Option Activity

The following table summarizes the stock option activity from January 1, 2020 through December 31, 2021:

 

 

 

Stock Options

 

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Exercise

 

Average

 

 

 

Number

 

 

Price Per

 

Exercise Price

 

 

 

of Shares

 

 

Share

 

Per Share

 

Outstanding at January 1, 2020

 

 

2,445,453

 

 

$1.17 — $23.20

 

$

3.37

 

Granted

 

 

998,713

 

 

$1.35  — $2.32

 

$

1.56

 

Canceled/Forfeited

 

 

(266,224

)

 

$1.48 — $16.80

 

$

3.55

 

Outstanding at December 31, 2020

 

 

3,177,942

 

 

$1.17 — $23.20

 

$

2.78

 

Granted

 

 

323,063

 

 

$3.01  — $6.30

 

$

4.47

 

Exercised

 

 

(176,427

)

 

$1.48  — $6.40

 

$

2.98

 

Canceled/Forfeited

 

 

(43,993

)

 

$1.48 — $23.20

 

$

7.85

 

Outstanding at December 31, 2021

 

 

3,280,585

 

 

$1.17 — $23.20

 

$

2.87

 

Summary of Stock Option Outstanding

The following additional information applies to options outstanding at December 31, 2021:

 

Range of
Exercise
Prices

 

Outstanding at
December 31, 2021

 

 

Weighted-
Average
Remaining
Contractual
Life

 

 

Weighted-
Average
Exercise
Price

 

 

Exercisable at
December 31, 2021

 

 

Weighted-
Average
Exercise
Price

 

$1.17 - $23.20

 

 

3,280,585

 

 

 

6.8

 

 

$

2.87

 

 

 

2,357,641

 

 

$

2.95

 

 

The following additional information applies to options outstanding at December 31, 2020:

 

Range of
Exercise
Prices

 

Outstanding at
December 31, 2020

 

 

Weighted-
Average
Remaining
Contractual
Life

 

 

Weighted-
Average
Exercise
Price

 

 

Exercisable at
December 31, 2020

 

 

Weighted-
Average
Exercise
Price

 

$1.17 - $23.20

 

 

3,177,942

 

 

 

7.4

 

 

$

2.78

 

 

 

1,877,392

 

 

$

3.40

 

Schedule of Weighted-Average Estimated Value of Employee Stock Options Granted

The weighted-average estimated value of employee stock options granted during the years ended December 31, 2021 and 2020 were estimated using the Black-Scholes-Merton option pricing model with the following weighted-average assumptions:

 

 

 

Years Ended December 31,

 

 

 

2021

 

 

2020

 

Expected volatility

 

 

72

%

 

 

75

%

Risk-free interest rate

 

 

1.08

%

 

 

0.49

%

Expected dividends

 

 

0.00

%

 

 

0.00

%

Expected term in years

 

 

6.0

 

 

 

5.7

 

Warrant [Member]  
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]  
Summary of Warrant Activity

Warrant activity from January 1, 2020 through December 31, 2021 was as follows:

 

 

Warrants

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

Number

 

Exercise Price

 

Exercise Price

 

 

of Shares

 

per Share

 

Per Share

Outstanding at January 1, 2020

 

521,060

 

$1.15  — $3.88

 

$1.62

Issued

 

500,000

 

$1.50

 

$1.50

Outstanding at December 31, 2020

 

1,021,060

 

$1.15  — $3.88

 

$1.56

Issued

 

350,000

 

$1.50

 

$1.50

Exercised

 

  (181,834)

 

$1.15  — $3.88

 

$1.23

Canceled/Forfeited

 

  (339,226)

 

$1.15  — $3.88

 

$1.83

Outstanding at December 31, 2021

 

850,000

 

$1.50

 

$1.50