XML 35 R21.htm IDEA: XBRL DOCUMENT v3.20.1
Warrants (Tables)
3 Months Ended
Mar. 31, 2020
Warrants [Abstract]  
Schedule of Stockholders' Equity Note, Warrants or Rights
As of March 31, 2020, the Company had the following potentially issuable shares of common stock related to unexercised warrants outstanding:

 
 
Shares
 
Exercise price
 
Expiration date
 
Classification
Hercules Warrant
 
41,177

 
$
6.80

 
Q2 2023
 
Equity
2018 Public Offering Warrants
 
3,616,944

 
$
9.60

 
Q1 2023
 
Liability
Private Placement Warrants
 
932,812

 
$
4.52

 
Q1 2024
 
Equity
Pre-Funded Warrants
 
531,250

 
$
0.08

 
Q1 2039
 
Equity
 
 
5,122,183

 
 
 
 
 
 
Fair Value Measurement Inputs and Valuation Techniques
The following table details the assumptions used in the Monte Carlo simulation models used to estimate the fair value of the Warrant Liability as of March 31, 2020 and December 31, 2019, respectively:
 
 
March 31, 2020
 
December 31, 2019
Stock price
 
$
1.72

 
$
2.07

Volatility
 
50.0% - 124.5%

 
50.0% - 116.6%

Remaining term (years)
 
2.8

 
3.1

Expected dividend yield
 

 

Risk-free rate
 
0.3
%
 
1.6
%
Annual acquisition event probability
 
30.0
%
 
20.0
%