In connection with professional services agreements with non-affiliated third parties, during the year ended December 31, 2022, the Company issued service and performance warrants (“Service and Performance Warrants”).

The Company issued the following warrants to purchase shares of its common stock, which are outstanding as of December 31, 2022 and 2021, respectively. These warrants are exercisable any time at the option of the holder until their expiration date.


	Issuance Date	Term	Exercise Price Per Share		Warrants Exercised during the Year Ended December 31, 2021		Warrants Outstanding at December 31, 2021		Warrants Exercised during the Year Ended December 31, 2022		Warrants Outstanding at December 31, 2022
December 2022 Service and Performance Warrants (1)	December 2022	5 years	$	11.20		—		—		—		1,000
October 2022 Service and Performance Warrants (1)	October 2022	5 years	$	16.00		—		—		—		1,000
August 2022 Pre-Funded Warrants	August 2022	perpetual	$	—		—		—		—		56,813
January 2021 Placement Agent Warrants	January 2021	5.5 years	$	159.60		—		9,846		—		9,846
January 2021 Service and Performance Warrants (1)	January 2021	2 years	$	123.20		—		188		—		188
December 2020 Warrants	December 2020	5.5 years	$	120.00		—		65,467		—		65,467
December 2020 Placement Agent Warrants	December 2020	5 years	$	152.80		—		3,274		—		3,274
July 2020 Warrants	July 2020	5.5 years	$	154.00		—		16,036		—		16,036
July 2020 Placement Agent Warrants	July 2020	5.5 years	$	198.80		—		802		—		802
May 2020 Warrants	May 2020	5 years	$	191.20		—		34,809		—		34,809
May 2020 Placement Agent Warrants	May 2020	5 years	$	245.20		—		1,741		—		1,741
March 2020 Service and Performance Warrants (1)	March 2020	3 years	$	100.00		—		459		—		459
February 12, 2020 Service and Performance Warrants (1)(3)	February 2020	2 years	$	188.40		—		3,750		—		—
February 3, 2020 Service and Performance Warrants (1)(3)	February 2020	2 years	$	196.40		—		250		—		—
September 2019 Placement Agent Warrants	September 2019	5 years	$	379.20		—		1,649		—		1,649
June 2019 Placement Agent Warrants	June 2019	5 years	$	251.60		—		1,862		—		1,862
April 2019 Service and Performance Warrants (1)	April 2019	5 years	$	247.20		—		3,629		—		3,629
June 2018 Placement Agent Warrants	June 2018	5 years	$	502.80		—		1,741		—		1,741
March 2018 Placement Agent Warrants	March 2018	5 years	$	1,662.40		—		376		—		376
January 2021 Warrants (2)	January 2021	5.5 years	$	125.20		—		98,460		—		98,460
September 2019 Warrants (2)	September 2019	5.5 years	$	300.80		—		16,486		—		16,486
June 2019 Warrants (2)	June 2019	5.5 years	$	200.00		—		10,896		—		10,896
June 2018 Warrants (2)	June 2018	5.5 years	$	397.60		—		—		—		—
March 2018 Warrants (2)	March 2018	5 years	$	429.20		—		16,036		—		16,036
Total						—		287,757		—		342,570

(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) Certain warrants contain a contingent cash payment feature and therefore were accounted for as a liability at the date of issuance and were adjusted to fair value at each balance sheet date. Upon adoption of ASU No. 2020-06 on January 1, 2022, all of the common stock warrant liabilities have been reclassified to equity classified common stock warrants, due to the elimination of the contingent cash payments as criteria for liability classification.

(3) These warrants expired in February 2022.

The preferred investment options issued in connection with the August 2022 Registered Direct Offering contain certain early settlement provisions that preclude them from equity classification and therefore were accounted for as liabilities at the date of issuance and are adjusted to fair value at each balance sheet date. The change in fair value of the options liabilities is recorded as change in fair value of common stock warrant and option liabilities in the consolidated statements of operations and comprehensive loss. The key terms and activity of the liability classified preferred investment options are summarized as follows:

See Note 6 for the Black-Scholes option-pricing model and weighted-average assumptions used to estimate the fair value of the preferred investment options liabilities.