Investments and Fair Value Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Investments And Fair Value Instruments [Abstract]

Summary of Amortized Cost and Fair Value of Investment Securities Portfolio

The following tables summarize the amortized cost and fair value of the investment securities portfolio at December 31, 2020 and December 31, 2019, and the corresponding amounts of unrealized gains and losses recognized in other income, net, in the consolidated statements of operations and comprehensive loss:

(Dollars in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
December 31, 2020
Cash equivalents:
Money market funds	$	12,082	$	—	$	—	$	12,082
Short-term investments:
Corporate securities		10,969		656		—		11,625
Total Assets at Fair Value	$	23,051	$	656	$	—	$	23,707

(Dollars in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
December 31, 2019
Cash equivalents:
Money market funds	$	6,864	$	—	$	—	$	6,864
Commercial paper		900		—		—		900
Short-term investments:
Corporate securities		3,300		—		—		3,300
Treasury bills		1,495		1		—		1,496
Commercial paper		12,119		—		—		12,119
Total Assets at Fair Value	$	24,678	$	1	$	—	$	24,679

Summary of Fair Value of Investment Securities

The fair value of the investment securities at December 31, 2020 were as follows:

	Fair Value Measurements at December 31, 2020
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets at Fair Value
Cash equivalents:
Money market funds	$	12,082	$	—	$	—	$	12,082
Short-term investments:
Corporate securities		11,625		—		—		11,625
Total Assets at Fair Value	$	23,707	$	—	$	—	$	23,707

The fair value of the investment securities at December 31, 2019 were as follows:

	Fair Value Measurements at December 31, 2019
(Dollars in thousands)	Level 1		Level 2		Level 3		Total
Assets at Fair Value
Cash equivalents:
Money market funds	$	6,864	$	—	$	—	$	6,864
Commercial paper		—		900		—		900
Short-term investments:
Corporate securities		—		3,300		—		3,300
Treasury bills		1,496		—		—		1,496
Commercial paper		—		12,119		—		12,119
Total Assets at Fair Value	$	8,360	$	16,319	$	—	$	24,679

Summary of Warrant Liabilities Measured and Recorded on Recurring Basis using Black-Scholes Model

The warrant liabilities were measured and recorded on a recurring basis using the Black-Scholes Model with the following assumptions at December 31, 2020 and 2019:

	September 2019 Warrants						June 2019 Warrants						June 2018 Warrants					March 2018 Warrants
	December 31, 2020			December 31, 2019			December 31, 2020			December 31, 2019			December 31, 2020		December 31, 2019			December 31, 2020			December 31, 2019
Expected term (in years)		4.20			5.20			3.96			4.96			—		3.96			2.22			3.22
Expected volatility		135.0	%		120.0	%		135.0	%		120.0	%		—		123.0	%		130.0	%		125.0	%
Risk-free interest rate		0.3	%		1.7	%		0.3	%		1.7	%		—		1.7	%		0.1	%		1.6	%
Expected dividend yield		0	%		0	%		0	%		0	%		—		0	%		0	%		0	%

Summary of Changes in Fair Value and Other Adjustments of Liabilities

The following table sets forth the establishment of the Company’s Level 3 liabilities, as well as a summary of the changes in the fair value and other adjustments (in thousands):

	(Level 3)
(Dollars in thousands)	Common Stock Warrant Liability - March 2018 Purchase Agreement			Common Stock Warrant Liability - June 2018 Offering			Common Stock Warrant Liability - June 2019 Offering			Common Stock Warrant Liability - September 2019 Offering			Contingent Liabilities			Total
Balance as of December 31, 2018	$	2,354		$	2,729		$	—		$	—		$	3,000		$	8,083
Common stock and warrants    issued in conjunction with    June 2019 Offering		—			—			4,198			—			—		$	4,198
Common stock and warrants    issued in conjunction with   September 2019 Offering		—			—			—			3,428			—		$	3,428
Change in fair value and    other adjustments		2,225			2,715			4,811			(508	)		(1,000	)	$	8,243
Exercise of warrants		-			-			(7,016	)		-			-		$	(7,016	)
Balance as of December 31, 2019	$	4,579		$	5,444		$	1,993		$	2,920		$	2,000		$	16,936
Change in fair value and    other adjustments		(2,277	)		(1,426	)		(1,161	)		(1,706	)		—		$	(6,570	)
Exercise of warrants		(1,641	)		(4,018	)		—			—			—		$	(5,659	)
ISI acquisition contingent    consideration		—			—			—			—			280		$	280
Balance as of December 31, 2020	$	662		$	—		$	832		$	1,214		$	2,280		$	4,987