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Net Loss per Share (Tables)
9 Months Ended
Sep. 30, 2023
Earnings Per Share [Abstract]  
Schedule of Weighted-Average Common Shares Outstanding

The following securities are the weighted-average common shares outstanding used to calculate basic and diluted net loss per common share:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2023

 

 

2022 (1)

 

 

2023

 

 

2022 (1)

 

Common stock

 

 

10,287,620

 

 

 

8,136,740

 

 

 

9,206,650

 

 

 

7,156,344

 

March 2022 pre-funded warrants

 

 

1,122,819

 

 

 

1,280,965

 

 

 

1,227,670

 

 

 

889,169

 

May 2023 Tranche A pre-funded exchange warrants

 

 

26,309

 

 

 

-

 

 

 

8,866

 

 

 

-

 

Total

 

 

11,436,748

 

 

 

9,417,705

 

 

 

10,443,186

 

 

 

8,045,513

 

(1) The Company revised the 2022 weighted-average common shares outstanding calculation to include the March 2022 pre-funded warrants. Management believes this version results in a more appropriate treatment of the pre-funded warrants in calculating the net loss per share.

Schedule of Potentially Dilutive Securities Outstanding Excluded from Computations of Diluted Weighted-Average Shares Outstanding

The following potentially dilutive securities outstanding have been excluded from the computations of diluted weighted-average shares outstanding for the periods presented because such securities have an antidilutive impact due to losses reported (in common stock equivalent shares):

 

 

 

As of September 30,

 

 

 

2023

 

 

2022

 

Warrants issued to 2010/2012 convertible note
   holders to purchase common stock

 

 

6,804

 

 

 

6,804

 

Warrants issued to underwriter to purchase common stock

 

 

1,100

 

 

 

1,100

 

2018 PIPE warrants

 

 

34,241

 

 

 

34,241

 

March 2022 common warrants

 

 

2,130,656

 

 

 

4,000,000

 

May 2023 Tranche A warrants

 

 

2,867,908

 

 

 

 

May 2023 Tranche B warrants

 

 

14,000,000

 

 

 

 

Options to purchase common stock

 

 

2,300,412

 

 

 

686,816

 

Outstanding restricted stock units

 

 

424,244

 

 

 

19,068

 

Total

 

 

21,765,365

 

 

 

4,042,145