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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2021
Summary of Significant Accounting Policies  
Disaggregation of Revenue

The following table presents revenue disaggregated (in thousands):

Year ended December 31, 

2021

2020

2019

OviTex

$

22,990

$

15,093

$

14,041

OviTex PRS

6,473

3,120

1,405

Total revenue

$

29,463

$

18,213

$

15,446

Schedule of fair value of assets and liabilities measured on recurring basis

The following fair value hierarchy table presents information about each major category of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and 2020 (in thousands):

Fair value measurement at reporting date using

Quoted prices in

active markets

Significant other

Significant

for identical

observable

unobservable

assets

inputs

inputs

    

(Level 1)

    

(Level 2)

    

(Level 3)

December 31, 2021:

Cash equivalents – money market fund

$

41,396

$

$

December 31, 2020:

Cash equivalents – money market fund

$

72,889

$

$

Schedule of warrant liability

January 1, 2019

$

1,640

Change in fair value of warrants

5

Conversion into common stock warrants

(1,645)

December 31, 2019

    

$

Schedule of fair value of warrants

Convertible

MidCap Credit

promissory

    

Facility

    

notes

    

Notes payable

 

Expected dividend yield

 

 

 

Expected volatility

 

57.5

%  

57.4

%  

57.5

%

Risk-free interest rate

 

2.04

%  

1.79

%  

1.79

%

Remaining contractual term in years

 

8.4

 

7.2

 

7.4

Schedule of dilutive securities excluded

Year ended December 31, 

2021

2020

2019

Stock options (including shares subject to repurchase)

1,706,438

 

1,498,390

1,421,697

Unvested restricted stock units

163,043

Common stock warrants

88,556

88,556

88,556

Total

 

1,958,037

 

1,586,946

1,510,253