Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Schedule of Inventory

As of March 31, 2019, and December 31, 2018, inventory consisted of the following (amounts in thousands)

	As of		As of
	March 31, 2019		December 31, 2018
Raw materials	$	513	$	392
Work-in-process		73		—
Finished goods		145		—
Total	$	731	$	392

Summary of Property and Equipment

The following tables summarizes the Company’s property and equipment as of March 31, 2019 and December 31, 2018 (amounts in thousands).

	As of			As of
	March 31, 2019			December 31, 2018
Leasehold improvement	$	182		$	182
Furniture and fixtures		248			185
Equipment		219			219
Computer software and hardware		142			44
Property and equipment		791			630
Less accumulated depreciation		(98	)		(76	)
Property and equipment, net	$	693		$	554

Summary of Derivative Financial Instruments

The following table summarizes the Company’s financial instruments within the fair value hierarchy as of March 31, 2019 and December 31, 2018 (amounts in thousands):

	Fair Value		Level 1		Level 2		Level 3
March 31, 2019
Liabilities:
Derivative financial instruments	$	5,743		—		—	$	5,743
December 31, 2018
Liabilities:
Derivative financial instruments	$	13,769		—		—	$	13,769

Summary of Basic and Diluted Loss per Share

The basic and diluted income (loss) per share for the periods noted below is as follows (amounts in thousands except shares and per share data):

	Three Months Ended
	March 31,
	2019			2018
Basic
Numerator:
Net income (loss)	$	1,324		$	(1,165	)
Denominator:
Weighted average common shares outstanding - basic		25,832,190			20,334,929
Basic net income (loss) per share	$	0.05		$	(0.06	)
Diluted
Numerator:
Net income (loss), basic	$	1,324		$	(1,165	)
Effect of dilutive securities: change in fair value of derivative financial instruments		(2,809	)		(434	)
Net loss, diluted	$	(1,485	)	$	(1,599	)
Denominator:
Weighted average common shares outstanding - basic		25,832,190			20,334,929
Potential common share issuances:
Incremental dilutive shares from options and warrants (treasury stock method)		953,518			125,727
Weighted average common shares outstanding - diluted		26,785,708			20,460,656
Diluted net loss per share	$	(0.06	)	$	(0.08	)

Summary of Outstanding Securities Excluded from Computation of Diluted Weighted Shares Outstanding

The following outstanding securities have been excluded from the computation of diluted weighted shares outstanding for the periods noted below, as they would have been anti-dilutive due to the Company’s losses for the three months ended March 31, 2018 and because the exercise price of certain of these outstanding securities was greater than the average closing price of the Company’s common stock.

	For the Three Months Ended
	March 31, 2019		March 31, 2018
Stock options outstanding		1,799,795		2,208,646
Warrants outstanding		3,043,605		1,818,439
Restricted stock units		—		1,928
Total		4,843,400		4,029,013