Stock-Based Compensation (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 9 Months Ended | ||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sep. 01, 2020 |
Jul. 10, 2020 |
Jun. 11, 2020 |
Feb. 06, 2020 |
Nov. 13, 2019 |
Aug. 08, 2019 |
Jul. 03, 2018 |
Sep. 30, 2020 |
Jun. 30, 2020 |
Mar. 31, 2020 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Sep. 30, 2020 |
Sep. 30, 2019 |
Dec. 31, 2019 |
Feb. 13, 2019 |
Feb. 06, 2019 |
Jan. 02, 2019 |
Oct. 06, 2018 |
Oct. 02, 2018 |
Jul. 02, 2018 |
Jun. 06, 2018 |
Dec. 31, 2016 |
|
Net proceeds | $ 9,994 | $ 20,000 | ||||||||||||||||||||||
Option expected life | 5 years 8 months 12 days | 5 years 9 months 18 days | ||||||||||||||||||||||
General and administrative expense | $ 2,155 | $ 2,028 | $ 7,432 | $ 7,189 | ||||||||||||||||||||
Unamortized share-based for stock options | $ 2,477 | $ 2,477 | ||||||||||||||||||||||
Number of outstanding options to purchase | 2,389,700 | |||||||||||||||||||||||
Weighted-average exercise price (in dollars per share) | $ 4.22 | $ 4.22 | ||||||||||||||||||||||
Share based compensation expense related to stock options | $ 619 | $ 578 | $ 1,798 | 1,811 | ||||||||||||||||||||
Common stock issuable upon exercise of outstanding warrants | 17,018,051 | |||||||||||||||||||||||
Description of incentive plan | On January 1, 2020, pursuant to an annual evergreen provision, the number of shares of common stock reserved for future grants was increased by 1,728,665 shares. Under the 2016 Plan, effective as of January 1, 2020, the maximum number of shares of the Company's common stock authorized for issuance is 5,656,324. As of September 30, 2020, there were 635,663 shares of common stock available for future grant under the 2016 Plan. | |||||||||||||||||||||||
Description of service agreement | The Company entered into a services agreement whereby it agreed to issue warrants to purchase 50,000 shares of common stock of the Company which vested immediately. The warrants are exercisable at $1.17 per share and expire three years from the date of issuance. The fair value of the warrants were valued on the date of grant at $28 using the Black-Scholes option-pricing model with the following parameters: (1) risk-free interest rate of 0.22%; (2) expected life in years of 3.0; (3) expected stock volatility of 73.06%; and (4) expected dividend yield of 0%. The Company recorded $14 and $17 as general and administrative expense in the accompanying condensed consolidated statement of comprehensive loss in relation to the consulting agreement for the three and nine months ended September 30, 2020, respectively. As of September 30, 2020, the Company has recorded a prepaid expense which will be recognized through December 31, 2020, in the amount of $11 related to the fully vested nonforfeitable warrants issued for which services have not been rendered. On July 10, 2020 and August 3, 2020, the Company issued an aggregate of 50,000 shares of common stock upon exercise of the warrant which resulted in aggregate proceeds of approximately $59. | |||||||||||||||||||||||
Accrued expenses related to services rendered | 56 | $ 56 | ||||||||||||||||||||||
Directors receives Service,description | The non-employee members of the Board of Directors were granted an aggregate of 44,600 shares of Common Stock as compensation, in lieu of $55 of cash compensation, for service as directors during the second quarter of 2020, pursuant to the Company's non-employee director compensation policy. The Company recorded $56 in accrued expenses as of September 30, 2020, in relation to the service as directors for the three months ended September 30, 2020. On October 10, 2020, the non-employee members of the Board of Directors were granted an aggregate of 58,804 shares of Common Stock as compensation, in lieu of cash compensation, for service as directors during the third quarter of 2020, pursuant to the Company's non-employee director compensation policy. The number of shares granted to the Company's directors, in lieu of cash compensation, is determined by the dollar amount quarterly fees due under the non-employee director compensation policy divided by the fair market value of a share of Common Stock as of the grant date. | |||||||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||||||||||||
Number of shares issued | 501,265 | |||||||||||||||||||||||
Granted | 260,154 | |||||||||||||||||||||||
General and administrative expense | 124 | $ 352 | ||||||||||||||||||||||
Unamortized share-based for stock options | $ 1,021 | $ 1,021 | ||||||||||||||||||||||
Unamortized share-based for stock options period | 1 year 2 months 16 days | |||||||||||||||||||||||
August 2019 Consultant Warrants [Member] | ||||||||||||||||||||||||
Warrant term (in years) | 3 years | |||||||||||||||||||||||
Warrant [Member] | ||||||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 1.86 | $ 1.86 | $ 5.24 | |||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||
Issuance of common shares upon vesting | 30,916 | 30,916 | 15,070 | 30,140 | 10,313 | |||||||||||||||||||
Percentage of number of shares | 6.00% | |||||||||||||||||||||||
Employee [Member] | Common Stock [Member] | Executive Officer [Member] | ||||||||||||||||||||||||
Expected life | 3 years | |||||||||||||||||||||||
Consultant Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||
Number of warrants purchased | 25,000 | 25,000 | ||||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 10.00 | $ 8.75 | ||||||||||||||||||||||
Expected life | 24 months | 18 months | ||||||||||||||||||||||
General and administrative expense | 0 | 31 | ||||||||||||||||||||||
Consultant Agreement [Member] | Warrant Issued with 30 Days of Agreement [Member] | ||||||||||||||||||||||||
Number of warrants purchased | 25,000 | |||||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 7.39 | |||||||||||||||||||||||
Expected life | 18 months | |||||||||||||||||||||||
Consultant Agreement [Member] | Warrant Issued with 30 Days of Agreement One [Member] | ||||||||||||||||||||||||
Number of warrants purchased | 25,000 | |||||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 7.39 | |||||||||||||||||||||||
Expected life | 12 months | |||||||||||||||||||||||
Consultant Agreement [Member] | Warrant Issued with 10 Consecutive Trading Days [Member] | ||||||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 0.01 | |||||||||||||||||||||||
Consultant Agreement [Member] | Warrant Issued with 10 Consecutive Trading Days [Member] | Minimum [Member] | ||||||||||||||||||||||||
Warrant exercise price (in dollars per share) | 9.00 | |||||||||||||||||||||||
Consultant Agreement [Member] | Warrant Issued with 10 Consecutive Trading Days [Member] | Maximum [Member] | ||||||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 13.00 | |||||||||||||||||||||||
Consultant Agreement [Member] | Consultant [Member] | August 2019 Consultant Warrants [Member] | ||||||||||||||||||||||||
Warrant term (in years) | 3 years | |||||||||||||||||||||||
Consultant Agreement [Member] | Consultant [Member] | Warrant [Member] | ||||||||||||||||||||||||
Number of warrants purchased | 10,000 | 10,000 | 10,000 | |||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 7.25 | $ 6.25 | $ 5.25 | |||||||||||||||||||||
General and administrative expense | 0 | 10 | ||||||||||||||||||||||
Fair value of warrants | 30,000 | 30,000 | ||||||||||||||||||||||
Consulting Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||
Number of warrants purchased | 90,000 | |||||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 8.50 | |||||||||||||||||||||||
Number of shares issued upon services | 30,000 | |||||||||||||||||||||||
Expected life | 5 years | |||||||||||||||||||||||
General and administrative expense | 139 | $ 276 | ||||||||||||||||||||||
Amended and Restated Consultant Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||
Number of warrants purchased | 50,000 | |||||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 5.00 | |||||||||||||||||||||||
Expiration date | Mar. 20, 2022 | |||||||||||||||||||||||
General and administrative expense | 30 | $ 60 | ||||||||||||||||||||||
Amended and Restated Consultant Agreement [Member] | November 2019 Consultant Warrant [Member] | ||||||||||||||||||||||||
Number of warrants purchased | 30,000 | |||||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 5.00 | |||||||||||||||||||||||
Number of shares issued upon services | 30,000 | |||||||||||||||||||||||
Value of shares issued upon services | $ 0 | $ 55 | ||||||||||||||||||||||
Services Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||
Exercise price (in dollars per share) | $ 2.16 | |||||||||||||||||||||||
Warrant term (in years) | 3 years | |||||||||||||||||||||||
Granted | 60,000 | |||||||||||||||||||||||
General and administrative expense | $ 28 | $ 75 | ||||||||||||||||||||||
Risk-free interest rate | 1.43% | |||||||||||||||||||||||
Expected life in years | 3 years | |||||||||||||||||||||||
Expected stock volatility | 74.82% | |||||||||||||||||||||||
Expected dividend yield | 0.00% | |||||||||||||||||||||||
Fair value of warrants | $ 112 | |||||||||||||||||||||||
Services Agreement [Member] | Common Stock [Member] | ||||||||||||||||||||||||
Number of warrants purchased | 120,000 | |||||||||||||||||||||||
Warrant exercise price (in dollars per share) | $ 3.50 | |||||||||||||||||||||||
Remaining warrants granted | 60,000 | |||||||||||||||||||||||
Agreement [Member] | Warrant [Member] | ||||||||||||||||||||||||
Securities purchase agreement, description | The Securities Purchase Agreement, as described above, the Company issued a pre-funded common stock purchase warrant to purchase up to 5,533,625 shares of its common stock with the aggregate exercise price already being pre-funded to the Company on September 1, 2020 and, consequently, no additional consideration other than the nominal exercise price of $0.001 per warrant share shall be required to be paid to effect any exercise of the warrant. The pre-funded common stock purchase warrant will be exercisable until it is exercised in full. Pursuant to the Securities Purchase Agreement, on September 1, 2020, the Company also issued a common stock purchase warrant to purchase 8,733,625 of its common stock at an exercise price of $1.30 per share that expires on September 1, 2025. The terms of both warrants include certain provisions related to fundamental transactions, a cashless exercise provision in the event registered shares are not available, and do not include any mandatory redemption provisions. Therefore, the warrants have been classified as equity upon issuance. | |||||||||||||||||||||||
Agreement [Member] | Common Stock [Member] | ||||||||||||||||||||||||
Securities purchase agreement, description | The Company completed a securities purchase agreement (the "Securities Purchase Agreement") in which it sold and issued, in a registered direct offering, an aggregate of 3,200,000 shares of the Company's common stock par value $0.0001 per share (the "Common Stock"), and pre-funded warrants to purchase an aggregate of 5,533,625 shares of Common Stock (the "Pre-Funded Warrants"). The offering price was $1.145 for each share of Common Stock and $1.144 for each Pre-Funded Warrant. The Pre-Funded Warrants are immediately exercisable at a price of $.0001 per share of Common Stock. Pursuant to the Securities Purchase Agreement, in a concurrent private placement, the Company has also agreed to sell and issue to the purchasers warrants to purchase up to 8,733,625 shares of Common Stock. These warrants are immediately exercisable at an exercise price of $1.30 per share and expire on the fifth anniversary of the date of issuance. In connection with the closing of the offering, the Company received gross proceeds of $9,994 before deducting placement agent fees and other offering expenses of $830, from the issuance of the Common Stock and the Pre-Funded Warrants. |