Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Stockholders' Equity

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Note 12 - Stockholders' Equity
 9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]

12. Stockholders’ Equity

 

Shares issued

 

During the nine months ended September 30, 2022, the Company issued 2,148,909 shares of common stock upon vesting of Restricted Stock Units ("RSUs") granted by the Company to management and employees. 

 

During the nine months ended September 30, 2022, the Company issued 79,691 shares of common stock upon vesting of RSUs granted to Board members.

 

During the nine months ended September 30, 2022, the Company issued 5,406,914 shares of common stock pursuant to the At The Market Issuance Sales Agreement for net proceeds of $5.6 million.

 

During the nine months ended September 30, 2022, the Company issued 13,389 shares of common stock to a former Board member to fulfill obligations related to consulting services.

 

Stock-based compensation

 

The stock-based compensation expense was allocated as follows:

 

   

Three Months Ended September 30,

    

Nine Months Ended September 30,

  
   

2022

    

2021

    

2022

    

2021

  

Cost of product sales

   $ 27     $ 14     $ 75     $ 61  

Research and development cost

     —       11       36       64  

General and administrative expense

     571       375       1,626       1,573  

Total

   $ 598     $ 400     $ 1,737     $ 1,698  

 

There were no options issued during the three and nine months ended September 30, 2022 or the three and nine months ended September 30, 2021.

 

Restricted stock units

 

In January 2022, the Company granted 44,780 RSUs, all of which were subject to vesting, with a grant fair value of $50,000 to employees. The shares vest in three equal installments over a three-year period.

 

In February 2022, the Company granted 47,933 RSUs, all of which were subject to vesting, with a grant fair value of $50,000 to employees. The shares vest in three equal installments over a three-year period.

 

In April 2022, the Company granted 9,615 RSUs, all of which were subject to vesting, with a grant fair value of $10,000 to employees. The shares vest in three equal installments over a three-year period.

 

In May 2022, the Company granted 182,293 RSUs, all of which were subject to vesting, with a grant fair value of $175,000 to Board Members. The shares vest in four equal installments over a twelve-month period.

 

In June 2022, the Company granted 12,121 RSUs, all of which were subject to vesting, with a grant fair value of $10,000 to employees. The shares vest in three equal installments over a three-year period.

 

In July 2022, the Company granted 143,708 RSUs, all of which were subject to vesting, with a grant fair value of $120,000 to employees. The shares vest in three equal installments over a three-year period.

 

In August 2022, the Company granted 10,537 RSUs, all of which were subject to vesting, with a grant fair value of $10,000 to employees. The shares vest in three equal installments over a three-year period.