| Schedule of outstanding warrants |
A summary of outstanding warrants as of March 31, 2020 and December 31, 2019 is presented below:
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March 31, 2020
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December 31, 2019
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|
Warrants outstanding, beginning of period
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|
4,931,099
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|
3,436,431
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|
Assumed as part of Merger
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—
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1,044,939
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|
Granted
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—
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500,729
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Exercised
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—
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(51,000
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)
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Cancelled, forfeited or expired
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(115,953
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)
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|
—
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Warrants outstanding, end of period
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4,815,146
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|
4,931,099
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|
A summary of outstanding warrants by year issued and exercise price as of March 31, 2020 is presented below:
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Outstanding
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Exercisable
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Year issued and Exercise Price
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Number of
Warrants
Issued
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|
Weighted-Average
Remaining
Contractual
Life (Years)
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Weighted-Average
Exercise
Price
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Total
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Weighted-Average
Exercise
Price
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|
Prior to January 1, 2019
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$2.00-$10.76
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3,439,007
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2.38
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$
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4.38
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3,439,007
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$
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4.38
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|
Prior to Jan 1, 2019 Total
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3,439,007
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3,439,007
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At December 31, 2019
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$
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6.12
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32,391
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4.16
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$
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6.12
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32,391
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$
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6.12
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$
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12.00
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76,575
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3.48
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$
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12.00
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76,575
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$
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12.00
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$
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14.04
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174,999
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2.99
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$
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14.04
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174,999
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$
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14.04
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$
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31.50
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737,975
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2.32
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$
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31.50
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737,975
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$
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31.50
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$
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36.24
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22,333
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2.32
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$
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36.24
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22,333
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$
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36.24
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$
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60.00
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666
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0.75
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$
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60.00
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|
666
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$
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60.00
|
|
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$
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2.00
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256,200
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|
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3.56
|
|
|
$
|
2.00
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256,200
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|
$
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2.00
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$
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7.68
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75,000
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4.30
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$
|
7.68
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75,000
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|
$
|
7.68
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2019 Total
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1,376,139
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1,376,139
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At March 31, 2020
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Total
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4,815,146
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4,815,146
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| Schedule of stock option activity |
A summary of outstanding stock options as of March 31, 2020 and December 31, 2019 is presented below.
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March 31, 2020
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December 31, 2019
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Number of
Options
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Weighted‑
Average
Exercise
Price
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Number of
Options
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Weighted‑
Average
Exercise
Price
|
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Options outstanding, beginning of period
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7,245,350
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$
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4.68
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6,642,200
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$
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4.40
|
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Granted or deemed granted
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—
|
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$
|
—
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636,683
|
|
(a)
|
$
|
10.10
|
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|
Exercised
|
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|
—
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$
|
—
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(167
|
)
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$
|
5.00
|
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|
Cancelled, forfeited and expired
|
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—
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$
|
—
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(33,366
|
)
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$
|
11.29
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Options outstanding, end of period
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7,245,350
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$
|
4.68
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7,245,350
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$
|
4.68
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Options exercisable, end of period
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7,039,339
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$
|
4.51
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7,001,680
|
|
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$
|
4.47
|
|
|
Options available for future grant
|
|
|
2,167,150
|
|
|
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|
2,167,150
|
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|
(a)
|
Upon the Merger, the exercise prices of outstanding EMI options and number of shares of the Company common stock underlying the options were adjusted based upon the exchange ratio in the Merger.
|
|
| Schedule of change in fair value of warrant |
The following table presents the change in fair value of the GPB Warrant as of March 31, 2020 and December 31, 2019 (in thousands):
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Three Months Ended
|
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Year Ended
|
|
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Warrant Liability—GPB
|
|
March 31, 2020
|
|
|
December 31, 2019
|
|
|
Balance, beginning of period
|
|
$
|
38
|
|
|
$
|
1,399
|
|
|
Change in fair value included in the statement of comprehensive loss
|
|
|
(25
|
)
|
|
|
(1,361
|
)
|
|
Balance, end of period
|
|
$
|
13
|
|
|
$
|
38
|
|
|