Quarterly Financial Information (Unaudited) | 14. Quarterly Financial Information (Unaudited) As further described in Note 2, the previously reported financial information for the three months ended March 31, 2022, the three and six months ended June 30, 2022 and the three and nine months ended September 30, 2022, have been restated. Relevant restated financial information for each relevant period is included in this Annual Report on Form 10-K in the tables that follow. As part of the restatement, the Company recorded adjustments to correct the misstatements in the impacted periods. Descriptions of the restatement can be found in Note 2. The unaudited interim financial statements reflect all adjustments which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. Restated amounts are computed independently each quarter; therefore, the sum of the quarterly amounts may not equal the total amount for the respective year due to rounding. Balance Sheets March 31, 2022 (unaudited) June 30, 2022 (unaudited) September 30, 2022 (unaudited) As Previously As Previously As Previously Reported Adjustment As Restated Reported Adjustment As Restated Reported Adjustment As Restated Assets Current assets: Cash and cash equivalents $ 3,743 $ — $ 3,743 $ 13,027 $ — $ 13,027 $ 6,145 $ — $ 6,145 Accounts receivable, net 1,665 — 1,665 2,087 — 2,087 3,711 — 3,711 Income taxes receivable 4,675 — 4,675 — — — — — — Inventory, net 2,693 — 2,693 2,340 — 2,340 1,797 — 1,797 Prepaid expenses and other current assets 1,576 — 1,576 1,016 — 1,016 3,834 — 3,834 Total current assets 14,352 — 14,352 18,470 — 18,470 15,487 — 15,487 Property and equipment, net 12,047 — 12,047 11,524 — 11,524 203 — 203 Right of use asset 888 — 888 825 — 825 761 — 761 Other non-current assets 2,012 — 2,012 2,012 — 2,012 2,012 — 2,012 Total assets $ 29,299 $ — $ 29,299 $ 32,831 $ — $ 32,831 $ 18,463 $ — $ 18,463 Liabilities and stockholders’ equity Current liabilities: Long-term debt, current portion $ 12,252 — $ 12,252 $ 12,630 — $ 12,630 $ 1,318 — $ 1,318 Accounts payable 9,537 — 9,537 12,036 — 12,036 4,906 — 4,906 Accrued expenses 3,828 — 3,828 3,877 — 3,877 5,152 — 5,152 Lease liability, current portion 231 — 231 239 — 239 277 — 277 Total current liabilities 25,848 — 25,848 28,782 — 28,782 11,653 — 11,653 Lease liabilities, long-term 708 — 708 630 — 630 550 — 550 Warrant liability — 8,101 8,101 — 1,050 1,050 — 9,285 9,285 Total liabilities 26,556 8,101 34,657 29,412 1,050 30,462 12,203 9,285 21,488 Commitments and contingencies (Note 13) Stockholders’ equity Preferred stock, $.0001 par value, 10,000,000 shares authorized, 4,850 issued and no shares outstanding at December 31, 2022 and no shares issued and outstanding at December 31, 2021 887 (887) — — — — — — — Common stock, $.0001 par value, 300,000,000 shares authorized, 42,970,134 and 3,034,901 issued and outstanding at December 31, 2022 and December 31, 2021, respectively * — — — 1 — 1 4 — 4 Additional paid-in capital * 400,742 (12,425) 388,317 414,523 (13,312) 401,211 437,027 (35,283) 401,744 Accumulated deficit (398,886) 5,211 (393,675) (411,105) 12,262 (398,843) (430,771) 25,998 (404,773) Total stockholders’ equity 2,743 (8,101) (5,358) 3,419 (1,050) 2,369 6,260 (9,285) (3,025) Total liabilities and stockholders’ equity $ 29,299 $ — $ 29,299 $ 32,831 $ — $ 32,831 $ 18,463 $ — $ 18,463 * Adjustment reflected as a result of the 1 Quarterly and Year to Date Statements of Operations and Comprehensive Loss Three Months Ended Three Months Ended Three Months Ended March 31, 2022 (unaudited) June 30, 2022 (unaudited) September 30, 2022 (unaudited) As Previously Reported Adjustment As Restated As Previously Reported Adjustment As Restated As Previously Reported Adjustment As Restated Revenues, net $ 1,761 $ — $ 1,761 $ 2,126 $ — $ 2,126 $ 3,002 $ — $ 3,002 Cost of product revenues 1,527 — 1,527 2,231 — 2,231 1,425 — 1,425 Gross profit (loss) 234 — 234 (105) — (105) 1,577 — 1,577 Operating expenses: Research and development $ 1,257 $ — $ 1,257 $ 856 $ — $ 856 $ 788 $ — $ 788 Selling and marketing 10,553 — 10,553 7,411 — 7,411 5,560 — 5,560 General and administrative 3,997 — 3,997 3,026 — 3,026 2,815 — 2,815 Loss on disposition of assets — — — — — — 11,122 — 11,122 Total operating expenses 15,807 — 15,807 11,293 — 11,293 20,285 — 20,285 Loss from operations (15,573) — (15,573) (11,398) — (11,398) (18,708) — (18,708) Other income (expense) Interest income 1 — 1 2 — 2 46 — 46 Interest expense (872) — (872) (823) — (823) (1,004) — (1,004) Unrealized gain on warrant liability — 1,384 1,384 — 7,051 7,051 — 13,736 13,736 Total other income (expense), net (871) 1,384 513 (821) 7,051 6,230 (958) 13,736 12,778 Loss before benefit from income taxes (16,444) 1,384 (15,060) (12,219) 7,051 (5,168) (19,666) 13,736 (5,930) Benefit from income taxes 4,675 — 4,675 — — — — — — Net loss $ (11,769) $ 1,384 $ (10,385) $ (12,219) $ 7,051 $ (5,168) $ (19,666) $ 13,736 $ (5,930) Net loss per share (basic and diluted) $ (3.78) $ 0.44 $ (3.33) $ (2.71) $ 1.56 $ (1.15) $ (0.53) $ 0.37 $ (0.16) Weighted-average common shares (basic and diluted) 3,115,211 3,115,211 3,115,211 4,510,219 4,510,219 4,510,219 36,997,836 36,997,836 36,997,836 Comprehensive loss: Net loss $ (11,769) $ 1,384 $ (10,385) $ (12,219) $ 7,051 $ (5,168) $ (19,666) $ 13,736 $ (5,930) Other comprehensive income: Unrealized (loss) gain on marketable securities — — — — — — — — — Comprehensive loss $ (11,769) $ 1,384 $ (10,385) $ (12,219) $ 7,051 $ (5,168) $ (19,666) $ 13,736 $ (5,930) Six Months Ended Nine Months Ended June 30, 2022 (unaudited) September 30, 2022 (unaudited) As Previously Reported Adjustment As Restated As Previously Reported Adjustment As Restated Revenues, net $ 3,887 $ — $ 3,887 $ 6,888 $ — $ 6,888 Cost of product revenues 3,758 — 3,758 5,183 — 5,183 Gross profit (loss) 129 — 129 1,705 — 1,705 Operating expenses: Research and development $ 2,113 $ — $ 2,113 $ 2,901 $ — $ 2,901 Selling and marketing 17,964 — 17,964 23,523 — 23,523 General and administrative 7,023 — 7,023 9,837 — 9,837 Loss on disposition of assets — — — 11,122 — 11,122 Total operating expenses 27,100 — 27,100 47,383 — 47,383 Loss from operations (26,971) — (26,971) (45,678) — (45,678) Other income (expense) Interest income 3 — 3 50 — 50 Interest expense (1,695) — (1,695) (2,699) — (2,699) Unrealized gain on warrant liability — 8,435 8,435 — 22,171 22,171 Total other income (expense), net (1,692) 8,435 6,743 (2,649) 22,171 19,522 Loss before benefit from income taxes (28,663) 8,435 (20,228) (48,327) 22,171 (26,156) Benefit from income taxes 4,675 — 4,675 4,675 — 4,675 Net loss $ (23,988) $ 8,435 $ (15,553) $ (43,652) $ 22,171 $ (21,481) Net loss per share (basic and diluted) $ (6.29) $ 2.21 $ (4.08) $ (2.91) $ 1.48 $ (1.43) Weighted-average common shares (basic and diluted) 3,816,569 3,816,569 3,816,569 14,998,534 14,998,534 14,998,534 Comprehensive loss: Net loss $ (23,988) $ 8,435 $ (15,553) $ (43,652) $ 22,171 $ (21,481) Other comprehensive income: Unrealized (loss) gain on marketable securities — — — — — — Comprehensive loss $ (23,988) $ 8,435 $ (15,553) $ (43,652) $ 22,171 $ (21,481) Statements of Changes in Stockholders’ Equity (Unaudited) Preferred Stock Common Stock Additional Accumulated Total Number of Number of Paid-in Other Comprehensive Accumulated Stockholders' Shares Amount Shares * Amount Capital * Income Deficit Equity As Previously Reported Balance December 31, 2021 — $ — 3,034,901 $ — $ 396,388 $ — $ (387,117) $ 9,271 Share-based compensation - stock options and RSUs — — — — 764 — — 764 Issuance of common stock pursuant to at-the market stock sales, net of expenses — — 25,623 — 348 — — 348 Issuance of series A and B convertible preferred stock in a registered direct offering (Note 8) 4,850 4,850 — — — — — 4,850 Registered direct financing costs, inclusive of warrants — (965) — — 244 — — (721) Conversion of series A convertible preferred stock (2,425) (897) 303,125 — 897 — — — Vesting of RSUs — — 1,773 — — — — — Warrants issued in connection with registered direct offering — (2,101) — — 2,101 — — — Net loss — — — — — — (11,769) (11,769) Balance March 31, 2022 2,425 $ 887 3,365,422 $ — $ 400,742 $ — $ (398,886) $ 2,743 Adjustment Balance December 31, 2021 — — — — (9,183) — 3,827 (5,356) Share-based compensation - stock options and RSUs — — — — — — — — Issuance of common stock pursuant to at-the market stock sales, net of expenses — — — — — — — — Issuance of series A and B convertible preferred stock in a registered direct offering (Note 8) — (4,850) — — — — — (4,850) Registered direct financing costs, inclusive of warrants — 965 — — (244) — — 721 Conversion of series A convertible preferred stock — 897 — — (897) — — — Vesting of RSUs — — — — — — — — Warrants issued in connection with registered direct offering — 2,101 — — (2,101) — — — Net loss — — — — — — 1,384 1,384 Total Adjustment March 31, 2022 — $ (887) — $ — $ (12,425) $ — $ 5,211 $ (8,101) As Restated Balance December 31, 2021 — $ — 3,034,901 $ — $ 387,205 $ — $ (383,290) $ 3,915 Share-based compensation - stock options and RSUs — — — — 764 — — 764 Issuance of common stock pursuant to at-the market stock sales, net of expenses — — 25,623 — 348 — — 348 Issuance of series A and B convertible preferred stock in a registered direct offering (Note 8) 4,850 — — — — — — — Registered direct financing costs, inclusive of warrants — — — — — — — — Conversion of series A convertible preferred stock (2,425) — 303,125 — — — — — Vesting of RSUs — — 1,773 — — — — — Warrants issued in connection with registered direct offering — — — — — — — — Net loss — — — — — — (10,385) (10,385) Balance March 31, 2022 2,425 $ — 3,365,422 $ — $ 388,317 $ — $ (393,675) $ (5,358) Statements of Changes in Stockholders’ Equity (Unaudited) Preferred Stock Common Stock Additional Accumulated Total Number of Number of Paid-in Other Comprehensive Accumulated Stockholders' Shares Amount Shares * Amount Capital * Income Deficit Equity As Previously Reported Balance March 31, 2022 2,425 $ 887 3,365,422 $ — $ 400,742 $ — $ (398,886) $ 2,743 Share-based compensation - stock options and RSUs — — — — 669 — — 669 Fractional shares retired as a result of reverse split — — (10) — — — — — Issuance of common stock pursuant to at-the market stock sales, net of expenses — — 8,687,502 1 12,225 — — 12,226 Conversion of series B convertible preferred stock (2,425) (887) 303,125 — 887 — — — Vesting of RSUs — — 4,118 — — — — — Net loss — — — — — — (12,219) (12,219) Balance June 30, 2022 — $ — 12,360,157 $ 1 $ 414,523 $ — $ (411,105) $ 3,419 Adjustment Balance March 31, 2022 — (887) — — (12,425) — 5,211 (8,101) Share-based compensation - stock options and RSUs — — — — — — — — Fractional shares retired as a result of reverse split — — — — — — — — Issuance of common stock pursuant to at-the market stock sales, net of expenses — — — — — — — — Conversion of series B convertible preferred stock — 887 — — (887) — — — Vesting of RSUs — — — — — — — — Net loss — — — — — — 7,051 7,051 Balance June 30, 2022 — $ — — $ — $ (13,312) $ — $ 12,262 $ (1,050) As Restated Balance March 31, 2022 2,425 $ — 3,365,422 $ — $ 388,317 $ — $ (393,675) $ (5,358) Share-based compensation - stock options and RSUs — — — — 669 — — 669 Fractional shares retired as a result of reverse split — — (10) — — — — — Issuance of common stock pursuant to at-the market stock sales, net of expenses — — 8,687,502 1 12,225 — — 12,226 Conversion of series B convertible preferred stock (2,425) — 303,125 — — — — — Vesting of RSUs — — 4,118 — — — — — Net loss — — — — — — (5,168) (5,168) Balance June 30, 2022 — $ — 12,360,157 $ 1 $ 401,211 $ — $ (398,843) $ 2,369 * Adjustment reflected as a result of the 1 . Statements of Changes in Stockholders’ Equity (Unaudited) Preferred Stock Common Stock Additional Accumulated Total Number of Number of Paid-in Other Comprehensive Accumulated Stockholders' Shares Amount Shares * Amount Capital * Income Deficit Equity As Previously Reported Balance June 30, 2022 — $ — 12,360,157 $ 1 $ 414,523 $ — $ (411,105) $ 3,419 Share-based compensation - stock options and RSUs — — — — 536 — — 536 Issuance of common stock pursuant to a public offering, net of expenses — — 26,666,666 3 21,968 — — 21,971 Net loss — — — — — — (19,666) (19,666) Balance September 30, 2022 — — 39,026,823 $ 4 $ 437,027 $ — $ (430,771) $ 6,260 Adjustment Balance June 30, 2022 — — — — (13,312) — 12,262 (1,050) Share-based compensation - stock options and RSUs — — — — — — — — Issuance of common stock pursuant to a public offering, net of expenses — — — — (21,971) — — (21,971) Net loss — — — — — — 13,736 13,736 Balance September 30, 2022 — — — $ — $ (35,283) $ — $ 25,998 $ (9,285) As Restated Balance June 30, 2022 — $ — 12,360,157 $ 1 $ 401,211 $ — $ (398,843) $ 2,369 Share-based compensation - stock options and RSUs — — — — 536 — — 536 Issuance of common stock pursuant to a public offering, net of expenses — — 26,666,666 3 (3) — — — Net loss — — — — — — (5,930) (5,930) Balance September 30, 2022 — — 39,026,823 $ 4 $ 401,744 $ — $ (404,773) $ (3,025) * Adjustment reflected as a result of the 1 Statements of Cash Flows Three Months Ended Six Months Ended Nine Months Ended March 31, 2022 (unaudited) June 30, 2022 (unaudited) September 30, 2022 (unaudited) As Previoulsy Reported Adjustment As Restated As Previoulsy Reported Adjustment As Restated As Previoulsy Reported Adjustment As Restated Cash flows from operating activities: Net loss $ (11,769) $ 1,384 $ (10,385) $ (23,988) $ 8,435 $ (15,553) $ (43,652) $ 22,171 $ (21,481) Adjustments to reconcile net loss to net cash used in operating activities: Noncash inventory reserve — — — — — — — — — Depreciation 527 — 527 1,057 — 1,057 1,255 — 1,255 Amortization 61 — 61 124 — 124 188 — 188 Loss on disposition of assets — — — — — 11,122 — 11,122 Noncash stock-based compensation 764 — 764 1,433 — 1,433 1,969 — 1,969 Noncash amortization of deferred financing costs 419 — 419 797 — 797 1,635 — 1,635 Unrealized gain on warrants — (1,384) (1,384) — (8,435) (8,435) (22,171) (22,171) Changes in operating assets and liabilities: — Accounts receivable (132) — (132) (554) — (554) (2,178) — (2,178) Income taxes receivable (4,675) (4,675) — — — Inventory (1,727) — (1,727) (1,374) — (1,374) (831) — (831) Prepaid expenses and other assets 707 — 707 1,267 — 1,267 (1,551) — (1,551) Accounts payable and accrued expenses 1,095 — 1,095 3,643 — 3,643 (2,213) — (2,213) Lease liability (21) — (21) (90) — (90) (132) — (132) Net cash used in operating activities (14,751) — (14,751) (17,685) — (17,685) (34,388) — (34,388) Cash flows from investing activities: Purchases of marketable securities — — — — — — — — — Sales and maturities of marketable securities — — — — — — — — — Acquisition of property and equipment (126) — (126) (133) — (133) (133) — (133) Net cash (used in) provided by investing activities (126) — (126) (133) — (133) (133) — (133) Cash flows from financing activities: Proceeds from issuance of preferred stock in registered direct offering, net of offering costs 4,129 — 4,129 4,129 — 4,129 4,129 — 4,129 Proceeds from issuance of common stock in public offering, net of offering costs — — — — — 21,971 — 21,971 Proceeds from At-the-Market sales of common stock, net of offering costs 348 — 348 12,573 — 12,573 12,573 — 12,573 Proceeds from issuance of long-term debt — — — — — — — — — Repayments of long-term debt (5,000) — (5,000) (5,000) — (5,000) (17,150) — (17,150) Debt financing costs paid — — — — — — — — — Proceeds from exercise of stock options — — — — — — — — — Net cash provided by financing activities (523) — (523) 11,702 — 11,702 21,523 — 21,523 Net (decrease) increase in cash and cash equivalents (15,400) — (15,400) (6,116) — (6,116) (12,998) — (12,998) Cash and cash equivalents, beginning of period 19,143 — 19,143 19,143 — 19,143 19,143 — 19,143 Cash and cash equivalents, end of period $ 3,743 $ — $ 3,743 $ 13,027 $ — $ 13,027 $ 6,145 $ — $ 6,145 Supplemental cash flow information Interest paid $ 452 $ — $ 452 $ 898 $ — $ 898 $ 1,078 $ — $ 1,078 |