Catheter Precision (VTAK) 10-Q 15 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 10, 2022
Cover [Abstract]
Entity Registrant Name	Ra Medical Systems, Inc.
Entity Central Index Key	0001716621
Document Type	10-Q
Document Period End Date	Jun. 30, 2022
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	RMED
Security Exchange Name	NYSEAMER
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		54,514,828
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Emerging Growth Company	true
Entity Small Business	true
Entity Ex Transition Period	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-38677
Entity Tax Identification Number	38-3661826
Entity Address, Address Line One	2070 Las Palmas Drive
Entity Address, City or Town	Carlsbad
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92011
City Area Code	760
Local Phone Number	804-1648
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current Assets
Cash and cash equivalents	$ 11,128	$ 15,045
Accounts receivable, net	17	21
Inventories	43	986
Prepaid expenses and other current assets	1,144	1,037
Total current assets	12,332	17,089
Property and equipment, net	38	1,809
Operating lease right-of-use assets	1,967	2,110
Other long-term assets	36	36
TOTAL ASSETS	14,373	21,044
Current Liabilities
Accounts payable	487	988
Accrued expenses	1,970	4,119
Current portion of operating lease liability	297	283
Total current liabilities	2,754	5,390
Operating lease liability	1,828	1,981
Total liabilities	4,582	7,371
Commitments and contingencies (Notes 12-14)
Stockholders’ Equity
Preferred stock, $0.0001 par value; 10,000 shares authorized; no shares issued
Common stock, $0.0001 par value; 300,000 shares authorized; 32,279 and 7,010 shares issued and outstanding as of June 30, 2022 and December 31, 2021, respectively	10	8
Additional paid-in capital	201,996	191,937
Accumulated deficit	(192,215)	(178,272)
Total stockholders’ equity	9,791	13,673
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 14,373	$ 21,044

Condensed Balance Sheets (Una_2

Condensed Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	300,000,000	300,000,000
Common stock, shares issued	32,279,000	7,010,000
Common stock, shares outstanding	32,279,000	7,010,000

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues
Total net revenues	$ 5	$ 9	$ 14	$ 13
Cost of revenues
Total cost of revenues	66	520	161	967
Gross loss	(61)	(511)	(147)	(954)
Operating expenses
Selling, general and administrative	2,476	3,398	4,778	7,075
Research and development	2,396	2,829	5,511	5,579
Restructuring and impairment (Note 13)	3,527		3,527
Total operating expenses	8,399	6,227	13,816	12,654
Operating loss	(8,460)	(6,738)	(13,963)	(13,608)
Other income, net	12	2,019	20	2,012
Loss from continuing operations before income taxes	(8,448)	(4,719)	(13,943)	(11,596)
Loss from continuing operations	(8,448)	(4,719)	(13,943)	(11,596)
Discontinued operations
Loss from discontinued operations before income taxes		(530)		(889)
Loss from discontinued operations		(530)		(889)
Net loss	$ (8,448)	$ (5,249)	$ (13,943)	$ (12,485)
Net loss per share, basic and diluted
Continuing operations, basic	$ (0.26)	$ (1.15)	$ (0.53)	$ (3.31)
Continuing operations, diluted	(0.26)	(1.15)	(0.53)	(3.31)
Discontinued operations, basic		(0.13)		(0.25)
Discontinued operations, diluted		(0.13)		(0.25)
Total net loss per share, basic	(0.26)	(1.28)	(0.53)	(3.56)
Total net loss per share, diluted	$ (0.26)	$ (1.28)	$ (0.53)	$ (3.56)
Weighted average number of shares used in computing net loss per share, basic	32,162	4,089	26,133	3,506
Weighted average number of shares used in computing net loss per share, diluted	32,162	4,089	26,133	3,506
Product Sales [Member]
Cost of revenues
Total cost of revenues	$ 11	$ 344	$ 42	$ 608
Service and Other [Member]
Cost of revenues
Total cost of revenues	$ 55	$ 176	$ 119	$ 359

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (13,943)	$ (12,485)
Adjustments to reconcile net loss to net cash used in operating activities:
Non-cash restructuring and impairment	2,943
Depreciation and amortization	322	881
Stock-based compensation	291	1,865
Loss (gain) on sales and disposals of property and equipment	44	(493)
Gain on extinguishment of promissory note		(2,023)
Changes in operating assets and liabilities:
Accounts receivable	4	10
Inventories	(57)	(108)
Prepaid expenses and other assets	(502)	(46)
Accounts payable	(501)	368
Accrued expenses	(3,039)	(2,359)
Other liabilities	(139)	(175)
Deferred revenue		(134)
Net cash used in operating activities	(14,577)	(14,699)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sales of property and equipment		534
Purchases of property and equipment		(76)
Net cash provided by investing activities		458
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of common stock and warrants	12,670	11,022
Payments of offering costs related to the issuance of common stock and warrants	(2,040)	(228)
Proceeds from exercise of warrants	25
Proceeds from issuance of common stock in connection with the employee stock purchase plan	5	26
Payments on equipment financing		(265)
Net cash provided by financing activities	10,660	10,555
NET CHANGE IN CASH AND CASH EQUIVALENTS	(3,917)	(3,686)
CASH AND CASH EQUIVALENTS, beginning of period	15,045	23,906
CASH AND CASH EQUIVALENTS, end of period	11,128	20,220
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Unpaid offering costs	$ 890	84
Unpaid property and equipment		109
Transfer of lasers from inventories to property and equipment		3
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash payments for interest		2
Cash payments for income taxes		$ 2

Condensed Statements of Stockho

Condensed Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit
Balances at Dec. 31, 2020	$ 21,147	$ 7	$ 174,342	$ (153,202)
Balance (in shares) at Dec. 31, 2020		3,189
Common stock issued, net	65		65
Common stock issued, net (in shares)		35
Stock-based compensation	1,169		1,169
Stock-based compensation (In shares)		35
Net loss	(7,236)			(7,236)
Balances at Mar. 31, 2021	15,145	$ 7	175,576	(160,438)
Balance (in shares) at Mar. 31, 2021		3,259
Balances at Dec. 31, 2020	21,147	$ 7	174,342	(153,202)
Balance (in shares) at Dec. 31, 2020		3,189
Net loss	(12,485)
Balances at Jun. 30, 2021	21,263	$ 7	186,943	(165,687)
Balance (in shares) at Jun. 30, 2021		5,903
Balances at Mar. 31, 2021	15,145	$ 7	175,576	(160,438)
Balance (in shares) at Mar. 31, 2021		3,259
Common stock issued, net	10,645		10,645
Common stock issued, net (in shares)		2,582
Common stock issued pursuant to the vesting of restricted stock units and purchases under the employee stock purchase plan	26		26
Common stock issued pursuant to the vesting of restricted stock units and purchases under the employee stock purchase plan (in shares)		6
Stock-based compensation	696		696
Stock-based compensation (In shares)		56
Net loss	(5,249)			(5,249)
Balances at Jun. 30, 2021	21,263	$ 7	186,943	(165,687)
Balance (in shares) at Jun. 30, 2021		5,903
Balances at Dec. 31, 2021	13,673	$ 8	191,937	(178,272)
Balance (in shares) at Dec. 31, 2021		7,010
Common stock and warrants issued, net	9,740	$ 2	9,738
Common stock and warrants issued, net (in shares)		25,248
Warrants exercised	25		25
Warrants exercised (in shares)		50
Restricted stock awards cancelled		(7)
Stock-based compensation	165		165
Net loss	(5,495)			(5,495)
Balances at Mar. 31, 2022	18,108	$ 10	201,865	(183,767)
Balance (in shares) at Mar. 31, 2022		32,301
Balances at Dec. 31, 2021	13,673	$ 8	191,937	(178,272)
Balance (in shares) at Dec. 31, 2021		7,010
Net loss	(13,943)
Balances at Jun. 30, 2022	9,791	$ 10	201,996	(192,215)
Balance (in shares) at Jun. 30, 2022		32,279
Balances at Mar. 31, 2022	18,108	$ 10	201,865	(183,767)
Balance (in shares) at Mar. 31, 2022		32,301
Common stock issued pursuant to the vesting of restricted stock units and purchases under the employee stock purchase plan	5		5
Common stock issued pursuant to the vesting of restricted stock units and purchases under the employee stock purchase plan (in shares)		19
Restricted stock awards cancelled		(41)
Stock-based compensation	126		126
Net loss	(8,448)			(8,448)
Balances at Jun. 30, 2022	$ 9,791	$ 10	$ 201,996	$ (192,215)
Balance (in shares) at Jun. 30, 2022		32,279

Organization

Organization	6 Months Ended
	Jun. 30, 2022
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	Note 1. Organization The Company Ra Medical Systems, Inc. (the “Company”) is a medical device company that owns intellectual property related to an advanced excimer laser-based platform for use in the treatment of vascular immune-mediated inflammatory diseases. Its excimer laser and single-use catheter system, together referred to as the DABRA Excimer Laser System, (“DABRA”), is used as a tool in the treatment of peripheral artery disease. The Company was formed on September 4, 2002 in the state of California and reincorporated in Delaware on July 14, 2018. Reduction in Force The Company previously disclosed that its board of directors was reviewing strategic alternatives with the goal of maximizing shareholder value. This review was triggered by the deteriorating macroeconomic environment and concerns regarding the Company’s ability to continue funding its clinical and engineering programs at levels consistent with the past few years. In conjunction with this review, on June 3, 2022, the board of directors approved a reduction in force (“RIF”) to preserve capital with the goal of maximizing the opportunities available to the Company during the board of directors’ review of strategic alternatives. See further discussion in Note 13. Restructuring and Impairment Charges Proposed Merger On June 18, 2022, the Company signed a non-binding summary of proposed terms (the “Term Sheet”) with Catheter Precision, Inc. (“Catheter Precision”) to acquire 100% of the outstanding equity interests of Catheter Precision (the “Merger”). Pursuant to the Term Sheet, the Company would acquire Catheter Precision in exchange for shares of the Company. The Merger would give the Company’s shareholders exposure to Catheter Precision’s innovative devices that are designed to improve treatment of cardiac arrhythmias, while allowing the combined company the ability to explore funding its strategic initiatives for the Catheter Precision devices through the public capital markets. The Company has not entered into a binding agreement with Catheter Precision with respect to the Merger transaction. The Company is currently completing its due diligence review of Catheter Precision and is continuing to negotiate the terms of a definitive merger agreement. Accordingly, the Company cannot provide any assurance that it will effect the Merger or, if it is able to consummate such a transaction, that the terms of any such Merger will be on the terms set forth in the Term Sheet or that the intended benefits of the Merger will be fully realized. Going Concern The Company has incurred recurring net losses from operations and negative cash flows from operating activities since inception. As of June 30, 2022, the Company had an accumulated deficit of $192.2 million. For the six months ended June 30, 2022, the Company used cash of $14.6 million in operating activities. As of June 30, 2022, the Company had cash and cash equivalents of $11.1 million. Management will continue to monitor operating costs and seek to reduce the Company’s current liabilities. Such actions may impair the Company’s ability to proceed with certain strategic activities, and the Company may be unsuccessful at negotiating existing liabilities, including its operating lease liability, to the Company’s benefit. If these efforts are unsuccessful or the Merger is not completed, the Company’s cash position could be negatively impacted and the Company may, among other things, be required to seek other sources of financing, consummate another strategic transaction or be required to liquidate assets and dissolve the Company Management believes that, based on the Company’s liquidity resources and the significant uncertainty regarding its future plans, there is substantial doubt about the Company’s ability to continue as a going concern for a period of at least 12 months from the date of issuance of the financial statements. The Company’s independent registered public accounting firm expressed substantial doubt regarding the Company’s ability to continue as a going concern in its report on the Company’s financial statements as of and for the year ended December 31, 2021. Although the Company improved its liquidity resources through a private placement in July 2022, resulting in net proceeds of $5.5 million and may receive additional funds from the exercise of its warrants depending on market conditions, management has concluded that the aforementioned conditions, including the ongoing uncertainty related to the negative impacts of the COVID-19 pandemic, continue to raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least 12 months from the date of issuance of the financial statements. Management plans to address this uncertainty by raising additional funds, if necessary, through public or private equity or debt financings as well as by engaging in regular and ongoing reviews of its strategic options to help ensure that the Company is focusing its cash resources on advancing its key corporate initiatives. However, the Company may not be able to secure such financing in a timely manner or on favorable terms, if at all. Furthermore, if the Company issues equity securities to raise additional funds, its existing stockholders may experience dilution, and the new equity securities may have rights, preferences and privileges senior to those of the Company’s existing stockholders. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and settlement of liabilities in the normal course of business, and do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or amounts and classification of liabilities that may result from the outcome of this uncertainty. COVID-19 The global effects of COVID-19 have created significant volatility, uncertainty and economic disruption. Although restrictions have been recently eased around the world, the COVID-19 pandemic is still ongoing, and the ultimate effects of COVID-19 on the Company’s business, operations and financial condition are unknown at this time. The Company expects that patient follow-up in its atherectomy clinical trial will continue to be affected by the uncertainty relating to COVID-19, as patients may continue to elect to postpone follow-up visits and physicians’ offices may intermittently close or operate at a reduced capacity in response to COVID-19. The Company’s facility located in Carlsbad, California is currently open. However, the extent to which COVID-19 impacts its business will depend on future developments which are highly uncertain and cannot be predicted, including new information which may emerge concerning the severity of COVID-19 and the actions to contain it or treat its impact, among others.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2. Significant Accounting Policies Basis of Presentation The unaudited interim condensed financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments of a normal and recurring nature that are necessary for the fair presentation of the Company’s condensed balance sheets, results of operations, cash flows and statements of stockholders’ equity for the periods presented. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any other future annual or interim period. The balance sheet as of December 31, 2021 included herein was derived from the audited financial statements as of that date. These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 24, 2022, and as amended on July 13, 2022. Use of Estimates The preparation of interim unaudited condensed financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”) Fair Value Measurements Fair value represents the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants and is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. A three-tier value hierarchy is used to identify inputs used in measuring fair value as follows: Level 1 – Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets; Level 2 – Inputs other than the quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities; and Level 3 – Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions. The hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value. Fair Value of Financial Instruments Cash and cash equivalents, trade accounts receivable, accounts payable, accrued expenses and other current assets and liabilities are reported on the balance sheets at carrying value which approximates fair value due to the short-term maturities of these instruments. Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined on a first-in, first-out basis. Cost includes materials, labor and manufacturing overhead related to the purchase and production of inventories. The Company reduces the carrying value of inventories for those items that are potentially excess or obsolete based on changes in customer demand, technological developments or other economic factors. Prior to June 6, 2022, catheters were manufactured in-house, and each catheter was tested at various stages of the manufacturing process for adherence to quality standards. Catheters that did not meet functionality specification at each test point were destroyed and immediately written off. Once manufactured, completed catheters that passed quality assurance were sent to a third-party for sterilization and sealed in a sterile container. Upon return from the third-party sterilizer, a sample of catheters from each batch was re-tested. If the sample tests were successful, the batch was accepted into finished goods inventory. If the sample tests were unsuccessful, the entire batch was written off. Impairment of Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If such circumstances are determined to exist, an estimate of undiscounted future cash flows produced by the long-lived assets, including its eventual residual values, is compared to the carrying value to determine whether impairment exists. In the event that such cash flows are not expected to be sufficient to recover the carrying amount of the assets, the assets are written down to their estimated fair values. Segment Information The Company operates its business in one segment which includes all activities related to the research, development and manufacture of the DABRA system. The chief operating decision-maker reviews the operating results on an aggregate basis and manages the operations as a single operating segment. Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting , Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) .

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2022
Payables And Accruals [Abstract]
Discontinued Operations	Note 3. Discontinued Operations The Company completed the sale of its Pharos dermatology business (the “Dermatology Business”) to STRATA Skin Sciences, Inc. (“Strata”) on August 16, 2021 for net proceeds of $3.7 million, resulting in a gain on the sale of the Dermatology Business of $3.5 million which was included as a component of income (loss) from discontinued operations in the statement of operations for the year ended December 31, 2021. The Dermatology Business was previously disclosed as a separate reportable segment of the Company. T he results of the Dermatology Business are reported as loss from discontinued operations in the condensed statement s of operations for the three and six months ended June 30 , 2021. Certain overhead costs previously allocated to the Dermatology Business for segment reporting purposes did not qualify for classification as discontinued operations and have been reallocated to continuing operations for the three and six months ended June 30 , 2021 . The following table summarizes the loss from discontinued operations in the condensed statements of operations for the periods presented (in thousands): Three Months Ended Six Months Ended June 30, 2021 Revenues $ 996 $ 2,109 Cost of revenues 967 1,894 Gross income 29 215 Operating expenses 532 1,034 Operating loss from discontinued operations (503 ) (819 ) Other expense, net (27 ) (70 ) Net loss from discontinued operations $ (530 ) $ (889 ) Depreciation expense for the Dermatology Business was $0.1 million and $0.2 million for the three and six months ended June 30, 2021, respectively. There were no capital expenditures for the Dermatology Business during the three and six months ended June 30, 2021. Stock-based compensation expense for the Dermatology Business was approximately $11,000 and $30,000 for the three and six months ended June 30, 2021, respectively. Stock-based compensation expense of approximately $33,000 and $71,000 was capitalized to inventory and property and equipment during the three and six months ended June 30, 2021, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4. Fair Value Measurements As of June 30, 2022 and December 31, 2021, cash equivalents of approximately $9.4 million were categorized as Level 1 and consisted of money market funds that were measured at fair value on a recurring basis.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Inventories	Inventories consisted of the following (in thousands): June 30, 2022 December 31, 2021 Raw materials $ — $ 911 Work in process — 70 Finished goods 43 5 Total inventories $ 43 $ 986 Due to the RIF and the Company’s decision to discontinue enrollment of patients in its clinical trial, the Company ceased manufacturing activities and disposed of substantially all inventories in July 2022, resulting in a write-down of $1.0 million in its inventories to net realizable value as of June 30, 2022. Such expense is included in restructuring and impairment charges in the condensed statements of operations for the three and six months ended June 30, 2022. See Note 13. Restructuring and Impairment Charges.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2022
Property Plant And Equipment Net [Abstract]
Property and Equipment	Note 6. Property and Equipment Property and equipment consisted of the following (in thousands): June 30, 2022 December 31, 2021 Furniture and fixtures $ 36 $ 48 Machinery and equipment 2 858 Lasers — 3,085 Computer hardware and software — 353 Construction in progress — 169 Leasehold improvements — 145 Property and equipment, gross 38 4,658 Accumulated depreciation — (2,849 ) Total property and equipment, net $ 38 $ 1,809 Depreciation expense was $0.1 million and $0.3 million for the three months ended June 30, 2022 and 2021, respectively, and $0.2 million and $0.7 million for the six months ended June 30, 2022 and 2021, respectively. Due to the Company’s decision to discontinue enrollment of patients in its clinical trial and the RIF, the Company has ceased manufacturing activities. The Company’s property and equipment was determined to be impaired as of June 30, 2022, resulting in an impairment charge of $1.5 million which was based on the actual cash proceeds received upon the disposal of the property and equipment in July 2022. The impairment charge of $1.5 million is included in restructuring and impairment charges in the condensed statements of operations for the three and six months ended June 30, 2022. See Note 13. Restructuring and Impairment Charges.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2022
Payables And Accruals [Abstract]
Accrued Expenses	Note 7. Accrued Expenses Accrued expenses consisted of the following (in thousands): June 30, 2022 December 31, 2021 Offering costs $ 890 $ — Compensation and related benefits 318 2,004 Warranty expenses 192 195 Restructuring charges 117 — Legal expenses 110 1,345 Other accrued expenses 343 575 Total accrued expenses $ 1,970 $ 4,119

Leases

Leases	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Leases	Note 8. Lease The Company has an operating lease for office and manufacturing space which requires it to pay base rent and certain utilities. Monthly rent expense is recognized on a straight-line basis over the term of the lease which expires in 2027. At June 30, 2022, the remaining lease term was 5.5 years. The operating lease is included in the condensed balance sheets at the present value of the lease payments at a 7% discount rate which approximates the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment, as the lease does not provide an implicit rate. For each of the three months ended June 30, 2022 and 2021, operating lease expense and cash paid for leases was $ de minimis . Maturities of operating lease liabilities as of June 30, 2022 (in thousands): Years Ending December 31, 2022 (remaining six months) $ 216 2023 445 2024 459 2025 472 2026 486 Thereafter 501 Total operating lease payments 2,579 Less: imputed interest (454 ) Total operating lease liability $ 2,125

Net Loss per Share

Net Loss per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Net Loss per Share	Note 9. Net Loss per Share Basic net loss per share is calculated by dividing the net loss by the weighted average number of common shares outstanding during the reporting period. A net loss cannot be diluted, so when the Company is in a net loss position, basic and diluted loss per common share are the same. If in the future the Company achieves profitability, the denominator of a diluted earnings per common share calculation will include both the weighted average number of shares outstanding and the number of common stock equivalents, if the inclusion of such common stock equivalents would be dilutive. Dilutive common stock equivalents include warrants, stock options, non-vested restricted stock units and employee stock purchase plan rights. The Company’s outstanding warrants to purchase common stock have participation rights to any dividends that may be declared in the future and are therefore considered to be participating securities. Participating securities have the effect of diluting both basic and diluted earnings per share during periods of income. During periods of loss, no loss is allocated to the participating securities since the holders have no contractual obligation to share in the losses of the Company. Anti-dilutive share equivalents excluded from the computation of diluted net loss per share at June 30, 2022 consisted of warrants of 56,329,950, stock options of 101,577, restricted stock awards of 79,988 and restricted stock units of 6,818. Anti-dilutive share equivalents excluded from the computation of diluted net loss per share at June 30, 2021 consisted of warrants of 2,345,033, stock options of 132,477, restricted stock awards of 355,598, restricted stock units of 54,924 and Employee Stock Purchase Plan shares of 10,557.

Equity Offerings

Equity Offerings	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Equity Offerings	Note 10. Equity Offerings On February 8, 2022, the Company completed a public offering (the “Offering”) in which it issued and sold (i) 9,535,000 shares of common stock, (ii) 24,002,893 warrants to purchase one share of common stock at an exercise price of $0.50 that were immediately exercisable and expire one year from the date of issuance, or Series A warrants, and (iii) 24,002,893 warrants to purchase one share of common stock at an exercise price of $0.50 that were immediately exercisable and expire seven years from the date of issuance, or Series B warrants, and (iv) 14,467,893 pre-funded warrants to purchase one share of common stock at an exercise price of $0.0001 per share that were immediately exercisable and expire twenty years from the date of issuance. In addition, the Company granted the underwriters of the Offering a 45-day option (the “Overallotment Option”) to purchase up to (i) 3,600,000 additional shares of common stock, (ii) 3,600,000 additional Series A warrants and/or (iii) 3,600,000 additional Series B warrants, solely to cover overallotments. The Series A warrants and Series B warrants were valued at approximately $11.6 million using the Black-Scholes option pricing model (the “Black-Scholes model”) based on the following assumptions: Series A Series B Risk-free interest rate 0.91 % 1.93 % Volatility 131.07 % 85.38 % Expected dividend yield 0.00 % 0.00 % Expected life (in years) 1.0 7.0 In addition, the Company issued 1,245,116 shares of common stock, 3,600,000 Series A warrants and 3,600,000 Series B warrants pursuant to the exercise of the Overallotment Option, resulting in cash proceeds of approximately $0.6 million, net of underwriting discounts. On various dates in February 2022 and March 2022, the Company issued 14,467,893 shares of common stock upon the exercise of all of the p re- f unded w arrants issued in the Offering. In addition, in March 2022 , the Company issued 50,000 shares of common stock in connection with the exercise of Series A w arrants issued in the Offering. Net proceeds from the Offering were approximately $9.7 million, after deducting underwriter commissions and fees and other offering fees paid or payable by the Company as of June 30, 2022. At June 30, 2022, the Company had 56,329,950 shares of common stock reserved for issuance pursuant to the warrants issued by the Company at a weighted average exercise price of $0.89. The Company is contractually obligated to pay a former placement agent a cash tail fee equal to 7.5% cash compensation for the gross proceeds raised in the Offering and to issue warrants equal to 7% of the number of shares of common stock sold in the Offering (the “Tail Fees”) to any investor contacted by the former placement agent during the term of its engagement with the Company. Thus, the Company is obligated to pay such placement agent a cash tail fee which it estimates to be approximately $0.9 million and to issue approximately 1.7 million warrants to purchase common stock at an exercise price of $0.625 per share, which represents 125% of the exercise price in the Offering. Such warrants would be immediately exercisable and expire five years from the date of issuance. These warrants were valued at approximately $0.4 million on February 8, 2022, using the Black-Scholes model based on the following assumptions: expected volatility of 93.25%, risk-free interest rate of 1.81%, expected dividend yield of 0% and an expected term of 5 years. The cash tail fees of $0.9 million are included in accrued expenses in the condensed balance sheet as of June 30, 2022. The warrants had not been issued by the Company as of June 30, 2022.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	Note 11. Stock-Based Compensation A summary of the activity and related data by award type under the 2018 Equity Incentive Plan and the 2020 Inducement Equity Incentive Plan (collectively, the “Plans”) for the six months ended June 30, 2022 is set forth below: Stock Options Stock Options Weighted Average Exercise Price Weighted Average Remaining Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2021 108,448 $ 345.54 Canceled/forfeited (6,871 ) $ 90.76 Outstanding at June 30, 2022 101,577 $ 362.77 3.83 $ — Exercisable at June 30, 2022 88,451 $ 412.48 3.27 $ — Vested and expected to vest at June 30, 2022 101,577 $ 362.77 3.83 $ — Restricted Stock Units Restricted Stock Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 70,025 $ 4.37 Vested (5,864 ) $ 12.17 Canceled/forfeited (57,343 ) $ 3.04 Outstanding at June 30, 2022 6,818 $ 8.88 Restricted Stock Awards Restricted Stock Awards Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 179,334 $ 4.71 Vested (63,284 ) $ 4.78 Canceled/forfeited (36,062 ) $ 4.31 Outstanding at June 30, 2022 79,988 The following table summarizes stock-based compensation expense for the Plans included in operating expenses for the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Selling, general and administrative $ 104 $ 530 $ 217 $ 1,473 Research and development 19 95 68 224 Stock-based compensation in operating expenses $ 123 $ 625 $ 285 $ 1,697 Stock-based compensation expense of approximately $3,000 and $27,000 was capitalized to inventory and property and equipment during the three months ended June 30, 2022 and 2021, respectively. Stock-based compensation expense of approximately $6,000 and $67,000 was capitalized to inventory and property and equipment during the six months ended June 30, 2022 and 2021, respectively. Unrecognized stock-based compensation expense by award type and the remaining weighted average recognition period over which such expense is expected to be recognized as of June 30, 2022 was as follows: Unrecognized Expense (in thousands) Remaining Weighted Average Recognition Period (in years) Stock options $ 190 1.5 Restricted stock awards $ 321 1.7 Restricted stock units $ 50 1.4

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	N ote 12. Commitments and Contingencies Securities Class Action and Shareholder Derivative Litigation Update On June 7, 2019, a putative securities class action complaint captioned Derr v. Ra Medical Systems, Inc., et al, The settlement provides for a payment to the plaintiff class of $10.0 million. The proposed settlement requires both preliminary and final approval by the court. On February 11, 2022, the court granted preliminary approval of the settlement, scheduled a hearing on final approval of the settlement for June 13, 2022, and denied the pending motion to dismiss without prejudice. On May 2, 2022, plaintiffs filed a motion for final approval of the settlement and plan of allocation, and lead counsel filed a motion for an award of attorneys’ fees and reimbursement of litigation expenses. On June 9, 2022, the court entered an order continuing the hearing on final approval of the settlement from June 13, 2022 to August 15, 2022. Should the court not provide final approv al of the proposed settlement or if the proposed settlement otherwise does not become final, the parties will be returned to their litigation postures prior to the execution of the stipulation of settlement. Should the Company ultimately be found liable, the liability could have a material adverse effect on the Company’s financial condition and its results of operations for the period or periods in which such determination is made . On October 1, 2019, a shareholder derivative complaint captioned Noel Borg v. Dean Irwin, et al Settlement Agreements with the Department of Justice and Participating States As previously announced on December 28, 2020, the Company entered into a Settlement Agreement with the U.S., acting through the Department of Justice and on behalf of the Office of Inspector General, and other settlement agreements with certain state attorneys general to resolve investigations and a related civil action concerning its marketing of the DABRA laser system and DABRA-related remuneration to certain physicians. Pursuant to the terms of the Settlement Agreement and the agreements with the participating states, (a) if the Company’s revenue exceeds $10 million in any of fiscal years 2021-2024, the Company also is required to pay for the corresponding year: $500,000 for 2021, $750,000 for 2022, $1 million for 2023, and $1.25 million for 2024; (b) if the Company is acquired or is otherwise involved in a change in control transaction before the end of 2024, the Company is required to pay an additional settlement amount of $5 million, plus 4% of the value attributed to the Company in the transaction, so long as the attributed value is in excess of $100 million, with the total change in control payment never to exceed $28 million; and (c) if the Company’s obligations under the Settlement Agreement are avoided by bankruptcy, the U.S. may rescind the releases and bring an action against the Company in which the Company agrees is not subject to an automatic stay, is not subject to any statute of limitations, estoppel or laches defense, and is a valid claim in the amount of $56 million, minus any prior change in control payments. Other Litigation In the normal course of business, the Company is at times subject to pending and threatened legal actions. In management’s opinion, any potential loss resulting from the resolution of these matters will not have a material effect on the results of operations, financial position or cash flows of the Company.

Restructuring and Impairment Ch

Restructuring and Impairment Charges	6 Months Ended
	Jun. 30, 2022
Restructuring And Related Activities [Abstract]
Restructuring and Impairment Charges	Note 13. Restructuring and Impairment Charges During the three months ended June 30, 2022, the Company incurred restructuring and impairment charges of approximately $3.5 million as set forth below: Impairment of property and equipment $ 1,548 Inventory obsolescence 1,000 Severance expense 584 Prepaid expenses 395 Total restructuring and impairment charges $ 3,527 The RIF was effective on June 6, 2022 and impacted approximately 65% of the Company’s full-time employees, resulting in one-time severance payments of $0.6 million. Certain non-terminated employees were offered conditional retention arrangements for a period of approximately 60-120 days to allow for evaluation and monitoring of the Company’s near-term personnel needs based in part on its financial status and the board of directors’ review of strategic alternatives. In addition, the Company decided to discontinue enrollment of patients in its clinical trial, cease manufacturing activities, sell or dispose of substantially all of its property and equipment, inventories and research and development supplies, resulting in impairment and inventory obsolescence charges and the write-off of research and development supplies totaling $2.9 million. As of June 30, 2022, the accrued liability balance related to severance expense was $ 0.1 million and is included in accrued e xpenses in the accompanying condensed balance sheet at June 30, 2022 . The Company expects to terminate certain employees who accepted retention arrangements under the RIF in August 2022, resulting in additional severance expense of approximately $ 0.2 million. The restructuring charges related to prepaid expenses are for supplies that would have been expensed when used for research and development.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events Proposed Merger As of the date of this filing, the terms of the Merger with Catheter Precision are under negotiation. The Company cannot provide any assurance that it will effect the Merger or, even if it is able to consummate such a Merger, that the terms of any such Merger will be on the terms set forth in the Term Sheet or that the intended benefits of the Merger will be fully realized. The consummation of the Merger will also be subject to specified conditions precedent to closing that must be satisfied or waived, including certain conditions to closing that are subject to the approval or consent of third parties. The Company cannot provide any assurance that all of the conditions to closing will be satisfied or waived or that it will receive any of the required third party consents or approvals or be able to satisfy or waive all the conditions precedent to closing necessary to consummate the Merger. If the conditions precedent to closing are not satisfied or waived in a timely manner or at all, the Merger may not occur or may be delayed, and the Company may lose some or all of the intended benefits of the Merger with Catheter Precision. Warrant Repricing On July 22, 2022, the Company reduced the exercise price of all outstanding warrants, consisting of Series A warrants and Series B warrants, that were issued in the February 2022 public offering from $0.50 per share to $0.28 per share (the “Warrant Repricing”). Following the Warrant Repricing, the Company entered into warrant inducement offer letters (the “Inducement Letters”) with certain investors to immediately exercise all of the Series A warrants and Series B warrants held by such investors. In response to the Inducement Letters, investors exercised approximately 22.2 million Series A warrants and no Series B warrants. Investors who exercised their Series A warrants received Series C warrants to purchase 100% of the shares exercised pursuant to the Series A warrants with an exercise price of $0.28 and a term of five years. The Company received net proceeds of approximately $5.5 million, after issuance costs of approximately $0.7 million, from the exercises of the Series A warrants. The Series C warrants and the shares underlying the Series C warrants are unregistered and were issued in a private placement pursuant to Section 4(a)(2) of the Securities Act. The Warrant Repricing resulted in an immediate and incremental increase of approximately $2.3 million in the estimated fair value of the Series A warrants and Series B warrants which will be reported in the statement of stockholders’ equity for the three months ended September 30, 2022. Based on the Black-Scholes model, the Company estimated the fair value of the Series C warrants issued to be approximately $2.3 million. The Company may be obligated to pay a former placement agent Tail Fees on the proceeds received from the Series A warrant exercises and the issuance of the Series C warrants. As a result, the Company may be obligated to pay a cash fee of approximately $0.5 million and issue approximately 1.6 million warrants to purchase common stock at an exercise price of $0.35 per share which represents 125% of the exercise price of the Series C warrants. Such warrants were valued at approximately $0.2 million on the issuance date of the Series C warrants and would be immediately exercisable and expire five years from their issuance date. These warrants had not been issued by the Company as of the date of this filing. 510(k) Clearance On July 5, 2022, the Company received U.S. Food and Drug Administration 510(k) clearance for its DABRA 2.0 catheter as part of the DABRA Excimer Laser System. This next-generation DABRA catheter features enhancements, including a braided over jacket design that’s intended to improve deliverability and kink resistance when navigating tortuous anatomy, as well as a six-month shelf life.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The unaudited interim condensed financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments of a normal and recurring nature that are necessary for the fair presentation of the Company’s condensed balance sheets, results of operations, cash flows and statements of stockholders’ equity for the periods presented. The results of operations for the three and six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022 or for any other future annual or interim period. The balance sheet as of December 31, 2021 included herein was derived from the audited financial statements as of that date. These unaudited condensed financial statements should be read in conjunction with the Company’s audited financial statements included in the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 24, 2022, and as amended on July 13, 2022.
Use of Estimates	Use of Estimates The preparation of interim unaudited condensed financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”)
Fair Value Measurements	Fair Value Measurements Fair value represents the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants and is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. A three-tier value hierarchy is used to identify inputs used in measuring fair value as follows: Level 1 – Observable inputs that reflect quoted market prices (unadjusted) for identical assets or liabilities in active markets; Level 2 – Inputs other than the quoted prices in active markets that are observable either directly or indirectly in the marketplace for identical or similar assets and liabilities; and Level 3 – Unobservable inputs that are supported by little or no market data, which require the Company to develop its own assumptions. The hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Cash and cash equivalents, trade accounts receivable, accounts payable, accrued expenses and other current assets and liabilities are reported on the balance sheets at carrying value which approximates fair value due to the short-term maturities of these instruments.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value. Cost is determined on a first-in, first-out basis. Cost includes materials, labor and manufacturing overhead related to the purchase and production of inventories. The Company reduces the carrying value of inventories for those items that are potentially excess or obsolete based on changes in customer demand, technological developments or other economic factors. Prior to June 6, 2022, catheters were manufactured in-house, and each catheter was tested at various stages of the manufacturing process for adherence to quality standards. Catheters that did not meet functionality specification at each test point were destroyed and immediately written off. Once manufactured, completed catheters that passed quality assurance were sent to a third-party for sterilization and sealed in a sterile container. Upon return from the third-party sterilizer, a sample of catheters from each batch was re-tested. If the sample tests were successful, the batch was accepted into finished goods inventory. If the sample tests were unsuccessful, the entire batch was written off.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. If such circumstances are determined to exist, an estimate of undiscounted future cash flows produced by the long-lived assets, including its eventual residual values, is compared to the carrying value to determine whether impairment exists. In the event that such cash flows are not expected to be sufficient to recover the carrying amount of the assets, the assets are written down to their estimated fair values.
Segment Information	Segment Information The Company operates its business in one segment which includes all activities related to the research, development and manufacture of the DABRA system. The chief operating decision-maker reviews the operating results on an aggregate basis and manages the operations as a single operating segment.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting , Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40) .

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Summary of Loss from Discontinued Operations	The following table summarizes the loss from discontinued operations in the condensed statements of operations for the periods presented (in thousands): Three Months Ended Six Months Ended June 30, 2021 Revenues $ 996 $ 2,109 Cost of revenues 967 1,894 Gross income 29 215 Operating expenses 532 1,034 Operating loss from discontinued operations (503 ) (819 ) Other expense, net (27 ) (70 ) Net loss from discontinued operations $ (530 ) $ (889 )

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following (in thousands): June 30, 2022 December 31, 2021 Raw materials $ — $ 911 Work in process — 70 Finished goods 43 5 Total inventories $ 43 $ 986

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property Plant And Equipment Net [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following (in thousands): June 30, 2022 December 31, 2021 Furniture and fixtures $ 36 $ 48 Machinery and equipment 2 858 Lasers — 3,085 Computer hardware and software — 353 Construction in progress — 169 Leasehold improvements — 145 Property and equipment, gross 38 4,658 Accumulated depreciation — (2,849 ) Total property and equipment, net $ 38 $ 1,809

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2022
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): June 30, 2022 December 31, 2021 Offering costs $ 890 $ — Compensation and related benefits 318 2,004 Warranty expenses 192 195 Restructuring charges 117 — Legal expenses 110 1,345 Other accrued expenses 343 575 Total accrued expenses $ 1,970 $ 4,119

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities as of June 30, 2022 (in thousands): Years Ending December 31, 2022 (remaining six months) $ 216 2023 445 2024 459 2025 472 2026 486 Thereafter 501 Total operating lease payments 2,579 Less: imputed interest (454 ) Total operating lease liability $ 2,125

Equity Offerings (Tables)

Equity Offerings (Tables)	6 Months Ended
	Jun. 30, 2022
Series A Warrants and Series B Warrants
Schedule of Black-Scholes Option Pricing Model Based on Assumptions	The Series A warrants and Series B warrants were valued at approximately $11.6 million using the Black-Scholes option pricing model (the “Black-Scholes model”) based on the following assumptions: Series A Series B Risk-free interest rate 0.91 % 1.93 % Volatility 131.07 % 85.38 % Expected dividend yield 0.00 % 0.00 % Expected life (in years) 1.0 7.0

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2022
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Options Activity	Stock Options Stock Options Weighted Average Exercise Price Weighted Average Remaining Life (in years) Aggregate Intrinsic Value (in thousands) Outstanding at December 31, 2021 108,448 $ 345.54 Canceled/forfeited (6,871 ) $ 90.76 Outstanding at June 30, 2022 101,577 $ 362.77 3.83 $ — Exercisable at June 30, 2022 88,451 $ 412.48 3.27 $ — Vested and expected to vest at June 30, 2022 101,577 $ 362.77 3.83 $ —
Schedule of Restricted Stock Units Activity	Restricted Stock Units Restricted Stock Units Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 70,025 $ 4.37 Vested (5,864 ) $ 12.17 Canceled/forfeited (57,343 ) $ 3.04 Outstanding at June 30, 2022 6,818 $ 8.88
Schedule of Restricted Stock Awards Activity	Restricted Stock Awards Restricted Stock Awards Weighted Average Grant Date Fair Value Outstanding at December 31, 2021 179,334 $ 4.71 Vested (63,284 ) $ 4.78 Canceled/forfeited (36,062 ) $ 4.31 Outstanding at June 30, 2022 79,988
Schedule of Stock-based Compensation Expense Included in Operating Expenses	The following table summarizes stock-based compensation expense for the Plans included in operating expenses for the periods presented (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Selling, general and administrative $ 104 $ 530 $ 217 $ 1,473 Research and development 19 95 68 224 Stock-based compensation in operating expenses $ 123 $ 625 $ 285 $ 1,697
Schedule of Unrecognized Estimated Stock Based Compensation Expense by Award Type	Unrecognized stock-based compensation expense by award type and the remaining weighted average recognition period over which such expense is expected to be recognized as of June 30, 2022 was as follows: Unrecognized Expense (in thousands) Remaining Weighted Average Recognition Period (in years) Stock options $ 190 1.5 Restricted stock awards $ 321 1.7 Restricted stock units $ 50 1.4

Restructuring and Impairment _2

Restructuring and Impairment Charges (Tables)	6 Months Ended
	Jun. 30, 2022
Restructuring And Related Activities [Abstract]
Schedule of Restructuring and Impairment Charges	During the three months ended June 30, 2022, the Company incurred restructuring and impairment charges of approximately $3.5 million as set forth below: Impairment of property and equipment $ 1,548 Inventory obsolescence 1,000 Severance expense 584 Prepaid expenses 395 Total restructuring and impairment charges $ 3,527

Organization - Additional Infor

Organization - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jul. 31, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 18, 2022	Dec. 31, 2021
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Accumulated deficit		$ 192,215			$ 178,272
Proceeds from exercise of warrants		25
Cash and cash equivalents		11,128			$ 15,045
Net cash used in operating activities		$ 14,577	$ 14,699
Subsequent Event [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Proceeds from exercise of warrants	$ 5,500
Catheter Precision Inc [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of outstanding equity interests acquire				100%

Significant Accounting Polici_3

Significant Accounting Policies - Additional Information (Details) - Segment	6 Months Ended
	Jun. 30, 2022	Jan. 01, 2022
Accounting Policies [Line Items]
Number of operating segments	1
ASU 2020-06 [Member]
Accounting Policies [Line Items]
Change in Accounting Principle, Accounting Standards Update, Adoption Date		Jan. 01, 2022
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]		true
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]		true

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - Dermatology [Member] - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2021	Aug. 16, 2021
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Depreciation expense	$ 100,000	$ 200,000
Capital expenditure	0	0
Stock based compensation expense	11,000	30,000
Stock based compensation expense capitalized to inventory and property and equipment	$ 33,000	$ 71,000
Disposition by Sale [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain on disposition of business			$ 3,500,000
Discontinued Operations [Member] | Disposition by Sale [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Cash on disposition of business				$ 3,700,000

Discontinued Operations - Summa

Discontinued Operations - Summary of Loss from Discontinued Operations in Condensed Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Discontinued Operations And Disposal Groups [Abstract]
Revenues	$ 996	$ 2,109
Cost of revenues	967	1,894
Gross income	29	215
Operating expenses	532	1,034
Operating loss from discontinued operations	(503)	(819)
Other expense, net	(27)	(70)
Net loss from discontinued operations	$ (530)	$ (889)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Money Market Funds [Member] | Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value disclosure of cash equivalents	$ 9.4	$ 9.4

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials		$ 911
Work in process		70
Finished goods	$ 43	5
Total inventories	$ 43	$ 986

Inventories - Additional Inform

Inventories - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Inventory [Line Items]
Inventory write-down	$ 1,000
Restructuring and Impairment Charges [Member]
Inventory [Line Items]
Inventory write-down	$ 1,000	$ 1,000

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 38	$ 4,658
Accumulated depreciation		(2,849)
Total property and equipment, net	38	1,809
Furniture and Fixtures [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	36	48
Machinery and Equipment [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross	$ 2	858
Lasers [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross		3,085
Computer Hardware and Software [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross		353
Construction in Progress [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross		169
Leasehold Improvements [Member]
Property Plant And Equipment [Line Items]
Property and equipment, gross		$ 145

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Property Plant And Equipment [Line Items]
Depreciation expense	$ 100,000	$ 300,000	$ 200,000	$ 700,000
Impairment of long-lived assets to be disposed of			1,500,000
Restructuring costs and asset impairment charges			2,943,000
Property, Plant and Equipment [Member]
Property Plant And Equipment [Line Items]
Restructuring costs and asset impairment charges	$ 1,500		$ 1,500

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Payables And Accruals [Abstract]
Offering costs	$ 890
Compensation and related benefits	318	$ 2,004
Warranty expenses	192	195
Restructuring charges	117
Legal expenses	110	1,345
Other accrued expenses	343	575
Total accrued expenses	$ 1,970	$ 4,119

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Operating Leased Assets [Line Items]
Operating lease, discount rate	7%		7%
Operating lease, remaining lease term	5 years 6 months		5 years 6 months
Operating lease , cash payment	$ 0.1	$ 0.1	$ 0.2	$ 0.3
Operating lease right-of-use-assets amortization	$ 0.1	$ 0.1	$ 0.1	$ 0.2
Office and Manufacturing Space [Member]
Operating Leased Assets [Line Items]
Lease expiration period			2027

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Leases [Abstract]
2022 (remaining six months)	$ 216
2023	445
2024	459
2025	472
2026	486
Thereafter	501
Total operating lease payments	2,579
Less: imputed interest	(454)
Total operating lease liability	$ 2,125

Net Loss per Share - Additional

Net Loss per Share - Additional Information (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Loss allocated to participating securities	$ 0
Stock Options [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive share equivalents excluded from computation of diluted net loss per share	101,577	132,477
Warrants [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive share equivalents excluded from computation of diluted net loss per share	56,329,950	2,345,033
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive share equivalents excluded from computation of diluted net loss per share	6,818	54,924
Restricted Stock Awards (RSAs) [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive share equivalents excluded from computation of diluted net loss per share	79,988	355,598
Employee Stock Purchase Plan [Member]
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive share equivalents excluded from computation of diluted net loss per share		10,557

Equity Offerings - Additional I

Equity Offerings - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended		6 Months Ended
	Feb. 08, 2022	Mar. 31, 2022	Feb. 28, 2022	Jun. 30, 2022
Class Of Stock [Line Items]
Warrants issued price per share				$ 0.625
Warrants expire period				5 years
Valuation of warrants	$ 0.4
Common stock reserve for issuance				56,329,950
Common stock, weighted average exercise price				$ 0.89
Percentage of cash compensation for gross proceeds raised				7.50%
Percentage of number of common shares sold to issue warrants				7%
Number of warrants to issue for purchase of common stock				1,700,000
Percentage of warrants exercise price in the offering				125%
Expected Volatility	93.25%
Risk-free interest rate	1.81%
Expected dividend yield	0%
Expected term (In Years)	5 years
Accrued Expenses
Class Of Stock [Line Items]
Cash fee for placement agent				$ 0.9
Offering
Class Of Stock [Line Items]
Common stock issued (in shares)	9,535,000
Stock issued during period, warrants exercised		50,000
Proceeds from issuance of common stock				$ 9.7
Offering | Series A Warrants
Class Of Stock [Line Items]
Common stock issued (in shares)	24,002,893
Equity offering description	warrants to purchase one share of common stock
Warrants issued price per share	$ 0.50
Warrants expire period	1 year
Stock issued during period, warrants exercised		50,000
Offering | Series B Warrants
Class Of Stock [Line Items]
Common stock issued (in shares)	24,002,893
Equity offering description	warrants to purchase one share of common stock
Warrants issued price per share	$ 0.50
Warrants expire period	7 years
Offering | Pre-Funded Warrants
Class Of Stock [Line Items]
Common stock issued (in shares)	14,467,893
Equity offering description	warrants to purchase one share of common stock
Warrants issued price per share	$ 0.0001
Warrants expire period	20 years
Stock issued during period, warrants exercised		14,467,893	14,467,893
Offering | Series A Warrants and Series B Warrants
Class Of Stock [Line Items]
Valuation of warrants	$ 11.6
Overallotment Option
Class Of Stock [Line Items]
Common stock issued (in shares)	1,245,116
Overallotment option period	45 days
Cash proceeds	$ 0.6
Overallotment Option | Maximum
Class Of Stock [Line Items]
Common stock issued (in shares)	3,600,000
Overallotment Option | Series A Warrants
Class Of Stock [Line Items]
Common stock issued (in shares)	3,600,000
Overallotment Option | Series A Warrants | Maximum
Class Of Stock [Line Items]
Common stock issued (in shares)	3,600,000
Overallotment Option | Series B Warrants
Class Of Stock [Line Items]
Common stock issued (in shares)	3,600,000
Overallotment Option | Series B Warrants | Maximum
Class Of Stock [Line Items]
Common stock issued (in shares)	3,600,000

Equity Offerings - Schedule of

Equity Offerings - Schedule of Black-Scholes Option Pricing Model Based on Assumptions (Details) - Offering	Feb. 08, 2022
Series A
Class Of Stock [Line Items]
Risk-free interest rate	0.91%
Volatility	131.07%
Expected dividend yield	0%
Expected life (in years)	1 year
Series B
Class Of Stock [Line Items]
Risk-free interest rate	1.93%
Volatility	85.38%
Expected dividend yield	0%
Expected life (in years)	7 years

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Options Activity (Details) - Plans [Member] - Stock Options [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Options outstanding
Beginning balance | shares	108,448
Canceled/forfeited | shares	(6,871)
Ending balance | shares	101,577
Exercisable at end of the period | shares	88,451
Vested and expected to vest at end of the period | shares	101,577
Weighted Average Exercise Price
Beginning balance | $ / shares	$ 345.54
Canceled/forfeited | $ / shares	90.76
Ending balance | $ / shares	362.77
Exercisable at the end of period | $ / shares	412.48
Vested and expected to vest at the end of period | $ / shares	$ 362.77
Weighted Average Remaining Life (in years)
Weighted Average Remaining Life (in years)	3 years 9 months 29 days
Exercisable at the end of the period	3 years 3 months 7 days
Vested and expected to vest at the end of the period	3 years 9 months 29 days

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Restricted Stock Units Activity (Details) - Plans [Member] - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Restricted Stock Units
Beginning balance | shares	70,025
Vested | shares	(5,864)
Canceled/forfeited | shares	(57,343)
Ending balance | shares	6,818
Weighted Average Grant Date Fair Value
Beginning balance | $ / shares	$ 4.37
Vested | $ / shares	12.17
Canceled/forfeited | $ / shares	3.04
Ending balance | $ / shares	$ 8.88

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Restricted Stock Awards Activity (Details) - Plans [Member] - Restricted Stock Awards (RSAs) [Member]	6 Months Ended
	Jun. 30, 2022 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Beginning balance	179,334
Vested	(63,284)
Canceled/forfeited	(36,062)
Ending balance	79,988
Beginning balance | $ / shares	$ 4.71
Vested | $ / shares	4.78
Canceled/forfeited | $ / shares	$ 4.31

Stock-Based Compensation - Sc_4

Stock-Based Compensation - Schedule of Stock-based Compensation Expense Included in Operating Expenses (Details) - Plans [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation in operating expenses	$ 123	$ 625	$ 285	$ 1,697
Selling, General and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation in operating expenses	104	530	217	1,473
Research and Development [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Stock-based compensation in operating expenses	$ 19	$ 95	$ 68	$ 224

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation			$ 291,000	$ 1,865,000
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation	$ 3,000	$ 27,000	$ 6,000	$ 67,000

Stock-Based Compensation - Sc_5

Stock-Based Compensation - Schedule of Unrecognized Estimated Stock Based Compensation Expense by Award Type (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Expense	$ 190
Remaining Weighted Average Recognition Period	1 year 6 months
Restricted Stock Awards (RSAs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Expense	$ 321
Remaining Weighted Average Recognition Period	1 year 8 months 12 days
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized Expense	$ 50
Remaining Weighted Average Recognition Period	1 year 4 months 24 days

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)				3 Months Ended		6 Months Ended
	Mar. 18, 2022	Nov. 12, 2021	Dec. 28, 2020	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Loss Contingencies [Line Items]
Revenue				$ 5,000	$ 9,000	$ 14,000	$ 13,000
Settlement Agreement
Loss Contingencies [Line Items]
Settlement amount , year 2021			$ 500,000
Settlement year one			2021
Settlement amount , year 2022			$ 750,000
Settlement year two			2022
Settlement amount , year 2023			$ 1,000,000
Settlement year three			2023
Settlement amount , year 2024			$ 1,250,000
Settlement year four			2024
Business acquisition, settlement amount			$ 5,000,000
Business acquisition additional settlement percentage			4%
Business acquisition, transaction costs			$ 100,000,000
Business acquisition change In control payments			28,000,000
Settlement claim			56,000,000
Settlement Agreement | Maximum
Loss Contingencies [Line Items]
Revenue			$ 10,000,000
Securities Class Action and Shareholder Derivative Litigation
Loss Contingencies [Line Items]
Settlement provided for a payment to plaintiff class		$ 10,000,000
Litigation settlement amount	$ 600,000

Restructuring and Impairment _3

Restructuring and Impairment Charges - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	6 Months Ended
	Jun. 06, 2022	Jun. 30, 2022	Jun. 30, 2022	Aug. 10, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring and impairment charges		$ 3,500
One-time severance payments		584
One-time impairment and inventory obsolescence charges and write-off of research and development supplies			$ 2,900
Severance expense		$ 100	$ 100
Subsequent Event [Member]
Restructuring Cost and Reserve [Line Items]
Additional severance expense				$ 200
Maximum
Restructuring Cost and Reserve [Line Items]
Non-terminated employees offered condition retention period			120 days
Maximum | Board of Directors [Member]
Restructuring Cost and Reserve [Line Items]
Percentage of full time employees terminated	65%
Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Non-terminated employees offered condition retention period			60 days

Restructuring and Impairment _4

Restructuring and Impairment Charges - Schedule of Restructuring and Impairment Charges (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Restructuring And Related Activities [Abstract]
Impairment of property and equipment	$ 1,548
Inventory obsolescence	1,000
Severance expense	584
Prepaid expenses	395
Total restructuring and impairment charges	$ 3,527	$ 3,527

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended	6 Months Ended
	Jul. 22, 2022	Feb. 08, 2022	Sep. 30, 2022	Jun. 30, 2022	Feb. 28, 2022
Subsequent Event [Line Items]
Warrants issued price per share				$ 0.625
Issuance of warrants to purchase common stock				1,700,000
Percentage of warrants exercise price in the offering				125%
Valuation of warrants		$ 0.4
Warrants expire period				5 years
Series A Warrants and Series B Warrants [Member] | February 2022 Public Offering [Member]
Subsequent Event [Line Items]
Warrants issued price per share					$ 0.28
Subsequent Event [Member] | Series A Warrants and Series B Warrants [Member] | February 2022 Public Offering [Member]
Subsequent Event [Line Items]
Warrants issued price per share	$ 0.50
Subsequent Event [Member] | Series A Warrants
Subsequent Event [Line Items]
Warrants issued price per share	$ 0.28
Stock issued during period, warrants exercised	22,200,000
Percentage of shares exercised	100%
Warrants exercise period	5 years
Proceeds from issuance of common stock	$ 5.5
Issuance costs	$ 0.7
Subsequent Event [Member] | Series B Warrants
Subsequent Event [Line Items]
Stock issued during period, warrants exercised	0
Subsequent Event [Member] | Series A Warrants and Series B Warrants
Subsequent Event [Line Items]
Estimated fair value of warrants			$ 2.3
Subsequent Event [Member] | Series C Warrants [Member]
Subsequent Event [Line Items]
Warrants issued price per share			$ 0.35
Estimated fair value of warrants			$ 2.3
Cash fee for placement agent			$ 0.5
Issuance of warrants to purchase common stock			1,600,000
Percentage of warrants exercise price in the offering			125%
Valuation of warrants			$ 0.2
Warrants expire period			5 years