Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Jul. 22, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001289850 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding | 5,628,907 | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Entity Current Reporting Status | Yes | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Security Exchange Name | NASDAQ | |
Trading Symbol | NURO | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-33351 | |
Entity Registrant Name | NEUROMETRIX, INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Address, Postal Zip Code | 01801 | |
Local Phone Number | 890-9989 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Tax Identification Number | 04-3308180 | |
Entity Address, Address Line One | 4B Gill Street | |
Entity Address, City or Town | Woburn | |
Entity Address, State or Province | MA | |
City Area Code | 781 | |
Title of 12(b) Security | Common Stock, $0.0001 par value per share |
Balance Sheets
Balance Sheets - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 8,364,197 | $ 5,226,213 |
Accounts receivable, net | 457,033 | 334,297 |
Inventories | 1,029,154 | 1,051,282 |
Prepaid expenses and other current assets | 180,838 | 478,074 |
Total current assets | 10,031,222 | 7,089,866 |
Fixed assets, net | 187,256 | 183,494 |
Operating Lease, Right-of-Use Asset | 522,131 | 692,692 |
Other long-term assets | 28,284 | 28,523 |
Total assets | 10,768,893 | 7,994,575 |
Current liabilities: | ||
Accounts payable | 289,760 | 142,316 |
Accrued expenses and compensation | 790,427 | 998,442 |
Accrued Sales Return provisions | 45,000 | 545,000 |
Operating Lease, Liability, Current | 457,682 | 599,632 |
Total current liabilities | 1,582,869 | 2,285,390 |
Operating Lease, Liability, Noncurrent | 350,895 | 461,410 |
Total liabilities | 1,933,764 | 2,746,800 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Common Stock, Value, Issued | 505 | 379 |
Additional paid-in capital | 206,307,790 | 202,129,195 |
Accumulated deficit | (197,473,167) | (196,881,800) |
Total stockholders’ equity | 8,835,129 | 5,247,775 |
Total liabilities and stockholders’ equity | $ 10,768,893 | $ 7,994,575 |
Common Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 |
Common Stock, Shares Authorized | 25,000,000 | 25,000,000 |
Common Stock, Shares, Issued | 5,046,198 | 3,793,739 |
Common Stock, Shares, Outstanding | 5,046,198 | 3,793,739 |
Convertible preferred stock | ||
Stockholders’ equity: | ||
Preferred stock | $ 1 | $ 1 |
Total stockholders’ equity | 1 | 1 |
Preferred Non-Convertible Stock | ||
Stockholders’ equity: | ||
Preferred stock | $ 0 | $ 0 |
Statements of Operations (Unaud
Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 2,213,499 | $ 1,359,979 | $ 4,368,971 | $ 3,532,015 |
Other Nonoperating Income | 379 | 1,051 | 791 | 1,549 |
Net loss | $ (531,584) | $ (851,944) | $ (591,367) | $ (1,509,315) |
Earnings Per Share, Diluted | $ (0.13) | $ (0.28) | $ (0.15) | $ (0.68) |
Earnings Per Share, Basic | $ (0.13) | $ (0.28) | $ (0.15) | $ (0.68) |
Loss from operations | $ (531,963) | $ (852,995) | $ (592,158) | $ (1,510,864) |
Net income (loss) applicable to common stockholders: | ||||
Weighted Average Number of Shares Outstanding, Basic | 4,155,948 | 3,014,523 | 3,977,028 | 2,235,874 |
Operating expenses: | ||||
Research and development | $ 641,525 | $ 660,278 | $ 874,802 | $ 1,193,898 |
Sales and marketing | 269,493 | 379,113 | 663,318 | 803,462 |
General and administrative | 1,276,223 | 678,497 | 2,288,499 | 1,930,243 |
Total operating expenses | 2,187,241 | 1,717,888 | 3,826,619 | 3,927,603 |
Gross profit | 1,655,278 | 864,893 | 3,234,461 | 2,416,739 |
Cost of revenues | $ 558,221 | $ 495,086 | $ 1,134,510 | $ 1,115,276 |
Statements of Cash Flows (Unaud
Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Statement of Cash Flows [Abstract] | ||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $ (591,367) | $ (1,509,315) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 79,511 | 45,589 |
Stock-based compensation | 388,726 | 272,909 |
CompensationObligationSettlement | 0 | 43,751 |
IdleFacilityImpairmentCharge | 126,748 | 204,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (122,736) | (108,694) |
Inventories | 22,128 | (28,284) |
Increase (Decrease) In Collaboration Receivable | 0 | 7,678 |
Prepaid expenses and other current and long-term assets | 28,823 | 465,630 |
Accounts payable | 147,444 | (534,823) |
Accrued expenses and compensation | (148,015) | (599,201) |
Increase (Decrease) in Accrued Product Returns | (500,000) | (91,000) |
Net Cash Provided by (Used in) Operating Activities | (568,738) | (1,831,760) |
Cash flows from investing activities: | ||
Purchases of fixed assets | (83,273) | (10,500) |
Net Cash Provided by (Used in) Investing Activities | (83,273) | (10,500) |
Cash flows from financing activities: | ||
Net proceeds from issuance of stock and warrants | 3,789,995 | 4,151,037 |
Proceeds from Issuance of Debt | 0 | 773,200 |
Repayments of Debt | 0 | (773,200) |
Net Cash Provided by (Used in) Financing Activities | 3,789,995 | 4,151,037 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | 3,137,984 | 2,308,777 |
Cash and cash equivalents, end of period | 8,364,197 | |
Supplemental disclosure of cash flow information: | ||
Stock Issuance Settle Incentive Compensation Obligation | 0 | 43,751 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $ 8,364,197 | $ 5,434,983 |
Equity Rollforward Statement
Equity Rollforward Statement - USD ($) | Total | Convertible Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] |
Stockholders' Equity Attributable to Parent | $ 2,530,234 | $ 1 | $ 140 | $ 197,319,698 | $ (194,789,605) |
Shares, Outstanding | 200 | 1,400,674 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 144,047 | 144,047 | |||
Stock Issued During Period, Shares, New Issues | 256,078 | ||||
Stock Issued During Period, Value, New Issues | 453,457 | $ 25 | 453,432 | ||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture | 31,000 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture | 43,751 | $ 3 | 43,748 | ||
Net Income (Loss) Attributable to Parent | (657,371) | (657,371) | |||
Net Income (Loss) Attributable to Parent | (1,509,315) | ||||
Stockholders' Equity Attributable to Parent | 2,514,118 | $ 1 | $ 168 | 197,960,925 | (195,446,976) |
Shares, Outstanding | 200 | 1,687,752 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 128,862 | 128,862 | |||
Stock Issued During Period, Shares, New Issues | 2,092,541 | ||||
Stock Issued During Period, Value, New Issues | 3,689,974 | $ 209 | 3,689,765 | ||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 4,364 | ||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 7,606 | $ 1 | 7,605 | ||
Net Income (Loss) Attributable to Parent | (851,944) | (851,944) | |||
Stockholders' Equity Attributable to Parent | 5,488,616 | $ 1 | $ 378 | 201,787,157 | (196,298,920) |
Shares, Outstanding | 200 | 3,784,657 | |||
Stockholders' Equity Attributable to Parent | 5,247,775 | $ 1 | $ 379 | 202,129,195 | (196,881,800) |
Shares, Outstanding | 200 | 3,793,739 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 68,863 | 68,863 | |||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 2,408 | ||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 4,197 | $ 1 | 4,196 | ||
Net Income (Loss) Attributable to Parent | (59,783) | (59,783) | |||
Net Income (Loss) Attributable to Parent | (591,367) | ||||
Stockholders' Equity Attributable to Parent | 5,261,052 | $ 1 | $ 380 | 202,202,254 | (196,941,583) |
Shares, Outstanding | 200 | 3,796,147 | |||
APIC, Share-based Payment Arrangement, Increase for Cost Recognition | 319,863 | 319,863 | |||
Stock Issued During Period, Shares, New Issues | 1,207,681 | ||||
Stock Issued During Period, Value, New Issues | 3,766,848 | $ 121 | 3,766,727 | ||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 7,055 | ||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | 18,950 | $ 1 | 18,949 | ||
Stock Issued During Period, Value, Restricted Stock Award, Gross | 0 | $ (3) | (3) | ||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 13,911 | ||||
Net Income (Loss) Attributable to Parent | (531,584) | (531,584) | |||
Stockholders' Equity Attributable to Parent | $ 8,835,129 | $ 1 | $ 505 | $ 206,307,790 | $ (197,473,167) |
Shares, Outstanding | 200 | 5,024,794 |
Business and Basis of Presentat
Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Business and Basis of Presentation | Business and Basis of Presentation Our Business-An Overview NeuroMetrix, Inc. (the Company) is an innovation-driven company focused on the development and global commercialization of non-invasive medical devices for the diagnosis and treatment of pain and neurological disorders. Revenues are derived from the sale of medical devices and after-market consumable products and accessories. The Company’s products are cleared by the U.S. Food and Drug Administration (FDA) and regulators in foreign jurisdictions where appropriate. The Company has three commercial products. DPNCheck ® is a diagnostic device that provides rapid, point-of-care detection of peripheral neuropathies. ADVANCE ® is a diagnostic device that provides automated, in-office nerve conduction studies for the evaluation of focal neuropathies. Quell ® is a wearable neurostimulation device indicated for symptomatic relief of lower extremity chronic pain that is available over-the-counter. Unaudited Interim Financial Statements The accompanying unaudited balance sheet as of June 30, 2021, unaudited statements of operations, changes in stockholders' equity for the quarters and six months ended June 30, 2021 and 2020 and cash flows for the six months ended June 30, 2021 and 2020 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. The accompanying balance sheet as of December 31, 2020 has been derived from audited financial statements prepared at that date but does not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of management, the financial statements include all normal and recurring adjustments considered necessary for a fair presentation of the Company’s financial position and operating results. Operating results for the six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021 or any other period. These financial statements and notes should be read in conjunction with the financial statements for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, or the SEC, on January 29, 2021 (File No. 001-33351). Revenues Revenues include product sales, net of estimated returns. Revenue is measured as the amount of consideration the Company expects to receive in exchange for product transferred. Revenue is recognized when contractual performance obligations have been satisfied and control of the product has been transferred to the customer. In most cases, the Company has a single product delivery performance obligation. Accrued product returns are estimated based on historical data and evaluation of current information. Accounts receivable are recorded at the amount the Company expects to collect, net of the allowance for doubtful accounts receivable. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses based on customer past payment history, product usage activity, and recent communications with the customer. Individual customer balances which are over 90 days past due are reviewed individually for collectability and written-off when recovery is not probable. Allowance for doubtful accounts was $25,000 as of June 30, 2021 and December 31, 2020. One customer accounted for 26% and 31% of total revenues in the quarter and six months ended June 30, 2021, respectively. Three customers accounted for 42% and one customer accounted for 20% of total revenues in the quarter and six months ended June 30, 2020, respectively. Two customers accounted for 25% and two customers accounted for 50% of accounts receivable as of June 30, 2021 and December 31, 2020, respectively. Stock-based Compensation Total compensation cost related to non-vested awards not yet recognized at June 30, 2021 was $302,249. The total compensation costs are expected to be recognized over a weighted-average period of 1.1 years. Liquidity Our principal source of liquidity is cash and cash equivalents of $8.4 million at June 30, 2021. In addition to our cash resources, funding for our operations largely depends on revenues from the sale of our commercial products. A low level of market interest in our products, a decline in our consumables sales, unanticipated increases in our operating costs, and the effects of the COVID-19 pandemic could have an adverse effect on our liquidity and cash. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during reporting periods. Actual results could differ from those estimates. |
Comprehensive Loss
Comprehensive Loss | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Comprehensive Loss | Comprehensive Loss For the quarters and six months ended June 30, 2021 and 2020, the Company had no components of other comprehensive loss other than net loss itself. |
Net Loss Per Common Share
Net Loss Per Common Share | 6 Months Ended |
Jun. 30, 2021 | |
Earnings Per Share [Abstract] | |
Net Loss Per Common Share | Net Loss Per Common Share Basic and dilutive net loss per common share were as follows: Quarters Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net loss applicable to common stockholders $ (531,584) $ (851,944) $ (591,367) $ (1,509,315) Weighted average number of common shares outstanding, basic and dilutive 4,155,948 3,014,523 3,977,028 2,235,874 Net loss per common share applicable to common stockholders, basic and diluted $ (0.13) $ (0.28) $ (0.15) $ (0.68) Shares underlying the following potentially dilutive weighted average number of common stock equivalents were excluded from the calculation of diluted net loss per common share because their effect was anti-dilutive for each of the periods presented: Quarters Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Options 439,410 163,481 404,156 163,774 Warrants — 27,287 — 34,686 Convertible preferred stock 62 62 62 62 Total 439,472 190,830 404,218 198,522 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Quarters Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net loss applicable to common stockholders $ (531,584) $ (851,944) $ (591,367) $ (1,509,315) Weighted average number of common shares outstanding, basic and dilutive 4,155,948 3,014,523 3,977,028 2,235,874 Net loss per common share applicable to common stockholders, basic and diluted $ (0.13) $ (0.28) $ (0.15) $ (0.68) |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2021 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories Inventories consist of the following: June 30, 2021 December 31, 2020 Purchased components $ 755,578 $ 716,848 Finished goods 273,576 334,434 $ 1,029,154 $ 1,051,282 |
Accrued Expenses
Accrued Expenses | 6 Months Ended |
Jun. 30, 2021 | |
Payables and Accruals [Abstract] | |
Accrued Expenses | Accrued Expenses and Compensation Accrued expenses and compensation consist of the following: June 30, 2021 December 31, 2020 Professional services $ 173,000 $ 343,000 Compensation 354,422 49,837 Advertising and promotion 1,000 31,000 Warranty 37,600 49,600 Technology fees — 450,000 Leasehold 60,000 — Sales tax 127,775 24,493 Other 36,630 50,512 $ 790,427 $ 998,442 |
Leases Leases (Notes)
Leases Leases (Notes) | 6 Months Ended |
Jun. 30, 2021 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | Operating Leases The Company's lease on its Woburn, Massachusetts corporate office and manufacturing facilities (the “Woburn Lease”) extends through September 2025 with a monthly base rent of $13,846 and a 5-year extension option. The Company's lease on its former corporate office in Waltham, Massachusetts (the "Waltham Lease") extends through February 2022 with an average monthly base rent of $41,074 and a 5-year extension option. A letter of credit in the amount of $226,731, secured by the Company's cash balances, was issued by a bank in favor on the Waltham Lease landlord. While the Company continues to actively seek a sublet for the Waltham Lease under difficult market conditions, the Company has written off the value of its right-to-use asset in the Waltham facility. The impairment charges recorded within the Company's Statement of Operations for the quarters ended June 30, 2021 and 2020 were zero and $117,000, respectively and $126,748 and $204,000 for the six months ended June 30, 2021 and 2020, respectively. Future minimum lease payments under non-cancellable operating leases as of June 30, 2021 are as follows: 2021 $ 327,580 2022 247,347 2023 165,785 2024 165,785 2025 117,431 Total minimum lease payments $ 1,023,928 Weighted-average discount rate, 14.7% $ 215,351 Lease obligation, current portion 457,682 Lease obligation, net of current portion 350,895 $ 1,023,928 Total recorded rent expense was $57,453 and $166,905, for the quarters ended June 30, 2021 and 2020, respectively. Total recorded rent expense was $224,357 and $333,809, for the six months ended June 30. 2021 and 2020, respectively. The Company records rent expense on its facility leases on a straight-line basis over the lease term. Weighted average remaining operating lease term was 2.9 years as of June 30, 2021. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis for the periods presented and indicates the fair value hierarchy of the valuation techniques it utilized to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities. Fair values determined by Level 2 inputs utilize data points that are observable such as quoted prices, interest rates, and yield curves. Fair values determined by Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. All Company assets and liabilities measured at fair value utilize Level 1 inputs. Fair Value Measurements at June 30, 2021 Using June 30, 2021 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 5,463,532 $ 5,463,532 $ — $ — Total $ 5,463,532 $ 5,463,532 $ — $ — Fair Value Measurements at December 31, 2020 Using December 31, 2020 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 2,374,216 $ 2,374,216 $ — $ — Total $ 2,374,216 $ 2,374,216 $ — $ — |
Stockholders' Equity
Stockholders' Equity | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Stockholders' Equity | Stockholders’ Equity Preferred stock and convertible preferred stock consist of the following: June 30, 2021 December 31, 2020 Preferred stock, $0.001 par value; 5,000,000 shares authorized at June 30, 2021 and December 31, 2020; no shares issued and outstanding at June 30, 2021 and December 31, 2020 $ — $ — Series B convertible preferred stock, $0.001 par value; 147,000 shares designated at June 30, 2021 and December 31, 2020; 200 shares issued and outstanding at June 30, 2021 and December 31, 2020 $ 1 $ 1 2021 equity activity In January 2021, the Company issued 2,408 shares of fully vested common stock, par value $0.0001 per share ("common stock"), with a value of $4,197 pursuant to the Company's 2010 Employee Stock Purchase Plan. In May 2021, the Company issued 42,808 shares of restricted common stock with a value of $125,000 under its 2004 Stock Option Plan. As of June 30, 2021, 13,911 were vested, 7,493 were forfeited in lieu of paying withholding taxes on the vesting of the restricted stock and 21,404 remain restricted. In June 2021, the Company issued 7,055 shares of fully vested common stock with a value of $18,950 pursuant to the Company's 2010 Employee Stock Purchase Plan. During the six months ended June 30, 2021, the Company issued 1,207,681 shares of its common stock, under an at-the-market offering program ("ATM Agreement") for net proceeds of $3,766,848. The ATM Agreement was entered into in 2020 and permits the sale and issuance of the Company's common stock subject to regulatory limitations imposed by the Securities and Exchange Commission and pursuant to a "shelf" registration statement on Form S-3. 2020 equity activity In March 2020, the Company issued 31,000 shares of fully vested common stock with a value of $43,751 pursuant to a Separation Agreement between the Company and an employee. The shares issued reflected the $1.41 closing price of the Company's common stock as reported on the Nasdaq Capital Market on March 11, 2020. In June 2020, the Company issued 4,364 shares of fully vested common stock with a value of $7,606 pursuant to the Company's 2010 Employee Stock Purchase Plan. |
Collaborative Arrangement Disclosure | Termination AgreementOn June 30, 2021, the Company entered into a Termination Agreement with GSK Consumer Healthcare S.A. ("GSK") pursuant to which the parties terminated the 2018 Development and Services Agreement which provided GSK with license and intellectual property rights for the commercialization of the Quell technology for markets outside the United States. Under terms of the Termination Agreement, GSK transferred back to NeuroMetrix all of GSK's rights in the Quell technology related to markets outside the United States, including technology improvements and intellectual property. NeuroMetrix agreed to make royalty payments to GSK ranging between 5% and 8% for a ten |
Reverse Stock Split
Reverse Stock Split | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Reverse Stock Split | Stockholders’ Equity Preferred stock and convertible preferred stock consist of the following: June 30, 2021 December 31, 2020 Preferred stock, $0.001 par value; 5,000,000 shares authorized at June 30, 2021 and December 31, 2020; no shares issued and outstanding at June 30, 2021 and December 31, 2020 $ — $ — Series B convertible preferred stock, $0.001 par value; 147,000 shares designated at June 30, 2021 and December 31, 2020; 200 shares issued and outstanding at June 30, 2021 and December 31, 2020 $ 1 $ 1 2021 equity activity In January 2021, the Company issued 2,408 shares of fully vested common stock, par value $0.0001 per share ("common stock"), with a value of $4,197 pursuant to the Company's 2010 Employee Stock Purchase Plan. In May 2021, the Company issued 42,808 shares of restricted common stock with a value of $125,000 under its 2004 Stock Option Plan. As of June 30, 2021, 13,911 were vested, 7,493 were forfeited in lieu of paying withholding taxes on the vesting of the restricted stock and 21,404 remain restricted. In June 2021, the Company issued 7,055 shares of fully vested common stock with a value of $18,950 pursuant to the Company's 2010 Employee Stock Purchase Plan. During the six months ended June 30, 2021, the Company issued 1,207,681 shares of its common stock, under an at-the-market offering program ("ATM Agreement") for net proceeds of $3,766,848. The ATM Agreement was entered into in 2020 and permits the sale and issuance of the Company's common stock subject to regulatory limitations imposed by the Securities and Exchange Commission and pursuant to a "shelf" registration statement on Form S-3. 2020 equity activity In March 2020, the Company issued 31,000 shares of fully vested common stock with a value of $43,751 pursuant to a Separation Agreement between the Company and an employee. The shares issued reflected the $1.41 closing price of the Company's common stock as reported on the Nasdaq Capital Market on March 11, 2020. In June 2020, the Company issued 4,364 shares of fully vested common stock with a value of $7,606 pursuant to the Company's 2010 Employee Stock Purchase Plan. |
Subsequent Event Subsequent Eve
Subsequent Event Subsequent Event | 6 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 10. Subsequent Event From July 1, 2021 to July 20, 2021, the Company issued 582,709 shares of common stock under its ATM program. Net proceeds from this activity was $2,239,607. |
Termination Agreement
Termination Agreement | 6 Months Ended |
Jun. 30, 2021 | |
Unusual or Infrequent Items, or Both [Abstract] | |
Collaborative Arrangement Disclosure | Termination AgreementOn June 30, 2021, the Company entered into a Termination Agreement with GSK Consumer Healthcare S.A. ("GSK") pursuant to which the parties terminated the 2018 Development and Services Agreement which provided GSK with license and intellectual property rights for the commercialization of the Quell technology for markets outside the United States. Under terms of the Termination Agreement, GSK transferred back to NeuroMetrix all of GSK's rights in the Quell technology related to markets outside the United States, including technology improvements and intellectual property. NeuroMetrix agreed to make royalty payments to GSK ranging between 5% and 8% for a ten |
Subsequent Events [Text Block] | 10. Subsequent Event From July 1, 2021 to July 20, 2021, the Company issued 582,709 shares of common stock under its ATM program. Net proceeds from this activity was $2,239,607. |
Business and Basis of Present_2
Business and Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Share-based Payment Arrangement [Policy Text Block] | Stock-based Compensation Total compensation cost related to non-vested awards not yet recognized at June 30, 2021 was $302,249. The total compensation costs are expected to be recognized over a weighted-average period of 1.1 years. |
Unaudited Interim Financial Statements | Unaudited Interim Financial Statements The accompanying unaudited balance sheet as of June 30, 2021, unaudited statements of operations, changes in stockholders' equity for the quarters and six months ended June 30, 2021 and 2020 and cash flows for the six months ended June 30, 2021 and 2020 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. The accompanying balance sheet as of December 31, 2020 has been derived from audited financial statements prepared at that date but does not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of management, the financial statements include all normal and recurring adjustments considered necessary for a fair presentation of the Company’s financial position and operating results. Operating results for the six months ended June 30, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021 or any other period. These financial statements and notes should be read in conjunction with the financial statements for the year ended December 31, 2020 included in the Company’s Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, or the SEC, on January 29, 2021 (File No. 001-33351). |
Revenues | Revenues Revenues include product sales, net of estimated returns. Revenue is measured as the amount of consideration the Company expects to receive in exchange for product transferred. Revenue is recognized when contractual performance obligations have been satisfied and control of the product has been transferred to the customer. In most cases, the Company has a single product delivery performance obligation. Accrued product returns are estimated based on historical data and evaluation of current information. Accounts receivable are recorded at the amount the Company expects to collect, net of the allowance for doubtful accounts receivable. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses based on customer past payment history, product usage activity, and recent communications with the customer. Individual customer balances which are over 90 days past due are reviewed individually for collectability and written-off when recovery is not probable. Allowance for doubtful accounts was $25,000 as of June 30, 2021 and December 31, 2020. One customer accounted for 26% and 31% of total revenues in the quarter and six months ended June 30, 2021, respectively. Three customers accounted for 42% and one customer accounted for 20% of total revenues in the quarter and six months ended June 30, 2020, respectively. Two customers accounted for 25% and two customers accounted for 50% of accounts receivable as of June 30, 2021 and December 31, 2020, respectively. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during reporting periods. Actual results could differ from those estimates. |
Net Loss Per Common Share (Tabl
Net Loss Per Common Share (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Quarters Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net loss applicable to common stockholders $ (531,584) $ (851,944) $ (591,367) $ (1,509,315) Weighted average number of common shares outstanding, basic and dilutive 4,155,948 3,014,523 3,977,028 2,235,874 Net loss per common share applicable to common stockholders, basic and diluted $ (0.13) $ (0.28) $ (0.15) $ (0.68) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Quarters Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Options 439,410 163,481 404,156 163,774 Warrants — 27,287 — 34,686 Convertible preferred stock 62 62 62 62 Total 439,472 190,830 404,218 198,522 |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory | Inventories consist of the following: June 30, 2021 December 31, 2020 Purchased components $ 755,578 $ 716,848 Finished goods 273,576 334,434 $ 1,029,154 $ 1,051,282 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Expenses | Accrued expenses and compensation consist of the following: June 30, 2021 December 31, 2020 Professional services $ 173,000 $ 343,000 Compensation 354,422 49,837 Advertising and promotion 1,000 31,000 Warranty 37,600 49,600 Technology fees — 450,000 Leasehold 60,000 — Sales tax 127,775 24,493 Other 36,630 50,512 $ 790,427 $ 998,442 |
Leases Leases (Tables)
Leases Leases (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Leases [Abstract] | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2021 $ 327,580 2022 247,347 2023 165,785 2024 165,785 2025 117,431 Total minimum lease payments $ 1,023,928 Weighted-average discount rate, 14.7% $ 215,351 Lease obligation, current portion 457,682 Lease obligation, net of current portion 350,895 $ 1,023,928 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on Recurring Basis | Fair Value Measurements at June 30, 2021 Using June 30, 2021 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 5,463,532 $ 5,463,532 $ — $ — Total $ 5,463,532 $ 5,463,532 $ — $ — Fair Value Measurements at December 31, 2020 Using December 31, 2020 Quoted Prices in Significant Other Significant Assets: Cash equivalents $ 2,374,216 $ 2,374,216 $ — $ — Total $ 2,374,216 $ 2,374,216 $ — $ — |
Statement of Shareholders' Equi
Statement of Shareholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Equity [Abstract] | |
Schedule of Stock by Class [Table Text Block] | Preferred stock and convertible preferred stock consist of the following: June 30, 2021 December 31, 2020 Preferred stock, $0.001 par value; 5,000,000 shares authorized at June 30, 2021 and December 31, 2020; no shares issued and outstanding at June 30, 2021 and December 31, 2020 $ — $ — Series B convertible preferred stock, $0.001 par value; 147,000 shares designated at June 30, 2021 and December 31, 2020; 200 shares issued and outstanding at June 30, 2021 and December 31, 2020 $ 1 $ 1 |
Business and Basis of Present_3
Business and Basis of Presentation (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2019 | |
Organization And Basis Of Presentation [Line Items] | ||||||||
Accounts receivable, net | $ 457,033 | $ 457,033 | $ 334,297 | |||||
Net proceeds from issuance of stock and warrants | 3,789,995 | $ 4,151,037 | ||||||
Accumulated deficit | 197,473,167 | 197,473,167 | 196,881,800 | |||||
Cash and cash equivalents | 8,364,197 | 8,364,197 | 5,226,213 | |||||
Prepaid expenses and other current assets | (180,838) | (180,838) | (478,074) | |||||
Assets, Current | (10,031,222) | (10,031,222) | (7,089,866) | |||||
Accrued Sales Return provisions | 45,000 | 45,000 | 545,000 | |||||
Liabilities, Current | (1,582,869) | (1,582,869) | (2,285,390) | |||||
Operating Lease, Liability, Noncurrent | (350,895) | (350,895) | (461,410) | |||||
Stockholders' Equity Attributable to Parent | 8,835,129 | $ 5,488,616 | 8,835,129 | 5,488,616 | 5,247,775 | $ 5,261,052 | $ 2,514,118 | $ 2,530,234 |
Cost of revenues | 558,221 | 495,086 | 1,134,510 | 1,115,276 | ||||
Gross Profit | 1,655,278 | 864,893 | 3,234,461 | 2,416,739 | ||||
Compensation cost not yet recognized | 302,249 | $ 302,249 | ||||||
Compensation cost not yet recognized, period for recognition | 1 year 1 month 6 days | |||||||
Operating Lease, Right-of-Use Asset | (522,131) | $ (522,131) | (692,692) | |||||
Other long-term assets | (28,284) | (28,284) | (28,523) | |||||
Assets | (10,768,893) | (10,768,893) | (7,994,575) | |||||
Accrued Liabilities, Current | (790,427) | (790,427) | (998,442) | |||||
Liabilities | (1,933,764) | (1,933,764) | (2,746,800) | |||||
Allowance for doubtful accounts | 25,000 | 25,000 | $ 25,000 | |||||
Other Comprehensive Income (Loss), Net of Tax | 0 | 0 | 0 | 0 | ||||
IdleFacilityImpairmentCharge | $ 0 | $ 117,000 | $ 126,748 | $ 204,000 | ||||
One Customer | Revenue | Customer Concentration Risk | ||||||||
Organization And Basis Of Presentation [Line Items] | ||||||||
Concentration risk, percentage | 26.00% | 31.00% | 20.00% | |||||
Three Customers [Member] | Revenue | Customer Concentration Risk | ||||||||
Organization And Basis Of Presentation [Line Items] | ||||||||
Concentration risk, percentage | 42.00% | |||||||
Two Customers | Accounts Receivable | Customer Concentration Risk | ||||||||
Organization And Basis Of Presentation [Line Items] | ||||||||
Concentration risk, percentage | 25.00% | 50.00% |
Comprehensive Loss (Detail)
Comprehensive Loss (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Equity [Abstract] | ||||
Other Comprehensive Income (Loss), Net of Tax | $ 0 | $ 0 | $ 0 | $ 0 |
Net Loss Per Common Share - Sch
Net Loss Per Common Share - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total antidilutive securities excluded from the computation of earnings per share (in shares) | 439,472 | 190,830 | 404,218 | 198,522 |
Convertible preferred stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total antidilutive securities excluded from the computation of earnings per share (in shares) | 62 | 62 | 62 | 62 |
Options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total antidilutive securities excluded from the computation of earnings per share (in shares) | 439,410 | 163,481 | 404,156 | 163,774 |
Warrants | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Total antidilutive securities excluded from the computation of earnings per share (in shares) | 0 | 27,287 | 0 | 34,686 |
Net Loss Per Common Share Sched
Net Loss Per Common Share Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Earnings Per Share [Abstract] | ||||||
Net Income (Loss) Attributable to Parent | $ (531,584) | $ (59,783) | $ (851,944) | $ (657,371) | $ (591,367) | $ (1,509,315) |
Weighted Average Number of Shares Outstanding, Basic | 4,155,948 | 3,014,523 | 3,977,028 | 2,235,874 | ||
Weighted Average Number of Shares Outstanding, Diluted | 4,155,948 | 3,014,523 | 3,977,028 | 2,235,874 | ||
Earnings Per Share, Diluted | $ (0.13) | $ (0.28) | $ (0.15) | $ (0.68) | ||
Earnings Per Share, Basic | $ (0.13) | $ (0.28) | $ (0.15) | $ (0.68) |
Inventories (Detail)
Inventories (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Inventory [Line Items] | ||
Purchased components | $ 755,578 | $ 716,848 |
Finished goods | 273,576 | 334,434 |
Inventories | $ 1,029,154 | $ 1,051,282 |
Accrued Expenses - Schedule of
Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Payables and Accruals [Abstract] | ||
Sales return allowance | $ 45,000 | $ 545,000 |
Technology fees | 0 | 450,000 |
Accrued Leaseholds Current | 60,000 | 0 |
Professional services | 173,000 | 343,000 |
Accrued Salaries, Current | 354,422 | 49,837 |
Accrued Advertising, Current | 1,000 | 31,000 |
Warranty reserve | 37,600 | 49,600 |
Other | 36,630 | 50,512 |
Sales and Excise Tax Payable, Current | 127,775 | 24,493 |
Accrued expenses | $ 790,427 | $ 998,442 |
Leases Leases (Details)
Leases Leases (Details) - USD ($) | Jun. 01, 2018 | Feb. 20, 2015 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 |
Operating Leased Assets [Line Items] | |||||||
Operating Lease, Weighted Average Discount Rate, Percent | 14.70% | 14.70% | |||||
Operating Lease, Weighted Average Remaining Lease Term | 2 years 10 months 24 days | 2 years 10 months 24 days | |||||
IdleFacilityImpairmentCharge | $ 0 | $ 117,000 | $ 126,748 | $ 204,000 | |||
Operating Lease, Expense | 57,453 | $ 166,905 | 224,357 | $ 333,809 | |||
Operating Lease, Right-of-Use Asset | 522,131 | 522,131 | $ 692,692 | ||||
Lessee, Operating Lease, Liability, to be Paid, Year One | 327,580 | 327,580 | |||||
Lessee, Operating Lease, Liability, to be Paid, Year Two | 247,347 | 247,347 | |||||
Lessee, Operating Lease, Liability, to be Paid, Year Three | 165,785 | 165,785 | |||||
Lessee, Operating Lease, Liability, to be Paid, Year Four | 165,785 | 165,785 | |||||
Lessee, Operating Lease, Liability, to be Paid, after Year Five | 117,431 | 117,431 | |||||
Lessee, Operating Lease, Liability, to be Paid | 1,023,928 | 1,023,928 | |||||
Operating Lease Discount | 215,351 | 215,351 | |||||
Operating Lease, Liability, Current | 457,682 | 457,682 | 599,632 | ||||
Operating Lease, Liability, Noncurrent | 350,895 | 350,895 | $ 461,410 | ||||
Woburn Lease [Member] | |||||||
Operating Leased Assets [Line Items] | |||||||
Lessee, Operating Lease, Renewal Term | 5 years | ||||||
Woburn Lease [Member] | MonthlyRent [Member] | |||||||
Operating Leased Assets [Line Items] | |||||||
Operating Lease, Payments | $ 13,846 | ||||||
Waltham Lease [Member] | |||||||
Operating Leased Assets [Line Items] | |||||||
Lessee, Operating Lease, Renewal Term | 5 years | ||||||
Credit facility limit restricted to support letter of credit | $ 226,731 | $ 226,731 | |||||
Waltham Lease [Member] | MonthlyRent [Member] | |||||||
Operating Leased Assets [Line Items] | |||||||
Operating Lease, Payments | $ 41,074 |
Restructuring And Related Activ
Restructuring And Related Activities (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Restructuring Cost and Reserve [Line Items] | ||||
IdleFacilityImpairmentCharge | $ 0 | $ 117,000 | $ 126,748 | $ 204,000 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Assets | ||
Cash equivalents | $ 5,463,532 | $ 2,374,216 |
Assets, Fair Value Disclosure | 5,463,532 | 2,374,216 |
Level 1 | ||
Assets | ||
Cash equivalents | 5,463,532 | 2,374,216 |
Assets, Fair Value Disclosure | 5,463,532 | 2,374,216 |
Level 2 | ||
Assets | ||
Cash equivalents | 0 | 0 |
Assets, Fair Value Disclosure | 0 | 0 |
Level 3 | ||
Assets | ||
Cash equivalents | 0 | 0 |
Assets, Fair Value Disclosure | $ 0 | $ 0 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||||||||
Jun. 30, 2021 | May 31, 2021 | Jan. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | Mar. 11, 2020 | |
Class of Stock [Line Items] | |||||||||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | $ 18,950 | $ 4,197 | $ 7,606 | $ 18,950 | $ 4,197 | $ 7,606 | |||||||
Net proceeds from issuance of stock and warrants | $ 3,789,995 | $ 4,151,037 | |||||||||||
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | $ 0.0001 | ||||||||
Compensation cost not yet recognized | $ 302,249 | $ 302,249 | $ 302,249 | ||||||||||
Compensation cost not yet recognized, period for recognition | 1 year 1 month 6 days | ||||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 125,000 | $ 0 | |||||||||||
Common Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 7,055 | 2,408 | 4,364 | 7,055 | 2,408 | 4,364 | |||||||
Stock Issued During Period, Value, Employee Stock Purchase Plan | $ 1 | $ 1 | $ 1 | ||||||||||
Stock Issued During Period, Shares, New Issues | 1,207,681 | 2,092,541 | 256,078 | ||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross | 42,808 | 13,911 | |||||||||||
Stock Issued During Period, Value, Restricted Stock Award, Gross | $ 3 | ||||||||||||
Common Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited | 7,493 | ||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 21,404 | ||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited | 7,493 | ||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures | 21,404 | ||||||||||||
Separation Agreement [Member] | Common Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Stock Price (in dollars per share) | $ 1.41 | ||||||||||||
Common Stock, Value, Issued | $ 43,751 | ||||||||||||
Stock Issued During Period, Shares, Other | 31,000 | ||||||||||||
Restricted Stock | Common Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 13,911 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 13,911 | ||||||||||||
At The Market Offering Program [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Proceeds from Issuance of Common Stock | $ 3,766,848 | $ 4,143,431 | |||||||||||
At The Market Offering Program [Member] | Common Stock [Member] | |||||||||||||
Class of Stock [Line Items] | |||||||||||||
Stock Issued During Period, Shares, New Issues | 1,207,681 | 2,348,619 |
Preferred Stock and Convertible
Preferred Stock and Convertible Preferred Stock (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Preferred Non-Convertible Stock | ||
Class of Stock [Line Items] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Value of preferred stock issued | $ 0 | $ 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Series B Convertible Preferred Stock | ||
Class of Stock [Line Items] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares issued (in shares) | 200 | 200 |
Value of preferred stock issued | $ 1 | $ 1 |
Preferred stock, shares designated (in shares) | 147,000 | 147,000 |
Preferred stock, shares outstanding (in shares) | 200 | 200 |
Reverse Stock Split (Details)
Reverse Stock Split (Details) - shares | Jun. 30, 2021 | Dec. 31, 2020 |
Class of Stock [Line Items] | ||
Shares outstanding (in shares) | 5,046,198 | 3,793,739 |
Subsequent Event Subsequent E_2
Subsequent Event Subsequent Events (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
Jul. 20, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Subsequent Event [Line Items] | |||||||
Common Stock, Shares, Issued | 5,046,198 | 5,046,198 | 3,793,739 | ||||
Common Stock [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues | 1,207,681 | 2,092,541 | 256,078 | ||||
At The Market Offering Program [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Proceeds from Issuance of Common Stock | $ 3,766,848 | $ 4,143,431 | |||||
At The Market Offering Program [Member] | Common Stock [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues | 1,207,681 | 2,348,619 | |||||
At The Market Offering Program [Member] | Subsequent Event [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Proceeds from Issuance of Common Stock | $ 2,239,607 | ||||||
At The Market Offering Program [Member] | Subsequent Event [Member] | Common Stock [Member] | |||||||
Subsequent Event [Line Items] | |||||||
Stock Issued During Period, Shares, New Issues | 582,709 |
Termination Agreement (Details)
Termination Agreement (Details) | Jun. 30, 2021 |
Unusual or Infrequent Item, or Both [Line Items] | |
Royalty Agreement Term | 10 years |
Minimum | |
Unusual or Infrequent Item, or Both [Line Items] | |
Royalty Fee Percentage | 5.00% |
Maximum | |
Unusual or Infrequent Item, or Both [Line Items] | |
Royalty Fee Percentage | 8.00% |
Uncategorized Items - nuro-2021
Label | Element | Value |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | $ 5,226,213 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents | $ 3,126,206 |