0001564590-21-015121 | 10-K | XBRL Viewer

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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2020	Mar. 18, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Trading Symbol	WATT
Entity Registrant Name	Energous Corp
Entity Central Index Key	0001575793
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		61,812,285
Entity Public Float			$ 110,145,117
Title of 12(b) Security	Common Stock, $0.00001 par value
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity File Number	001-36379
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-1318953
Entity Address, Address Line One	3590 North First Street
Entity Address, Address Line Two	Suite 210
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	408
Local Phone Number	963-0200
Document Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	The registrant intends to file a definitive proxy statement pursuant to Regulation 14A within 120 days after the end of the fiscal year ended December 31, 2020. Portions of such proxy statement are incorporated by reference into Part III of this Annual Report on Form 10-K.

Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 50,729,661	$ 21,684,089
Accounts receivable, net	75,850	63,144
Prepaid expenses and other current assets	636,702	450,231
Total current assets	51,442,213	22,197,464
Property and equipment, net	402,711	626,524
Right-of-use lease assets	1,293,291	2,057,576
Other assets	1,610	2,410
Total assets	53,139,825	24,883,974
Current liabilities:
Accounts payable	1,096,839	1,671,519
Accrued expenses	1,576,287	2,063,097
Operating lease liabilities, current portion	825,431	722,291
Deferred revenue	12,000	12,000
Total current liabilities	3,510,557	4,468,907
Long-term liabilities:
Operating lease liabilities, long-term portion	576,762	1,402,193
Total liabilities	4,087,319	5,871,100
Commitments and contingencies
Stockholders’ equity:
Preferred Stock, $0.00001 par value, 10,000,000 shares authorized at December 31, 2020 and December 31, 2019; no shares issued or outstanding
Common Stock, $0.00001 par value, 200,000,000 and 50,000,000 shares authorized at December 31, 2020 and December 31, 2019, respectively; 61,292,412 and 33,203,806 shares issued and outstanding at December 31, 2020 and December 31, 2019, respectively.	614	333
Additional paid-in capital	344,024,638	282,153,201
Accumulated deficit	(294,972,746)	(263,140,660)
Total stockholders’ equity	49,052,506	19,012,874
Total liabilities and stockholders’ equity	$ 53,139,825	$ 24,883,974

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	200,000,000	50,000,000
Common stock, shares issued	61,292,412	33,203,806
Common stock, shares outstanding	61,292,412	33,203,806

Statements of Operations - USD ($)	12 Months Ended
Statements of Operations - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Revenue	$ 327,350	$ 200,143
Operating expenses:
Research and development	17,066,122	23,228,810
Sales and marketing	5,880,350	5,418,967
General and administrative	9,153,503	10,360,266
Cost of services revenue	126,539
Total operating expenses	32,226,514	39,008,043
Loss from operations	(31,899,164)	(38,807,900)
Other income (expense):
Interest income, net	71,212	416,274
Loss on disposal of property and equipment	(4,134)	(7,463)
Total other income	67,078	408,811
Net loss	$ (31,832,086)	$ (38,399,089)
Basic and diluted loss per common share	$ (0.76)	$ (1.27)
Weighted average shares outstanding, basic and diluted	41,639,916	30,262,642

Statement of Changes in Stockholder's Equity - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]
Beginning balance at Dec. 31, 2018	$ 18,370,435	$ 265	$ 243,111,741	$ (224,741,571)
Beginning balance (in shares) at Dec. 31, 2018		26,526,303
Stock-based compensation - restricted stock units ("RSUs")	10,190,211		10,190,211
Stock-based compensation - employee stock purchase plan ("ESPP")	368,021		368,021
Stock-based compensation - performance share units ("PSUs")	88,348		88,348
Issuance of shares for RSUs		$ 11	(11)
Issuance of shares for RSUs (in shares)		1,110,817
Shares withheld for payroll tax on RSUs	(10,207)		(10,207)
Shares withheld for payroll tax on RSUs (in shares)		(1,329)
Shares withheld for payroll tax on PSUs	(329,159)		(329,159)
Shares withheld for payroll tax on PSUs (in shares)		(44,481)
Shares returned (in shares)		(38,666)
Exercise of stock options	400,103	$ 1	400,102
Exercise of stock options (in shares)		80,201
Shares purchased from contributions to the ESPP	457,362	$ 2	457,360
Shares purchased from contributions to the ESPP (in shares)		178,003
Issuance of shares and warrants in a private placement, net of issuance costs	23,319,156	$ 33	23,319,123
Issuance of shares and warrants in a private placement, net of issuance costs (in shares)		3,333,333
Issuance of shares in an at-the-market ("ATM") placement, net of issuance costs	4,557,693	$ 21	4,557,672
Issuance of shares in an at-the-market ("ATM") placement, net of issuance costs (in shares)		2,059,625
Net loss	(38,399,089)			(38,399,089)
Ending balance at Dec. 31, 2019	19,012,874	$ 333	282,153,201	(263,140,660)
Ending balance (in shares) at Dec. 31, 2019		33,203,806
Stock-based compensation - restricted stock units ("RSUs")	7,656,857		7,656,857
Stock-based compensation - employee stock purchase plan ("ESPP")	329,461		329,461
Stock-based compensation - performance share units ("PSUs")	(88,348)		(88,348)
Issuance of shares for RSUs		$ 12	(12)
Issuance of shares for RSUs (in shares)		1,194,439
Shares purchased from contributions to the ESPP	417,546	$ 3	417,543
Shares purchased from contributions to the ESPP (in shares)		275,312
Issuance of shares in an at-the-market ("ATM") placement, net of issuance costs	53,556,202	$ 266	53,555,936
Issuance of shares in an at-the-market ("ATM") placement, net of issuance costs (in shares)		26,618,855
Net loss	(31,832,086)			(31,832,086)
Ending balance at Dec. 31, 2020	$ 49,052,506	$ 614	$ 344,024,638	$ (294,972,746)
Ending balance (in shares) at Dec. 31, 2020		61,292,412

Statement of Changes in Stockholder's Equity (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Private Placement [Member]
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs		$ 1,680,844
ATM [Member]
Adjustments to Additional Paid in Capital, Stock Issued, Issuance Costs	$ 1,545,139	$ 339,081

Statements of Cash Flows - USD ($)	12 Months Ended
Statements of Cash Flows - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net loss	$ (31,832,086)	$ (38,399,089)
Adjustments to reconcile net loss to Net cash used in operating activities:
Depreciation and amortization	356,310	781,228
Stock based compensation	7,897,970	10,646,580
Change in operating lease right-of-use assets	764,285	786,342
Bad debt expense	21,377	35,000
Loss on disposal of property and equipment	4,134	7,463
Changes in operating assets and liabilities:
Accounts receivable	(34,083)	(53,594)
Prepaid expenses and other current assets	(186,471)	130,809
Other assets	800
Accounts payable	(574,680)	(189,866)
Accrued expenses	(486,810)	284,748
Operating lease liabilities	(722,291)	(662,766)
Deferred revenue		12,000
Net cash used in operating activities	(24,791,545)	(26,621,145)
Cash flows used in investing activities:
Purchases of property and equipment	(136,631)	(196,199)
Net cash used in investing activities	(136,631)	(196,199)
Cash flows from financing activities:
Net proceeds from the sales of common stock	53,556,202	23,319,156
Net proceeds from an at-the-market ("ATM") offerings	53,556,202	4,557,693
Proceeds from the exercise of stock options		400,103
Proceeds from contributions to employee stock purchase plan	417,546	457,362
Net cash provided by financing activities	53,973,748	28,394,948
Net increase in cash and cash equivalents	29,045,572	1,577,604
Cash and cash equivalents - beginning	21,684,089	20,106,485
Cash and cash equivalents - ending	50,729,661	21,684,089
Restricted Stock Units (RSUs) [Member]
Cash flows from financing activities:
Shares repurchased for tax withholdings on vesting		(10,207)
Supplemental disclosure of non-cash financing activities:
Common stock issued	$ 12	11
Performance Shares [Member]
Cash flows from financing activities:
Shares repurchased for tax withholdings on vesting		$ (329,159)

Business Organization, Nature of Operations

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Business Organization, Nature of Operations

Note 1 – Business Organization, Nature of Operations

Energous Corporation (the “Company”) was incorporated in Delaware on October 30, 2012. The Company has developed its WattUp® technology, consisting of proprietary semiconductor chipsets, software, hardware designs and antennas, that enables radio frequency (“RF”) based charging for electronic devices, providing wire-free contact and non-contact charging solutions, with the potential to enable charging with mobility. The Company believes its proprietary WattUp technology can be utilized in consumer electronics such as wearables, hearing aids, earbuds, Bluetooth headsets, Internet of Things (“IoT”) devices, smartphones, tablets, e-book readers, keyboards, mice, remote controls, rechargeable lights, cylindrical batteries, medical devices and other devices with charging requirements that would otherwise require battery replacement or wired power connection.

Liquidity and Management Plans

12 Months Ended

Dec. 31, 2020

Liquidity And Management Plan Disclosure [Abstract]

Liquidity and Management Plans

Note 2 – Liquidity and Management Plans

During the years ended December 31, 2020 and 2019, the Company has recorded revenue of $327,350 and $200,143, respectively. The Company incurred a net loss of $31,832,086 and $38,399,089 for the years ended December 31, 2020 and 2019, respectively. Net cash used in operating activities was $24,791,545 and $26,621,145 for the years ended December 31, 2020 and 2019, respectively. The Company is currently meeting its liquidity requirements through the proceeds of securities offerings that raised net proceeds of $53,556,202 during 2020 and $4,557,693 during the fourth quarter of 2019, along with payments received under product development projects.

As of December 31, 2020, the Company had cash on hand of $50,729,661. The Company expects that cash on hand as of December 31, 2020, together with anticipated revenues, will be sufficient to fund the Company’s operations into March 2022.

Research and development of new technologies is by its nature unpredictable. Although the Company intends to continue its research and development activities, there can be no assurance that its available resources and revenue generated from its business operations will be sufficient to sustain its operations. Accordingly, the Company expects to pursue additional financing, which could include offerings of equity or debt securities, bank financings, commercial agreements with customers or strategic partners, and other alternatives, depending upon market conditions. There is no assurance that such financing would be available on terms that the Company would find acceptable, or at all.

The market for products using the Company’s technology is broad and evolving, but remains nascent and unproven, so the Company’s success is dependent upon many factors, including customer acceptance of its existing products, technical feasibility of future products, regulatory approvals, competition and global market fluctuations.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 3 – Summary of Significant Accounting Policies

Basis of Presentation

The accompanying financial statements are presented in U.S. dollars and have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), and pursuant to the accounting and disclosure rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”).

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the date of the financial statements as well as the reported expenses during the reporting periods.

Note 3 – Summary of Significant Accounting Policies, continued

Use of Estimates continued

The Company’s significant estimates and assumptions include the valuation of stock-based compensation instruments, recognition of revenue, the useful lives of long-lived assets and valuation of deferred tax assets. Some of these judgments can be subjective and complex, and, consequently, actual results may differ from these estimates. Although the Company believes that its estimates and assumptions are reasonable, they are based upon information available at the time the estimates and assumptions were made. Actual results could differ from those estimates.

Cash and Cash Equivalents

The Company considers all short-term, highly liquid investments with an original maturity at the date of purchase of three months or less to be cash equivalents. The Company maintains cash balances that may be uninsured or in deposit accounts that exceed Federal Deposit Insurance Corporation limits. The Company maintains its cash deposits with major financial institutions.

Revenue Recognition

On January 1, 2018, the Company adopted Accounting Standards Update No. 2014-09, "Revenue from Contracts with Customers" (Topic 606).

In accordance with Topic 606, the Company recognizes revenue using the following five-step approach:

Identify the contract with the customer.

Identify the performance obligations in the contract.

Determine the transaction price of the contract.

Allocate the transaction price to the performance obligations of the contract.

Recognize revenue when the performance obligations are met or delivered.

The Company’s revenue primarily consists of product development projects revenue and royalty revenue from Dialog. The Company also provides contract services for Dialog. During the year ended December 31, 2020, the Company recognized $197,350 in product development projects revenue, $0 in royalty revenue and $130,000 in contract services revenue. During the year ended December 31, 2019, the Company recognized $193,043 in product development projects revenue, $7,100 in royalty revenue and $0 in contract services revenue.

The Company records revenue associated with product development projects that it enters into with certain customers. In general, these product development projects are complex, and the Company does not have certainty about its ability to achieve the project milestones. The achievement of a milestone is dependent on the Company’s performance obligation and requires acceptance by the customer. The Company recognizes this revenue at a point in time based on when the performance obligation is met. The payment associated with achieving the performance obligation is generally commensurate with the Company’s effort or the value of the deliverable and is nonrefundable. The Company records the expenses related to these product development projects in research and development expense, in the periods such expenses were incurred.

The Company records royalty revenue from its manufacturing partner, Dialog, and such royalty revenue is recognized at a point in time based on shipments from Dialog to its customers.

The Company recognizes contract services revenue from Dialog over the period of time that the services are performed. The costs associated with this revenue are recognized as the services are performed and are included in cost of services revenue.

Note 3 – Summary of Significant Accounting Policies, continued

Research and Development

Research and development expenses are charged to operations as incurred. For internally developed patents, all patent application costs are expensed as incurred as research and development expense. Patent application costs, which are generally legal costs, are expensed as research and development costs until such time as the future economic benefits of such patents become more certain. The Company incurred research and development costs of $17,066,122 and $23,228,810 for the years ended December 31, 2020 and 2019, respectively.

Stock-Based Compensation

The Company accounts for equity instruments issued to employees in accordance with accounting guidance that requires awards to be recorded at their fair value on the date of grant and are amortized over the vesting period of the award. The Company recognizes compensation costs on a straight line basis over the requisite service period of the award, which is typically the vesting term of the equity instrument issued.

Under the Company’s Employee Stock Purchase Plan (“ESPP”), employees may purchase a limited number of shares of the Company’s stock at a 15% discount from the lower of the closing market prices measured on the first and last days of each half-year period. The Company recognizes stock-based compensation expense for the fair value of the purchase options, as measured on the grant date.

Income Taxes

Tax benefits are recognized only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50 percent likely to be realized upon settlement. A liability for “unrecognized tax benefits” is recorded for any tax benefits claimed in the Company’s tax returns that do not meet these recognition and measurement standards. As of December 31, 2020, no liability for unrecognized tax benefits was required to be reported. The guidance also discusses the classification of related interest and penalties on income taxes. The Company’s policy is to record interest and penalties on uncertain tax positions as a component of income tax expense. No interest or penalties were recorded during the years ended December 31, 2020 and 2019. The Company files income tax returns with the United States and California governments.

Net Loss Per Common Share

Basic net loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options and warrants (using the treasury stock method), the vesting of restricted stock units (“RSUs”) and performance stock units (“PSUs”) and the enrollment of employees in the ESPP. The computation of diluted loss per share excludes potentially dilutive securities of 5,256,942 and 6,739,639 for the years ended December 31, 2020 and 2019, respectively, because their inclusion would be antidilutive.

Note 3 – Summary of Significant Accounting Policies, continued

Net Loss Per Common Share continued

Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.

	For the Years Ended December 31,
	2020		2019
Warrants issued to private investors		3,284,789		3,938,802
Options to purchase common stock		550,985		550,985
RSUs		1,421,168		1,821,852
PSUs		—		428,000
Total potentially dilutive securities		5,256,942		6,739,639

Leases

As of January 1, 2019, the Company determines if an arrangement is a lease at the inception of the arrangement. The Company applies the short-term lease recognition exemption and recognizes lease payments in profit or loss at lease commencement for facility or equipment leases that have a lease term of 12 months or less and do not include a purchase option whose exercise is reasonably certain. Operating leases are included in operating lease right-of-use (ROU) assets and operating lease liabilities.

ROU assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are measured and recorded at the later of the adoption date, January 1, 2019, or the service commencement date based on the present value of lease payments over the lease term. The Company uses the implicit interest rate when readily determinable; however, most leases do not establish an implicit rate, so the Company uses an estimate of the incremental borrowing rate based on the information available at the time of measurement. Lease expense for lease payments is recognized on a straight-line basis over the lease term. See Note 6 – Commitments and Contingencies, Operating Leases for further discussion of the Company’s operating leases.

Recent Accounting Pronouncements

In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740),” Simplifying the Accounting for Income Taxes. ASU 2019-12 removes certain exceptions under Topic 740 and improves consistent application by clarifying and amending existing guidance. This standard is effective for annual reporting periods beginning after December 15, 2020. The Company does not believe adoption of this standard will have a material impact on its financial statements.

Management’s Evaluation of Subsequent Events

The Company evaluates events that have occurred after the balance sheet date of December 31, 2020, through the date which the financial statements are issued.

Property and Equipment

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Property and Equipment

Note 4 – Property and Equipment

Property and equipment are as follows:

	As of December 31,
	2020			2019
Computer software	$	862,343		$	917,499
Computer hardware		2,012,041			2,442,369
Furniture and fixtures		508,371			517,864
Leasehold improvements		776,563			776,563
		4,159,318			4,654,295
Less – accumulated depreciation		(3,756,607	)		(4,027,771	)
Total property and equipment, net	$	402,711		$	626,524

The Company currently uses the following expected life terms for depreciating property and equipment: computer software – 1-2 years, computer hardware – 3 years, furniture and fixtures – 7 years, leasehold improvements – remaining life of the lease.

The Company disposed of $631,608 and $1,205,962 in property and equipment during the years ended December 31, 2020 and 2019, respectively. Total depreciation and amortization expense of the Company’s property and equipment was $356,310 and $781,228 for the years ended December 31, 2020 and 2019, respectively.

Accrued Expenses

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Accrued Expenses

Note 5 – Accrued Expenses

Accrued expenses consist of the following:

	As of December 31,
	2020		2019
Accrued compensation	$	1,246,151	$	1,097,997
Accrued research and development		—		524,861
Accrued legal expenses		205,579		253,730
Other accrued expenses		124,557		186,509
Total	$	1,576,287	$	2,063,097

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 6 – Commitments and Contingencies

Operating Leases

San Jose Lease

On July 1, 2019, the Company signed a new lease agreement for the lease of its office space at its corporate headquarters in San Jose, California for an additional three years. The lease agreement includes space on the first floor of the building that had been previously subleased. Upon expiration of the original lease on September 30, 2019, the new monthly lease payment starting October 1, 2019 was $52,970 and is subject to annual escalations up to a maximum monthly lease payment of $64,941.

Note 6 – Commitments and Contingencies, continued

Operating Leases, continued

Costa Mesa Lease

On July 15, 2019, the Company signed a new lease agreement for the lease of office space in Costa Mesa, California for an additional two years. Upon expiration of the original lease on September 30, 2019, the new monthly lease payment starting October 1, 2019 was $9,773 and is subject to an annual escalation up to a maximum monthly lease payment of $10,200.

Operating Lease Commitments

In February 2016, the FASB issued its final standard on lease accounting, ASU No. 2016-02, “Leases (Topic 842),” which superseded Topic 840, “Leases,” which was further modified in ASU No. 2018-10, “Codification Improvements” to clarify the implementation guidance. The new accounting standard was effective for the Company beginning on January 1, 2019 and required the recognition on the balance sheet of right-of-use assets and lease liabilities. The Company elected the optional transition method and adopted the new guidance on January 1, 2019 on a modified retrospective basis with no restatement of prior period amounts. The Company’s adoption of the new standard resulted in the recognition of right-of-use assets of $414,426 and operating lease liabilities of $485,747, with no material cumulative effect adjustment to equity as of the date of adoption. The Company anticipates having future total lease payments of $1,447,668 during the period from the first quarter of 2021 to the third quarter of 2022. As of December 31, 2020, the Company has total operating lease right-of-use assets of $1,293,291, current portion operating lease liabilities of $825,431 and long-term portion of operating lease liabilities of $576,762. The weighted average remaining lease term is 1.7 years as of December 31, 2020.

The future minimum lease payments for leased locations are as follows:

For the Year Ended December 31,	Amount
2021	$	863,199
2022		584,469
Total future lease payments		1,447,668
Present value discount (4% weighted average)		(45,475	)
Total operating lease liabilities	$	1,402,193

Hosted Design Solution Agreement

On June 25, 2015, the Company entered into a three-year agreement to license electronic design automation software in a hosted environment. Pursuant to the agreement, under which services began July 2015, the Company is required to remit quarterly payments in the amount of approximately $101,000 with the last payment due March 30, 2018. On December 18, 2015, the agreement was amended to redefine the hardware and software configuration and the quarterly payments increased to approximately $198,000. In July 2018, the Company renewed the agreement for an additional three years, and the Company is required to remit quarterly payments of approximately $218,000, with the last payment due in March 2021.

Note 6 – Commitments and Contingencies, continued

Litigations, Claims, and Assessments

The Company is from time to time involved in various disputes, claims, liens and litigation matters arising in the normal course of business. While the outcome of these disputes, claims, liens and litigation matters cannot be predicted with certainty, after consulting with legal counsel, management does not believe that the outcome of these matters will have a material adverse effect on the Company's combined financial position, results of operations or cash flows.

MBO Bonus Plan

On March 15, 2018, the Company’s Board of Directors (“Board”), on the recommendation of the Board’s Compensation Committee (“Compensation Committee”), approved the Energous Corporation MBO Bonus Plan (“Bonus Plan”) for executive officers of the Company. To be eligible to receive a bonus under the Bonus Plan, an executive officer must be continuously employed throughout the applicable performance period, and in good standing, and achieve the performance objectives selected by the Compensation Committee.

Under the Bonus Plan, the Compensation Committee is responsible for selecting the amounts of potential bonuses for executive officers, the performance metrics used to determine whether any such bonuses will be paid and determining whether those performance metrics have been achieved.

During the years ended December 31, 2020 and 2019, the Company recognized a total of $1,305,723 and $1,048,375, respectively, in expense under the Bonus Plan. As of December 31, 2020, $438,745 of the 2020 amount was not yet paid and is included in accrued expenses.

Severance and Change in Control Agreement

On March 15, 2018, the Compensation Committee approved a form of Severance and Change in Control Agreement (“Severance Agreement”) that the Company may enter into with executive officers (“Executive”).

Under the Severance Agreement, if an Executive is terminated in a qualifying termination, the Company agrees to pay the Executive six to 12 months of that Executive’s monthly base salary. If Executive elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) the Company will pay the full amount of Executive’s premiums under the Company’s health, dental and vision plans, including coverage for the Executive’s eligible dependents, for the six to 12 month period following the Executive’s termination.

Amended Employee Agreement – Stephen Rizzone

On April 3, 2015, the Company entered into an Amended and Restated Executive Employment Agreement with Stephen R. Rizzone, the Company’s President and Chief Executive Officer (“Employment Agreement”).

The Employment Agreement effective as of January 1, 2015, has an initial term of four years and automatically renews each year after the initial term. The Employment Agreement provides for an annual base salary of $365,000, and Mr. Rizzone is eligible to receive quarterly cash bonuses from the MBO Bonus Plan with a total target amount equal to 100% of his base salary based upon achievement of performance-based objectives established by the Board.

Mr. Rizzone is also eligible to receive all customary and usual benefits generally available to senior executives of the Company.

Note 6 – Commitments and Contingencies, continued

Strategic Alliance Agreement

In November 2016, the Company and Dialog Semiconductor plc (“Dialog”), a related party (see Note 10—Related Party Transactions), entered into a Strategic Alliance Agreement (“Alliance Agreement”) for the manufacture, distribution and commercialization of products incorporating the Company’s wire-free charging technology (“Licensed Products”). Pursuant to the terms of the Alliance Agreement, the Company agreed to engage Dialog as the exclusive supplier of the Licensed Products for specified fields of use, subject to certain exceptions (the “Company Exclusivity Requirement”). Dialog agreed to not distribute, sell or work with any third party to develop any competing products without the Company’s approval (the “Dialog Exclusivity Requirement”). In addition, both parties agreed on a revenue sharing arrangement and will collaborate on the commercialization of Licensed Products based on a mutually-agreed upon plan. Each party will retain all of its intellectual property.

The Alliance Agreement has an initial term of seven years and will automatically renew annually thereafter unless terminated by either party upon 180 days’ prior written notice. The Company may terminate the Alliance Agreement at any time after the third anniversary of the Agreement upon 180 days’ prior written notice to Dialog, or if Dialog breaches certain exclusivity obligations. Dialog may terminate the Alliance Agreement if sales of Licensed Products do not meet specified targets. The Company Exclusivity Requirement will terminate upon the earlier of January 1, 2021 or the occurrence of certain events relating to the Company’s pre-existing exclusivity obligations. The Company Exclusivity Requirement renews automatically on an annual basis unless the Company and Dialog agree to terminate the requirement.

Stockholders' Equity

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stockholders' Equity

Note 7 – Stockholders’ Equity

Authorized Capital

The holders of the Company’s common stock are entitled to one vote per share. Holders of common stock are entitled to receive ratably such dividends, if any, as may be declared by the board of directors out of legally available funds. Upon the liquidation, dissolution or winding up of the Company, holders of common stock are entitled to share ratably in all assets of the Company that are legally available for distribution.

Financing

On August 9, 2018, the Company filed a shelf registration statement on Form S-3, which became effective on August 17, 2018. This shelf registration statement allows the Company to sell, from time to time, any combination of debt or equity securities described in the registration statement up to aggregate proceeds of $75,000,000. Pursuant to this registration statement, in March 2019 the Company raised $23,319,156 (net of $1,680,844 in issuance costs) from an offering of shares of its common stock and warrants to purchase 1,666,666 shares of common stock at an exercise price of $10.00 per share. The Company also raised $4,557,693 (net of $339,081 in issuance costs) during the fourth quarter of 2019, $5,506,880 (net of $141,322 in issuance costs) during the first quarter of 2020 and $9,216,611 (net of $236,528 in issuance costs) during the second quarter of 2020, pursuant to this shelf registration statement.

On September 15, 2020, the Company filed a shelf registration statement on Form S-3 with the SEC, which became effective on September 24, 2020, and contains two prospectuses: a base prospectus, which covers the offering, issuance and sale by the Company of up to $75,000,000 of its common stock, preferred stock, debt securities, warrants to purchase our common stock, preferred stock or debt securities, subscription rights to purchase its common stock, preferred stock or debt securities and/or units consisting of some or all of these securities; and a sales agreement prospectus covering the offering, issuance and sale by the Company of up to a maximum aggregate offering price of $40,000,000 of its common stock that may be issued and sold under a sales agreement. The $40,000,000 of common stock that may be offered, issued and sold under the sales agreement prospectus is included in the $75,000,000 of securities that may be offered, issued and sold by the Company under the base prospectus. Pursuant to this shelf registration statement, the Company sold shares which raised net proceeds of $38,832,711 (net of $1,167,289 in issuance costs) during the third and fourth quarter of 2020.

Note 7 – Stockholders’ Equity continued

Common Stock Outstanding

Our outstanding common shares typically include shares that are deemed delivered under US GAAP. Shares that are deemed delivered currently include shares that have vested, but have not yet been delivered, under tax-deferred equity awards, as well as shares purchased under our Employee Stock Purchase Program (“ESPP”) where actual transfer of shares normally occurs a few days after the completion of the purchase periods. There are no voting rights for shares that are deemed delivered under US GAAP until the actual delivery of shares takes place. On July 24, 2020, the stockholders of the Company approved an increase of common shares authorized from 50,000,000 shares to 200,000,000 shares.

In August 2019, an aggregate of 38,666 shares of common stock were returned to the Company and retired in connection with the rescission of restricted stock unit agreements.

Stock Based Compensation

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock Based Compensation

Note 8 – Stock Based Compensation

Equity Incentive Plans

2013 Equity Incentive Plan

Effective on May 26, 2020, the Company’s stockholders approved the amendment and restatement of the 2013 Equity Incentive Plan to increase the number of shares reserved for issuance thereunder by 1,200,000 shares, bringing to 7,285,967 the total number of shares approved for issuance under that plan.

As of December 31, 2020, 1,867,169 shares of common stock remain eligible to be issued through equity-based instruments under the 2013 Equity Incentive Plan.

2014 Non-Employee Equity Compensation Plan

Effective on May 26, 2020, the Company’s stockholders approved the amendment and restatement of the 2014 Non-employee Equity Compensation Plan to increase the number of shares reserved for issuance through equity-based instruments thereunder by 800,000 shares, bringing to 1,650,000 the total number of shares approved for issuance under that plan.

As of December 31, 2020, 998,971 shares of common stock remain eligible to be issued through equity-based instruments under the 2014 Non-Employee Equity Compensation Plan.

2015 Performance Share Unit Plan

Effective on May 26, 2020, the Company’s stockholders approved the amendment and restatement of the 2015 Performance Share Unit Plan to increase the number of shares reserved for issuance through equity-based instruments thereunder by 700,000 shares, bringing to 3,410,104 the total number of shares approved for issuance under that plan.

As of December 31, 2020, 2,131,951 shares of common stock remain eligible to be issued through equity-based instruments under the 2015 Performance Share Unit Plan.

Note 8 – Stock Based Compensation, continued

Equity Incentive Plans, continued

2017 Equity Inducement Plan

On December 28, 2017, the Board approved the 2017 Equity Inducement Plan. Under the plan, the Board reserved 600,000 shares for the grant of RSUs. These grants will be administered by the Board or a committee of the Board. These awards will be granted to individuals who (a) are being hired as an Employee by the Company or any Subsidiary and such Award is a material inducement to such person being hired; (b) are being rehired as an Employee following a bona fide period of interruption of employment with the Company or any Subsidiary; or (c) will become an Employee of the Company or any Subsidiary in connection with a merger or acquisition.

As of December 31, 2020, 139,276 shares of common stock remain available to be issued through equity-based instruments under the 2017 Equity Inducement Plan.

Employee Stock Purchase Plan

In April 2015, the Company’s Board approved the ESPP, under which 600,000 shares of common stock have been reserved for purchase by the Company’s employees, subject to approval by the stockholders. On May 21, 2015, the Company’s stockholders approved the ESPP. Effective on May 26, 2020, the Company’s stockholders approved the amendment and restatement of the Employee Stock Purchase Plan to increase the number of shares reserved for issuance through equity-based instruments thereunder by 250,000 shares, bringing to 850,000 the total number of shares approved for issuance under that plan. Under the ESPP, employees may designate an amount not less than 1% but not more than 10% of their annual compensation for the purchase of Company shares. No more than 7,500 shares may be purchased by an employee under the ESPP during an offering period. An offering period shall be six months in duration commencing on or about January 1 and July 1 of each year. The exercise price of the option will be the lesser of 85% of the fair market of the common stock on the first business day of the offering period and 85% of the fair market value of the common stock on the applicable exercise date.

As of December 31, 2020, 140,438 shares of common stock remain eligible to be issued under the ESPP. For the year ended December 31, 2020, eligible employees contributed $417,546 through payroll deductions to the ESPP and 275,312 shares were deemed delivered for the year ended December 31, 2020. For the year ended December 31, 2019, eligible employees contributed $457,362 through payroll deductions to the ESPP and 178,003 shares were deemed delivered for the year ended December 31, 2019.

Stock Option Award Activity

The following is a summary of the Company’s stock option activity during the year ended December 31, 2020:

	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Life In Years		Intrinsic Value
Outstanding at January 1, 2020		550,985	$	5.67		4.3	$	2,538
Granted		—		—		—		—
Exercised		—		—		—		—
Forfeited		—		—		—		—
Outstanding at December 31, 2020		550,985	$	5.67		3.2	$	3,384
Exercisable at December 31, 2020		550,985	$	5.67		3.2	$	3,384

As of December 31, 2020, the unamortized value of options was $0.

The aggregate intrinsic value of options exercised was $0 and $55,940 for the years ended December 31, 2020 and 2019, respectively.

No options were granted during the years ended December 31, 2020 and 2019.

Note 8 – Stock Based Compensation, continued

Restricted Stock Units (“RSUs”)

During the year ended December 31, 2020, the Compensation Committee of the Board (“Compensation Committee”) granted various employees RSUs under which the holders have the right to receive an aggregate 674,656 shares of common stock. The majority of these awards, granted under the 2013 Equity Incentive Plan, vest over terms ranging from two to four years.

During the year ended December 31, 2020, the Compensation Committee granted various directors and consultants RSUs under which the holders have the right to receive an aggregate 142,953 shares of common stock. These awards were granted under the 2014 Non-Employee Equity Compensation Plan. The awards granted vest over terms from one to three years.

During the year ended December 31, 2020, the Compensation Committee granted employees RSUs under which the holders have the right to receive 187,500 shares of common stock. The awards, granted under the 2017 Equity Inducement Plan, vest over four years beginning on the anniversary of the grant date.

In accordance with ASC 505-50, the Company estimates the fair value of the unvested portion of the RSU award each reporting period using the closing price of the Company’s common stock.

At December 31, 2020, the unamortized value of the RSUs was $4,467,049. The unamortized amount will be expensed over a weighted average period of 1.3 years. A summary of the activity related to RSUs for the year ended December 31, 2020 is presented below:

	Total			Weighted Average Grant Date Fair Value
Outstanding at January 1, 2020		1,821,852		$	10.05
RSUs granted		1,005,109		$	1.68
RSUs forfeited		(211,354	)	$	7.82
RSUs vested		(1,194,439	)	$	7.71
Outstanding at December 31, 2020		1,421,168		$	6.43

Performance Share Units (“PSUs”)

Performance share units (“PSUs”) are grants that vest upon the achievement of certain performance goals. The goals are commonly related to the Company’s revenue, market capitalization or market share price of the common stock.

During the year ended December 31, 2020, the Compensation Committee granted various employees PSUs under which the holders have the right to receive an aggregate 267,677 shares of common stock. These awards were granted under the 2015 Performance Share Unit Plan. The awards granted vest upon achievement of Company-wide revenue goals.

Compensation expense amortization for all PSU awards was $(88,348) and $88,348 for the years ended December 31, 2020 and 2019, respectively.

Note 8 – Stock Based Compensation, continued

Performance Share Units (“PSUs”), continued

At December 31, 2020, the unamortized value of all PSUs was $0. A summary of the activity related to PSUs for the year ended December 31, 2020 is presented below:

	Total			Weighted Average Grant Date Fair Value
Outstanding at January 1, 2020		428,000		$	2.09
PSUs granted		267,677		$	1.27
PSUs forfeited		(695,677	)	$	1.77
PSUs vested		—		$	—
Outstanding at December 31, 2020		—		$	—

Employee Stock Purchase Plan (“ESPP”)

During the years ended December 31, 2020 and 2019, there were two offering periods per year for the ESPP. The first offering period started on January 1 of each year and concluded on June 30 of each year. The second offering period started on July 1 of each year and concluded on December 31 of each year.

The weighted-average grant-date fair value of the purchase option for each designated share purchased under this plan was approximately $1.18 and $2.02 during the years ended December 31, 2020 and 2019, respectively, which represents the fair value of the option, consisting of three main components: (i) the value of the discount on the enrollment date, (ii) the proportionate value of the call option for 85% of the stock and (iii) the proportionate value of the put option for 15% of the stock. The Company recognized stock-based compensation expense for the plan of $329,461 and $368,021 for the years ended December 31, 2020 and 2019, respectively.

The Company estimated the fair value of the purchase options granted during the years ended December 31, 2020 and 2019 using the Black-Scholes option pricing model. The fair values of the purchase options granted were estimated using the following assumptions:

	For the Year Ended December 31, 2020
Stock price range	$	1.77 – 2.96
Dividend yield		0	%
Expected volatility range		61 – 182	%
Risk-free interest rate range		0.17 – 1.57	%
Expected life		6 months

	For the Year Ended December 31, 2019
Stock price range	$	4.27 – 5.79
Dividend yield		0	%
Expected volatility range		83 – 96	%
Risk-free interest rate range		2.10 – 2.53	%
Expected life		6 months

Note 8 – Stock Based Compensation, continued

Stock-Based Compensation Expense

The following tables summarize total stock-based compensation costs recognized for years ended December 31, 2020 and 2019:

	For the Years Ended December 31,
	2020			2019
RSUs	$	7,656,857		$	10,190,211
PSUs		(88,348	)		88,348
ESPP		329,461			368,021
Total	$	7,897,970		$	10,646,580

The total amount of stock-based compensation was reflected within the statements of operations as:

	For the Years Ended December 31,
	2020		2019
Research and development	$	3,933,292	$	5,419,627
Sales and marketing		1,504,724		1,561,319
General and administrative		2,459,954		3,665,634
Total	$	7,897,970	$	10,646,580

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

Note 9 – Income Taxes

On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law. The CARES Act includes provisions relating to refundable payroll tax credits, net operating loss carryback periods, alternative minimum tax refunds, modifications to the net interest deduction limitations and technical corrections to the tax depreciation methods for qualified improvement property. The CARES Act has an immaterial impact on the Company’s income taxes.

The Company accounts for income taxes in accordance with ASC 740, “Income Taxes” (“ASC 740”). ASC 740 requires an asset and liability approach for financial accounting and reporting for income taxes and establishes for all entities a minimum threshold for financial statement recognition of the benefit of tax positions and requires certain expanded disclosures. The provision for income taxes is based upon income or loss after adjustment for those permanent items that are not considered in the determination of taxable income. Deferred income taxes represent the tax effects of differences between the financial reporting and tax bases of the Company’s assets and liabilities at the enacted tax rates in effect for the years in which the differences are expected to reverse. The Company evaluates the recoverability of deferred tax assets and establishes a valuation allowance when it is more likely than not that some portion, or all, of the deferred tax assets will not be realized. As of December 31, 2020, the Company has recorded a full valuation allowance.

Note 9 – Income Taxes, continued

As of December 31, 2020 and 2019, the Company’s deferred tax assets (liabilities) consisted of the effects of temporary differences attributable to the following:

	December 31,
	2020			2019
Deferred tax assets:
Research and development tax credits	$	8,371,302		$	7,390,441
Net operating loss carryovers		57,563,810			47,460,988
Property and equipment		219,461			241,000
Research and development costs		12,578,612			15,083,114
Start-up and organizational costs		540			618
Stock-based compensation		4,041,136			3,420,667
Operating lease liability		245,811			594,507
Other accruals		270,912			276,512
Total gross deferred tax assets		83,291,584			74,467,847
Less: valuation allowance		(82,929,675	)		(73,892,063	)
Total deferred tax assets		361,909			575,784
Deferred tax liabilities:
Operating lease right-of-use asset		(361,909	)		(575,784	)
Total deferred tax liabilities		(361,909	)		(575,784	)
Total deferred taxes, net	$	—		$	—

The change in the Company’s valuation allowance is as follows:

	2020		2019
January 1,	$	73,892,063	$	63,349,287
Increase in valuation allowance		9,037,612		10,542,776
December 31,	$	82,929,675	$	73,892,063

The Company has federal and state net operating loss carryforwards of approximately $205,474,000 and $206,403,000, respectively, available to offset future taxable income. The federal and state NOL carryforwards will expire at various dates beginning in 2034. The Company has federal and state research and development tax credit carryforwards of approximately $5,092,000 and $4,151,000, respectively. The federal R&D credit carryforwards will expire beginning in 2033 and state R&D credit carryforwards do not expire. The ultimate realization of the net operating loss is dependent upon future taxable income, if any, of the Company. Although management believes that the Company may have sufficient future taxable income to absorb the net operating loss carryforwards and research and development tax credit carryforwards before the expiration of the carryforward period, there may be circumstances beyond the Company’s control that limit such utilization. Accordingly, management has determined that a full valuation allowance of the deferred tax asset is appropriate at December 31, 2020 and 2019.

Note 9 – Income Taxes, continued

Internal Revenue Code Section 382 imposes limitations on the use of net operating loss carryforwards when the stock ownership of one or more 5% stockholders (stockholders owning 5% or more of the Company’s outstanding capital stock) has increased on a cumulative basis by more than 50 percentage points. Management cannot control the ownership changes occurring as a result of public trading of the Company’s Common Stock. Accordingly, there is a risk of an ownership change beyond the control of the Company that could trigger a limitation of the use of the loss carryforward. The Company completed a Section 382 analysis as of December 31, 2020 and determined that none of its NOLs or R&D credits would be limited.

	For the Year Ended December 31,
	2020			2019
Tax benefit at federal statutory rate		(21.0	)%		(21.0	)%
State income taxes		(6.7	)		(5.7	)
Permanent differences:
Stock-based compensation		3.6			3.1
Meals and entertainment		—			0.1
Executive compensation		(1.2	)		1.0
True-up of federal deferred taxes		—			(1.3	)
True-up of state deferred taxes		0.1			(0.1	)
Change in effective tax rate		(0.1	)		—
Research and development tax credit, federal		(2.0	)		(2.1	)
Research and development tax credit, state		(1.3	)		(1.4	)
Increase in valuation allowance, federal		20.6			20.2
Increase in valuation allowance, state		8.0			7.2
Effective income tax rate		0.0	%		0.0	%

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related Party Transactions

Note 10 – Related Party Transactions

In November 2016, the Company and Dialog entered into an alliance agreement for the manufacture, distribution and commercialization of products incorporating the Company’s wire-free charging technology (See Note 6 – Commitments and Contingencies, Strategic Alliance Agreement). On November 7, 2016 and June 28, 2017, the Company and Dialog entered into securities purchase agreements under which Dialog acquired a total of 1,739,691 shares and received warrants to purchase up to 1,417,565 shares. As of December 31, 2020, none of the warrants remain outstanding. Dialog presently owns approximately 2.8% of the Company’s outstanding common shares. The Company recorded $0 and $7,100 in royalty revenue for the years ended December 31, 2020 and 2019, respectively, pursuant to the Strategic Alliance Agreement. Additionally, the Company recorded $130,000 and $0 in contract services revenue during the years ended December 31, 2020 and 2019, respectively. The Company also recorded related expenses of $126,539 and $0 in cost of services revenue during the years ended December 31, 2020 and 2019, respectively.

Unaudited Quarterly Financial Information

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Financial Information

Note 11 – Unaudited Quarterly Financial Information

Summarized quarterly information for the years ended December 31, 2020 and 2019 is listed below:

	For the quarter ended
	March 31			June 30			September 30			December 31
2020
Revenue	$	61,475		$	114,375		$	61,500		$	90,000
Operating expenses	$	8,715,150		$	8,327,015		$	7,621,558		$	7,562,791
Net loss	$	(8,597,736	)	$	(8,204,666	)	$	(7,556,837	)	$	(7,472,847	)
Loss per share, basic and diluted	$	(0.25	)	$	(0.20	)	$	(0.18	)	$	(0.15	)

2019
Revenue	$	66,500		$	47,500		$	40,500		$	45,643
Operating expenses	$	11,162,041		$	9,994,156		$	8,342,569		$	9,509,277
Net loss	$	(11,019,468	)	$	(9,803,996	)	$	(8,184,227	)	$	(9,391,398	)
Loss per share, basic and diluted	$	(0.39	)	$	(0.32	)	$	(0.27	)	$	(0.29	)

Customer Concentration

12 Months Ended

Dec. 31, 2020

Risks And Uncertainties [Abstract]

Customer Concentration

Note 12 – Customer Concentration

Three customers accounted for approximately 66% of the Company’s revenue for the year ended December 31, 2020 and four customers accounted for approximately 52% of the Company’s revenue for the year ended December 31, 2019. Four customers accounted for approximately 92% of the Company’s accounts receivable balance as of December 31, 2020. Four customers accounted for nearly 100% of the Company’s accounts receivable balance as of December 31, 2019.

Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Subsequent Event

Note 13 – Subsequent Event

On February 8, 2021, Renesas Electronics Corporation announced the planned acquisition of Dialog Semiconductor Corporation. The Company has a strategic agreement with Dialog (see Note 6 – Commitments and Contingencies, Strategic Alliance Agreement).

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of Presentation

Use of Estimates

Note 3 – Summary of Significant Accounting Policies, continued

Use of Estimates continued

Cash and Cash Equivalents

Revenue Recognition

On January 1, 2018, the Company adopted Accounting Standards Update No. 2014-09, "Revenue from Contracts with Customers" (Topic 606).

In accordance with Topic 606, the Company recognizes revenue using the following five-step approach:

Identify the contract with the customer.

Identify the performance obligations in the contract.

Determine the transaction price of the contract.

Allocate the transaction price to the performance obligations of the contract.

Recognize revenue when the performance obligations are met or delivered.

The Company records royalty revenue from its manufacturing partner, Dialog, and such royalty revenue is recognized at a point in time based on shipments from Dialog to its customers.

Research and Development

Note 3 – Summary of Significant Accounting Policies, continued

Research and Development

Stock-Based Compensation

Income Taxes

Net Loss Per Common Share

Note 3 – Summary of Significant Accounting Policies, continued

Net Loss Per Common Share continued

Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.

	For the Years Ended December 31,
	2020		2019
Warrants issued to private investors		3,284,789		3,938,802
Options to purchase common stock		550,985		550,985
RSUs		1,421,168		1,821,852
PSUs		—		428,000
Total potentially dilutive securities		5,256,942		6,739,639

Leases

Recent Accounting Pronouncements

Management's Evaluation of Subsequent Events

Management’s Evaluation of Subsequent Events

The Company evaluates events that have occurred after the balance sheet date of December 31, 2020, through the date which the financial statements are issued.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

Note 3 – Summary of Significant Accounting Policies, continued

Net Loss Per Common Share continued

Potentially dilutive securities outlined in the table below have been excluded from the computation of diluted net loss per share because the effect of their inclusion would have been anti-dilutive.

	For the Years Ended December 31,
	2020		2019
Warrants issued to private investors		3,284,789		3,938,802
Options to purchase common stock		550,985		550,985
RSUs		1,421,168		1,821,852
PSUs		—		428,000
Total potentially dilutive securities		5,256,942		6,739,639

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Summary of Property and Equipment

Property and equipment are as follows:

	As of December 31,
	2020			2019
Computer software	$	862,343		$	917,499
Computer hardware		2,012,041			2,442,369
Furniture and fixtures		508,371			517,864
Leasehold improvements		776,563			776,563
		4,159,318			4,654,295
Less – accumulated depreciation		(3,756,607	)		(4,027,771	)
Total property and equipment, net	$	402,711		$	626,524

Accrued Expenses (Tables)

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Summary of Accrued Expenses

Accrued expenses consist of the following:

	As of December 31,
	2020		2019
Accrued compensation	$	1,246,151	$	1,097,997
Accrued research and development		—		524,861
Accrued legal expenses		205,579		253,730
Other accrued expenses		124,557		186,509
Total	$	1,576,287	$	2,063,097

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases

The future minimum lease payments for leased locations are as follows:

For the Year Ended December 31,	Amount
2021	$	863,199
2022		584,469
Total future lease payments		1,447,668
Present value discount (4% weighted average)		(45,475	)
Total operating lease liabilities	$	1,402,193

Stock Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activity

The following is a summary of the Company’s stock option activity during the year ended December 31, 2020:

	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Life In Years		Intrinsic Value
Outstanding at January 1, 2020		550,985	$	5.67		4.3	$	2,538
Granted		—		—		—		—
Exercised		—		—		—		—
Forfeited		—		—		—		—
Outstanding at December 31, 2020		550,985	$	5.67		3.2	$	3,384
Exercisable at December 31, 2020		550,985	$	5.67		3.2	$	3,384

Schedule of Restricted Stock Units Activity

A summary of the activity related to RSUs for the year ended December 31, 2020 is presented below:

	Total			Weighted Average Grant Date Fair Value
Outstanding at January 1, 2020		1,821,852		$	10.05
RSUs granted		1,005,109		$	1.68
RSUs forfeited		(211,354	)	$	7.82
RSUs vested		(1,194,439	)	$	7.71
Outstanding at December 31, 2020		1,421,168		$	6.43

Summary of Activity Related to PSUs

A summary of the activity related to PSUs for the year ended December 31, 2020 is presented below:

	Total			Weighted Average Grant Date Fair Value
Outstanding at January 1, 2020		428,000		$	2.09
PSUs granted		267,677		$	1.27
PSUs forfeited		(695,677	)	$	1.77
PSUs vested		—		$	—
Outstanding at December 31, 2020		—		$	—

Summary of Fair Values of Purchase Options Granted

The fair values of the purchase options granted were estimated using the following assumptions:

	For the Year Ended December 31, 2020
Stock price range	$	1.77 – 2.96
Dividend yield		0	%
Expected volatility range		61 – 182	%
Risk-free interest rate range		0.17 – 1.57	%
Expected life		6 months

	For the Year Ended December 31, 2019
Stock price range	$	4.27 – 5.79
Dividend yield		0	%
Expected volatility range		83 – 96	%
Risk-free interest rate range		2.10 – 2.53	%
Expected life		6 months

Summary of Stock-based Compensation Costs Recognized

The following tables summarize total stock-based compensation costs recognized for years ended December 31, 2020 and 2019:

	For the Years Ended December 31,
	2020			2019
RSUs	$	7,656,857		$	10,190,211
PSUs		(88,348	)		88,348
ESPP		329,461			368,021
Total	$	7,897,970		$	10,646,580

Summary of Stock-based Compensation Reflected within Statements of Operations

The total amount of stock-based compensation was reflected within the statements of operations as:

	For the Years Ended December 31,
	2020		2019
Research and development	$	3,933,292	$	5,419,627
Sales and marketing		1,504,724		1,561,319
General and administrative		2,459,954		3,665,634
Total	$	7,897,970	$	10,646,580

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Deferred Tax Assets and Liabilities

Note 9 – Income Taxes, continued

As of December 31, 2020 and 2019, the Company’s deferred tax assets (liabilities) consisted of the effects of temporary differences attributable to the following:

	December 31,
	2020			2019
Deferred tax assets:
Research and development tax credits	$	8,371,302		$	7,390,441
Net operating loss carryovers		57,563,810			47,460,988
Property and equipment		219,461			241,000
Research and development costs		12,578,612			15,083,114
Start-up and organizational costs		540			618
Stock-based compensation		4,041,136			3,420,667
Operating lease liability		245,811			594,507
Other accruals		270,912			276,512
Total gross deferred tax assets		83,291,584			74,467,847
Less: valuation allowance		(82,929,675	)		(73,892,063	)
Total deferred tax assets		361,909			575,784
Deferred tax liabilities:
Operating lease right-of-use asset		(361,909	)		(575,784	)
Total deferred tax liabilities		(361,909	)		(575,784	)
Total deferred taxes, net	$	—		$	—

Summary of Valuation Allowance

The change in the Company’s valuation allowance is as follows:

	2020		2019
January 1,	$	73,892,063	$	63,349,287
Increase in valuation allowance		9,037,612		10,542,776
December 31,	$	82,929,675	$	73,892,063

Schedule of Effective Income Tax Rate Reconciliation

	For the Year Ended December 31,
	2020			2019
Tax benefit at federal statutory rate		(21.0	)%		(21.0	)%
State income taxes		(6.7	)		(5.7	)
Permanent differences:
Stock-based compensation		3.6			3.1
Meals and entertainment		—			0.1
Executive compensation		(1.2	)		1.0
True-up of federal deferred taxes		—			(1.3	)
True-up of state deferred taxes		0.1			(0.1	)
Change in effective tax rate		(0.1	)		—
Research and development tax credit, federal		(2.0	)		(2.1	)
Research and development tax credit, state		(1.3	)		(1.4	)
Increase in valuation allowance, federal		20.6			20.2
Increase in valuation allowance, state		8.0			7.2
Effective income tax rate		0.0	%		0.0	%

Unaudited Quarterly Financial Information (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

Summarized quarterly information for the years ended December 31, 2020 and 2019 is listed below:

	For the quarter ended
	March 31			June 30			September 30			December 31
2020
Revenue	$	61,475		$	114,375		$	61,500		$	90,000
Operating expenses	$	8,715,150		$	8,327,015		$	7,621,558		$	7,562,791
Net loss	$	(8,597,736	)	$	(8,204,666	)	$	(7,556,837	)	$	(7,472,847	)
Loss per share, basic and diluted	$	(0.25	)	$	(0.20	)	$	(0.18	)	$	(0.15	)

2019
Revenue	$	66,500		$	47,500		$	40,500		$	45,643
Operating expenses	$	11,162,041		$	9,994,156		$	8,342,569		$	9,509,277
Net loss	$	(11,019,468	)	$	(9,803,996	)	$	(8,184,227	)	$	(9,391,398	)
Loss per share, basic and diluted	$	(0.39	)	$	(0.32	)	$	(0.27	)	$	(0.29	)

Liquidity and Management Plans - Additional Information (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Liquidity And Management Plans [Line Items]
Engineering product development	$ 90,000	$ 61,500	$ 114,375	$ 61,475	$ 45,643	$ 40,500	$ 47,500	$ 66,500	$ 327,350	$ 200,143
Net loss	(7,472,847)	$ (7,556,837)	$ (8,204,666)	$ (8,597,736)	(9,391,398)	$ (8,184,227)	$ (9,803,996)	$ (11,019,468)	(31,832,086)	(38,399,089)
Net cash provided by (used in) operating activities									(24,791,545)	(26,621,145)
Proceeds of securities offerings					4,557,693				53,556,202	23,319,156
Cash and cash equivalents, at carrying value, total	$ 50,729,661				$ 21,684,089				50,729,661	21,684,089
Technology Service [Member]
Liquidity And Management Plans [Line Items]
Engineering product development									$ 327,350	$ 200,143

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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+ Details

Significant Accounting Policies - Additional Information (Detail) - USD ($)		3 Months Ended								12 Months Ended
	Apr. 30, 2015	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Revenue		$ 90,000	$ 61,500	$ 114,375	$ 61,475	$ 45,643	$ 40,500	$ 47,500	$ 66,500	$ 327,350	$ 200,143
Research and development expense, total										17,066,122	23,228,810
Liability for unrecognized tax benefits		$ 0								0
Interest or penalties for uncertain tax positions										$ 0	$ 0
Antidilutive securities excluded from computation of earnings per share, amount										5,256,942	6,739,639
Employee Stock Purchase Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Common stock purchase price discount percentage	85.00%									15.00%
Product Development Projects Revenue [Member]
Summary Of Significant Accounting Policies [Line Items]
Revenue										$ 197,350	$ 193,043
Royalty Revenue [Member]
Summary Of Significant Accounting Policies [Line Items]
Revenue										0	7,100
Contract Services Revenue [Member]
Summary Of Significant Accounting Policies [Line Items]
Revenue										$ 130,000	$ 0

Summary of Significant Accounting Policies - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Summary Of Significant Accounting Policies [Line Items]
Total potentially dilutive securities	5,256,942	6,739,639
Warrants Issued to Private Investors [Member]
Summary Of Significant Accounting Policies [Line Items]
Total potentially dilutive securities	3,284,789	3,938,802
Employee Stock Option [Member]
Summary Of Significant Accounting Policies [Line Items]
Total potentially dilutive securities	550,985	550,985
Restricted Stock Units (RSUs) [Member]
Summary Of Significant Accounting Policies [Line Items]
Total potentially dilutive securities	1,421,168	1,821,852
Performance Share Units [Member]
Summary Of Significant Accounting Policies [Line Items]
Total potentially dilutive securities		428,000

Property and Equipment - Summary of Property and Equipment (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 4,159,318	$ 4,654,295
Less – accumulated depreciation	(3,756,607)	(4,027,771)
Total property and equipment, net	402,711	626,524
Computer Software [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	862,343	917,499
Computer Hardware [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	2,012,041	2,442,369
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	508,371	517,864
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross, Total	$ 776,563	$ 776,563

Property and Equipment - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 356,310	$ 781,228
Computer Hardware and Software [Member]
Property, Plant and Equipment [Line Items]
Disposal of property, plant and equipment	$ 631,608	$ 1,205,962
Computer Hardware [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	3 years
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	7 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	remaining life of the lease.
Minimum [Member] \| Computer Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	1 year
Maximum [Member] \| Computer Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life	2 years

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Payables And Accruals [Abstract]
Accrued compensation	$ 1,246,151	$ 1,097,997
Accrued research and development		524,861
Accrued legal expenses	205,579	253,730
Other accrued expenses	124,557	186,509
Total	$ 1,576,287	$ 2,063,097

Commitments and Contingencies - Operating Leases - Additional Information (Detail) - USD ($)	1 Months Ended
	Oct. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Jul. 15, 2019	Jul. 01, 2019	Jan. 01, 2019
Commitments And Contingencies [Line Items]
Operating lease right-of-use assets		$ 1,293,291	$ 2,057,576
Operating lease liabilities		825,431	722,291
Total operating lease payments		1,447,668
Long-term portion of operating lease liabilities		576,762	$ 1,402,193
ASU No. 2016-02 [Member]
Commitments And Contingencies [Line Items]
Operating lease right-of-use assets		1,293,291				$ 414,426
Operating lease liabilities		825,431				$ 485,747
Total operating lease payments		1,447,668
Long-term portion of operating lease liabilities		$ 576,762
Weighted average remaining lease term		1 year 8 months 12 days
San Jose, California [Member]
Commitments And Contingencies [Line Items]
Operating lease, renewal term					3 years
Operating leases, rent expense	$ 52,970
San Jose, California [Member] \| Maximum [Member]
Commitments And Contingencies [Line Items]
Maximum monthly lease payment	64,941
Costa Mesa, California [Member]
Commitments And Contingencies [Line Items]
Operating lease, renewal term				2 years
Operating leases, rent expense	9,773
Costa Mesa, California [Member] \| Maximum [Member]
Commitments And Contingencies [Line Items]
Maximum monthly lease payment	$ 10,200

Commitments and Contingencies - Schedule of Future Minimum Rental Payments for Operating Leases (Detail)	Dec. 31, 2020 USD ($)
Operating Leases Future Minimum Payments Due [Abstract]
2021	$ 863,199
2022	584,469
Total future lease payments	1,447,668
Present value discount (4% weighted average)	(45,475)
Total operating lease liabilities	$ 1,402,193

Commitments and Contingencies - Hosted Design Solution Agreement - Additional Information (Detail) - Hosted Design Solution Agreement [Member] - USD ($)			1 Months Ended
	Dec. 18, 2015	Jun. 25, 2015	Jul. 31, 2018	Jul. 31, 2015
Commitments And Contingencies [Line Items]
Initial term of agreement		3 years
Quarterly payments for service agreement	$ 198,000		$ 218,000	$ 101,000
Additional term of agreement			3 years

Commitments and Contingencies - MBO Bonus Plan - Additional Information (Detail) - Executive Officers [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments And Contingencies [Line Items]
Expense recognized by company	$ 1,305,723	$ 1,048,375
Accrued Expenses [Member]
Commitments And Contingencies [Line Items]
Bonus accrued but not yet paid	$ 438,745

Commitments and Contingencies - Amended Employee Agreement - Stephen Rizzone - Additional Information (Detail) - Mr. Rizzone [Member] - USD ($)		12 Months Ended
	Jan. 01, 2015	Dec. 31, 2020
Commitments And Contingencies [Line Items]
Agreement effective date	Jan. 01, 2015
Initial term of agreement	4 years
Officers' compensation		$ 365,000
Employment agreement percentage of base salary		100.00%

Commitments and Contingencies - Strategic Alliance Agreement - Additional Information (Detail)	1 Months Ended
	Nov. 30, 2016
Strategic Alliance Agreement [Member]
Commitments And Contingencies [Line Items]
Initial term of agreement	7 years

Stockholders' Equity - Additional Information (Detail)			1 Months Ended		3 Months Ended					12 Months Ended
Stockholders' Equity - Additional Information (Detail)	Sep. 24, 2020 USD ($)	Aug. 17, 2018 USD ($)	Aug. 31, 2019 shares	Mar. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) Vote shares	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($) shares	Dec. 31, 2020 USD ($) Vote shares	Dec. 31, 2019 USD ($) shares	Jul. 24, 2020 shares
Class of Stock [Line Items]
Number of common stock voting entitlement per share \| Vote					1					1
Proceeds from private offering of shares of common stock and warrants				$ 23,319,156							$ 23,319,156
Net of issuance costs from offering of shares				$ 1,680,844			$ 236,528	$ 141,322	$ 339,081
Class of warrant or right, number of securities called by warrants or rights \| shares				1,666,666
Class of warrant or right, exercise price of warrants or rights \| $ / shares				$ 10.00
Proceeds from at the market offering of shares of common stock and warrants							$ 9,216,611	$ 5,506,880	$ 4,557,693	$ 53,556,202	$ 4,557,693
At-the-market ("ATM") funds receivable					$ 38,832,711	$ 38,832,711
Accounting issuance costs will be paid	$ 1,167,289
Common stock outstanding abstract										Our outstanding common shares typically include shares that are deemed delivered under US GAAP. Shares that are deemed delivered currently include shares that have vested, but have not yet been delivered, under tax-deferred equity awards, as well as shares purchased under our Employee Stock Purchase Program (“ESPP”) where actual transfer of shares normally occurs a few days after the completion of the purchase periods. There are no voting rights for shares that are deemed delivered under US GAAP until the actual delivery of shares takes place. On July 24, 2020, the stockholders of the Company approved an increase of common shares authorized from 50,000,000 shares to 200,000,000 shares.
Common stock, shares authorized \| shares					200,000,000				50,000,000	200,000,000	50,000,000
Common Stock [Member]
Class of Stock [Line Items]
Proceeds from private offering of shares of common stock and warrants											$ 33
Proceeds from at the market offering of shares of common stock and warrants										$ 266	$ 21
Number of shares returned \| shares											38,666
RSU Rescission Agreements [Member] \| Common Stock [Member]
Class of Stock [Line Items]
Number of shares returned \| shares			38,666
Maximum [Member]
Class of Stock [Line Items]
Securities reserved for issuance	75,000,000
Common stock, shares authorized \| shares												200,000,000
Minimum [Member]
Class of Stock [Line Items]
Common stock, shares authorized \| shares												50,000,000
Consummation of Offering Under Shelf Registration [Member]
Class of Stock [Line Items]
Proceeds from shelf registration debt or equity securities		$ 75,000,000
Sales Agreement [Member]
Class of Stock [Line Items]
Sale of stock, Description										The $40,000,000 of common stock that may be offered, issued and sold under the sales agreement prospectus is included in the $75,000,000 of securities that may be offered, issued and sold by the Company under the base prospectus.
Sales Agreement [Member] \| Maximum [Member]
Class of Stock [Line Items]
Proceeds from (Payments for) in Securities Sold under Agreements	$ 40,000,000

Stock Based Compensation - Equity Incentive Plan - Additional Information (Detail) - USD ($)		12 Months Ended
	Apr. 30, 2015	Dec. 31, 2020	Dec. 31, 2019	May 26, 2020	Dec. 28, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee contribution through payroll withholdings		$ 417,546	$ 457,362
2015 Performance Share Unit Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance				700,000
Share-based compensation arrangement by share-based payment award, number of shares authorized for issuance				3,410,104
Common stock remain eligible to be issued		2,131,951
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period		1,005,109
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance	600,000			250,000
Share-based compensation arrangement by share-based payment award, number of shares authorized for issuance				850,000
Common stock remain eligible to be issued		140,438
Lowest percentage of annual compensation to be utilized by an employee for purchase of shares under the plan	1.00%
Highest percentage of annual compensation to be utilized by an employee for purchase of shares under the plan	10.00%
Maximum number of shares permitted to purchase	7,500
Offering period	6 months
Exercise price discount from fair value on offering date	85.00%
Exercise price discount from fair value on exercise date	85.00%	15.00%
Share-based compensation arrangement by share-based payment award, terms of award			In April 2015, the Company’s Board approved the ESPP, under which 600,000 shares of common stock have been reserved for purchase by the Company’s employees, subject to approval by the stockholders. On May 21, 2015, the Company’s stockholders approved the ESPP. Effective on May 26, 2020, the Company’s stockholders approved the amendment and restatement of the Employee Stock Purchase Plan to increase the number of shares reserved for issuance through equity-based instruments thereunder by 250,000 shares, bringing to 850,000 the total number of shares approved for issuance under that plan. Under the ESPP, employees may designate an amount not less than 1% but not more than 10% of their annual compensation for the purchase of Company shares. No more than 7,500 shares may be purchased by an employee under the ESPP during an offering period. An offering period shall be six months in duration commencing on or about January 1 and July 1 of each year. The exercise price of the option will be the lesser of 85% of the fair market of the common stock on the first business day of the offering period and 85% of the fair market value of the common stock on the applicable exercise date.
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period		275,312	178,003
2013 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance				1,200,000
Share-based compensation arrangement by share-based payment award, number of shares authorized for issuance				7,285,967
Common stock remain eligible to be issued		1,867,169
Non-Employee Equity Compensation Plan 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance				800,000
Share-based compensation arrangement by share-based payment award, number of shares authorized for issuance				1,650,000
Common stock remain eligible to be issued		998,971
2017 Equity Inducement Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock remain eligible to be issued		139,276
2017 Equity Inducement Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance					600,000

Stock Based Compensation - Summary of Stock Option Activity (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Granted	0	0
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Outstanding	550,985
Number of Options, Granted	0
Number of Options, Exercised	0
Number of Options, Forfeited	0
Number of Options, Outstanding	550,985	550,985
Number of Options, Exercisable	550,985
Weighted Average Exercise Price, Outstanding	$ 5.67
Weighted Average Exercise Price, Granted	0
Weighted Average Exercise Price, Exercised	0
Weighted Average Exercise Price, Forfeited	0
Weighted Average Exercise Price, Outstanding	5.67	$ 5.67
Weighted Average Exercise Price, Exercisable	$ 5.67
Weighted Average Remaining Life In Years, Outstanding	3 years 2 months 12 days	4 years 3 months 18 days
Weighted Average Remaining Life In Years, Exercisable	3 years 2 months 12 days
Intrinsic Value, Outstanding	$ 3,384	$ 2,538
Intrinsic Value, Exercisable	$ 3,384

Stock Based Compensation - Stock Option Award Activity - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, options, exercises in period, intrinsic value	$ 0	$ 55,940
Options granted	0	0
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation not yet recognized, stock options	$ 0

Stock Based Compensation - Restricted Stock Units - Additional Information (Detail) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2020 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee service share-based compensation, nonvested awards, compensation not yet recognized, share-based awards other than options \| $	$ 4,467,049
Employee service share-based compensation, nonvested awards, compensation cost not yet recognized, period for recognition	1 year 3 months 18 days
2013 Equity Incentive Plan [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	2 years
2013 Equity Incentive Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	4 years
2013 Equity Incentive Plan [Member] \| Employee [Member] \| Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period	674,656
Non-Employee Equity Compensation Plan 2014 [Member] \| Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period	142,953
Non-Employee Equity Compensation Plan 2014 [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	1 year
Non-Employee Equity Compensation Plan 2014 [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, award vesting period	3 years
2017 Equity Inducement Plan [Member] \| Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period	187,500
Share-based compensation arrangement by share-based payment award, award vesting period	4 years

Stock Based Compensation - Schedule of Restricted Stock Units Activity (Detail) - Restricted Stock Units (RSUs) [Member]	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Outstanding \| shares	1,821,852
RSUs granted \| shares	1,005,109
RSUs forfeited \| shares	(211,354)
RSUs vested \| shares	(1,194,439)
Number of Options, Outstanding \| shares	1,421,168
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 10.05
Weighted Average Grant Date Fair Value, RSUs granted \| $ / shares	1.68
Weighted Average Grant Date Fair Value, RSUs forfeited \| $ / shares	7.82
Weighted Average Grant Date Fair Value, RSUs vested \| $ / shares	7.71
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares	$ 6.43

Stock Based Compensation - Performance Share Units - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ (88,348)	$ 88,348
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period	267,677
Allocated share-based compensation expense	$ (88,348)	$ 88,348
Share based compensation arrangement by share based payment award unamortized value	$ 0
2015 Performance Share Unit Plan [Member] \| Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period	267,677

Stock Based Compensation - Summary of Activity Related to PSUs (Detail) - Performance Shares [Member]	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Options, Outstanding \| shares	428,000
PSUs granted \| shares	267,677
PSUs forfeited \| shares	(695,677)
PSUs / DSUs vested \| shares	0
Number of Options, Outstanding \| shares
Weighted Average Grant Date Fair Value, Beginning Balance \| $ / shares	$ 2.09
Weighted Average Grant Date Fair Value, PSUs granted \| $ / shares	1.27
Weighted Average Grant Date Fair Value, PSUs forfeited \| $ / shares	1.77
Weighted Average Grant Date Fair Value, PSUs vested \| $ / shares	$ 0
Weighted Average Grant Date Fair Value, Ending Balance \| $ / shares

Stock Based Compensation - Employee Stock Purchase Plan - Additional Information (Detail) - Employee Stock Purchase Plan [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, equity instruments other than options, grants in period, weighted average grant date fair value	$ 1.18	$ 2.02
Percentage of proportionate value of call option of stock	85.00%
Percentage of proportionate value of put option of stock	15.00%
Allocated share-based compensation expense	$ 329,461	$ 368,021

Stock Based Compensation - Summary of Fair Values of Purchase Options Granted (Detail) - Employee Stock Purchase Plan [Member] - Employee Stock Option [Member] - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected life	6 months	6 months
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price range	$ 1.77	$ 4.27
Expected volatility range	61.00%	83.00%
Risk-free interest rate range	0.17%	2.10%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock price range	$ 2.96	$ 5.79
Expected volatility range	182.00%	96.00%
Risk-free interest rate range	1.57%	2.53%

Stock Based Compensation -Summary of Stock-based Compensation Costs Recognized (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total	$ 7,897,970	$ 10,646,580
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	7,656,857	10,190,211
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	(88,348)	88,348
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 329,461	$ 368,021

Stock Based Compensation - Summary of Stock-based Compensation Reflected within Statements of Operations (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based Compensation, Total	$ 7,897,970	$ 10,646,580
Research and Development Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	3,933,292	5,419,627
Selling and Marketing Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	1,504,724	1,561,319
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated share-based compensation expense	$ 2,459,954	$ 3,665,634

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
Tax Cuts and Jobs Act of 2017 Accounting Complete	true
Deferred tax assets, tax credit carryforwards, research	$ 8,371,302	$ 7,390,441
Tax credit carry forward expiration period	2034
Operating loss carryforwards, limitations on use	Stock ownership of one or more 5% stockholders (stockholders owning 5% or more of the Company's outstanding capital stock) has increased on a cumulative basis by more than 50 percentage points.
Domestic Tax Authority [Member]
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 205,474,000
Deferred tax assets, tax credit carryforwards, research	$ 5,092,000
Tax credit research and development expiration period	2033
State and Local Jurisdiction [Member]
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 206,403,000
Deferred tax assets, tax credit carryforwards, research	$ 4,151,000

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Research and development tax credits	$ 8,371,302	$ 7,390,441
Net operating loss carryovers	57,563,810	47,460,988
Property and equipment	219,461	241,000
Research and development costs	12,578,612	15,083,114
Start-up and organizational costs	540	618
Stock-based compensation	4,041,136	3,420,667
Operating lease liability	245,811	594,507
Other accruals	270,912	276,512
Total gross deferred tax assets	83,291,584	74,467,847
Less: valuation allowance	(82,929,675)	(73,892,063)	$ (63,349,287)
Total deferred tax assets	361,909	575,784
Deferred tax liabilities:
Operating lease right-of-use asset	(361,909)	(575,784)
Total deferred tax liabilities	(361,909)	(575,784)
Total deferred taxes, net	$ 0	$ 0

Income Taxes - Summary of Valuation Allowance (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
January 1,	$ 73,892,063	$ 63,349,287
Increase in valuation allowance	9,037,612	10,542,776
December 31,	$ 82,929,675	$ 73,892,063

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Contingency [Line Items]
Tax benefit at federal statutory rate	(21.00%)	(21.00%)
State income taxes	(6.70%)	(5.70%)
Permanent differences:
Stock-based compensation	3.60%	3.10%
Meals and entertainment		0.10%
Executive compensation	(1.20%)	1.00%
Change in effective tax rate	(0.10%)
Effective income tax rate	0.00%	0.00%
Domestic Tax Authority [Member]
Permanent differences:
Effective income tax rate reconciliation, prior year income taxes, percent		(1.30%)
Effective income tax rate reconciliation, tax credit, research, percent	(2.00%)	(2.10%)
Effective income tax rate reconciliation, change in deferred tax assets valuation allowance, percent	20.60%	20.20%
State and Local Jurisdiction [Member]
Permanent differences:
Effective income tax rate reconciliation, prior year income taxes, percent	0.10%	(0.10%)
Effective income tax rate reconciliation, tax credit, research, percent	(1.30%)	(1.40%)
Effective income tax rate reconciliation, change in deferred tax assets valuation allowance, percent	8.00%	7.20%

Related Party Transactions - Additional Information (Detail) - USD ($)	8 Months Ended	12 Months Ended
	Jun. 28, 2017	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Related Party Transaction [Line Items]
Class of warrant or right, number of securities called by warrants or rights				1,666,666
Cost of services revenue		$ 126,539
Dialog Semiconductor Plc [Member]
Related Party Transaction [Line Items]
Equity method investment, ownership percentage		2.80%
Warrants outstanding		0
Contract Services [Member] \| Dialog Semiconductor Plc [Member]
Related Party Transaction [Line Items]
Revenue		$ 130,000	$ 0
Cost of services revenue		126,539	0
Strategic Alliance Agreement [Member] \| Royalty Revenue [Member]
Related Party Transaction [Line Items]
Revenue		$ 0	$ 7,100
Private Placements [Member] \| Dialog Semiconductor Plc [Member]
Related Party Transaction [Line Items]
Stock issued during period, shares, new issues	1,739,691
Private Placements [Member] \| Warrant Issued to Private Investors [Member] \| Dialog Semiconductor Plc [Member]
Related Party Transaction [Line Items]
Class of warrant or right, number of securities called by warrants or rights	1,417,565

Unaudited Quarterly Financial Information - Schedule of Quarterly Financial Information (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 90,000	$ 61,500	$ 114,375	$ 61,475	$ 45,643	$ 40,500	$ 47,500	$ 66,500	$ 327,350	$ 200,143
Operating expenses	7,562,791	7,621,558	8,327,015	8,715,150	9,509,277	8,342,569	9,994,156	11,162,041
Net loss	$ (7,472,847)	$ (7,556,837)	$ (8,204,666)	$ (8,597,736)	$ (9,391,398)	$ (8,184,227)	$ (9,803,996)	$ (11,019,468)	$ (31,832,086)	$ (38,399,089)
Loss per share, basic and diluted	$ (0.15)	$ (0.18)	$ (0.20)	$ (0.25)	$ (0.29)	$ (0.27)	$ (0.32)	$ (0.39)	$ (0.76)	$ (1.27)
Net loss	$ (7,472,847)	$ (7,556,837)	$ (8,204,666)	$ (8,597,736)	$ (9,391,398)	$ (8,184,227)	$ (9,803,996)	$ (11,019,468)	$ (31,832,086)	$ (38,399,089)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Customer Concentration - Additional Information (Detail) - Customer Concentration Risk [Member] - Customer	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Revenues [Member]
Concentration Risk [Line Items]
Number of customers	3	4
Concentration percentage	66.00%	52.00%
Accounts Receivable [Member]
Concentration Risk [Line Items]
Number of customers	4	4
Concentration percentage	92.00%	100.00%