Common Stock |
9 Months Ended |
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Sep. 30, 2021 | |
| Equity [Abstract] | |
| Common Stock |
5. Common Stock
The Company had and shares of common stock, $ par value per share, authorized as of September 30, 2021 and December 31, 2020, respectively. The Company had and shares issued and outstanding as of September 30, 2021 and December 31, 2020, respectively.
On August 6, 2021, the Company filed with the Delaware Secretary of State a Certificate of Amendment to the Certificate of Incorporation pursuant to which the number of shares of common stock the Company is authorized to issue was increased from shares to shares. The Certificate of Amendment was effective upon filing.
The holders of common stock are entitled to one vote for each share of common stock held.
On January 31, 2020, the Company closed a registered direct public offering of its common stock totaling, shares of common stock at a purchase price per share of $ for aggregate net proceeds to the Company of approximately $1.5 million, after deducting fees payable to the placement agent and other estimated offering expenses payable by the Company.
On February 28, 2020, the Company closed a registered direct public offering of its common stock totaling shares of common stock at a purchase price per share of $ for aggregate net proceeds to the Company of approximately $10.1 million, after deducting fees payable to the placement agent and other estimated offering expenses payable by the Company.
On March 10, 2020, the Company closed a registered direct public offering of its common stock totaling shares of common stock at a purchase price per share of $ for aggregate net proceeds to the Company of approximately $5.0 million, after deducting fees payable to the placement agent, lock-up settlement fee and other estimated offering expenses payable by the Company.
On July 1, 2020, the Company entered into an At-The-Market Offering Agreement (“ATM Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”), pursuant to which the Company may issue and sell over time and from time to time, to or through Wainwright, up to $10,000,000 of shares of the Company’s common stock. During January 2021, the Company sold shares of common stock under the ATM Agreement and received net proceeds of approximately $2,072,000.
On May 7, 2021, the Company closed an underwritten public offering of shares of the Company’s common stock at a public offering price of $ per share pursuant to an underwriting agreement with Wainwright. The Company received approximately $36.4 million in net proceeds from the offering, after deducting underwriting discounts and offering expenses.
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