Common Stock |
12 Months Ended |
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Dec. 31, 2021 | |
| Equity [Abstract] | |
| Common Stock |
6. Common Stock
As of December 31, 2021, the Company has authorized shares of common stock, $ par value per share. The Company had approximately and shares issued and outstanding as of December 31, 2021 and 2020, respectively.
The holders of common stock are entitled to one vote for each share of common stock held.
In January, February, March, August and November 2020, the Company closed a series of placements of its common stock resulting in the sale of shares of its common stock for net proceeds after transaction costs of approximately $35.8 million.
The Company was a party to the At-The-Market Offering Agreement, dated July 1, 2020 (“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 its common stock pursuant to the ATM Agreement for net proceeds of approximately $2,072,000. There were no sales under the ATM Agreement during the remainder of 2021.
On May 4, 2021, the Company entered into an underwriting agreement with H.C. Wainwright & Co., LLC, pursuant to which the Company agreed to issue and sell shares of the Company’s common stock at a public offering price of $ per share, less underwriting discounts and commissions (the “Offering”). The Company received approximately $36.4 million in net proceeds from the Offering, after deducting underwriting discounts and estimated offering expenses. The Offering closed on May 7, 2021.
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