COMMON STOCK |
3 Months Ended | ||
|---|---|---|---|
Mar. 31, 2021 | |||
| Equity [Abstract] | |||
| COMMON STOCK |
The Company has authorized shares of common stock, $ par value per share, of which shares, and shares were issued and outstanding as of March 31, 2021, and December 31, 2020, respectively.
On February 11, 2020, the Company consummated an underwritten public offering of shares of its common stock pursuant to which the Company sold an aggregate of shares of its common stock, including shares sold pursuant to the full exercise of the underwriters’ option to purchase additional shares, at a purchase price of $ per share with gross proceeds to the Company totaling $46,000,000, less estimated issuance costs incurred of approximately $3,147,000.
On April 7, 2020, the Company entered into the April 2020 Sale Agreement with Jefferies pursuant to which Jefferies served as the Company’s sales agent to sell up to $75,000,000 of shares of the Company’s common stock through an “at the market offering”. Sales of common stock under the April 2020 Sale Agreement were made pursuant to an effective registration statement for an aggregate offering of up to $75,000,000. During the three months ended March 31, 2021 and 2020, the Company did not sell any shares of its common stock under the April 2020 Sale Agreement. We completed sales of the $75,000,000 of shares of the Company’s common stock under the April 2020 Sale Agreement prior to beginning to sell shares under the August 2020 Sale Agreement.
On August 7, 2020, the Company entered into the August 2020 Sale Agreement with Jefferies pursuant to which Jefferies is serving as the Company’s sales agent to sell shares of the Company’s common stock through an “at the market offering.” As of August 7, 2020, the company was authorized to sell up to $ of shares of the Company’s common stock pursuant to the August 2020 Sale Agreement. During the three months ended March 31, 2021, the Company sold shares of its common stock under the August 2020 Sale Agreement for which the company received gross proceeds of approximately $60,681,238, less issuance costs incurred of approximately $1,820,437.
During the three months ended March 31, 2021 and 2020, the Company issued and shares of common stock upon the exercise of stock options to purchase common stock and the Company received proceeds of $894,800 and $15,994 from these exercises, respectively.
warrants were exercised during the three months ended March 31, 2021 and 2020. |