COMMON STOCK |
6 Months Ended |
|---|---|
Jun. 30, 2022 | |
| Equity [Abstract] | |
| COMMON STOCK |
12. COMMON STOCK
The Company has authorized 300,000,000 shares of common stock, $0.0001 par value per share, of which 125,280,881 and 125,230,881 shares were issued and outstanding as of September 30, 2022 and December 31, 2021, respectively.
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 $150,000,000 of shares of the Company’s common stock pursuant to the August 2020 Sale Agreement. During the three and nine months ended September 30, 2022, the Company did not sell any shares of its common stock under the August 2020 Sale Agreement. During the three and nine months ended September 30, 2021, the Company sold 0 and 25,391,710 shares of its common stock under the August 2020 Sale Agreement for which the company received gross proceeds of approximately $0 and $60,681,238, less issuance costs incurred of $1,820,437, respectively.
During the three and nine months ended September 30, 2022, the Company issued no shares of common stock upon the exercise of stock options to purchase common stock and the Company received no proceeds exercises, respectively.
During the three and nine months ended September 30, 2021, the Company issued 0 and 838,600 shares of common stock upon the exercise of stock options to purchase common stock and the Company received proceeds of approximately $0 and $944,800, respectively.
During the three and nine months ended September 30, 2022, the Company issued 12,500 and 50,000 common shares from the vesting of shares from restricted stock under the 2014 Plan.
No warrants were exercised during the three and nine months ended September 30, 2022 and 2021. |