SHAREHOLDERS’ EQUITY |
9 Months Ended |
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Dec. 31, 2021 | |
Equity [Abstract] | |
SHAREHOLDERS’ EQUITY | NOTE 12. SHAREHOLDERS’ EQUITY
Lincoln Park Capital Transaction - July 8, 2020 Purchase Agreement
On July 8, 2020, the Company entered into a purchase agreement (the “2020 LPC Purchase Agreement”), and a registration rights agreement (the “2020 LPC Registration Rights Agreement”), with Lincoln Park Capital Fund, LLC (“Lincoln Park”), pursuant to which Lincoln Park has committed to purchase up to $25.0 million of the Company’s Common Stock, $ par value per share, from time to time over the term of the 2020 LPC Purchase Agreement, at the Company’s direction.
The Company did not issue any shares of its Common Stock pursuant to the 2020 LPC Purchase Agreement during the nine months ended December 31, 2021. In addition, there were no shares issued to Lincoln Park as additional commitment shares, pursuant to the 2020 LPC Agreement.
During the nine months ended December 31, 2020 the Company issued an aggregate of 469,105 to Lincoln Park as initial commitment shares. The Company sold shares of its Common Stock pursuant to the 2020 LPC Purchase Agreement during the nine months ended December 31, 2020 for net proceeds totaling $42,223. In addition, shares were issued to Lincoln Park as additional commitment shares, pursuant to the 2020 LPC Agreement. shares of Common Stock in the amount of $
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