5.	Stockholders' Equity and Common Stock Warrants

2020

Common Stock Offering

May 2020,

the Company completed a public offering of

11,428,572

shares of common stock for a purchase price of

$1.05

per share for net proceeds of

$10.3

million after deducting commissions, discounts, and other offering costs. In addition, at the closing of the

May 2020

Offering, the Company issued warrants to purchase up to

571,429

shares of common stock to designees of the placement agent for the

May 2020

Offering. The placement agent's warrants have an exercise price of

$1.3125

per share and a term of

five

years from the date of issuance.

Additionally, in

May 2020,

the Company entered into a warrant exercise agreement with an investor who held the Prior Warrant, a previously outstanding warrent to purchase up to an aggregate of

5,000,000

shares of our common stock at an exercise price of

$0.35

per share. In consideration for the exercise of the Prior Warrant for cash and an additional

$0.125

per each share of common stock in the Prior Warrant being exercised, the exercising investor received new unregistered warrants to purchase up to an aggregate of

5,000,000

shares of common stock in a private placement. The warrants are exercisable immediately at an exercise price of

$0.5263

per share and exercisable until

November 8, 2025.

The Company recognized a deemed dividend of

$2.0

million to reflect the consideration given as an inducement for the investor to exercise the warrants. This deemed dividend is recorded in the Company's statement of operations during the

nine

months ended

September 30, 2020

as an increase to the net loss attributable to common stockholders for purposes of computing net loss per share, basic and diluted.

In connection with the

May 2020

Investor Warrant Exercise, the Company issued warrants to purchase up to

250,000

shares of common stock to the placement agent with an exercise price of

$0.5938

per share and otherwise have identical terms to the warrants issued to the investor.

2019

Common Stock and Warrant Offerings

December 2019,

the Company completed the

December 2019

Offering, an offering of

6,266,787

shares of its common stock and warrants to purchase up to

6,266,787

shares of common stock. The shares of common stock and warrants were sold for a combined purchase price of

$0.5585

per share for net proceeds of

$3.0

million. The

December 2019

Offering warrants are exercisable beginning on the date of their issuance until

June 13, 2025

at an initial exercise price equal to

$0.4335

per share.

In addition, at the closing of the

December 2019

Offering, the Company issued warrants to purchase up to

313,339

shares of common stock to designees of the placement agent. The placement agent's warrants have an exercise price of

$0.6981

per share and a term of

five

years from the date of issuance.

November 2019,

the Company completed the

November 2019

Offering, a registered direct public offering of

5,104,429

shares of its common stock, and

6,324,143

pre-funded warrants each entitling the holder to purchase

one

share of common stock, together with warrants to purchase up to

22,857,144

shares of common stock, at a combined public offering price of

$0.35

per share and associated warrants for total net proceeds of

$3.3

million. The warrants were issued with an exercise price of

$0.35

per share and are exercisable beginning on their date of issuance. Of the warrants issued,

11,428,572

have a term of

months and

11,428,572

have a term of

five

years.

In addition, at the closing of the

November 2019

Offering, the Company issued warrants to purchase up to

571,429

shares of common stock to designees of the placement agent. The placement agent's warrants have an exercise price of

$0.4375

per share and a term of

five

years from the date of issuance.

May 2019,

the Company completed the

May 2019

Offering, a registered direct public offering of

1,317,060

shares of common stock and a private placement of warrants to purchase up to

1,317,060

shares of common stock. The shares of common stock and warrants were sold for a combined purchase price of

$4.895

for total net proceeds of

$5.6

million. The warrants are exercisable beginning on the date of their issuance until

November 29, 2024

at an initial exercise price equal to

$5.00.

In addition, at the closing of the

May 2019

Offering, the Company issued warrants to purchase up to

65,853

shares of common stock to designees of the placement agent. The placement agent's warrants have an exercise price of

$6.11875

per share and a term of

five

years from the date of issuance.

Common Stock Warrants

As of

September

30,

2020,

the Company had the following warrants outstanding to acquire shares of its common stock:

	Outstanding		Range of exercise price per share			Expiration dates
Common stock warrants issued in 2017 related to Series A convertible preferred stock offering		903,870		$33.30		March 2022
Common stock warrants issued in 2018 related to the January 2018 common stock offering		1,181,421	$12.00	-	$15.00	January 2023
Common stock warrants issued related to the May 2019 Offering		1,382,913	$5.00	-	$6.11875	November 2024
Common stock warrants issued related to the November 2019 Offering		497,140	$0.35	-	$0.4375	May 2024
Common stock warrants issued related to the December 2019 Offering		313,339		$0.6981		December 2024
Common stock warrants issued related to the May 2020 Offering		571,429		$1.3125		May 2025
Common stock warrants issued related to May 2020 Investor Warrant Exercise		4,250,000	$0.5263	-	$0.5938	November 2025
		9,100,112

During the

nine

months ended

September 30, 2020,

warrants expired and

19,106,504

warrants were exercised for gross proceeds of

$8.0

million.