Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events

Subsequent Events

15.Subsequent Events

At-The-Market Offering - Subsequent to December 31, 2020, the Company offered and sold 278,800 shares of its common stock under the Offering Agreement for gross proceeds of approximately $2.3 million. The net proceeds from the offering, after deducting commissions and the Company’s offering expenses, were approximately $2.2 million.

Warrant Exercises - Subsequent to December 31, 2020, the Company issued an aggregate of 416,655 shares of its common stock pursuant to the exercise of warrants at a weighted average exercise price of approximately $9.90 per share. The net proceeds to the Company from the exercise of the warrants were approximately $4.1 million.

2021 Registered Direct Offering - On February 16, 2021, the Company entered into a placement agency agreement with Roth Capital Partners, LLC relating to a public offering of 1,710,600 shares of its common stock for gross proceeds of approximately $13.0 million under the 2019 Shelf Registration Statement (the “2021 Registered Direct Offering”).  In addition, on February 16, 2021, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company agreed to sell an aggregate of 1,650,000 shares of its common stock in the 2021 Registered Direct Offering to such investors.  The 2021 Registered Direct Offering closed on February 18, 2021. The net proceeds to the Company from the offerings, after deducting the placement agent’s fees and expenses and the Company’s offering expenses, were approximately $12.2 million.