Subsequent Event

9 Months Ended

Sep. 30, 2017

12.

Subsequent Event

On November 3, 2017, the Company entered into a securities purchase agreement with certain investors pursuant to which the Company agreed to sell an aggregate of 13,333,332 shares of the Company’s common stock and warrants to purchase up to 6,666,666 shares of our common stock for gross proceeds of approximately $4.0 million under the Company’s shelf registration statement on Form S-3 (File No. 333-215205), which became effective on January 9, 2017 (the “2017 Registered Direct Offering”). The Company also issued warrants to purchase up to 160,000 shares of common stock in a private placement to Roth Capital Partners, LLC as compensation for its services as a placement agent in connection with the 2017 Registered Director Offering. The 2017 Registered Direct Offering closed on November 6, 2017. The net proceeds to the Company from the 2017 Registered Direct Offering, after deducting the placement agent’s fees and expenses and the Company’s offering expenses, and excluding the proceeds, if any, from the exercise of the warrants issued in the offering, were approximately $3.6 million.