Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events

Subsequent Events

12. Subsequent Events

The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence for certain estimates and to identify matters that require additional disclosure. Subsequent events have been evaluated as required.

ATM Agreement

Subsequent to December 31, 2019, the Company sold an aggregate of 173,572 shares of common stock pursuant to its current ATM program, at an average price of $6.29 per share, for gross and net proceeds of $1.1 million.

January 2020 Financing

On January 30, 2020, the Company entered into an underwriting agreement with Oppenheimer & Co. Inc. relating to an underwritten public offering of an aggregate of 5,290,000 shares of common stock at a price to the public of $5.00 per share, including 690,000 shares issued upon the exercise in full by Oppenheimer & Co. Inc. of its over-allotment option. This resulted in gross proceeds of $26.5 million, and net proceeds of $24.5 million.