Subsequent Events

9 Months Ended

Sep. 30, 2020

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Second Follow-On Offering

On October 19, 2020, the Company received $71.9 million of net proceeds, after deducting the underwriting discounts and commissions but before offering expenses, from its second follow-on public offering of 3,000,000 shares of the Company's common stock, and the exercise of underwriter's option to purchase from the Company an additional 478,507 shares of the Company's common stock, at a public offering price of $22.00 per share. The estimated total offering cost of approximately $0.4 million will be charged against the gross proceeds received from this second follow-on offering. The Company currently intends to use the net proceeds from this offering to support the continued commercial expansion of its products, including the increase of its sales force, additional medical affairs and educational efforts, research and development and clinical studies, direct to patient marketing, as well as for working capital and general corporate purposes. The Company may also use a portion of the net proceeds to acquire or invest in complementary products, technologies, or businesses; however, the Company currently has no agreements or commitments to complete any such transactions.

In addition to the shares sold by the Company in the second follow-on offering, on October 19, 2020, the selling stockholder sold 190,053 shares of the Company's common stock previously held by the selling stockholder at a price to the public of $22.00 per share. The Company did not receive any proceeds from the sale by the selling stockholder.