8. Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

Pursuant to the Capital on DemandTM Sales Agreement with JonesTrading, from January 1 through February 11, 2021, the Company sold 1,104,047 shares of its common stock at an average gross price of $10.20 per share for net proceeds of $10.9 million, after fees and commissions of $0.3 million.

From January 1 through February 15, 2021, the Company's Plan Administrator Committee (with regards to non-officer employees) and the Company's Compensation Committee, as ratified by the full Board (in the case of officers and non-employee directors) granted an aggregate of 183,976 stock options with exercise prices ranging from $6.12 to $9.67 for an aggregate grant date fair value of approximately $0.9 million which will be expensed over the vesting period. All stock options have a 10 year term and vest from 1 to 4 years. The Company also granted an aggregate 124,374 restricted stock units on January 26, 2021 with an aggregate value of approximately $0.8 million which vest from 1 to 4 years.