(8) Stockholders’ Equity

In May 2016, the Company entered into a controlled equity offering sales agreement agreement (the “Cantor Agreement”) with Cantor Fitzgerald & Co. (“Cantor”) to allow the Company to issue and sell shares of its common stock from time to time through Cantor, acting as agent. In March 2020, the Company filed a prospectus supplement for the amount of shares that the Company is eligible to sell pursuant to the Cantor Agreement. Under the March 2020 prospectus supplement, the Company may offer and sell shares of common stock having an aggregate offering price of up to $18,000,000. During the three months ended March 31, 2020, the Company issued 0.7 million shares of common stock pursuant to the Cantor Agreement resulting in net proceeds of $1.6 million after deducting commission and offering expenses. At March 31, 2020, the Company had $17.9 million remaining in aggregate gross offering price available under the March 2020 prospectus supplement. In April 2020, the Company issued 1.2 million shares of its common stock resulting in net proceeds to the Company of $2.9 million.

The changes in Stockholders’ Equity during the three months ended March 31, 2020 and 2019 are summarized below:


						Accumulated
	Common	Common		Additional		Other				Total
	Stock	Stock Par		Paid-In		Comprehensive		Accumulated		Stockholders’
	Shares	Value		Capital		Income		Deficit		Equity
	(In thousands, except share amounts)
Consolidated Balance at December 31, 2019	16,972,077		17		1,104,706		2,619		(1,013,316)		94,026
Shares Issued under Stock Option and Employee Stock Purchase Plans	12,573		—		24		—		—		24
Shares Issued in Connection with Cantor Agreement	746,152		1		1,613		—		—		1,614
Share-Based Compensation	—		—		686		—		—		686
Unrealized Loss on Marketable Securities	—		—		—		(22)		—		(22)
Net Loss	—		—		—		—		(12,625)		(12,625)
Consolidated Balance at March 31, 2020	17,730,802	$	18	$	1,107,029	$	2,597	$	(1,025,941)	$	83,703

						Accumulated
	Common	Common		Additional		Other				Total
	Stock	Stock Par		Paid-In		Comprehensive		Accumulated		Stockholders’
	Shares	Value		Capital		Income		Deficit		Equity
	(In thousands, except share amounts)
Consolidated Balance at December 31, 2018	11,957,635		12		1,083,903		2,583		(962,438)		124,060
Shares Issued under Stock Option and Employee Stock Purchase Plans	3,507		—		9		—		—		9
Shares Issued in Connection with Cantor Agreement	883,569		1		4,150		—		—		4,151
Share-Based Compensation	—		—		1,693		—		—		1,693
Unrealized Loss on Marketable Securities	—		—		—		19		—		19
Net Loss	—		—		—		—		(17,239)		(17,239)
Consolidated Balance at March 31, 2019	12,844,711	$	13	$	1,089,755	$	2,602	$	(979,677)	$	112,693