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Insider Trading Arrangements
 3 Months Ended 9 Months Ended
Sep. 30, 2024
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Sep. 30, 2024
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ecd_TradingArrByIndTable    
Material Terms of Trading Arrangement [Text Block]  

Item 5. Other Information

 

(a)  

On November 6, 2024, the Company provided notice of its termination, effective on such date, of the Equity Distribution Agreement dated March 13, 2024 between the Company and Raymond James & Associates in connection with the Company’s At-The-Market equity offering program (the “ATM program”).  As previously reported, the Company could offer and sell shares of its common stock having an aggregate proceeds of up to $60 million through Raymond James & Associates as sales agent.  As of the termination date, the ATM program had generated total gross proceeds of $59.9 million.

(b) None

 

(c) Rule 10b5-1 Trading Plans

 

The adoption or termination of contracts, instructions or written plans for the purchase or sale of our securities by our Section 16 officers and directors for the three months ended September 30, 2024, each of which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act ("Rule 10b5-1 Plan"), were as follows:

 

NameTitleActionDate AdoptedExpiration DateAggregate # of Securities to be Purchased/Sold
Richard B. Black(1)DirectorAdopt8/13/20241/31/202530,000
Stefan Murry(2)Chief Financial OfficerAdopt9/18/20248/1/2025

48,000

 

1.

 

Richard B. Black, our Director, entered into a Rule 10b5-1 Plan on August 13, 2024. Mr. Black's plan provides for the potential sale of up to 30,000 shares of the Company's common stock. The plan expires on January 31, 2025, or upon the earlier completion of all authorized transactions under the plan.

 
 

2.

Stefan Murry, our Chief Financial Officer, entered into a Rule 10b5-1 Plan on September 18, 2024. Dr. Murry's plan provides for the potential sale of up to 48,000 shares of the Company's common stock. The plan expires on August 1, 2025, or upon the earlier completion of all authorized transactions under the plan.

 

 
Non-Rule 10b5-1 Arrangement Terminated [Flag] false  
Non-Rule 10b5-1 Arrangement Adopted [Flag] false  
Rule 10b5-1 Arrangement Terminated [Flag] false  
Richard B Black [Member]    
ecd_TradingArrByIndTable    
Trading Arrangement Adoption Date 8/13/2024  
Trading Arrangement, Securities Aggregate Available Amount 30,000 30,000
Trading Arrangement, Individual Name Richard B. Black  
Trading Arrangement, Individual Title Director  
Rule 10b5-1 Arrangement Adopted [Flag] true  
Stefan Murry [Member]    
ecd_TradingArrByIndTable    
Trading Arrangement Adoption Date 9/18/2024  
Trading Arrangement, Securities Aggregate Available Amount 48,000 48,000
Trading Arrangement, Individual Name Stefan Murry  
Trading Arrangement, Individual Title Chief Financial Officer  
Rule 10b5-1 Arrangement Adopted [Flag] true