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Subsequent Events
 12 Months Ended
Dec. 31, 2020
Subsequent Events [Abstract]  
Subsequent Events

10.

SUBSEQUENT EVENTS

 

In January 2021, 81,633 warrants issued in conjunction with the March 2020 Offering were exercised at an exercise price of $16.10 per share for gross proceeds of $1.3 million.

 

On February 1, 2021, in an underwritten public offering (the “Public Offering”), the Company issued 744,936 shares of common stock and warrants to purchase up to an aggregate of 372,468 shares of common stock at a purchase price of $14.82 per unit, consisting of one share and a warrant to purchase 0.50 shares of common stock. The warrants have an initial exercise price of $16.302 per share and are exercisable for a period of five years from the date of issuance. The Company also issued warrants to the underwriter to purchase 29,797 shares of common stock, with an exercise price of $18.525 per share. Net proceeds from the Public Offering after underwriter’s discounts and commission and offering expenses paid by us were approximately $9.6 million. Affiliates of the Company’s Interim Chief Executive Officer participated in the Public Offering on the same terms and conditions as all other purchasers.