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STOCKHOLDER'S EQUITY
 6 Months Ended
Jun. 30, 2023
STOCKHOLDER'S EQUITY  
STOCKHOLDER'S EQUITY

2.            STOCKHOLDER’S EQUITY

ATM Program

The Company established an “at-the-market” program (the “ATM Program”) on June 21, 2021, with an aggregate offering price of up to $75.0 million, pursuant to a Common Stock Sales Agreement with Wainwright by which Wainwright has sold and may continue to sell our common stock at the market prices prevailing at the time of sale. Wainwright is entitled to compensation for its services at a commission rate of 3.0% of the gross sales price per share of common stock sold plus reimbursement of certain expenses.

From June 21, 2021 through June 30, 2023, the Company sold an aggregate of 2,550,718 shares of common stock under the ATM Program at an average price of approximately $5.74 per share for gross proceeds of approximately $14.6 million. The Company paid cash commissions on the gross proceeds, plus reimbursement of expenses to Wainwright, as

well as legal and accounting fees in the aggregate amount of approximately $0.5 million. Additionally, subsequent to June 30, 2023, the Company sold shares under the ATM Program (see Note 9 – “Subsequent Events”).

Outstanding Shares

At June 30, 2023, the Company had 25,764,312 shares of common stock issued and outstanding.