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STOCKHOLDER'S EQUITY
 9 Months Ended
Sep. 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 September 30, 2023, the Company sold an aggregate of 2,620,703 shares of common stock under the ATM Program at an average price of approximately $5.74 per share for gross proceeds of approximately $15.0 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. Subsequent to September 30, 2023 and through the date of this filing, no shares were sold under the ATM Program.

Outstanding Shares

At September 30, 2023, the Company had 25,855,070 shares of common stock issued and outstanding.