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At The Market Offering
3 Months Ended
Mar. 31, 2023
At-The-Market Offering  
At The Market Offering

10.       At-The-Market Offering

On November 8, 2022, the Company filed a registration statement on Form S-3, which was declared effective on November 17, 2022 (the “Registration Statement”). Under the Registration Statement, the Company may offer and sell up to $150.0 million in the aggregate of its common stock, preferred stock, debt securities, warrants and units from time to time in one or more offerings. Also on November 8, 2022, the Company entered into a sales agreement (“Sales Agreement”) with Cowen and Company, LLC (“Cowen”), pursuant to which the Company may issue and sell from time to time up to $150.0 million of its common stock through or to Cowen as the Company’s sales agent or principal in an at-the-market offering (“ATM Offering”). During the three months ended March 31, 2023, the Company sold 1,131,450 shares of common stock at a weighted-average price per share of $6.54 for gross proceeds of $7.4 million pursuant to the ATM Offering and received net proceeds of $7.2 million, net of $0.2 million of commissions and fees. As of March 31, 2023, the Company had approximately $135.9 million of its common stock remaining available for sales under the ATM Offering.