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Stockholders' Equity
 12 Months Ended
Dec. 31, 2021
Federal Home Loan Banks [Abstract]  
Stockholders' Equity

5. STOCKHOLDERS’ EQUITY

 

Preferred Stock

 

Preferred stock of 50.0 million shares, with a $0.0001 par value, is authorized but unissued.

 

Follow-on Public Offerings


On February 23, 2022, the Company completed a follow-on offering of its common stock and warrants. It issued 3,880,000 shares of its common stock, pre-funded warrants to purchase up to 3,880,000 shares of its common stock, and common warrants to purchase up to 7,760,000 shares of its common stock, all at a price of $1.41 per share. In the aggregate, the Company received net proceeds of $10.0 million, after deducting approximately $0.9 million of underwriting discounts and estimated other offering expenses.

 

On October 20, 2020, the Company completed a follow-on offering of its common stock. It sold an aggregate of 3,750,000 shares of common stock at a price of $4.00 per share. In the aggregate, the Company received net proceeds from the follow-on offering of $14.0 million, after deducting $1.0 million of placement and agent fees and other offering expenses. As part of the follow-on offering, Cellectis purchased 1,250,000 shares of common stock for a value of $5.0 million, the proceeds of which are included in the net proceeds of $14.0 million.

 

ATM Facility

 

On September 21, 2021, the Company entered into an ATM Facility with Jefferies, who is acting as sole selling agent for the ATM Facility. Under the terms of the ATM Facility, the Company may, from time-to-time, issue common stock having an aggregate offering value of up to $50.0 million. At its discretion, the Company determines the timing and number of shares to be issued under the ATM Facility.

 

As of December 31, 2021, the Company had issued approximately 1.4 million shares of common stock under the ATM Facility. The Company's balance of cash and cash equivalents includes $3.9 million of net proceeds from those sales, and another $0.2 million of cash was received in early January 2022 following the settlement of those sales with the broker. As of the date of this filing, the Company has not issued any additional shares under the ATM Facility.

Share Repurchases

The Company repurchased $0.8 million of common stock in 2019.