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Common Stock | 12 Months Ended
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Dec. 31, 2019
Common Stock [Abstract] |
Common Stock | Note 8 − Common Stock Each share of common stock has the right to one vote. The holders of common stock are entitled to receive dividends whenever funds are legally available and when declared by our Board of Directors, subject to the prior rights of holders of all classes of stock outstanding having priority rights as to dividends. Our restated articles of incorporation authorize us to issue up to 100,000,000 shares of $.0001 par value common stock. In August 2015, we filed a universal shelf registration statement with the SEC enabling us to offer and sell from time to time up to $100 million of equity, debt or other types of securities. We also entered into an at-the-market (“ATM”) equity offering sales agreement with Cowen & Company, LLC in August 2015, under which we may offer and sell shares of our common stock having an aggregate value of up to $35 million. On March 8, 2018, we amended our August 20, 2015 equity offering sales agreement with Cowen whereby the maximum aggregate value of the Company’s common stock we could offer and sell, from time to time, was increased from $35,000 to $50,000. This registration statement expired on September 2, 2018. On July 30, 2018 we filed a $100,000 replacement universal shelf registration statement on SEC Form S-3. This replacement registration statement was declared effective by the SEC on August 16, 2018. We also entered a new ATM with Cowen on August 31, 2018, under which we could offer and sell shares of our common stock having an aggregate value of up to $50,000. We use the ATM proceeds for GABRIEL product development and marketing, and general corporate purposes, which may include working capital, capital expenditures, other corporate expenses and acquisitions of complementary products, technologies or businesses. As of December 31, 2019, common stock with an aggregate value of up to $26,592 remained available for offer and sale under the ATM agreement. We sold 1,860,483 and 7,510,555 shares of common stock under the ATM program during the years ended December 31, 2019 and 2018 respectively. The average sales price per common share sold during the year ended December 31, 2019 was $5.84 and the aggregate proceeds from the sales totaled $10,866 during the period. Sales commissions, fees and other costs associated with the ATM transactions totaled $326 for 2019. The average sales price per common share sold during the year ended December 31, 2018 was $3.71 and the aggregate proceeds from the sales totaled $27,837 during the period. Sales commissions, fees and other costs associated with the ATM transactions totaled $785 for 2018 (see Note 15 Subsequent Events). In addition, in 2015 we issued warrants for the purchase of 25,000 shares of common stock which are exercisable at a price of $7 per share and expire in April 2020.

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