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SUBSEQUENT EVENTS | 3 Months Ended
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Mar. 31, 2023
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | 11. SUBSEQUENT EVENTS The Company has evaluated events and transactions subsequent to March 31, 2023 through the date of this Quarterly Report on Form 10-Q, and any material subsequent events are reported below. ​ At The Market Offering Agreement ​ On April 14, 2023, the Company entered into a Sales Agreement with AGP, pursuant to which the Company may offer and sell from time to time shares (the “Shares”) of its common stock, par value $0.01 per share (the “Common Stock”) to or through AGP, as sales agent (the “AGP 2023 Sales Agreement”), in an “at the market offering” (as defined in Rule 415(a)(4) under the Securities Act of 1933, as amended) of the Shares (the “ATM Offering”). AGP will be entitled to a commission at a fixed rate of 3.0% of the gross proceeds from each sale of Shares pursuant to the AGP 2023 Sales Agreement. The Company has filed a prospectus to its registration statement on Form S-3 (File No. 333-271277), as amended, offering shares of common stock having an aggregate gross sales price of up to $5,800,000 pursuant to the AGP 2023 Sales Agreement. ​ As of the date the condensed consolidated financial statements were issued, we have received less than $1,000 in gross proceeds through the AGP 2023 Sales Agreement from the sale of 500 shares of common stock, leaving the Company approximately $5.8 million available for future sales pursuant to the AGP 2023 Sales Agreement. ​ Nasdaq Delisting Notice ​ As previously reported, on October 28, 2022, the Company received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that the closing bid price for its common stock had been below $1.00 for the previous 30 consecutive business days, and that it was therefore not in compliance with the minimum bid price requirement for continued inclusion on The Nasdaq Capital Market under Nasdaq Listing Rule 5550(a)(2) (the "Bid Price Rule"). The notice indicated that it would have 180 calendar days, or until April 26, 2023, to regain compliance with the Bid Price Rule. ​ On April 27, 2023, Nasdaq notified the Company that it is eligible for an extension to comply with the Bid Price Rule until October 23 2023, by which date the Company must evidence compliance for at least ten consecutive business days. If compliance cannot be demonstrated by October 23, 2023, Nasdaq will provide written notification that the Company’s common stock will be delisted. In the event of such a notification, the Company may appeal Nasdaq’s determination, but there can be no assurance Nasdaq would grant any such request for continued listing. ​ The Company intends to monitor the closing bid price of its common stock and may, if appropriate, evaluate various courses of action to regain compliance with the Bid Price Rule. However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Rule. ​ ​

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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