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Common Stock and Preferred Stock
 3 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Common Stock and Preferred Stock

10. Common Stock and Preferred Stock

 

At-the-Market Offering

 

On October 23, 2024, the Company entered into the Sales Agreement with A.G.P. relating to shares of the Company’s Common Stock. In accordance with the terms of the Sales Agreement, the Company may offer and sell shares of our Common Stock having an aggregate offering price of up to $23.9 million from time to time through A.G.P., acting as our sales agent or principal.

 

The compensation to A.G.P. for sales of common stock sold pursuant to the Sales Agreement will be equal to 3.0% of the gross proceeds of any shares of common stock sold under the sales agreement.

 

During the three months ended March 31, 2025, the Company sold 4,345,913 shares of the Company’s Common Stock through the Sales Agreement. The Company received proceeds of $8.1 million, net of commissions payable to A.G.P. of $0.2 million. As of the date of this Quarterly Report on Form 10-Q, the Company has approximately $12.0 million available under the Sales Agreement.