Stockholders’ Equity |
6 Months Ended |
|---|---|
Jun. 30, 2024 | |
| Equity [Abstract] | |
| Stockholders’ Equity |
Note 2 – Stockholders’ Equity
Preferred Stock
There were issued or outstanding shares of preferred stock at either June 30, 2024 or December 31, 2023.
Common Stock
During the six months ended June 30, 2024, we sold shares of common stock, pre-funded warrants to purchase up to 1,079,555 shares of common stock in lieu of shares of common stock (the “Pre-Funded Warrants”), and warrants to purchase up to 1,555,555 shares of our common stock (the “Common Warrants’) in a public offering (the “Offering”). The Common Warrants have an exercise price of $4.50, are immediately exercisable and expire on January 30, 2029. The shares of common stock were offered at a combined public offering price of $4.50 per share and accompanying Common Warrant and $per Pre-Funded Warrant and accompanying Common Warrant. The Pre-Funded Warrants had an exercise price of $0.0001 and were exercised in full simultaneously with the closing of the Offering in exchange for shares of our common stock. Gross proceeds in connection with the Offering were $7.0 million. We received $6.3 million in net proceeds from the Offering, after deducting the fees of the placement agent and other offering-related expenses. We also issued to the placement agent warrants to purchase 62,222 shares of common stock, exercisable at $5.625 per share that expire on February 1, 2027.
During the six months ended June 30, 2024, we also issued: shares of common stock to Elion Oncology, Inc. (“Elion”) in satisfaction of the third milestone event under the license agreement; shares of common stock to a consultant in accordance with their consulting agreement; and shares of common stock to certain employees and consultants, net of shares of common stock withheld for income taxes owed upon distribution of the shares.
|