Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity

v3.24.3
Stockholders’ Equity
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Stockholders’ Equity

Note 2 – Stockholders’ Equity

 

Preferred Stock

 

There were no issued or outstanding shares of preferred stock at either September 30, 2024 or December 31, 2023.

 

Common Stock

 

During the nine months ended September 30, 2024, we sold 476,000 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 $4.4999 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 1,079,555 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 nine months ended September 30, 2024, we also received approximately $931,000 in net proceeds from the sale of 374,190 shares of common stock under the ATM Offering on July 31, 2024. During the nine months ended September 30, 2024, we also issued (i) 5,000 shares of common stock to Elion Oncology, Inc. (“Elion”) in satisfaction of the third milestone event under the license agreement; (ii) 30,000 shares of common stock to a consultant in accordance with their consulting agreement; and (iii) 16,199 shares of common stock to certain employees and consultants, net of 7,154 shares of common stock withheld for income taxes owed upon distribution of the shares.