| Summary of Net Proceeds after Deducting Underwriting Discounts Commissions and Other Estimated Offering Expenses |
The July 2023 Offering resulted in net proceeds to the Company of approximately $74.9 million, after deducting final underwriting discounts, commissions, and other estimated offering expenses, as follows (in thousands):
|
|
|
|
|
Financial instruments |
|
Proceeds |
|
Common stock |
|
$ |
63,000 |
|
2023 Pre-funded warrants |
|
|
16,994 |
|
Total |
|
|
79,994 |
|
Offering expenses |
|
$ |
(5,120 |
) |
Net proceeds |
|
$ |
74,874 |
|
|
| Company's Shares of Common Stock Reserved for Issuance |
The Company’s shares of common stock reserved for issuance as of the periods indicated were as follows:
|
|
|
|
|
|
|
|
|
|
|
June 30, 2024 |
|
|
December 31, 2023 |
|
April 2017 Warrants |
|
|
24,725 |
|
|
|
24,725 |
|
June 2017 Warrants |
|
|
41,736 |
|
|
|
41,736 |
|
December 2018 Warrants |
|
|
11,332 |
|
|
|
11,332 |
|
2017 Pre-funded Warrants |
|
|
775,000 |
|
|
|
775,000 |
|
Pre-funded PIPE Warrants |
|
|
5,780,537 |
|
|
|
5,780,537 |
|
2021 Pre-funded Warrants |
|
|
32,175,172 |
|
|
|
32,175,172 |
|
2023 Pre-funded Warrants |
|
|
5,666,667 |
|
|
|
5,666,667 |
|
Stock options outstanding |
|
|
9,735,019 |
|
|
|
9,633,067 |
|
Issued and nonvested RSUs |
|
|
3,560,125 |
|
|
|
3,488,250 |
|
Total shares reserved |
|
|
57,770,313 |
|
|
|
57,596,486 |
|
|
| Summary of Outstanding Warrants for Company's Common Stock |
The following table summarizes the outstanding warrants for the Company’s common stock as of June 30, 2024:
|
|
|
|
|
|
|
|
|
Expiration Date |
|
Shares Underlying
Outstanding Warrants |
|
|
Exercise Price |
|
October 2024 |
|
|
775,000 |
|
|
$ |
0.01 |
|
April 2027 |
|
|
24,725 |
|
|
$ |
2.87 |
|
June 2027 |
|
|
41,736 |
|
|
$ |
2.87 |
|
December 2028 |
|
|
11,332 |
|
|
$ |
2.87 |
|
None |
|
|
43,622,376 |
|
|
$ |
0.001 |
|
|
|
|
44,475,169 |
|
|
|
|
|
| Components of Accumulated Other Comprehensive Income (Loss) |
The components of accumulated other comprehensive income (loss) as of the dates indicated and the change during the period were (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign Exchange Translation Adjustment |
|
|
Unrealized Gain (Loss) on ST Investments |
|
|
Total Accumulated Other Comprehensive Income (Loss) |
|
Balance, December 31, 2022 |
|
$ |
(594 |
) |
|
$ |
(11 |
) |
|
$ |
(605 |
) |
Change |
|
$ |
133 |
|
|
$ |
201 |
|
|
$ |
334 |
|
Balance, December 31, 2023 |
|
$ |
(461 |
) |
|
$ |
190 |
|
|
$ |
(271 |
) |
Change |
|
$ |
(333 |
) |
|
$ |
(276 |
) |
|
$ |
(609 |
) |
Balance, June 30, 2024 |
|
$ |
(794 |
) |
|
$ |
(86 |
) |
|
$ |
(880 |
) |
|