At-The-Market Sales Agreement

9 Months Ended

Sep. 30, 2018

Equity [Abstract]

At-The-Market Sales Agreement

On May 31, 2018, the Company filed a shelf registration statement to offer up to $100 million of its securities and entered into an “at-the-market” program pursuant to a Sales Agreement with Stifel, Nicolaus & Company (“Stifel”), through which it may, from time to time, issue and sell shares of common stock having an aggregate offering value of up to $50 million. The registration statement was declared effective by the SEC on August 3, 2018. The Company believes that the “at-the-market” program will provide additional liquidity. During the three months ended September 30, 2018, the Company sold 758,201 shares of common stock through the “at-the-market” program, for total proceeds of $1.8 million, net of fees and commissions.