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Subsequent Events
6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events

10. SUBSEQUENT EVENTS

Subsequent to June 30, 2020, during multiple trading days through August 6, 2020, the Company sold an additional aggregate of 1,055,002 shares of common stock under its ATM facility at an average price of $3.8007 per share, resulting in gross proceeds of $4.0 million. Proceeds, net of fees of $0.1 million, were $3.9 million.

On July 24, 2020, the Company entered into a securities purchase agreement for the sale and issuance of an aggregate of 244,998 shares of the Company’s common stock, for an aggregate purchase price of $0.9 million, in a Private Placement with certain directors, officers, and employees at a price per share of $3.50. The shares of common stock issued in the Private Placement constitute “restricted securities” under the federal securities laws and are subject to a minimum six-month holding period.