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Common Stock
6 Months Ended
Jun. 30, 2020
Common Stock  
Common Stock

9. Common Stock

In May 2020, the Company entered into an underwriting agreement with Jefferies LLC and Piper Sandler & Co. (“the Underwriters”), in connection with an underwritten public offering of 8,181,819 shares of the Company's common stock. Under the terms of this underwriting agreement, the Company also granted the Underwriters an option to purchase up to an additional 1,227,272 shares of common stock at the public offering price, less the underwriting discounts and commissions. The Underwriters subsequently exercised this option to purchase such option shares in full. The public offering price of the shares in this offering was $5.50 per share, and the Underwriters purchased all of the shares from the Company at a price of $5.17 per share. After deducting underwriting discounts and commissions and offering expenses, the Company received net proceeds from the offering of $48,327.

On April 5, 2019, the Company entered into an Open Market Sales AgreementSM (the “2019 Sales Agreement”) with Jefferies, LLC (“Jefferies”), under which the Company may offer and sell its common stock having aggregate proceeds of up to $50,000 from time to time through Jefferies, acting as agent. In the three and six months ended June 31, 2020, the Company sold 326,558 and 2,984,381 shares of common stock under the 2019 Sales Agreement, resulting in net proceeds of approximately $1,667 and $14,357, respectively, after commissions and expenses. Through June 30, 2020, the Company sold 10,321,840 shares of common stock under the 2019 Sales Agreement, resulting in net proceeds of approximately $46,983 after underwriting discounts and commissions and expenses.