Subsequent Events

3 Months Ended

Mar. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

Note 9 – Subsequent Events

On April 19, 2017, the Company entered into a Subscription Agreement with certain investors providing for the issuance and sale by the Company of 1,800,000 shares of the Company’s Common Stock (the "Shares"), in a registered direct offering (the "Offering"). The Shares were offered at a price of $10.00 per Share. The closing of the Offering occurred on April 21, 2017. The Company received gross proceeds from the Offering of $18 million and net proceeds from the Offering of $17.4 million, after deducting the finder’s fee payable to Maxim Group LLC and other offering expenses. The Company intends to use the net proceeds from the Offering to advance pre-commercial activities for EG-1962 (currently in a registration study for the treatment of aneurysmal subarachnoid hemorrhage), to expand its product portfolio and for general corporate purposes.