Subsequent Events

6 Months Ended

Jun. 30, 2020

Subsequent Event

Subsequent Events

14. Subsequent Events

Subsequent to the quarter ended June 30, 2020, the Company has issued an additional 36,111,471 shares of common stock in at-the-market offerings and received $58.5 million of net proceeds from such sales. 

In July 2020, we paid the stockholders of Pelican aggregate milestone payments of $2.0 million, which included a payment to Jeffrey Wolf, John Monahan and Edward Smith of $408,318,  $5,948 and $40,098, respectively.

On  July 27, 2020, the Company filed a new ATM prospectus supplement that is part of the Registration Statement for the offer and sale of shares of Common Stock having an aggregate offering price of up to $100,000,000 from time to time through or to B. Riley FBR acting as sales agent or principal.

On July 28, 2020, the Company granted, as partial fulfillment of a contractual obligation with respect to a milestone which has been met, options to purchase an aggregate of 2,000,000 shares of common stock at an exercise price of $2.07 per share to the Chief Executive Officer. Under the grant agreement, all of the options were vested and exercisable upon grant, and these options have a 10-year term. The estimated grant date fair value of these options was $1.46 per share.