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Subsequent Events
12 Months Ended
Dec. 31, 2021
Subsequent Events [Abstract]  
Subsequent Events

18. Subsequent Events

 

On January 19, 2022, the Company announced BARDA added and exercised a new option on the contract originally awarded to the Company in 2018. The new option increases the total amount of committed funding by $12.9 million to approximately $46.9 million, increasing the total potential contract value to $59.7 million. The additional $12.9 million option is expected to provide support for a clinical trial and related activities for orally administered tebipenem pivoxil’s use in treating pediatric patients with complicated urinary tract infections, including acute pyelonephritis.

 

Subsequent to December 31, 2021 and through and including March 25, 2022, the Company sold an additional 344,205 shares of its common stock under the "at-the-market" offering program sales agreement with Cantor at an average price of approximately $10.86 per share for aggregate gross proceeds of approximately $3.7 million prior to deducting sales commissions.