Stockholders' Equity

6 Months Ended

Jun. 30, 2022

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

NOTE 6 - STOCKHOLDERS’ EQUITY

Common Stock

Stock Option Exercises

During the six months ended June 30, 2022, 2,037 shares of common stock were issued in connection with the exercise of stock options for total proceeds of $10,185.

At-Market-Offering

On June 10, 2022, the Company entered into an Open Market Sale Agreement with Jefferies LLC, as agent, under which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock having an aggregate offering price of up to $35.0 million in an “at-the-market” or ATM offering, to or through the agent. As of June 30, 2022, no shares had been sold in the ATM offering. In connection with the ATM offering, the Company has included approximately $159,000 of deferred offering costs in other assets in the condensed consolidated balance sheet as of June 30, 2022. The deferred offering costs consist of legal and accounting fees, which will be charged to additional paid-in capital upon the receipt of proceeds received under the ATM offering. As of June 30, 2022, no shares had been sold in the ATM offering. Between July 1, 2022 and August 5, 2022, the Company sold 72,096 shares of its common stock at average price of $5.92 per share resulting in net proceeds of approximately $414,273.